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Real estate mogul Tony Malkin wants KPFA and Pacifica Foundation properties
by Lynda Carson (tenantsrule [at] yahoo.com)
Saturday Dec 30th, 2017 7:49 AM
Reportedly, Empire State Realty Trust, Inc., may take control of KPFA Radio - 94.1 FM, and the entities controlled by the Pacifica Foundation as soon as January 8, or January 12!
Real estate mogul Tony Malkin wants KPFA and Pacifica Foundation properties

Empire State Realty Trust is trying to take control of KPFA and the entities controlled by the Pacifica Foundation

By Lynda Carson - December 30, 2017

Empire State Realty Trust, Inc. (ESRT), a Maryland corporation, is trying to take control of KPFA and the entities controlled by the Pacifica Foundation over a $2 million debt owed to the Empire State Realty Trust, Inc. (ESRT).

Reportedly, Empire State Realty Trust, Inc., may take control of KPFA Radio - 94.1 FM, and the entities controlled by the Pacifica Foundation as soon as January 8, or January 12. Pacifica Foundation, owns the broadcast licenses for KPFA in Berkeley, WBAI in New York, KPFK in Los Angeles, KPFT in Houston, and WPFW in Washington D.C.

Anthony Edward Malkin a.k.a Tony Malkin, Chairman and CEO of Empire State Realty Trust, Inc., was born in New York City, on 6/1/62. During FY 2016, Malkin raked in at least $9,295,625, according to Bloomberg LP. This includes $810,000 in salary, and a bonus of $1,822,500, plus $6,545,109 in restricted stock rewards. All other compensation amounts to $118,016. Total annual compensation is $2,632,500

According to BusinessRich.com, Anthony Edward Malkin, is estimated to be worth over $10 billion.

Reportedly, legendary KPFA Radio - 94.1 FM, in Berkeley, has been placed at risk due to $1.8 million being awarded in a summary judgement to Empire State Realty Trust, Inc. (ESRT). Additionally, attorney’s fees against the Pacifica Foundation and WBAI radio in New York, KPFA’s sister station in the Pacifica network, have been granted because of a feud over alleged unfair, unreasonable and exorbitant annual increases in the rent for situating the station’s transmitter at the top of the Empire State Building in New York City.

On the 6:00PM KPFA evening news on December 28, 2017, it has been reported that the Pacifica Foundation board members were deadlocked on a vote to file for Chapter 11 bankruptcy, due to over $2 million owed to ESRT because of the unpaid use of the antenna (unpaid tower rent) at the Empire State Building, in New York City.

During an interview on KPFA evening news with Pacifica's interim Executive Director, Bill Crosier, he stated that the Pacifica Foundation is in peril with over 8 million in debt. Additionally, on January 8, 2018, KPFA may be shut down due to the lawsuit with ESRT if something is not resolved, according to Crosier. Crosier also stated that nothing has been paid to ESRT since last May. He also stated that if Pacifica files for Chapter 11 bankruptcy, they can protect their assets, including KPFA radio. However, Pacifica is seeking a loan to pay off the law suit, or their debts.

Additionally, on December 29, 2017, it was reported on the KPFA 6:00PM evening news that KPFA received an email from Pacifica's interim Executive Director, Bill Crosier, stating: “Many of you have asked what happened with the Pacifica bankruptcy motion last night. The PNB majority moved it to executive session. I can’t give details publicly about the executive session, but I’ll just say that the PNB did not get to that motion in exec. session, so took no action on it. Bill.”

According to the July 11, press release, “ESRT is demanding over $2 million for unpaid tower lease costs, holding the network hostage in an annually escalating contract involving increases of about 9% per year. ESRT is a multinational corporation that held $554.4 million cash and cash equivalents as of Dec. 2016, and owns billions of dollars of real estate.”

“After the destruction of the Twin Towers in 2001, broadcasting stations in the NYC area had few options for antenna space rental. ESRT took advantage of its position in the market. In 2005, their owners negotiated a highly questionable contract with Pacifica. ESRT has refused to release Pacifica from the contract, which is scheduled to continue until 2020.”

KPFA is the first listener sponsored radio station in the United States, and the legendary history of the radio station is known across the country, and the planet.

It is an exhilarating experience to walk through the doors of KPFA Radio in Berkeley, and get buzzed in so that you can join someone in-studio to talk about the current issues affecting the community. KPFA is a rare treasure that is worth fighting for and defending for future generations of people in the Bay Area, and across the globe.

KPFA has been there for the community, and I hope the community stands with KPFA in this crisis.

A community based listener supported radio station, KPFA has supported the local community for many years, and would be sorely missed if ESRT were to take over the station and Pacifica’s assets.

Whatever infighting that may be taking place in KPFA and the Pacifica Foundation, KPFA needs your help to stay alive.

