Seeking Alpha

Empire State gains after IPO

  • Empire State Realty Trust (ESRT) is up 2.6% in early trading following its IPO at $13 per share (the low end of the expected $13-$15 range).
  • The REIT is internally managed and currently owns 12 office properties in the NY metro area. Seven are located in midtown Manhattan, including the Empire State Building.
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