Peter L. Malkin

Last updated
Peter L. Malkin
Born
Peter Laurence Malkin

(1934-01-14) January 14, 1934 (age 90)
New York City, U.S.
NationalityAmerican
EducationB.A. Harvard College
J.D. Harvard Law School
OccupationReal estate investor
SpouseIsabel Wien
ChildrenCynthia Malkin Blumenthal
Scott David Malkin
Anthony Edward Malkin
Relatives Lawrence Wien (father-in-law)
Richard Blumenthal (son-in-law)
Matt Blumenthal (maternal grandson)

Peter L. Malkin (born January 14, 1934) is an American real estate investor and chairman emeritus of Empire State Realty Trust and Malkin Holdings. [1]

Contents

Biography

Born to a Jewish family, [2] Malkin graduated with an A.B. from Harvard College (summa cum laude, Phi Beta Kappa) in 1955; and in 1958, he graduated with a J.D. from Harvard Law School (magna cum laude). [3] In 1958, he joined the law firm of his father-in-law Lawrence Wien as a partner (renamed Wien & Malkin LLP). [4] His father-in-law had pioneered the concept of real estate syndicates in 1930s making the direct ownership of income property accessible to groups of individual investors for the first time. [5] Malkin helped to expand Wien's already substantial portfolio, which included many prominent New York City buildings including the Empire State Building (which they jointly bought in 1961 with Harry Helmsley from Henry Crown), [6] the Equitable Building, the Graybar Building, the Fisk Building, the Garment Centre Capitol Building, the Toy Center, and the Lincoln Building at One Grand Central Place. They also bought many prominent hotels including the Plaza Hotel, the Taft Hotel, Hotel St. Moritz, the Lexington Hotel, and the Hotel Governor Clinton. [7] Malkin also helped to expand the firm's activities to Newark, Palm Beach, Philadelphia, Los Angeles, Minneapolis, and Las Vegas. [7]

In 2013, Peter Malkin and his son Anthony raised $930 million from the secondary offering and IPO of 18 buildings in their portfolio including the Empire State Building. Peter Malkin became chairman emeritus and Anthony became chairman, president, and CEO. The new publicly traded entity is named the Empire State Realty Trust (ticker ESRT). [8] Prior to the IPO, the family firm, Wien and Malkin, was renamed Malkin Holdings. [9]

Philanthropy, boardships, and awards

Malkin is the founding chairman of the Grand Central Partnership, Inc. and of the 34th Street Partnership, Inc.; and a founder and director of The Fashion Center Business Improvement District. Malkin is co-chair of the Real Estate and Construction Council of Lincoln Center for the Performing Arts, Trustee Emeritus and co-chair of Trustee Emeritus Council of Lincoln Center for the Performing Arts, co-chairman emeritus of the Real Estate Council of the Metropolitan Museum of Art, founder and chairman emeritus of the Dean's Council of the John F. Kennedy School of Government at Harvard University, co-founder and honorary co-chair of the Committee Encouraging Corporate Philanthropy, a director emeritus of U.S. Trust Corporation, a member of the board of advisors for Bank of America Global Wealth Investment Management, a vice president and director of the Realty Foundation of New York and a partner in the New York City Partnership, a governor emeritus of the Real Estate Board of New York, a former member of the Mayor's Business Advisory Committee during the administration of Mayor Rudolph Giuliani, and former member of the Board of Overseers of Harvard College; the recipient of 3 National Honor Awards, trustee emeritus and chairman of the Council of the National Trust for Historic Preservation. [10] Malkin is the founder of Merritt Parkway Conservancy, Greenwich Tree Conservancy and Greenwich Green & Clean, all non-profit organizations based in Connecticut.

Malkin has served on 15 different committees at Harvard University, and Harvard's Indoor Athletic Building was renamed the Malkin Athletic Center in 1986 in honor of his $4M donation to renovate it. [11]

In 2012, he was awarded the Jack D. Weiler Award by the United Jewish Appeal of New York. [2] Malkin also served as vice president of Federation of Jewish Philanthropies. [2]

Personal life

He is married to Isabel Wien, daughter of real-estate investor Lawrence Wien. They have three children: their daughter, Cynthia Allison Malkin, is married to Richard Blumenthal, who was elected a United States senator from Connecticut in 2010; [12] son Anthony Edward Malkin is married to Rachelle Lisa Belfer, granddaughter of Arthur Belfer, at Temple Emanu-El in Manhattan; [13] and son Scott David Malkin is married to Laura Rice Russell [14] and became a co-owner of the New York Islanders in 2014. His grandson, Matt Blumenthal is currently a Connecticut State Representative serving the 147th District of Connecticut.


