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.
Thor Equities LLC offered to buy the title to New York’s Empire State Building for $1.4 billion, according to a letter from an attorney representing investors who oppose plans to put the skyscraper into a real estate investment trust.
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.
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 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.
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.
Rubin Schron, a New York real estate investor, offered to buy the Empire State Building for $2 billion in cash as the skyscraper’s supervisor prepares to make it the centerpiece of an initial public offering.