The Empire State Building stands as an enduring symbol of New York City — and of the mayhem and legal conflict to which New York City real estate titans are prone. The most recent conflict, however, seems to be inching toward a resolution.

Last week, Peter L. Malkin and his son Anthony E. Malkin, who currently control the Empire State Building, drew closer to their goal of bundling the 102-story tower with 19 other properties to create a $5.2 billion company called Empire State Realty Trust that would offer shares to the public.

The Malkins, whose stake in the new company is valued at $730 million, have spent the last year trying to convince shareholders to approve the consolidation. In what has turned into an ugly public feud, some shareholders have opposed the plan, saying that while it would be a rich deal for the Malkins, it could expose other investors to the ups and downs of the stock market.

But on Tuesday, Justice O. Peter Sherwood in State Supreme Court in Manhattan rejected an investor group’s challenge to the initial public offering. Two days later, he approved a $55 million settlement between a separate group of dissenting shareholders and Malkin Holdings. Stephen Meister, a lawyer for some stakeholders in the Empire State Building, has vowed to appeal both decisions.