Empire State Realty Trust, owners of the iconic Empire State Building, filed to sell up to $1 billion of its Class A common stock, giving ordinary investors a chance to own a piece of the skyscraper that has been fought over by billionaires.
The tower, once the world’s tallest, has seen several owners over the decades and had been at the centre of a legal battle among the Malkin family — which controls the company — property tycoon Donald Trump and real estate heiress Leona Helmsley.
The Malkin family bought the property in 2002 but gained total control of the 102-story building only in 2010 after much wrangling.
Read more: Empire State Building owners file for $1 billion IPO
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