"Robert Green" wrote:
....snip...


http://www.elegran.com/news/2013/07/...two-penthouses

The penthouse goes for $95M - wow!

I worked in a very, very tall building once in NYC and I gotta say - they
move a LOT.

....snip....

Just last week I heard an interesting statistic from a gentleman well
versed in Real Estate investments (REITs).

He said that the owners of the Empire State Building (Empire State Realty
Trust) are putting a lot of money into modernizing the interior of the
building. He said that right now it's hard for them to command high rents
because the building's amenities are so outdated.

The interesting statistic was that the building currently generates about
85% (eighty five!) of its total revenue from tourists visiting the
observation decks. That's 2.7 million square feet of commercial space vs.
the two observation decks on the 86th and 102nd floors. The O-decks win 85
- 15.

I'd like to see what the projected revenue numbers for the rental space
will be once the modernization is complete.