Empire State Bids Soar Over Approaching REIT Deal

Law360, New York (June 28, 2013, 9:39 PM EDT) -- The owners of the Empire State Building have fielded a slew of unsolicited bids topping $2 billion in the past two weeks, threatening their plan to put the building into a real estate investment trust as real estate moguls vie to take advantage of the trophy's untapped value, experts say.

In addition to the previously reported bids from high-level investor Rubin Schron two weeks ago and an unnamed bidder last week, Malkin Holdings LLC has received at least one additional bid from mogul Joseph Sitt's Thor...
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