Empire State Building set to go public

The 1,250-foot-tall Empire State Building, one of New York City’s (and the world’s) most iconic buildings, is set to be the cornerstone of one of the largest real estate initial public offerings (IPO) in history. The 2,800 stakeholders in the 82-year-old skyscraper, more than 80 percent of whom approved the IPO, hope to raise $1 billion by taking the Big Apple landmark public. The offering would include 18 other properties.

Source: Wall Street Journal