Regions

Empire State Building Gets Second Offer

June 26
10:01 PM 2013

Empire State Building owners received another unsolicited offer for the sale of the iconic part of the New York skyline. According to a regulatory filing on Wednesday, the skyscraper was set to become a centerpiece of an investment in real estate.  The said filing indicated that the iconic landmark would become publicly traded.

Two unsolicited bids were stated by Malkin Holdings LLC. The latter is the overseer for the Empire State Building's investors and operations. It sent out a letter saying that it was reviewing two bids priced at US$2.1 billion and US$2 billion. The offer was to buy the 102 story building. The letter was also included in the filing with the US Securities and Exchange Commission.

Empire State Building is one of New York's leading tourist attractions. The skyscraper opened in 1931 during the Great Depression. The building is known for its Art Deco tower and colored lights at nighttime. The building is also listed as a National Historic Landmark.

Meister Seelig & Fein LLP is the law firm representing investors who oppose the REIT plan. Last week, the law firm disclosed through a letter that Cammeby's International Group offered to but the landmark for US$2 billion. The second bidder's identity was not revealed.

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