EMPIRE STATE BUILDING FOR SALE

Sep 18, 2013

By AM740 Staff

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Here’s your chance to have the Empire State building in your retirement portfolio.

Shares in the Empire State Building in mid-town Manhattan are expected to be available as early as the first week of October  in what would be one of the largest real estate initial public offerings.

However, some prospective buyers may be concerned that two-thirds of the Empire State Building’s income  is generated by the observatory deck which will face competition  from One World Trade Center when it opens in 2015.

The IPO aims to raise up to 1-billion dollars , which would make it the second-largest ever  by a U.S.-based REIT.

 

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