The attempt by the owner of the Empire State Building (ESB), Malkin Holdings, to form a REIT and...

|About: Empire State Realty Trust... (ESRT)|By:, SA News Editor

The attempt by the owner of the Empire State Building (ESB), Malkin Holdings, to form a REIT and take the iconic skyscraper public is in danger of failing due to opposition from legacy investors from the 1960s. Malkin needs the approval of 80% of 3,300 units held by those investors, who fear for their regular income checks and the tax implications of going public.