Housing
For Around $14, You Can Own Part of the Empire State Building
New York's most famous building is going public.
After two years of vicious in-fighting, the group of investors who own the Empire State Building are taking the New York icon public. Starting October 1, regular people will be able to buy into the Empire State Realty Trust for between $13-$15 a share, according to an SEC filing.
But there's a catch: The Empire State Building is just one of 21 properties in the Empire State Realty Trust. Which means what you'll really be buying is a share of a trust, not the Empire State Building specifically. Bloomberg News explains: