Empire State Realty Trust

Empire State Realty Trust, Inc. is a real estate investment trust, which engages in owning, managing, acquiring, and repositioning office and retail properties. It operates through the Real Estate and Observatory segments. The Real Estate segment includes ownership, management, operation, acquisition, repositioning, and disposition of real estate assets. The Observatory segment manages observatories at the Empire state building. The company was founded on July 29, 2011 and is headquartered in New York, NY.

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Empire State Realty Trust reports robust performance and growth opportunities

ESRT's Q4 2022 performance showcased strong leasing results, sustainability achievements, and a focus on energy-efficient buildings.
The company's strengths lie in its quality customer experience, solid balance sheet, and strategic capital recycling activities.
Challenges include managing operating expenses, revenue fluctuations, and potential market trend shifts.
ESRT has opportunities for growth in multi-family properties, New York City real estate, and optimizing its operational strategies.

Empire State Realty Trust (ESRT) reports strong Q1 performance

Empire State Realty Trust (ESRT) delivered a solid performance in Q1 2023, with strong leasing activity and Observatory results driving overall performance. The company's balance sheet strength and focus on modernization position it well for future growth.
ESRT faces challenges from potential distress transactions in the office sector and market forces affecting financing availability. However, the company's low debt levels and strategic approach provide resilience in navigating challenges.
Opportunities lie in ESRT's focus on New York City properties, attracting diverse tenants, and potential distress transactions for strategic acquisitions. The company's positive guidance and preparedness to capitalize on opportunities showcase a proactive stance towards growth.

ESRT excels in Q2, poised for growth amidst NYC resilience

ESRT delivered a strong quarter with robust financial performance and operational achievements.
The company's strategic focus on modernization and tenant diversification positions it well for future growth.
Challenges in decision-making speed and market dynamics require ongoing attention, while opportunities in leasing and visibility offer avenues for expansion.

Empire State Realty Trust excels in Q3, eyes NYC property growth

Empire State Realty Trust's Q3 performance showcases operational excellence, financial strength, and strategic growth initiatives. Despite challenges in capital markets, the company remains well-positioned to capitalize on opportunities in NYC real estate.

Empire State Realty Trust excels in Q4 2023 earnings call

ESRT's Q4 2023 performance reflects operational strength, robust financial metrics, and promising growth prospects, underpinned by strategic leasing initiatives and market positioning.
Despite potential challenges in lease management and capital decisions, ESRT's strong portfolio value, tenant relationships, and financial outlook offer a solid foundation for future success.
By leveraging opportunities in leasing, sustainability efforts, and strategic planning, ESRT can navigate challenges, drive growth, and enhance shareholder value in the real estate market.

Empire State Realty Trust reports robust Q1 results and growth outlook

ESRT's Q1 performance reflects strong leasing momentum and balance sheet enhancements. Challenges in specific properties are being addressed with confidence in overall leasing activity. The company's focus on growth and operational efficiency sets the stage for shareholder value creation in 2024.

Empire State Realty Trust (ESRT) reports solid Q2 performance

ESRT's Q2 2024 earnings call highlighted a robust performance, emphasizing leasing strength and operational growth. While facing challenges such as lower visitor counts and strategic decision-making, the company remains well-positioned to leverage opportunities in the market.

Empire State Realty Trust (ESRT) reports strong Q3 performance and outlines growth strategies

Empire State Realty Trust (ESRT) delivered a strong performance in Q3 2024, showcasing leasing success, retail acquisitions, and positive portfolio absorption. While facing challenges related to tenant renewals and market uncertainties, ESRT remains well-positioned to capitalize on growth opportunities and create shareholder value through strategic asset management.

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NEW YORK, April 20, 2021 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Zentalis Pharmaceuticals, Inc. a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapeutics that target fundamental biological pathways of cancers, has signed a new lease with ESRT for a 31,362 square foot office space at 1359 Broadway.  "At Zentalis, we are committed to ensuring our employees' safety and wellbeing, and we are thrilled our new corporate office space will provide our growing team with a healthy and productive work environment to help bring innovative cancer treatments to patients," commented Dr. Anthony Sun, chairman and chief executive officer of Zentalis Pharmaceuticals.

Empire State Realty Trust Welcomes Zentalis Pharmaceuticals to 1359 Broadway

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Important Update For REIT Investors

NEW YORK, April 19, 2021 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today it has signed a new long-term office lease with Burlington Stores that doubles the company's footprint at 1400 Broadway from 35,182 to 68,307 square feet. Burlington Stores is a nationally recognized off-price retailer with great values on a wide assortment of merchandise.

Empire State Realty Trust Expands Burlington Stores at 1400 Broadway

NEW YORK, April 14, 2021 /PRNewswire/ --  Empire State Realty Trust, Inc.  (NYSE: ESRT) today shared its 2020 Sustainability Report that details the current state of its ESG, Healthy Buildings, and Indoor Environmental Quality accomplishments and recognition.  The report sets forth ESRT's quantified goals and commitments to lead the industry towards a net zero future; and transparent metrics and disclosure around diversity with measurable goals for continued improvement which include: Net-zero carbon emissions across its entire real estate portfolio by 2035 Net-zero carbon emissions for the Empire State Building by 2030 20 percent reduction of energy use intensity by 2024, in alignment with the U.S. Department of Energy Better Buildings Challenge Five percent annual reduction in waste generation Two percent annual reduction in water usage "Over the past decade, we have made groundbreaking achievements at ESRT across our entire portfolio.

