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NEW YORK CITY-The long-awaited IPO for a new REIT to be backed by the Empire State Building and other office and retail properties supervised by Malkin Holdings is coming to pass. Empire State Realty Trust on Thursday afternoon said it had commenced an offering of 71.5 million shares that will be priced between $13 and $15 per common share, with underwriters having an option to buy up to 10.725 million additional shares, for a total of about $1.15 billion. The REIT will trade on the New York Stock Exchange under the symbol ESRT.

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