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 tycoon 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.
great article and post
This is a great property! Looks like everything anyone could ever want or need. Terrific location, location, location… with all the bells and whistles too.
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I'd love to have a stock certificate to hang on my wall saying I own a piece of the Empire State building.
I know right, that's the type of investment you hand down as an heirloom.
That is great news Empire estate building is open to public.
Very interesting to see it in common stock. Thanks again for the insight!
Wow! more huge companies going public nowadays. Interesting to see Empire state building to be open for public ownership.
I would love to own even just a little piece of that Empire State Building.
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Doesn’t this happen all the time? Iconic buildings change owners all the time. Remember the Sears Tower… oops, I mean the Willis Tower.
I am not sure if I like the idea of the Empire State Building going public. It should remain the exclusive building that it is. Perhaps I am just being old fashioned.
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I'm sure it'll stay exclusive being public maybe even more exclusive. Wasn't it getting kinda run down. A nice infusion of capital is empire state building needs.
I always thought it was the brooklyn Bridge that was for sale in NYC!
i was wandering who owned this, it would be an expensive piece of history to buy in to but something that not many people will be able to say that they own!!
Nice posting. I love this Empire State Building very much. I am very glad to know that this Empire State Building is going to public ownership. Thanks for this post.
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Sounds like a great idea for the current owner to perhaps retain control while recapturing a good chunk of their investment.
This building is a state's asset and having a share in such a marvelous and world record holder building will be an owner for anyone.
Very good title. It pulled me in. REIT's are going to be good investments in the coming years. Just watch and see.
Owning a piece of real estate like the empire states, even if only a small part, is kind of awesome.
Good job on presenting this information.
As a renter, or prospective renter, you are succumbing to the powers of lordship that the technical owner of whatever property you're about to rent carries
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The idea of the Empire State Building is just great. Malkin has taken a strong step for public.
That would be amazing. The Empire State Building is Iconic. I'm a Realtor and I focus on the Bronx and Westchester Communities. But if I could ever get the opportunity to own a piece of the Empire State Building I would never sell it. Even if it's in the form of Stock, being able to tell my daughter that I own one of NYC's prime properties would be a cool story to tell.
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Hi – I found the information in this article helpful for my research. Thanks!
Should make for an interesting stock chart in a year or two. I think I'll pass.
An impressive and iconic piece of real estate if ever there was one. And still the tallest.
Hey, Very nice post, thanks for this blog, so good information about Empire State building. waiting for more blogs.
I rather buy a piece of Burj Khalifa in Dubai rather than wasting my money in that dwarfed and antiquated building.
To have an iconic landmark as one your property is fantastic. But expect it to come with a price. A high price, that is! The value of this building goes beyond monetary value, however. Owning this kind of property comes with a responsibility to preserve the iconic building and all it represents.
Owning a piece of property that will never diminish in value isn't such a bad idea! Prices?
I want to start a business of Real estate, and I also want to buy the empire state building
It's true, you can't respond to everything but certainly come back to your posts once in a while and throw a comment into the mix!
Interesting concept for a building.
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Impressive post here! Its interesting to see Empire State building become open for public ownership. Great share!!