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Empire State Building company history timeline

1961

We’re not empty now; we’re over 90% leased,” says Anthony E. Malkin, chairman and CEO of the building’s current ownership group, the Empire State Realty Trust, Inc., whose grandfather was one of the men involved in the 1961 syndicate.

1963

After enduring a brief but grueling stint as a Bunny in Manhattan's Playboy Club, feminist writer Gloria Steinem published the first half of her landmark account, "A Bunny's Tale," in SHOW magazine on May 1, 1963.

1966

Crown served as a director of that company until he was forced out in 1966, when the chief executive redeemed Crown’s controlling stock.

1967

By 1967, the skyscraper could no longer claim the distinction of being the world’s tallest building.

1970

It was the tallest building in the world for 41 years until the World Trade Center’s North Tower was completed in 1970.

1972

On May 1, 1972, Mexican-American labor organizer and civil rights activist Cesar Chavez begins a hunger strike.

In 1972, the Empire State Building lost its title as world’s tallest building to New York’s World Trade Center, which itself was the tallest skyscraper for but a year.

1981

The building received its own zip code in 1980. Its 50th anniversary was celebrated in May 1981.

1986

A few years later, when the company experienced financial difficulties, Crown returned and served as honorary chairman until 1986.

1990

Over $50 million was invested in renovations to the Empire State Building in the mid-1990’s.

1991

1991 Prudential sells the building’s title for $42 million to Oliver Grace Jr., who was secretly acting on behalf of Hideki Yokoi, a Japanese hotelier then serving a prison sentence in connection with a deadly fire at one of his hotels.

1992

After the United States Department of Justice and several disability rights groups filed a lawsuit in 1992, the skyscraper’s observation deck was remodeled so that it was more accessible for people with disabilities.

1993

The hit romantic comedy Sleepless in Seattle (1993) makes direct reference to An Affair to Remember and has Meg Ryan and Tom Hanks’s characters finally meet atop the Empire State Building observatory deck.

1994

The observatories receive millions of visitors each year, and, beginning in 1994, an annual contest offered couples an opportunity to win an exclusive wedding ceremony on Valentine’s Day at the 86th-floor observatory.

1995

In 1995, as part of a $300 million advertising campaign, the Empire State Building was lit up in blue, red, green, and yellow to celebrate the release of Microsoft's Windows 95 operating system.

2001

When the North Tower fell on September 11, 2001, the Empire State Building once again became the tallest building in New York City.

2002

On May 1, 2002, former NBA All-Star Jayson Williams was indicted on a series of charges, including aggravated manslaughter, in connection with the shooting death of limousine driver Costas Christofi at Williams’ estate on February 14.

Yokoi and Trump sold their ownership shares in the land to the Empire State Building Associates in 2002.

2004

Security issues became a growing concern after the 9/11 terrorist attacks on the World Trade Center, but the Empire State Building still brought in over 3 million visitors in 2004.

2006

2006 The Malkins wrest control of the property from Helmsley-Spear.

2007

The American Institute of Architects’ List of America’s Favorite Architecture ranked it #1 in its 2007 volume.

2008

2008 The owners embark on a $550 million upgrade of the tower and begin replacing hundreds of small tenants with higher-paying corporate tenants like Skanska, Lufthansa and LinkedIn.

2010

Another $500 million was spent on remodeling and renovations in the 2010’s.

2012

In 2012 a new LED lighting system was installed that allowed the building to exhibit millions of colours.

2014

The new business, headed by Anthony Malkin, assumed ownership in 2014.

2020

Amid the spread of COVID-19, many of the building’s tenants, like those of other office buildings around the city and world, have closed their offices: The New York Times reports that 14% of offices in midtown Manhattan were vacant as of December 2020.

Among skyscrapers completed in 2020 is the world’s tallest residential building, the 1,550-ft.-tall Central Park Tower.

2021

With a construction cost of $41 million – an amount equal to $664 million when adjusted for inflation in 2021 – it took only 410 days to complete.

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Founded
1961
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Headquarters
New York, NY
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Empire State Building competitors

Company nameFounded dateRevenueEmployee sizeJob openings
Empire State Realty Trust2011$767.9M50027
Edgewood Properties1992$2.8M5058
Housemaster-$5.9M2026
Portside Real Estate Group2012$3.1M111-
Court Stret Center Associates Inc-$690,00050-
Douglas Elliman Property Management1911$25.0M5213
Park Hill Apartments LLC1999$580,00050-
Koury1952$320.0M1,400-
Maureen Shandobil - Harbor Bay Realty-$1.4M15-
Downtown Holdings LLC2000$990,0005030

Empire State Building history FAQs

Zippia gives an in-depth look into the details of Empire State Building, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Empire State Building. The employee data is based on information from people who have self-reported their past or current employments at Empire State Building. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Empire State Building. The data presented on this page does not represent the view of Empire State Building and its employees or that of Zippia.

Empire State Building may also be known as or be related to Empire State Building, Empire State Building Associates LLC, Empire State Building Company L.L.C. and Empire State Building Company LLC.