Manhattan is the most exclusive real estate market in the world. The tiny, 34-square-mile island is home to Wall Street, the global headquarters of the United Nations and some of the most powerful and influential companies in the world. That exclusivity has driven big gains for one of Manhattan’s most prized properties. Since going public in the spring of 2010, Madison Square Garden (NYSE: MSG) is up a market-crushing 198%. #-ad_banner-#But if you missed out on that impressive run, don’t worry. The most exclusive real estate market in the world is setting the stage for another big winner. Read More
Manhattan is the most exclusive real estate market in the world. The tiny, 34-square-mile island is home to Wall Street, the global headquarters of the United Nations and some of the most powerful and influential companies in the world. That exclusivity has driven big gains for one of Manhattan’s most prized properties. Since going public in the spring of 2010, Madison Square Garden (NYSE: MSG) is up a market-crushing 198%. #-ad_banner-#But if you missed out on that impressive run, don’t worry. The most exclusive real estate market in the world is setting the stage for another big winner. Clocking in at $1.3 billion, this company’s recent IPO was the second-largest ever for a U.S. REIT (real-estate investment trust). It controls more than 8 million square feet of some of the most desirable commercial real estate in the world. And it also pays investors to own shares with a solid dividend yield that is higher than the benchmark 10-year Treasury. Empire State Realty Trust (NYSE: ESRT) went public in early October. The REIT owns 12 office properties and six retail properties. The trust’s prized asset is the iconic Empire State Building, which is the second-tallest building in New York… Read More