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ESRT CEO Malkin Takes President’s Role as Kessler Steps Down

Empire State Realty Trust said Tuesday that its current president and COO, John B. Kessler, will leave the company after an orderly transition. The role of president will be assumed by chairman and CEO Anthony E. Malkin. The REIT won’t fill the position of COO.

“The board of directors and I thank John for his service and many contributions to ESRT since he joined us more than five years ago, including his leadership in our capital markets activities, our CFO transition, and initiatives that enhanced our culture and strengthened our team,” said Malkin and lead director Steven J. Gilbert.

ESRT didn’t state the reasons for Kessler’s departure. He joined the company as COO in 2015 after serving as a managing director at Fortress Investment Group, with a focus on real estate. From 1993 to 2010, he held various positions at Morgan Stanley.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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