Related Research Articles

<span class="mw-page-title-main">One Grand Central Place</span> Office skyscraper in Manhattan, New York

One Grand Central Place, originally the Lincoln Building, is a 55-story, 673 feet (205 m) tall neo-Gothic office building at 60 East 42nd Street in Midtown Manhattan, New York City. It is bounded by Madison Avenue to the west, East 41st Street to the south, and Park Avenue to the east. One Grand Central Place is near other skyscrapers such as the Chrysler Building, MetLife Building, and One Vanderbilt. It has direct in-building access to Grand Central Terminal to the north. As of 2021, it is the 91st-tallest building in the city, tied with the 277 Fifth Avenue, Barclay Tower, and One Court Square. The building is assigned its own ZIP Code, 10165; it was one of 41 buildings in Manhattan that had their own ZIP Codes as of 2019.

Bruce Ratner is an American real estate developer, philanthropist, and former minority owner of the NBA's Brooklyn Nets.

Lawrence Arthur Wien was an American lawyer, philanthropist, and real estate investor. Wien pioneered the concept of real estate syndicates.

<span class="mw-page-title-main">Marc Brickman</span> American designer (born 1953)

Marc Brickman is an American artist, director, producer, lighting designer and production designer. His visuals for Pink Floyd are iconic, and have reached audiences of millions world-wide. Often described as "groundbreaking", Marc's work includes productions for Paul McCartney, The Barcelona and Nagano Olympics Ceremonies, Cirque du Soleil, Blue Man Group, David Gilmour, Nine Inch Nails, John Mayer, Keith Urban, Barbra Streisand, Black Eyed Peas, Roger Waters, Whitney Houston, Slipknot, Bruce Springsteen, Yumi Matsutoya, Composer Hans Zimmer's Concert Series and Yusuf Islam, among hundreds of others.

Robert Valentine Tishman was an American real estate developer who was head of the family-owned firm Tishman Realty & Construction until it was disestablished in 1977, and was one of the two founding partners of Tishman Speyer, which was formed in 1978 and became one of the largest owners and builders of office buildings in the United States.

<span class="mw-page-title-main">15 Penn Plaza</span> Proposed skyscraper in Manhattan, New York

15 Penn Plaza, also known as PENN15 and Vornado Tower, is a planned office tower to be constructed by Vornado Realty Trust on Seventh Avenue between 32nd and 33rd Streets in the Midtown Manhattan neighborhood of New York City. The building, designed by Foster and Partners, will contain 430 units on 61 floors and 2,050,000 square feet (190,000 m2) of floor space as well as passageways to the adjacent Pennsylvania Station, 34th Street–Herald Square station, and the 33rd Street terminal of the PATH. Despite only having 61 floors, it is planned to be 1,270 feet (390 m) tall, 20 feet (6.1 m) taller than the mooring mast or spire of the Empire State Building two blocks east. The timing of construction will be dependent on market conditions. Vornado is currently exploring using the site for "fashion shows or other temporary uses" until market conditions warrant construction of the building.

Michael D. Fascitelli is an American businessman. He is a member of the Vornado Realty Trust board of trustees and former CEO and president of the company before stepping down from day-to-day responsibilities on February 26, 2013. He is a co-owner of the Milwaukee Bucks, and in 2017 founded a $500 million SPAC, Landscape Acquisitions, with Noam Gottesman where they both serve as co-chairman. Since stepping back from day-to-day responsibilities at Vornado, Fascitelli has formed MDF Capital, a family-office investment firm, Landscape Acquisitions, a hospitality and real estate focused SPAC, and Imperial Companies. He serves on the board of real estate technology startup Cadre.

<span class="mw-page-title-main">Robert A. Futterman</span> American real estate investor and author (1928–1961)

Robert Allen Futterman (1928–1961) was an American real estate investor, developer, author, and founder of the Futterman Corporation – a publicly traded New York-based real-estate holding and development company, which he built into a $100 million nationwide enterprise prior to his sudden death in November 1961 at age 33.

Edward Alexander Mermelstein is New York City’s Commissioner for International Affairs. He is also an attorney, financial investment advisor, media pundit and real estate developer.

