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NEW YORK CITY-Malkin Holdings LLC’s plan to ask co-investors in its properties, including the Empire State Building, for a vote on converting their interests into units of a proposed new REIT has gotten the go-ahead from the Securities and Exchange Commission. Just prior to the Christmas holiday, the SEC declared effective the S-4 for consolidation proposed by Malkin Holdings, a company spokesman confirms.

Before Empire State Realty Trust Inc.—which would trade under the symbol ESB, for the initials of the iconic skyscraper at 350 Fifth Ave.—can make its IPO a reality, the shareholders in three office assets overseen by Malkin Properties must agree to the conversion. Along with 350 Fifth, the properties include One Grand Central Place at 60 E. 42nd St. and the Fisk Building at 250 W. 57th St.; each is represented by a separate limited liability company.

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