This Day in Business History: Empire State Building Opens

May 1, 1931: The Empire State Building opens in New York City, standing as the tallest building in the skyline for 40 years.  It is now the fifth tallest building in the United States and the 28th tallest building in the world.

Opening during the Great Depression, the building has been a part of many real estate sales over the years.  One of these transactions, for $65M in December 1961,was dubbed by the New York Times as the most complex deal in realty history.

It most recently changed hands in 2016, and is currently owned by Empire State Realty Trust and the Qatar Investment Authority.

Read more from the Goizueta Business Library’s collection:

 

Sky Boys:  How They Build the Empire State Building PZ7 .H667 S5 2006  

 

Empire State Building : The Making of a Landmark I’m an eBook  

 

Sources: Empire State Building, The Skyscraper Center, The New York Times.com, New York Times TimesMachine,