Key Points:

  • Peter Malkin’s net worth of $85.2 million is largely attributed to his family connections and real estate investments.
  • His wife, Cynthia, inherited a substantial fortune from her father, Lawrence Wien, who owned the Empire State Building.
  • The Malkin family has built a real estate empire in New York City, with holdings in office and retail space.
  • Cynthia Malkin’s inheritance has also impacted her husband’s political career.

Who is the CEO of Empire State Realty Trust?

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Anthony E. Malkin has been the CEO of Empire State Realty Trust (ESRT) since 1989. Under his leadership, ESRT has grown to include a portfolio of 18 properties in New York City, including the Empire State Building.

Who Owns the Empire State Building Trust?

  • Peter Malkin is the largest shareholder of the Empire State Building Trust, with a 12.3% stake.
  • His son, Anthony Malkin, is the chairman, president, and CEO of the trust.
  • The trust has undergone significant modernization under Anthony Malkin’s leadership, including a $550 million renovation.

Key Facts:

  • Peter Malkin controls 12.3% of the Empire State Building Trust.
  • Anthony Malkin is the CEO of Empire State Realty Trust, which owns the Empire State Building and 18 other properties.
  • The Empire State Building has been modernized under Anthony Malkin’s leadership.

Historical Context:

  • The Empire State Building was purchased by the Empire State Building Associates in 1991, with Peter Malkin and Leona Helmsley as lead partners.
  • The building was listed on the National Register of Historic Places in 1986.

Modernization and Expansion:

  • Empire State Realty Trust has implemented sustainability initiatives and energy efficiency upgrades in its properties.
  • The company has invested in technology to enhance tenant experiences.
  • ESRT has the potential to expand its portfolio beyond Manhattan.

Additional Insights:

  • The Empire State Building is a popular tourist destination, attracting over 4 million visitors annually.
  • Its observation decks offer panoramic views of the city.
  • The building is a sought-after venue for events and weddings.