Real Estate Portfolio ¦ New York
Empire State Building
Towering over 5th Avenue and W 34th St, this iconic 102-story skyscraper is named after New York state's nickname, the Empire State. The Empire State Building is both a landmark and a contemporary attraction. In 1994, the land under the building, which at the time was encumbered by a long term lease, was acquired for a reported $42 million by Japanese billionaire Hideki Yokoi, and later transferred to the Trump Empire State Partners, a joint venture of Donald J. Trump and a member of the Yokoi family. Mr. Trump envisioned a grand residential development within the building. On March 18, 2002, Empire State Land Associates, the partnership headed by Peter L. Malkin, purchased the land from Trump Empire State Partners for $57.5 million.