Lynda Carson may be reached at tenantsrule [at] yahoo.com

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A little background info: Anthony Edward Malkin a.k.a. Tony Malkin

https://therealdeal.com/tag/tony-malkin/

https://www.bloomberg.com/research/stocks/private/person.asp?personId=604730&privcapId=170205476

http://www.empirestaterealtytrust.com/about-us/our-team/anthony-e-malkin

https://therealdeal.com/issues_articles/the-closing-with-tony-malkin/

https://peepfind.com/s.php?fn=Anthony&ln=Malkin

http://www.4-traders.com/business-leaders/Anthony-E-Malkin-06RW8V-E/biography/

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ESRT - Officers and Directors

http://investors.empirestaterealtytrust.com/od.aspx?iid=4313470

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Empire State Realty Trust - Committee Charting

http://investors.empirestaterealtytrust.com/committeechart.aspx?iid=4313470

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Malkin Securities

https://www.opensecrets.org/orgs/summary.php?id=D000058492

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Empire State Realty Trust, Inc.

https://egov.maryland.gov/BusinessExpress/EntitySearch

Department ID Number: D14227052
Business Name: EMPIRE STATE REALTY TRUST, INC.
Principal Office:
7 ST. PAUL STREET
SUITE 820
BALTIMORE MD 21202
Resident Agent:
CSC-LAWYERS INCORPORATING SERVICE COMPAN
7 ST. PAUL STREET
SUITE 820
BALTIMORE MD 21202
Status: INCORPORATED
Good Standing:
THIS BUSINESS IS IN GOOD STANDING
» Order Certificate of Status
Business Type: CORPORATION
Business Code: ORDINARY BUSINESS - STOCK
Date of Formation/ Registration: 07/29/2011
State of Formation: MD
Stock Status: STOCK
Close Status: NO

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Anthony Edward Malkin, is worth over $10 billion.

http://www.thebusinessrich.com/anthony-malkin/

Other Affiliations
RRE Ventures LLC
Lechters Inc.
Empire State Building Associates LLC
60 East 42nd Street Associates LLC
250 West 57Th St Associates LLC
Malkin Properties, L.L.C.
Real Estate Roundtable, The
Harvard College
Empire State Realty OP, L.P.

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(Not yet verified)

Work
:

Marcury Partners, Chief Executive Officer
 Malkin Properties L.L.C, President 
Malkin Properties L.L.C, Chief Executive Officer 
W & M Construction Corp., Chief Executive Officer
 W & M Construction Corp., President
 Natural Resources Defense Council, Board Member 
Empire State Building Company LLC, Member

Phone Numbers
+1 970-925-1516
+1 212-687-8700
+1 212-727-2700
+1 212-953-0888
+1 212-687-1500
629-5772
+1 203-625-7637
+1 914-234-0785
+1 970-903-2563

Emails

amalkin [at] wmproperties.com
anthonymalkin [at] lycos.com
amalkin [at] comcast.net
amalkin [at] mercurypartner.com
a.malkin [at] mercurypartner.com
amalkin [at] wienmalkinllp.com
a.malkin [at] wmproperties.com
amalkin [at] nrdc.org
amalkin [at] malkinproperties.com
anthony [at] empirestatebuilding.com

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Comments  (Hide Comments)

by Tracy Rosenberg
Saturday Dec 30th, 2017 10:42 AM
Yes, Tony Malkin is a predator and you want to remove the threat of collections activity as soon as possible by taking out a loan and paying off the summary judgment ASAP.

The actual collections activity that can go on is being overstated by KPFA management. There are only 2 things that can happen (outside of bankruptcy). Malkin can put a lien on KPFA's building, but he can't take ownership of it or close it down. It just means he would have an interest in the proceeds if it were sold. KPFA's studio already has a lien on it for unpaid property taxes and has since 2014. Nobody even noticed until 2017.

Malkin also has no ability to impact the website or the broadcast license or the transmitter tower. What he can do, although not immediately, is attack KPFA's checking account and remove what cash is in it as a payment towards the debt. This would hurt KPFA financially and probably require an emergency fundraiser to replenish operating funds.

That's it.

Taking out a loan and paying them now removes that threat and gives you three years to address the long-term debts, with a signal swap, signal sale, or real estate sale (or whatever else you figure out).

Going into Chapter 11 bankruptcy empowers Malkin and ESRT to really get their hands on KPFA's and Pacifica's assets as he and his excellent lawyers will staff the creditors committee in bankruptcy and will be able to propose their own Pacifica reorganization plan to a federal judge who may well select the creditors plan. Won't be up to any of us.

So if you are concerned about Malkin taking over KPFA and Pacifica, bankruptcy is not your friend. Taking a loan to pay him off quickly is the best defense.
by Lynda Carson
Tuesday Jan 2nd, 2018 3:43 PM
The following was posted on the KPFA website today.

(LC)

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The Fate of KPFA - January 2, 2018 - The KPFA Management

https://kpfa.org/blog/the-fate-of-kpfa/

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by Lynda Carson
Wednesday Jan 3rd, 2018 7:29 PM
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Update: KPFA - https://kpfa.org/

Jan. 3, 2018 - KPFA Radio crisis

On Wed. January 3, 2018, 6:00PM on the Pacifica Evening News, it was reported that late last night the Pacifica National Board (PNB) voted to approve 2 loans to help pay off what is owed to the Empire State Realty Trust (ESRT). However, it was reported that it was not clear if the 2 loans would be enough money to convince ESRT to not seize the assets of the Pacifica Foundation, including KPFA. The rest of what is owed to ESRT would be payed back at a later date, when more loans could be available, or approved by the PNB.

The loan news update appeared around 6:55PM in the Jan. 3, 2018 - KPFA / Pacifica Evening News report.

Additionally, tomorrow at 8:OOAM on KPFA Radio at 94.1 FM, there will be a discussion about the crisis, and it is expected that at around 8:30AM, that the phone lines will be open to hear from the public for a question and answer session.

KPFA - The Pacifica Evening News - January 3, 2018

https://kpfa.org/player/?audio=276462

(LC)

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