An unnamed Middle Eastern buyer working with two local families has jumped into a high-stakes bidding fray by making an unsolicited offer of $2.1 billion for the Empire State Building.
This tops another unsolicited $2 billion offer for the world’s most famous skyscraper made by Woolworth Building part-owner, Rubin Schron, which was made public last week.
The Empire State Building is in the process of rolling into a multi-office building IPO by Malkin Holdings, which expects its partner in the operating company, the Helmsley Estate, to sell its shares to the public. There also are nearly 3,000 shares held by them and other small investors in the land under the building.
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