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  • ESB Ownership
    • Questions about sales process and 50% split with sublessee. 4
    • Empire State Building and Sublessee 1961-2012: Changing views
    • $2.5 Billion Empire State Building Appraisal 6
    • Sublease >
      • "The supervisor has represented that historically, agreements have been entered into to share capital expenditure and financing costs"
      • Sublessee owners 7
      • Sublessee or Lessee 8
      • Is sublessee in a joint venture with Empire State Building? 9 empire state building ipo prospectus
      • Sublessee declines opportunity to become co-owner 10
      • Owner's relationship with sublessee is contractual 12
    • There is one owner of Empire State Building 11
    • Title to all of the improvements shall be in the Lessor 13
  • News
  • Lawsuits against Malkin Holdings L.L.C. since 3/1/12
    • 3/1/2012 First Class Action Lawsuit
    • 3/7/12 Second Class Action Suit
    • 3/12/12 Third Class Action Suit
  • SEC Rules
    • SEC rules
    • SEC rules 2
  • 3/16/12 SEC filing Empire State Building Associates
  • 4/4/12 SEC Filing EMPIRE STATE BUILDING ASSOCIATES L.L.C.
  • May 31 2012 Empire State Building Associates L.L.C. SEC Filing
  • How much is your ownership worth?
  • WSJ: High-Stakes Feud over Empire State Building
  • FORM OF PARTICIPATING AGREEMENT OF EMPIRE STATE BUILDING ASSOCIATES L.L.C.
  • No independent representative was retained to negotiate on behalf of the participants
  • S-4 Empire State Equity Trust February 13, 2012 14
  • definitions
  • continued from home page 15
  • Empire State Owners Go Ape Over IPO Tax Issues: Wall Street Journal April 8 2012
  • January 9, 2012 Answer to SEC inquiry
  • REITs Spring an Unnerving Surprise
  • Average Rent paid according to Malkin Holdings L.L.C.
  • Duties of Supervisor of Associates
  • Reuters: Empire State Building IPO change may help pay tax
  • Wall Street Journal: Tax Terms Amended in Empire State Building IPO
  • How to Ruin a Safe Bet; Did Rockefeller Center Financiers Reach Too Far?
  • May 31 2012 Helmsley Estate Driving Empire State Building IPO, Malkins Say
  • SEC May 11, 2012 :" "There are material risks and conflicts of interest associated with the consolidation."
  • Empire State Realty Trust, Inc. Lockup Agreement
  • Sublease or Lease
  • Shared Debt Obligation
  • Eliminating Two-Tier Ownership
  • Sublease renewals
  • June 9, 2008 Consent for Loan for Improvement Program
  • December 27, 1961 Lease Empire State Building Prudential Insurance Company and Empire State Building Associates
  • Lease renewals
  • June 8 2008 Loan for Improvements
  • June 9, 2008 Empire State Building Improvements Budget
  • $10 million REIT fees paid out 2011 Empire State Building IPO
  • 2011 Empire State Building Company LLC financials
  • SEC filing July 2, 2012 Empire State Building Associates L.L.C
  • ESBA number of participants
  • On August 6, 2012, Malkin Holdings L.L.C., the supervisor of Empire State Building Associates L.L.C. (the “Registrant”), provided the following to persons calling participants in the Registrant, to be used as a script for such calls:
  • SEC August 6, 2012 Empire State Realty Trust, Inc
  • Poll of ESBA participants
  • August 9, 2012 Legal Proceedings Empire State Building Associates 10Q
  • Columbia University Sublesse interest
  • August 9, 2012 SEC filing of New Risk Factor of More Lawsuits against Management
  • 2012: Observatory increased admission prices over 15%
  • Wells Notice
  • SEC Filing 8/24/12 "legally distinct from a joint venture"‏ malkin empire state sec filings
  • Empire State Realty Trust Empire State Realty Trust, Inc. Empire State Building IPO
  • Top ten reasons to Vote NO to sale of Empire State Building to REIT
  • Empire State Building Income
  • Page 1
  • Economic Joint Venture
  • 50/50 split
  • Empire State Building privately owned by Empire State Building Company?
  • S-4
  • 11/5/12 Settlement reached in Empire State Realty Trust suit
  • S-4 Red-lined version 11/2/12
  • Class Action Suit
  • Empire State Building Company Partnership Agreement
  • January 28, 2013 $800 Class Action Lawsuit Filed
  • REIT fees to ESBA investors
  • 1971 Sublessee Operating Agreement and Amendments
  • 1971 Empire State Building Company Participation Agreement
  • SEC 2/5/13 1971 Sublessee Empire State Building Company Participation Agreement
  • Top Ten Vote No
  • Sublease and improvements
  • Ex-Wien partner: Vote No to REIT
  • NYC's Towering TV Choice: 1 WTC Or Empire
  • Observatory
  • 1961 Empire State Building Associates Prospectus
  • A Yen for Yield Could Rock U.S. REIT
  • Law360
  • REfin Blog
  • Crain's New York: Bidders up ante at Empire State Bldg.
  • Crains New York: Another bidder moves to upset Empire St. Bldg. plan.
  • ESBA purchase of fee title 2001-2
  • Damage and Destruction:
  • ESBA land building cost percentages
  • Revman headed for Empire State Building
  • SL Green says private market will value ESB higher
  • Private market values exceed public market values
