By Lois Weiss
Like with many sales of prized Manhattan real estate, there’s a line forming line forming for the Empire State Building.
Two new suitors may be entering a growing bidding war for the iconic 102-story skyscraper — whose owners don’t want to sell it but have a fiduciary duty to consider all offers.
The latest to line up is Joseph Sitt of Thor Equities, who yesterday made an all-cash bid of “north of $2.1 billion,” according to his broker, Jason Meister of Avison Young.
This would top the $2.1 billion made by an unidentified Middle Easterner with the Pilevsky family’s Philips International and Joe Tabak of Princeton Holdings, revealed by The Post on Wednesday.
Another investor, David Bistricer, who is a part owner of the Sony tower, was identified by Crain’s as possibly preparing to make yet another offer for the Empire.
The bids first began rolling in last week when Rubin Schron, part-owner of the Woolworth Building, offered up $2 billion through Meister. Both Schron and Sitt would pay his fee, Meister said.
All the bidders so far also claim that to help seal the deal they would be willing to leave in the 2,800 small investors who have long-term stakes in the Empire State Building land.
The current operating partners and majority owners, Peter and Anthony Malkin and the Helmsley Estate, have been preparing to roll the property into a real estate investment trust along with 18 other properties. Some of the small investors are in court fighting that scheme.
Once the tower goes into the REIT, it could be more difficult to purchase.
The Malkins said in an SEC filing that they are reviewing all offers.
Original source: http://nypost.com/2013/06/28/2-more-offers-for-empire-tate-building/