Empire State Realty Trust, the company that controls all 102 stories of the Empire State Building, filed for its initial public offering today, hoping to raise up to $1 billion, or way less than Facebook. The company, run by the Malkin family, owns twelve office properties overall, but disclosed $156.7 million in revenue for the first nine months of 2011 from New York City’s most famous skyscraper. The company will make Class A shares available publicly, while Class B shares will hold 50 votes each; no word yet on how many must be purchased to personalize the tower light colors.
It’s not time for finger-pointing. We know the problem. It’s been years of neglect, and in many cases it’s been these radical environmentalists that want nature to take its course.…You know what? This is on them.