  • Thor makes second offer for Empire State Building
  • Empire State Building Investors Again Sue Owners Over IPO
  • Empire State Building Topless Model Lawsuit
  • Empire State Building $500 Million Lawsuit against Malkin Holdings
  • Investors Launch $600M Suit Over Empire State Building Deal
  • Law360: Report Details Malkin's Rebuff Of Empire State Bldg. Bids‏
  • Empire State Building Investor Appeals $55M Settlement
  • Empire State Building Investors Rip Owners Over Discovery
  • SEC Freedom of Information Act Exemptions
  • ESRT SEC filings comments and Malkin Holdings uploaded answers
  • ESRT SEC Indexed files
  • FREEDOM OF INFORMATION ACT (FOIA) Annual Report for Fiscal Year 2013 (October 1, 2012 through September 30, 2013)
  • Freedom of Information Appeal (FOIA) Resources
  • “MALKIN FAMILY CONTRIBUTORS” to REIT
  • FOIA Vaughn Index
  • sec-glomar-response-to-foia-request-for-copies-of-interviews-with-empire-state-building-investors
  • “[WE] CAN NEITHER CONFIRM NOR DENY THE EXISTENCE OR NONEXISTENCE OF RECORDS RESPONSIVE TO YOUR REQUEST”1 : REFORMING THE GLOMAR RESPONSE UNDER FOIA
  • SEC issues Glomar Response for ESRT-first since 2010
  • Glomar Response-Office of Government Information Services
  • Empire State Building $600 Million lawsuit against Peter Malkin and Tony Malkin
  • SEC FOIA Lawsuit for Empire State Building REIT records
  • Case 1:14-cv-01140 EDELMAN v. SECURITIES AND EXCHANGE COMMISSION Complaint
  • AGREEMENT BETWEEN MALKIN HOLDINGS LLC AND HELMSLEY ENTERPRISES, INC.
  • PARTNERSHIP AGREEMENTS and FORM OF PARTICIPATING AGREEMENT For Lincoln and Fish Buildings
  • Helmsley Management to self manage
  • SEC Division of Corporation Finance Staff Legal Bulletin No. 1 (with Addendum) "Confidential Treatment Requests"
  • Untitled
  • EDELMAN v. SECURITIES AND EXCHANGE COMMISSION-Case Assigned to Judge Rosemary M. Collyer. (md, )
  • About 20% of the people who were warned over a two-year period that they might be sued by U.S. regulators for allegedly violating securities law ended up not facing charges
  • justice.gov guide-freedom-information-act
  • September 19, 2013
  • September 5, 2013
  • August 12, 2013
  • December 21, 2012
  • December 17, 2012
  • October 19, 2012
  • October 10, 2012
  • October 5, 2012
  • September 24, 2012
  • September 13, 2012 file 1
  • September 13, 2012 file 2
  • September 10, 2012 file 1
  • September 10, 2012 file 2
  • September 5, 2012
  • August 27, 2012
  • May 8 , 2012
  • July 3, 2012
  • The OGIS Library Vaughn Index
  • FOIA Facts: Inside the Process of Preparing a Vaughn Index
  • Sample Vaughn Indexes
  • ESRT Equity Interests
  • SEC Vaughn Index Lawsuits
  • Gavin vs. SEC
  • GAVIN v. UNITED STATES SECURITIES EXCHANGE COMM., Civil No. 04-4522 (PAM/JSM). , at 4 (D. Minn. Oct. 13, 2006)
  • Empire State Realty Trust Ownership
  • Improvements ownership
  • Therefore, each of Associates and Lessee will ultimately bear one-half of the cost of the improvement program
  • CF Memo
  • SEC Is Steering More Trials to Judges It Appoints
  • 10/20/14 Activity in Case 1:14-cv-01140-RMC EDELMAN v. SECURITIES AND EXCHANGE COMMISSION Order
  • NYC Rooftop RF Options Widen
  • H.R.1211 - FOIA Act
  • Exemption 5
  • Exemption 6
  • 11/10/14 ESRT Update on Lawsuits
  • SEC: How Investigations Work
  • SEC FOIA Exclusions
  • SEC FOIA Requests November 2014
  • FOIA Glomar response conversion to The (c)(1) Exclusion
  • Law360: Empire State Building Investors Launch Another Suit Over IPO
  • 2/17/15: PLAINTIFF’S MEMORANDUM OF LAW IN OPPOSITION TO DEFENDANT'S MOTION FOR SUMMARY JUDGMENT AND IN SUPPORT OF PLAINTIFF’S CROSS MOTION FOR SUMMARY JUDGMENT
  • ESB SEC FOIA Requests Updated List
  • ESB SEC FOIA Requests Updated List March 2015
  • 04/17/15 RICHARD EDELMAN, ) Plaintiff, ) ) v. ) Case No. 1:14-CV-1140 (RDM) ) SECURITIES AND EXCHANGE ) COMMISSION, ) Defendant.
  • Malkin attorneys FOIA requests for ESB investigation files rebuffed by SEC
  • ESRT SEC Enforcement Investigation File
  • FOIA Lawsuit San Diego
  • Malkin Holdings lawyers Dewey Pegno SEC FOIA requests Empire State Building
  • Federal Court to Rule on release of SEC ESRT-Malkin Holdings Investigation Files
  • Peter Malkin Tony Malkin Lose Empire State Building Case Ruling
  • Malkin Holdings, Peter Malkin and Tony Malkin lose counterclaim ruling in Empire State Building Arbitration case.
  • Federal Court to rule on release of SEC ESRT Malkin Holdings ​Empire State Building investigation files.
  • SEC FOIA Lawsuit Empire State Realty Trust Malkin Holdings Consumer Complaints
  • Empire State Realty Trust Income Tax Treatment according to Malkin Holdings LLC
  • February 20, 2013 Re: In re Empire State Realty Trust, MNY-08894
  • SEC 662
  • SEC lawyers Empire State Building sale notes from calls and meetings with Malkin Holdings managers ordered released by Federal Judge
  • Malkin answer to SEC about unauthorized renewal of Empire State Building Master Lease
  • "SEC Ordered To Turn Over Empire State REIT Docs Index"
  • Empire State Building Department of Justice FOIA ruling Malkin Holdings
 

