Ilya Marritz covers business for WNYC.
You Could Soon Own a Piece of the Empire State Building
Monday, April 08, 2013
It may soon be possible to buy a piece of two New York City icons: one is a skyscraper and the other a supermarket.
The future of the Empire State Building depends on about 2,800- stakeholders who already own a piece of the art deco tower.
If 80 percent of them vote yes, the skyscraper will become part of a publicly traded real estate company that includes 18 other properties in and around New York City. Most, but not all, of the needed yes votes are in, according to a spokesman for the Malkin family, which is spearheading the IPO effort.
The second IPO is from the chain whose slogan is "like no other market." Fairway delayed its stock offering after Sandy badly damaged its outlet in Red Hook, Brooklyn. Last month, the store reopened.
A recent public filing says more than 13 million shares will be issued, priced between 10 and 12 dollars, or about the price of a nice bottle of olive oil.