Hoboken Real Estate News

Want to Buy the Empire State Building?

March 28th, 2012 8:25 PM by David Bistany-Team Leader

Want To Buy The Empire State Building?

This is not something that will only be asked by native New Yorkers to the rubes visiting from out of town.

Instead, Empire State Realty Trust, owners of the Empire State Building have announced it will take the company public. Yes, you too can own the most iconic building in Manhattan.

Empire State Realty Trust, owners of the iconic Empire State Building, filed to sell up to $1 billion of its Class A common stock, giving ordinary investors a chance to own a piece of the building that has been fought over by billionaires.

The tower, once the tallest in the world, has seen several owners over the decades and had been at the centre of a legal battle among the Malkin family, property Donald Trump and real estate heiress Leona Helmsley.

The Malkin family bought the property in 2002 and, after much wrangling, gained total control of the 102-story building in 2010.

In November, Malkin Holdings had said it would likely file to become a publicly traded real estate investment trust within three months.

Posted in:General
Posted by David Bistany-Team Leader on March 28th, 2012 8:25 PM