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The New York Observer

Malkin Has Grand $660 M. Plan for Empire State Building

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May 6, 2008 | 10:57 a.m.
<br /> (wallyg via flickr)
wallyg via flickr

$660 million, please.

The owner of the Empire State Building has a tall order -- a $660 million loan to renovate New York City's tallest building, according to a Bloomberg News article published in today's Boston Globe.

The idea, according to developer Peter Malkin, is to make the 102-story Art Deco masterpiece, long home to small tenants, more attractive to larger (and presumably more lucrative) ones.

This would be Mr. Malkin's second big rehab of the icon. InteriorDesign.net reported last April that the building's Shreve, Lamb and Harmon-designed lobby, with its gold and silver-leaf mural of the heavens, was also being restored.

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