Empire State Realty Trust transaction spree set to rage on

Tony Malkin is shuffling the deck of his property portfolio, one building at a time. Empire State Realty Trust is marketing 1359 Broadway for sale, the Commercial Observer reported. A source familiar with the listing told the publication that the 22-story, 486,000-square-foot property could go for $225 million, which would work out to $463 per square foot. The buyer would own the simple fee interest of the Garment District office property, which is at the corner of Broadway and 36th Street. There’s also no debt attached to the property, which could be a persuasive factor for any buyer. The property […]

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