Real Estate: The Rockefellers Cash In

The Rockefellers Cash In

It is a name like no other. The Rockefeller clan connotes wealth and history, power and prestige. That was one reason the public last week leaped at a $1.3 billion worldwide offering to buy a 71.5% stake in Rockefeller Center, the crown jewel of the family fortune. The 14-building complex located in midtown Manhattan includes the art deco Radio City Music Hall and the RCA Building.

The issue price on the stock was $20 a share, and the offering was the biggest real estate deal ever. There was no trouble lining up buyers. Says one Merrill Lynch broker: "We did not...

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