Thursday, April 14, 2011

The family that controls the Empire State Building looks get shares of the building stock

The Empire State perhaps the most emblematic skyscrapers of New York, with permission from the Chrysler Building. Located on Fifth Avenue at 34th Street, the plant 86 is the vantage point from which boasts thousands of tourists daily to take pictures and videos of the island of cement and concrete of Manhattan.

Now, the Malkin family, which controls the ownership of the skyscraper, is studying the creation of a company 'stars' by the popular building. This new company will be listed on the stock exchange and allow the world to any shareholder owning a 'piece' of New York's 102-story behemoth, sources close to the family consulted by The New York Times.

This new company will include other office buildings in the Big Apple, as the No. 1 Grand Central, 55 floors, located between 42nd Street and Grand Central Station, and another six properties in Westchester and Connecticut. Malkin family thus expected to benefit from the international prestige of the Empire State to attract buyers from around the world.

However, the Malkin must negotiate a series of previous obstacles before launching this venture stock market. The main, be able to win the support of its main partner, Leona Helmsley, who apparently has already hired several consultants to evaluate the proposal, as well as to convince the 3,400 limited partners of the existing company that owns the Empire State.

Since the Malkin family controls the whole building, that five years ago, to shine investments have not stopped. The U.S. newspaper estimated to have paid 385 million euros for complete upgrade, which includes, among other things, arranging the hall, to recover the original Art Deco murals, reform the observatory and make the Empire State building energy efficient.

Today the skyscraper has 200 tenants.

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