Empire State Realty Trust Inc., the company that controls the Empire State Building, was sued by an investor over its plan to become a real estate investment trust and sell shares on the New York Stock Exchange.
The company said on Feb. 13 that it plans to raise as much as $1 billion in an initial public offering, giving investors the opportunity to own a piece of the landmark 102-story Manhattan skyscraper. A group of closely held companies will be consolidated to form the REIT as part of the IPO, according to regulatory filings.
