Empire State Realty Trust, which operates 12 properties, including the Empire State Building, in the greater New York City area, registered with the SEC on Monday for a $1 billion US IPO. As of 9/30/2011, its properties included 7.7 million rentable square feet of office space. Over a third of that total comes from the Empire State Building, which stood at the world's tallest building from 1931 to 1972.
Empire State Realty Trust was formed in July 2011 to continue the operations of Malkin Holdings LLC and its affiliates. Their combined revenue for the past twelve months was $259 million. The Empire State Building observatory generated approximately $66 million in revenue for the last nine months.
The trust plans to list on the New York Stock Exchange under the symbol ESB. BofA Merrill Lynch and Goldman Sachs are the lead underwriters on the deal.
