As billionaire real estate players reach higher and higher in their bids to buy the Empire State Building, the building's current controller, the Malkin family, may move forward on the tower's public offering as soon as this week. The Malkins plan to sell shares in the building to the public through a real estate investment trust, a move that has divided current shareholders. But potential buyers keep popping up?most notable, perhaps, is Joseph Sitt, who recently upped his bid to $1.4 billion, all cash. The building is valued, for REIT purposes, at $1.18 billion. [NYT; previously]
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