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Thor Equities raises offer for Empire State Building
September 9, 2013 / 11:00 PM / 4 years ago

Thor Equities raises offer for Empire State Building

NEW YORK, Sept 9 (Reuters) - Thor Equities LLC, one of New York City’s largest landlords, on Monday raised its offer to buy the Empire State Building, hoping to trump a plan to roll the property into a trust, according to sources familiar with the matter.

Thor has offered to buy Empire State Building Associates LLC, which owns the land, the building and the master lease on the historic tower, for $1.4 billion in cash, significantly higher than the $1.18 billion the limited liability company is estimated to be worth should it become part of a publicly traded real estate investment trust.

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