The realty business is starting to take big strides in the US and one of main contenders to make big bucks by entering the corporate world is Empire State Realty Trust, which owns the largest building in New York, the Empire State Building. However, there are certain constraints by which they have to live. First […]
Feb 18 2012 | Posted in
Business |
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Many of these trusts hold international properties and stakes scattered across the United States. Together, Empire State Realty manages 7.7 million square feet of space, including 5.8 million in Manhattan. 79.9% of its New York space is currently leased. The trust also has the option to acquire two more Manhattan properties, adding another 1.4 million […]
Feb 18 2012 | Posted in
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In 2006, the Malkins assumed day to day control of the Empire State Building and embarked on a $500 million renovation, which will continue past the public offering. The trust expects the Empire State Building makeover to “substantially” finish by 2016, after a further investment of $55 to $65 million funded by cash flow and […]
Feb 18 2012 | Posted in
Business |
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