Empire State - this is the name of the world famous building in New York, which is a must see attraction. There are no tourists in the USA, who would not be advised to visit this famous skyscraper.
Building in 102 floors on Manhattan Island overlooking the whole of New York is popular in reality, on the internet, where it has already become a picture, constantly wandering the network. One of the tallest buildings in the world, made in a sophisticated art deco style, is a real masterpiece of world architecture of the interwar period, during which, like mushrooms after rain, high-rise buildings in the center of New York grew. Owned by a real estate investment fund called Empire State Realty, the grandchildren of the founder of which carried out the placement of shares in the amount of 929,5 million dollars, contrary to the disagreement of some of the shareholders and, maybe, contrary to the position of his lawyer grandfather.
Reasons for a failed share placement
The price was at the bottom of the forecast range due to the, what building, built in 1931 year, requires constant renovation, and unclear, how much more profit it can bring as an observatory, from the windows of which tourists can admire the views of the metropolis. As long as they pay by 100 million dollars a year, making a solid contribution to total revenue, component 511 million dollars.
Empire State Building Associates originated in the distant sixties and began with the purchase of real estate lease rights for 114 years. Now the fund has almost two dozen buildings and plots of land, including a couple of large-scale projects in the field of retail real estate. The limited success of the IPO is due to the fact, that the decision to go to the IPO has not yet been approved by some of the owners of the building, who appealed after a failed trial.