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      or Empire State Realty Trust, Inc.)
                                         


Learn More By Clicking Underlined Words



​January 30, 2016:  
Malkin Holdings, Peter Malkin and Tony Malkin lose Empire State                                                      Building Arbitration Case Ruling


                                 

Key Documents

Lazard Report Private Sale vs. REIT    page 15 Benefits
SEC-Malkin Letters: "... could not successfully deny that you had a fiduciary duty to the Participants"
Empire State Building Discounted Cash Flow Exhibit 99.49:                                NOI $160 Million in 2015
Revised Empire State Building Discounted Cash Flow Exhibit 99.59:                 NOI $136 Million in 2015
AGREEMENT OF EMPIRE STATE BUILDING ASSOCIATES L.L.C:               Owner of Empire State Building Fee Title
Empire State Building Master Lease                               Owned by Empire State Building Associates L.L.C.
FIRST MODIFICATION OF MASTER LEASE
SECOND MODIFICATION OF MASTER LEASE
Sublease Empire State Building             Contract to Manage Building (Helmsley Trust ownership 63.75%) 
Sublease Participating Agreement
Sublease Operating Agreement
Discounted Cash Flow for Empire State Building (page 12)   
Ex-Wien Partner:  Vote No to REIT.   Click here:  for letter to ESBA Investors and SEC
Empire State Building Associates partnership agreement
Stipulation of Settlement ESRT Class Action Lawsuit  September 2012
Peter Malkin INDEMNIFICATION AGREEMENT
Anthony Malkin INDEMNIFICATION AGREEMENT
Thomas Keltner INDEMNIFICATION AGREEMENT



SEC comment letters to Malkin Holdings concerning ESRT &  Malkin Holdings  answers  


SEC Freedom of Information (FOIA) Document Requests


11/24/14: June 6. 2014 FOIA records request ready for review.
                    Emails between the SEC and Empire State Building Associates LLC and their                                    representatives. Emails between SEC employees that discuss phone conversations                            with Empire State Building Associates LLC representatives.

