Chillin' out till it needs to be funded
The Empire State Reality Company(ESB) is listing its $382.2 mln revenue company with 7.7 mln sq ft of prime space incl the 102 story Empire State Building that alone generated $156.7 mln in revenue these nine months from renters such as the Linked in corporation and the FDIC. the 7.7 mln sq ft is spread over just 12 buildings, a few in Connecticut. The Malkin Family has built the Empire Ste building and many others of that era as mutualised investments with different consortiums of investors.
Mr Anthony Malkin appointed Chairman and CEO bought bac the investments in 2002 along with the ground beneath it and expect to double rents from new renovations and the Art Deco lobby
The Empire State Building also claims to be a green office space
The IPO will be run by Bank of America and Goldman Sachs as Leads, both underwriting the majority of the issue
The filing and fees have been determined on the basis of a $1 bln ticket for the IPO issued in Class A shares with 1 vote each while the Malkins hold Class B and probably some Class A holding . The Class B sahres have been created with a 50:1 voting power
Reuters mentions the building has been used in more than 250 features.
If you find the SEC link for the S-1 regn statement do post us. ( it has just been filed)