NEW YORK CITY-Malkin Holdings LLC's plan to include the Empire State Building in a real estate investment trust and take it public is inching closer to receiving the support it requires to move forward with the proposal.
In a regulatory filing today, Malkin Holdings reports 75% of unitholders of Empire State Building Associates LLC, which owns the skyscraper, have voted in favor of the transaction. With 87% of unitholders already casting their vote, the measure requires 80% approval from the group to proceed.
Malkin Holdings Chairman Peter Malkin and President Anthony Malkin have been pushing for a quick approval of the plan to form a REIT owning the Empire State Building and approximately 20 other New York- area properties. See story at Bloomberg News.
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