For One Night Only, You Can Sleep Inside the Empire State Building. Guests will have all-night, private access to the Empire State Building’s observation deck, and will bed down in an exclusive suite on the 80th floor.

SO what’s inside the empire state building? The top of the empire state building is covered by a series of broadcast antennas, used by radio and television networks. Attached to the top of these antennas is a lightning rod, used to prevent damage to the other parts of the building should lighting strike.

More Facts for visitors Many businesses call the Empire State Building home, including LinkedIn, Shutterstock, Coty, Citizen, HNTB, Global Brands Group, and Skanska. With over 2.8 million rentable square feet, the building has its very own ZIP code: 10118.

What was the Empire State Building built for? The Empire State Building was officially built to host corporate business offices. Less officially, the Empire State Building was also built to be the tallest building in the world.

Ideally, the average lifespan of any concrete structure is 75-100 years. But, it is considered that the average life of an apartment is 50-60 years while of a house it is 40 years.

The development authority of a particular area provides land development rights to developers and sells properties for a lease of 99 years. This means that anyone who purchases a residential or commercial property will own it only for a period of 99 years, after which the ownership is given back to the landowner.

After selling all flats, society is formed legally according to the housing society laws. Builder then transfers rights of the LAND on which building is constructed to the society. For which you will get a SHARE CERTIFICATE from your society in which your percentage of share will be mentioned.

If you opt for a flat rather than a house, your initial purchase costs will be lower. With a house, you have a higher potential for capital growth in the long run, but it is typically a larger investment with high initial costs to go with it – including many ‘hidden’ extra costs associated with buying a house.

As a general rule of thumb, if the lease is less than 90 years you should almost certainly try to extend it because: Properties with shorter leases are less valuable than ones with long leases (this is particularly true if leases are below 80 years)

Put simply, acquiring a 999 year lease enables a flat owner to have a title that is ‘as good as freehold’ and therefore more marketable than for example a 85 year lease, whilst retaining the existing freehold/leasehold structure.

If you’ve fallen in love with a property that happens to be leasehold, there’s no reason you shouldn’t go ahead and purchase it. Leases themselves aren’t an issue – it’s bad leases that are the issue. Terms in your lease mean if you’re having any issues, for example with noisy neighbours, this can be dealt with.

Do not buy a flat with a lease with less than 85 years remaining without raising the issue of lease extension or freehold acquisition. The lease length is bound to become an issue during your ownership, so it is better tackled head on.

A property with a lease of less than 80 years will be harder to sell. Many potential buyers will not wish to incur the costs and uncertainties associated with extending your lease. And mortgage lenders are reluctant to fund properties with shorter leases, especially those with less than about 70 years unexpired.

If you are lucky enough to own a flat and a share of the freehold the good news is that the process of extending is relatively straightforward and the costs are fixed (and low). The first step is to agree this with the co-owners. You cannot usually act alone however extending the lease will benefit everyone.