Empire State Realty Trust Releases Inaugural Sustainability Report: Major Achievements, Net Zero Goals, Healthy Buildings, Indoor Environmental Quality, and DE&I Metrics

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust (NYSE: ESRT) today announced it has been awarded the 2021 ENERGY STAR Partner of the Year Award by the U.S. Environmental Protection Agency and the U.S. Department of Energy. This achievement recognizes ESRT for its outstanding contributions and leadership in the fight against climate change and resultant benefits to the environment and public health. “Empire State Realty Trust is honored to receive the ENERGY STAR Partner of the Year award,

Empire State Realty Trust Earns 2021 ENERGY STAR® Partner of the Year Award for Leadership in Forward-Thinking Energy Efficiency Initiatives

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE:ESRT) (the “Company”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today announced that it will release its first quarter 2021 financial results on Wednesday, April 28, 2021 after close of markets on the New York Stock Exchange. A conference call will be held on Thursday, April 29, 2021 at 12:00 p.m. Eastern Time. During the conference call, the

Empire State Realty Trust Announces Dates for First Quarter 2021 Earnings Release and Conference Call

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today announced that it has closed on an $850 million, four-year unsecured revolving credit agreement with a group of financial institutions. The new unsecured facility, which has an initial maturity of March 31, 2025 that can be extended by two, six-month periods at the Company'

Empire State Realty Trust Announces New $850 Million Unsecured Revolving Credit Facility

Through our partnership with Orbital Insight, we've now seen both data and analysis on cellphone-derived foot traffic in New York, New York's Times Square and the Empire State Building.

I'm Thrilled To Have Bought The Empire State Building For Peanuts

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Our portfolios were pretty well-placed entering the pandemic period. We were even then maintaining “underweight positioning with mall REITs and shopping center REITs… recognizing that there are still many retailers rightsizing their portfolios."

Year In Review: Our 10x Approach

The New York office and tourism industries aren't exactly strong right now, but that could change sooner rather than later.

Why Empire State Realty Trust Will Thrive After the Pandemic

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NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today announced that Anthony E. Malkin, Chairman, President and Chief Executive Officer and Christina Chiu, Executive Vice President and Chief Financial Officer, will present at the Citi 2021 Virtual Global Property CEO Conference Tuesday, March 9, 2021, at 2:45 PM Eastern time.

Empire State Realty Trust to Present at the Citi 2021 Virtual Global Property CEO Conference

Empire State Realty Trust, Inc. (ESRT) CEO Tony Malkin on Q4 2020 Results - Earnings Call Transcript

Is owning an iconic property enough to make this REIT a buy? Here's what you need to know before deciding.

Is Empire State Realty Trust a Buy?

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the "Company"), a real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today reported its operational and financial results for the fourth quarter of 2020. “We took actions during the year to allow employee and tenant reentry with confidence to our buildings, collected rents, managed operating and capital expenses, promoted Empire State Building Observatory

Empire State Realty Trust Announces Fourth Quarter 2020 Results

The COVID-19 pandemic will likely come to an end in 2021, but that doesn't mean normal life will return right away.

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Empire State Realty Trust Inc. (NYSE: ESRT) has signed a three-year contract with NRG Energy (NYSE: NRG) subsidiary Green Mountain Energy that will expand the power sourcing for Empire State's portfolio into 100% renewable wind energy. What Happened: The contract will enable Empire State to purchase more than 300 million kilowatt-hours of renewable energy to power its office property portfolio, which covers more than 10.1 million square feet in Manhattan and the suburban Westchester and Connecticut markets.

Empire State Realty Trust To Power Full Portfolio With Wind Energy

NEW YORK, Feb. 4, 2021 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today it has signed a full-floor lease with Transit Wireless at 1400 Broadway for 32,499 square feet. "We are pleased to accommodate the growth of Transit Wireless through a relocation from 1350...

Empire State Realty Trust Welcomes Transit Wireless to 1400 Broadway

NEW YORK, Feb. 3, 2021 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) today added to its industry leadership in sustainability with the purchase of renewable wind electricity for its entire commercial portfolio. A new three-year contract with Green Mountain Energy makes ESRT...

Empire State Realty Trust Becomes Nation's Largest 100% User of Green Power in Real Estate

Office real estate hasn't performed well in the pandemic, but there could be some great long-term opportunities.

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NEW YORK, Jan. 26, 2021 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Pera Mediterranean Brasserie, the critically acclaimed restaurant from BK Restaurant Partners, has renewed its lease at One Grand Central Place. "Pera Mediterranean Brasserie provides...

Empire State Realty Trust Renews Pera Mediterranean Brasserie at One Grand Central Place

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Better Buy: Empire State Realty Trust vs. Tanger Factory Outlet Centers

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today announced the 2020 tax treatment of the Company's Class A common stock distributions, as described below. The following table summarizes, for income tax purposes, the nature of the cash distributions paid by the Company to its stockholders during the year ended December 31,

Empire State Realty Trust Announces 2020 Tax Treatment of Its Distributions

NEW YORK, Jan. 21, 2021 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today it has signed two new leases at One Grand Central Place. Belkin Burden Goldman, LLP, a real estate-focused law firm, signed a new lease for 30,598 square feet at One Grand Central Place....

Empire State Realty Trust Signs New Leases for a Total of 49,999 Square Feet at One Grand Central Place

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE:ESRT) (the “Company”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today announced that it will release its fourth quarter 2020 financial results on Wednesday, February 17, 2021 after close of markets on the New York Stock Exchange. A conference call will be held on Thursday, February 18, 2021 at 1:00 p.m. Eastern Time. During the conference call

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