<span class="mw-page-title-main">Barry Sternlicht</span> American businessman

Barry Stuart Sternlicht is an American billionaire and the co-founder, chairman, and CEO of Starwood Capital Group, an investment fund with over $100 billion in assets under management. He is also chairman of Starwood Property Trust. He is the founder of Starwood Hotels and Resorts Worldwide and served as its Chairman and CEO from 1995 to 2005. As of May 2023, his net worth was estimated at $4.6 billion.

Richard Alan Baker is an American business executive. He is the Governor, CEO, and Executive Chairman of Hudson's Bay Company (HBC) and executive chairman of each of HBC's eight portfolio companies. He is also the owner of National Realty and Development Corp. (NRDC), a US-based private real estate development and investment company, and is the Chairman of the Retail Opportunity Investments Corp. (ROIC), a public real estate company.

Robert S. Taubman is an American businessman. He serves as the current chairman and chief executive officer of Taubman Realty Group.

<span class="mw-page-title-main">Charles S. Cohen</span> American distributor and real estate owner

Charles S. Cohen is an American real estate developer and film distributor.

<span class="mw-page-title-main">Nicholas Schorsch</span> American businessman

Nicholas Sloan "Nick" Schorsch (born March 2, 1961) is an American billionaire entrepreneur, investor, and philanthropist. Schorsch is the chairman, CEO, and co-founder of the investment services firm VEREIT.

<span class="mw-page-title-main">Hamid Moghadam</span> Iranian-American business executive and philanthropist

Hamid Moghadam is an Iranian-American business executive and philanthropist. In 2011, Moghadam orchestrated the combination between AMB, a firm he co-founded in 1983, and ProLogis to create Prologis, the largest logistics real estate company in the world. Moghadam currently serves as Prologis Chairman and CEO, with Prologis operating as a global logistics real estate investment trust (REIT) and S&P 100 company.

Scott David Malkin is the founder of Value Retail Plc and co-owner of the New York Islanders professional hockey team.

Bernard Hyman Mendik was an American real estate developer, founder of the Mendik Company, and chairman of the Real Estate Board of New York.

Brown Harris Stevens is an American real estate service company headquartered in New York City with offices across the East Coast serving Connecticut, New Jersey, the Hudson Valley, the Hamptons, Palm Beach, and Miami. The original firm was founded in 1873. It is primarily known for its real estate brokerage and management divisions that have catered to wealthy buyers and sellers.

Robert Alexander Belfer is an American oilman and philanthropist who is known for his stake in Enron and is the namesake of Belfer Center for Science and International Affairs at Harvard Kennedy School.

References

  1. ↑ The Martindale-Hubbell Law Directory. Martindale-Hubbell Law Directory. 1993. ISBN   1561600490.
  2. 1 2 3 "Peter Malkin Honored at Real Estate Division Event" June 6, 2012 | "You've shown how UJA-Federation inspires us to act on our Jewish values to strengthen our community and our world through charity, repairing the world, and acts of kindness.
  3. ↑ Leaders Magazine: "Malkin’s Mission - An Interview with Peter L. Malkin, Chairman, Malkin Holdings LLC and Malkin Properties" April 2, 2011
  4. ↑ Forbes: "Value Retail's Scott Malkin and Father, Malkin Holdings' Peter Malkin: Is Entrepreneurship Inherited?" May 6, 2011
  5. ↑ "Great real estate families". Real Estate Weekly . August 20, 2005 – via The Free Library.
  6. ↑ New York Times Dealbook: "I.P.O. for Empire State Building Wins Backing of Shareholders" by Julie Creswell May 29, 2013
  7. 1 2 New York Times: "Lawrence A. Wien, 83, Is Dead; Lawyer Gave Millions to Charity " by ALFONSO A. NARVAEZ December 12, 1988
  8. ↑ CNN Money: "Empire State Building IPO disappoints" by Hibah Yousuf October 2, 2013
  9. ↑ New York Times: "The 30-Minute Interview: Anthony E. Malkin" by VIVIAN MARINO September 18, 2009
  10. ↑ Citation error. See inline comment how to fix. [ verification needed ]
  11. ↑ "Facilities".
  12. ↑ New York Times: "Miss Malkin Plans Bridal" November 29, 1981
  13. ↑ New York Times: "Shelly Belfer Marries Anthony Malkin" August 28, 1987
  14. ↑ New York Times: "S.D. Malkin, Miss Russell Plan to Wed" January 22, 1984
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.