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Empire still for sale.

Empire still for sale

The Empire State Building is still up for grabs. The New York City skyscraper was put on the block by the Prudential Property Company last May and is being marketed by Salomon Brothers. The building is net leased and then sub-leased co-terminously through the year 2075 to companies controlled by Peter L. Malkin, the late Lawrence A. Wien, and Harry Helmsely. In January of 1992, the rental payment goes down to $1.97 million and in January 2013, it is reduced further to $1.723 million.

Richard Matthews, a Prudential spokesperson said, they have had some interest but are still marketing the building. "We're still hopeful of selling but we're marketing the building. "We're still hopeful of selling but we're not going to give it away," he said. "We're still optimistic about selling it with terms that will be good for us."

Malkin said his group is "still interested."
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Title Annotation:Empire State Building
Author:Weiss, Lois
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Oct 9, 1991
Words:153
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