NEW YOR CITY—A piece of New York City real estate history has come to an end. According to records filed with New York City on Thursday, The Leona M. and Harry B. Helmsley Charitable Trust sold its final two property interests in New York City for a total sale price of more than $200 million.
The Helmsley Trust sold its sublease leasehold at 112 West 34th St. and the leasehold at 1400 Broadway to Empire State Realty Trust, according to The Real Deal. Thus ends the chapter in New York real estate history that saw the Helmsley empire valued at $5 billion at the time of Harry Helmsley's death in 1997. Widow Leona began selling off Helmsley assets until her death in 2007.
The 25% stake in the 916,111-square-foot building at 1400 Broadway was sold for $77.5 million, while the 60.5% interest in the 762,927-square-foot 112 West 34th St. was traded for approximately $127 million.
The buyer, Empire State Realty Trust is a REIT managed by Helmsley's former partner Peter Malkin and his son Anthony. See story in The Real Deal.
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