Empire State Realty Trust Inc., whose properties include Manhattan’s Empire State Building, filed to raise as much as $1.07 billion as it proceeds with one of the largest initial public offerings of a U.S. real estate investment trust.
The company that controls the Empire State Building plans to raise as much as $1 billion in an initial public offering, giving investors the opportunity to own a piece of the landmark 102-story Manhattan skyscraper.
A group of investors in the company that controls the Empire State Building sought to block a settlement which would allow the iconic New York skyscraper to be included in a real estate investment trust.
Empire State Realty Trust Inc., the company that controls the Empire State Building, was sued by an investor over its plan to become a real estate investment trust and sell shares on the New York Stock Exchange.
Empire State Building Realty Trust Inc. has received the votes needed from investors in the tower for an initial public offering, indicating the approval process is close to an end after dissension from some holders.
James O. Boisi, a real-estate lawyer who helped guide high-rise development over railroad tracks along New York’s Park Avenue before becoming a top executive at Morgan Guaranty Trust Co., today’s JPMorgan Chase & Co., has died. He was 94.