Unnamed Mideast buyer offers $2.1B for Empire State Building

Unnamed Mideast buyer offers $2.1B for Empire State Building

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.

The Post has learned that Joe Tabak, of Princeton Holdings, and Philip Pilevsky, of Philips International, along with Pilevsky’s sons Michael and Seth, are working with the new Middle Eastern bidder.

Trending: CNN analyst slams Fox News Channel for daring to mention Joe Biden’s health

“To this guy, it’s like buying a painting,” said a source of the Middle Easterner. “It will be very hard to stop them. They will keep ratcheting up [the offer] until they get it.”

Continue reading →

For your convenience, you may leave commments below using either the Spot.IM commenting system or the Facebook commenting system. If Spot.IM is not appearing for you, please disable AdBlock to leave a comment.

Commenting Policy

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.