NEW YORK CITY-The Malkin family, which operates the Empire State Building, and other office assets in the city, might launch an IPO of their holdings, according to a New York Times article. The Times did not get comments from the Malkins or the name of the company they intend to bring public.
Other buildings that could be involved in the offering could include 1 Grand Central, which is across 42nd Street from the famous transportation hub, 250 W. 5th St., and six buildings in Westchester County and Connecticut.
The Malkins have spent $560 on upgrades to the Empire State Building, including making it one of the most highly visible sustainable buildings in the skyline. Click here to read the full Times article.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
