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  #221  
Old Posted May 27, 2008, 3:32 AM
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are they cleaning the outside of the ESB because alot of old building are being cleaned on the outside to make it look new
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  #222  
Old Posted May 27, 2008, 3:41 AM
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Great to see that they approached even the uniforms in such a meticulous manner. Makes the whole restoration sound very promising.
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  #223  
Old Posted May 27, 2008, 10:52 AM
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Great to see that they approached even the uniforms in such a meticulous manner. Makes the whole restoration sound very promising.

I like the typeface as well

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  #224  
Old Posted May 27, 2008, 8:21 PM
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i LOVE that building!! and the views from the deck are awesome!
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  #225  
Old Posted May 28, 2008, 8:00 PM
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http://ny.therealdeal.com/articles/e...-for-purchases

Empire State Building loan may be used for purchases



Empire State Building
By Adam Pincus

The real estate firm that controls the Empire State Building is asking the tower's investors to agree in principal to the purchase of additional real estate with funds obtained through a refinancing of the iconic tower, according to a financial statement.

In a filing yesterday with the U.S. Securities and Exchange Commission, real estate firm Wien & Malkin LLC sought consent from investors in Empire State Building Associates, which owns the tower and the land under it, to use funds from a refinancing to purchase property.

The firm wrote in its statement that financing for purchases would "exploit favorable buying opportunities" at a time when "highly leveraged investors can no longer buy property and may be forced to sell."

Thomas Keltner, general counsel of Wien & Malkin, which leads the Empire State Building Associates, said the firm would not comment.

In April, Peter Malkin, the chairman of Wien & Malkin, asked investors to sign off on $660 million in financing for an ambitious renovation. The loan would increase the debt load of the building by 10-fold from its current $60.5 million first mortgage.

The 2.7-million-square-foot building, the tallest in New York City, is valued at $2 billion, according to analysts. The refinancing is capped at 50 percent of the appraised value of the property held.

The building joined the W&H Portfolio in 2007. The firm controls nine office towers, including the Lincoln Building at 60 East 42nd Street, 250 West 57th Street, 1359 Broadway and 501 Seventh Avenue.

The Empire State Building was 78 percent leased as of May. New office leases range from $53 to $63 per square foot, up from $32 to $42 per foot the year before, the firm reported.

Wien and Malkin proposed a $625 million renovation in the filing, including a $13 million restoration of the landmarked lobby, a $53 million refurbishment of the observation decks and the consolidation of smaller spaces into entire floorplates, in an effort to increase rents.

Eric Anton, executive managing director with brokerage Eastern Consolidated, said the weakening property market made it a good time for the owners to use the building's equity to finance additional purchases.

"It sounds good to me, it makes a lot of sense," Anton said. "It is tax efficient and a good time to buy."

Arnold Bressler, a partner at the law firm Moses and Singer, which specializes in corporate and securities law and was not involved in the proposal, said the owners likely wanted to have equity to move quickly if an attractive property became available.

"This is a way for management to respond more flexibly to opportunities because this is a pretty cumbersome process," he said. "The real estate market would not necessarily allow for that kind of timetable."

The federal filing, known as a pre 14A, was submitted as a preliminary notice to shareholders about issues that will be voted on at a future shareholders meeting.
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  #226  
Old Posted May 29, 2008, 12:51 AM
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Yea no matter what that is one kick ass building with kick ass views.
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  #227  
Old Posted May 29, 2008, 2:44 AM
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are they cleaning the outside of the building i just need to know
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  #228  
Old Posted May 29, 2008, 3:20 AM
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The Empire State Building was 78 percent leased as of May. New office leases range from $53 to $63 per square foot, up from $32 to $42 per foot the year before, the firm reported.

Wien and Malkin proposed a $625 million renovation in the filing, including a $13 million restoration of the landmarked lobby, a $53 million refurbishment of the observation decks and the consolidation of smaller spaces into entire floorplates, in an effort to increase rents.
That's already a big jump in rents for the ESB. The renovation will only improve that, and this tower deserves to be one of the best.
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  #229  
Old Posted May 29, 2008, 4:34 PM
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Amazing. any shots from floors 101 and 102?

I visited the 102 obs. back in the late 80's.
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  #230  
Old Posted May 30, 2008, 12:00 AM
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are they cleaning the outside of the building i just need to know
I'm not sure, but I would just LOVE to see the Mast restored to its pristine condition! (But keep the antenna!! It's become too much of the "iconic" image of the ESB to be gotten rid of!)
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  #231  
Old Posted May 30, 2008, 1:01 PM
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(But keep the antenna!! It's become too much of the "iconic" image of the ESB to be gotten rid of!)
They're not going to get rid of the antenna.

BTW, here's Mariah at the ESB
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Last edited by NYguy; May 30, 2008 at 1:13 PM.
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  #232  
Old Posted May 30, 2008, 6:03 PM
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That antenna is where most of New York's media outlets broadcast their signals so it won't be coming down anytime soon.
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  #233  
Old Posted Jun 1, 2008, 7:41 PM
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I'm yet to go up it, will for sure the next time I go there.
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  #234  
Old Posted Jun 6, 2008, 3:22 AM
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http://weblogs.amny.com/entertainmen...on_friday.html

Mega Starbucks to open at Empire State on Friday



Work was under way Wednesday at the city's newest Starbucks, opening Friday at the Empire State Building.





Just when you thought the Seattle coffee chain couldn't possibly get a larger presence in New York, Starbucks goes and opens an outlet at the base of Gotham's most famous landmark. The coffee shop opens Friday on the West 34th Street side of the Empire State Building, with a grand opening celebration set for June 12.

Previously billed as New York's largest Starbucks, the store is now being described by the Edelman public-relations firm as one of the largest Starbucks in the city. It will also be one of the few locations in the city that is two stories.


-- Garett Sloane
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  #235  
Old Posted Jun 6, 2008, 4:49 AM
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New York City -The Starbucks capital of the World....though this one should have been located on the 86th floor
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  #236  
Old Posted Jun 6, 2008, 1:29 PM
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New York City -The Starbucks capital of the World....though this one should have been located on the 86th floor
If I'm not mistaken, there's already a Starbucks accross 33rd Street, or something like it. But now that they've taken over a chunk of ESB groundspace, they have arrived!
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  #237  
Old Posted Jun 6, 2008, 3:55 PM
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New York City -The Starbucks capital of the World....though this one should have been located on the 86th floor
No wonder it's the "City That Never Sleeps"!
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  #238  
Old Posted Jun 7, 2008, 3:54 AM
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We will probably see a Starbucks outlet at Freedom Tower also.
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  #239  
Old Posted Jun 8, 2008, 12:25 AM
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We will probably see a Starbucks outlet at Freedom Tower also.
You can't spell "Freedom" without "Starbucks"!

...Actually, You can. But Starbucks would like you to believe otherwise.
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  #240  
Old Posted Jun 8, 2008, 1:59 AM
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id never realized the rents at the ESB were so cheap compared to other spots in Midtown. Those office spaces should have been eaten up like hotcakes. There is an astonishing 594k sq feet of office space open
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