{"id":1004456800,"date":"2020-06-17T06:13:45","date_gmt":"2020-06-17T14:13:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004456800"},"modified":"2020-06-17T06:13:45","modified_gmt":"2020-06-17T14:13:45","slug":"empire-state-realty-trust-president-steps-down","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/","title":{"rendered":"Empire State Realty Trust President Steps Down"},"content":{"rendered":"<div id=\"attachment_1004384798\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004384798\" data-attachment-id=\"1004384798\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/manhattan-office-leasing-jumped-45-in-q4\/manhattan-empire-state-building\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Manhattan-Empire-State-Building\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Manhattan. &lt;i&gt;Image courtesy of JaxsonD via Wikimedia Commons&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg?w=800\" class=\"wp-image-1004384798 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004384798\" class=\"wp-caption-text\"><i>Image courtesy of JaxsonD via Wikimedia Commons<\/i><\/p><\/div>\n<p>The New York-based REIT that owns the <a href=\"https:\/\/www.commercialsearch.com\/news\/linkedin-boosts-empire-state-building-lease\/\">famed Empire State Building<\/a> is changing up its leadership.<\/p>\n<p>Current Empire State Realty Trust President &amp; Chief Operating Officer John Kessler will step down from his role <em>\u201cin an orderly transition\u201d<\/em> while current CEO &amp; Chairman Anthony Malkin, grandson of the founder of the company, will take over as president, according to a company press release.<\/p>\n<p>Kessler joined ESRT in 2015 as president &amp; COO. Previously, he was a managing director at Fortress Investment Group and spent several years in different capacities at Morgan Stanley Real Estate.<\/p>\n<hr>\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/how-safe-office-reopening-strategies-are-reshaping-leases\/\">How Safe Office Reopening Strategies Are Reshaping Leases<\/a><\/p>\n<hr>\n<p>In his absence, the role of COO will not be filled, according to an SEC filing. The leadership change comes on the heels of ESRT recently appointing a new EVP &amp; CFO, Christina Chiu, and a new SVP &amp; CIO, Aaron Ratner.<\/p>\n<p>Malkin was quoted in a <em>New York Times<\/em> story last month about office and retail rent collections, saying that <a href=\"https:\/\/www.nytimes.com\/2020\/05\/21\/nyregion\/commercial-rent-NYC-coronavirus.html\" target=\"_blank\" rel=\"nofollow noopener\">more than a quarter<\/a> of its office tenants and more than half of its retail tenants did not pay April rent.<\/p>\n<p>The company\u2019s office and retail portfolio consists of more than 10 million square feet across the tri-state area. Last week, <a href=\"https:\/\/www.commercialsearch.com\/news\/ernst-young-renews-connecticut-office-campus-lease\/\">Ernst &amp; Young renewed its lease<\/a> at First Stamford Place, Empire State Realty Trust\u2019s 794,623-square-foot office campus in Stamford, Conn.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Current CEO &#038; Chairman Anthony Malkin, the grandson of the company\u2019s founder, will replace John Kessler.<\/p>\n","protected":false},"author":745,"featured_media":1004384798,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742,21747,21744],"tags":[34346,34345,32774],"class_list":["post-1004456800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest","category-office","category-people","tag-anthony-malkin","tag-empire-state-realty-trust","tag-morgan-stanley"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Empire State Realty Trust President Steps Down - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Empire State Realty Trust President Steps Down\" \/>\n<meta property=\"og:description\" content=\"Current CEO &amp; Chairman Anthony Malkin, the grandson of the company\u2019s founder, will replace John Kessler.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-17T14:13:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/\",\"name\":\"Empire State Realty Trust President Steps Down - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg\",\"datePublished\":\"2020-06-17T14:13:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/empire-state-realty-trust-president-steps-down\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Manhattan-Empire-State-Building.jpg\",\"width\":800,\"height\":620,\"caption\":\"Manhattan. 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