Investing

Empire State Building IPO Could Bring Big Tax Bill

Malkin Group's plans to make the Empire State Building the centerpiece of a real estate investment trust have hit another snag -- long-time investors in the building could be vulnerable to huge tax hits, according to filings with the U.S. Security and Exchange Commission.

Plaza Hotel May Sell For $600M To India's Sahara Group

India's Sahara Group is eyeing New York City's iconic Plaza Hotel after Israeli owners at El Ad Properties have offered to sell the landmark for $600 million. According to the Economic Times, the Sahara group has already paid a 10 percent down payment for the 105-year-old building following exclusive negotiations between the two real-estate conglomerates. Furthermore, Sahara's founder, Subrata Roy, has made an all-cash offer through Aamby, a Mauritius-based subsidiary, according to the ...

In Tatas' Footsteps: Sahara Group to Snap Up NY's Iconic Plaza Hotel

It seems Indian business conglomerates are increasingly getting smitten by iconic brands and landmarks across the globe.