11/11/14:   SEC Division of Enforcement Case Opening Report and Case Closing
                     Recommendation in the matter of Empire State Realty Trust

11/12/14:   In the matter of Empire State Realty Trust, all instructions from                                                             Division of Corporate Finance Office Enforcement Liaison (OEL) to                                                     review team concerning tips and consumer complaints

11/13/14:   DOC_DATE: 11/1/13-3/1/14
                      TYPE: Consumer complaints
                      COMMENTS: Communications of any nature to/from Division of Corporate                                     Finance Office Enforcement Liaison (OEL) in the matter of Empire State Realty                               Trust, Inc.   



10/20/14:  Washington D.C. Federal Judge orders SEC to provide withheld                                         ESRT/ESBA document list for court review prior to release.  click here 


9/30/14:  SEC releases 2,034 pages of ESRT/ESBA records sought in FOIA Federal                      Lawsuit  
                    
                   SEC internal Memo:  "Throughout the course of our nearly two-year                                                                           review of these transactions, we received hundreds                                                               of complaints and phone calls from many investors."

                        
              July 3, 2014: SEC FOIA lawsuit filed in Federal District Court.  click here



1. Redacted investor complaints and interviews during SEC review process for ESRT.
4/30/14: SEC Glomar response to above Freedom of Information request.  Click here
                         What is a Glomar response?  click here
                         This is first Glomar letter issued by SEC in four years.  click here
6/18/14:  Under FOIA law, jurisdiction shifts from SEC General Council to Federal District                             Court. 
               


2. SEC communications with Malkin Holdings concerning Proxy Solicitation with material false       information.
4/30/14:  SEC General Council Office issues Remand order to SEC FOIA Office.
5/30/14:  SEC FOIA Office deadline to cure default under Remand order passes with no action.
 

3. SEC Enforcement Liaison communications about missing or never filed Sublease for Empire        State Building.
4/30/14:   SEC General Council Office issues Remand order to SEC FOIA Office.
5/30/14:  SEC FOIA Office deadline to cure default under Remand order passes with no action.
 
 
4. List of all documents submitted by Malkin Holdings under SEC confidentiality provisions.
4/30/14:   SEC General Council Office issues Remand order to SEC FOIA Office.
5/30/14:  SEC FOIA Office deadline to cure default under Remand order passes with no action.


5. All communications to SEC concerning ESRT from Governmental officials other than SEC employees .
 5/9/14: Appeal to SEC General Council Office for SEC FOIA Office failure to respond.
 





All 2013-14 ESBA $600 Million Class Action Lawsuit Court Filings  click here

3/14/14: Appeal of Original 2012 ESRT/ESBA Class Action Lawsuit
4/6/14:  Malkin Holdings/Helmsley Trust Brief 
                Original Class Action Lawyers Brief in Opposition to Appeal
4/25/14: Reply Brief






        
  1. Contact
  2. Empire State Building Ownership 
  3. Questions about sales process and 50% split with sublessee. 
  4. Empire State Building and Sublessee 1961-2012: Changing views 
  5. $2.5 Billion Empire State Building Appraisal
  6. Who owns Sublessee
  7. Is the Sublessee a Lessee?
  8. Is Sublessee in a joint venture with Empire State Building?
  9. Sublessee declines opportunity to become co-owner
  10. There is one owner of Empire State Building.
  11. Owner's relationship with sublessee is contractual
  12. Title to all of the improvements shall be in the Lessor 
  13. S-4 Empire State Realty Trust February 13, 2012, page 154 
  14. Continued from Home page
  15. "No independent representative was retained to negotiate on behalf of the participants."
  16. How much is your ownership in the Empire State Building worth?
  17. "The supervisor has represented that historically, agreements have been entered into to    share capital expenditure and financing costs" 
  18. Anthony Malkin ESRT CEO only TV interview during REIT Vote.  click here

