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Wednesday, June 19, 2013

Rubin Schron, Orthodox Jewish Real Estate Mogul offers $2B for Empire State Building

New York - An attorney for a high-profile New York City real-estate mogul has made a $2B offer to buy the Empire State Building in a letter sent to the firm currently controlling the national landmark.

The REAL DEAL is reporting that, in a letter sent to the controlling firm Malkin Holdings on Tuesday, Stephen Meister, an attorney representing Rubin Schron and Cammeby’s International, said Schron is offering to put down a $50M non-refundable deposit upon receipt of a signed agreement, and hopes to close within 90 days.

Schron also pitched a a re-structuring option that would allow current owners to retain partial ownership of the building.

The proposal comes on the heels of a vote last month which saw a required 80% of the tower’s current investors approve the creation of a publicly traded trust for it and 20 other buildings.

Some reports estimate the tower’s worth at as much as $2.5B.

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