GOING PUBLIC: The company that runs Manhattan's Empire State Building and several other properties in New York is planning to launch an initial public offering.
BILLION-DOLLAR RAISE?: Empire State Realty Trust's regulatory filing did not say how many shares might be involved in the IPO or what price they may fetch, but the company contemplates raising as much as $1 billion.
GOOD TIMING: New York's commercial property market has improved since the 2008 financial crisis led to sweeping job losses on Wall Street and companies cut how much space they were renting. Office vacancy rates are down, and rents are back on the rise.
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