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Empire State Realty Trust seeks to sell Manhattan office building

CRE Daily · ·by G4L

ESBA
ESBA Empire State Realty OP LP
$5.11 +4.05%
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ESRT ESRT -0.19%
  1. 1Empire State Realty Trust is seeking a $150 million asking price for 501 Seventh Avenue.
  2. 2ESRT invested $54 million into the building, which is 40% of the costs incurred over the past five years.
  3. 3Erez Asset Management disclosed a 5.8% stake in October.

So what's the key point?

Empire State Realty Trust is looking to sell a building in Manhattan for $150 million. This is a move to recover some of the money spent on the building.

Source CRE Daily · View original ↗

Related 3-line summaries

Empire State Realty Trust Announces Third Quarter Results Focused on Capital Recycling and Operational Efficiency The Motley Fool +1 · Nov 4Erez Asset Management Acquires 5.8% Stake in Empire State Realty Trust Bisnow +1 · Oct 7ADP forecasts 5–6% revenue growth and 70–90bp EBIT margin expansion for 2027 GuruFocus.com +5 · Jul 29
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