Empire State Realty Trust formally concludes rehab of Empire State Building observation deck

Empire State Realty Trust, on July 27, completed a $30.7 million rehab of several floors including the observation deck of the Empire State Building, in the Garment District. The city’s Department of Buildings officially signed off on the work on Monday. For its part, the REIT declared the entire $165 million renovation project done in December.

The plans, pre-filed on January 27, 2017, call for a rehab of floors 1, 2, 80, and 86 of the 1250-foot tall, 102-story, building.

The project is described in the filings as: general interior demolition and renovation of 1st, 2nd, 80th and 86th floors. General interior construction of observatory exhibit spaces. No change in use, egress or occupancy. The initial cost as reported in the DOB filing for the work described in this permit application is $30,748,338.

So far in 2020 there have been 19 A2 plans filed at the historic building. The most expensive was a $2,945,000 rehab of the 63rd floor, pre-filed on March 13.

In May of 2013, the Empire State Building’s shareholders approved the sale of the landmarked building to the public in an IPO valued at $4.2 billion. Peter L. Malkin and his son Anthony E. Malkin had controlled the property since 1961, when it was purchased by a group of nearly 3,000 entities created by Malkin Properties in a $65 million syndication deal.

Direct link to Acris document.LINK

Direct link to DOB document.LINK