Hi Croy,
I was curious about the ownership of the ESB so I did a quick search.
Here's what I found.
Also, nothing turned up on "Partin" AND "land lease" AND "New York
City". There is a lot on just "Partin" AND "New York City" which I
didn't look at.
Heres a bit from a recent NY State Supreme court case, which gives
some history on the ownership of the Empire State Building and land.
http://www.courts.state.ny.us/nycdlr/issue2-2/Studley9.HTM
Prior to 1961, The Prudential Insurance Company of America
("Prudential") owned the land on which the Empire State Building is
situated and the Crown family of Chicago leased the land and owned the
building. Then in 1961, Lawrence A. Wien, of the predecessor firm to
Wien Malkin & Bettex ("WMB"), along with his law partners, Henry W.
Klein and defendant Malkin formed Associates. Associates acquired the
fee title to the building and the land lease from the Crown family for
$65 million. It immediately conveyed the building title to Prudential
for $29 million and Prudential leased back to Associates the entire
property comprised of both the land and building. The lease with
renewals will extend to the year 2076. Associates then subleased the
entire property through 2076 to Empire State Realty Company
("Company") another partnership formed by Wien and Harry Helmsley,
which partnership was to manage and operate the building. |