News Stories

Security Exchange Commission (SEC), Washington D.C. Documents:
  1. February 2, 2012  :Sublease contract missing or never filed by Empire State Building Associates L.L.C.  SEC Freedom of Information Act finding.
  2. February 13, 2012: SEC S-4 Empire State Equity Trust, Inc. 
  3. SEC 3/16/12:  "You may be contacted before the voting process begins by dissident investors.  They are free to do this at any point."
  4. SEC 4/4/12:  "Under the consents we have received to date, we must close the consolidation         and conclude the initial public offering and listing of the Class A common stock on the New  York Stock Exchange (or another national securities exchange) no later than December 31,  2014."
5.     SEC 5/11/2012:  "There are material risks and conflicts of interest associated with the
        consolidation. You should carefully review the sections entitled “Risk Factors” and  
        “Conflicts of Interest” in the preliminary filing of the Form S-4 which has been filed 
         with the SEC."
6.     SEC 5/31/2012:  "The status quo will not continue. Unavoidable, material change is coming,
       driven by the requirement for the executors under Leona Helmsley’s will to sell her estate’s
       ownership interests in properties supervised by Malkin" Holdings."
7.    SEC 7/2/2012:  We are pleased inform you that we have developed a new structure that 
       would give you the option to defer any tax that could be triggered by the proposed 
       consolidation.  The new structure is unique, never used before..... 
8.     SEC 8/6/2012:  On August 6, 2012, Malkin Holdings L.L.C., the supervisor of Empire State Building  

        Associates L.L.C. (the “Registrant”), provided the following to persons calling participants in the  
        Registrant, to be used as a script for such calls:
9.    SEC 8/7/2012:  We believe certain individuals are creating an environment of confusion through 
        incorrect statements about ESBA and our proposed consolidation of properties and initial public 
        offering  (“IPO”). We thought it would be useful to present here in brief Q&A format important  
        matters which are necessary to understand our proposal and are in the Form S-4 currently in review
        with the SEC.
10.   SEC 8/9/2012 There is a risk that other third parties will assert claims against the Defendants,  
         including, without  limitation, that the Defendants breached their fiduciary duties to participants or that 
            the consolidation violates the relevant operating agreements, and third parties may commence 
            litigation against the Defendants. 
11.   SEC 8/13/2012 Empire State Building Master Lease
12.   SEC 8/13/2012 Long term Discounted Cash Flow for Empire State Building, page 12
13.   SEC 8/24/2012 "While legally distinct from a joint venture, the structure has the economic  
        attributes of a 50/50 joint venture (“JV”). The entities always functioned economically like a 50/50
       JV, as described in Exhibit A".
14.   SEC 11/2/12 AMENDMENT NO. 4 TO FORM S-4
15.    SEC 11/9/12  "Two individuals, Richard Edelman and Steven Edelman, each a beneficiary of a trust established by his family that holds interests in ESBA, and others with whom they have been working, have created what we believe to be an environment of confusion through incorrect and misleading statements about our proposed consolidation and initial public offering (“IPO”). This letter is to assist in correcting such statements."
16.   SEC 12/17/12  AMENDMENT NO. 5 to FORM S-4
17.   SEC 12/17/12  EMPIRE STATE REALTY TRUST, INC FULL FILING
18.   SEC 12/21/12   AMENDMENT NO. 6 to FORM S-4
19.    SEC 12/21/12  EMPIRE STATE REALTY TRUST, INC FULL FILING
20.    SEC  12/24/12  NOTICE OF EFFECTIVENESS
21.    SEC  2/5/13  1971 Sublessee Empire State Building Company Operating Agreement with Amendments
22.   SEC   2/5/13   1971 Sublessee Empire State Building Company Participation Agreement
 

Lawsuits 
January 28/29th 2013: $800 Million ESBA Class Action Suit Filed against Malkin Holdings
November 2, 2012  News Article and Settlement proposal Empire State Realty Trust

June 26, 2012: Class Action Motion to Consolidate and Appoint Lead Counsel

1.  March 1, 2012 First Class Action Suit 
2.  March 7, 2012  Second Class Action Suit
3.  March 12, 2012 Third Class Action Suit
4.  March 14, 2012 Fourth Class Action Suit
5.  March 19 2012 Fifth Class Action Suit

6.  January 28/29 2013 Sixth/Seventh Class Action Suit





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