June 14, 2017 Comments Off on 20 Unprofitable Early Years for the Empire State Building Views: 487 Midtown New York, New York News

20 Unprofitable Early Years for the Empire State Building

Fun fact: One year after its opening, the Empire State Building had an occupancy of only 25% and remained that way for most of the 1930’s, earning it the nickname the “Empty State Building.”

“The Empire State Building did not become profitable for nearly 20 years, until after World War II when companies flooded Manhattan and space became scarce,” according to an essay on the famous tower on QuickLiquidity.

The lesson for today? That any real estate cycle — no matter how bad — or how good — eventually turns.

Read More at QuickLiquidity

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