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Empire State Realty Trust, Inc. (NYSE: ESRT) is a premier real estate investment trust (REIT) headquartered in New York, New York. As a leading entity in the real estate sector, ESRT specializes in the ownership, management, operation, acquisition, and repositioning of both office and retail properties in Manhattan and the greater New York metropolitan area. The company is renowned for its iconic property, the Empire State Building, which stands as one of the most famous buildings in the world.
As of June 30, 2015, Empire State Realty Trust's extensive office and retail portfolio boasts a substantial 10.0 million rentable square feet. This includes 9.3 million rentable square feet distributed across 14 office properties, with nine properties located in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York. Additionally, the retail portfolio encompasses approximately 720,000 rentable square feet.
Empire State Realty Trust operates as a pure-play greater New York and Manhattan-focused REIT, with around 9.4 million square feet of office space under its management, about 80% of which is located in Manhattan. The Empire State Building alone, featuring both office spaces and the popular observation deck, serves as a significant revenue generator and a prominent tourist attraction.
ESRT's strategic approach to real estate investment and management ensures that its properties are continually optimized for maximum value and performance. This includes ongoing projects aimed at enhancing tenant satisfaction, improving energy efficiency, and maintaining the historic integrity of its properties. The company's commitment to sustainability is evident in its efforts to achieve various environmental certifications and implement green building practices.
Financially, Empire State Realty Trust remains robust, with a diverse tenant base and a strategic focus on high-demand locations. The company's partnerships and collaborations with other industry leaders further strengthen its market position, offering shareholders confidence in its long-term growth and stability.
Empire State Realty Trust (NYSE: ESRT) has announced its participation in Citi's 30th Annual Global Property CEO Conference. The company's Chairman and CEO Anthony E. Malkin, along with President Christina Chiu, will deliver a presentation on Monday, March 3, 2025, at 10:15 AM Eastern time.
Investors can access a live audio-webcast of the roundtable discussion in listen-only mode through the Investor Relations section of esrtreit.com. The webcast recording will remain available for replay until March 3, 2026.
The Empire State Building has announced its Valentine's Day 2024 celebrations, featuring several romantic experiences. The centerpiece is the exclusive 'Empire for Two' package, a $20,000 once-in-a-lifetime date night offering a private three-course dinner with wine pairing on the 102nd Floor Observatory, complete with live music and exclusive access to the building's attractions.
Additional Valentine's offerings include a special screening of 'Sleepless in Seattle' on the 80th Floor, the 'Happily Ever Empire' proposal package with private Observatory access and champagne, and a Baked by Melissa pop-up cart operating from Feb. 5-23. The building will feature its traditional pink heartbeat lighting display on February 14.
Recently voted the #1 attraction worldwide in the 2024 Tripadvisor Travelers' Choice Awards, the Observatory underwent a $165 million renovation featuring nine new gallery spaces and an enhanced 102nd Floor Observatory experience.
Empire State Realty Trust (NYSE: ESRT) has disclosed the tax treatment of its Class A common stock distributions for 2024. The company distributed a total of $0.140 per share throughout the year, paid in four equal quarterly installments of $0.035 per share.
The distributions were classified as follows:
- 100% as Ordinary Dividends (Box 1a)
- 0% as Qualified Dividends (Box 1b)
- 0% as Nondividend Distributions (Box 3)
- 100% qualifies as Section 199A Dividends (Box 5)
The payments were made on March 28, June 28, September 30, and December 31, 2024, with respective record dates of March 15, June 14, September 16, and December 16, 2024.
Empire State Realty Trust (NYSE: ESRT) has announced its schedule for the fourth quarter 2024 financial results release and conference call. The company will release its Q4 2024 financial results on Wednesday, February 19, 2025, after the NYSE market close. A conference call will follow on Thursday, February 20, 2025, at 12:00 p.m. Eastern Time.
During the call, company officers will review quarterly performance, discuss recent events, and hold a Q&A session. Financial materials, including the earnings release, supplemental information, and investor presentation, will be available on the company's website prior to the call. The conference call will be accessible via webcast through ESRT's website, with replay available for 7 days afterward.
Empire State Building announces its holiday season celebrations featuring extensive decorations, festive events, and special activities. The Observatory Experience will be adorned with wreaths, lights, tinsel, and a giant menorah, offering dedicated photo opportunities with Santa Claus on select dates in December. Special attractions include Ghirardelli Chocolate's hot cocoa service on the 86th Floor Observatory, holiday movie screenings of classics like 'Elf' and 'Home Alone 2', and a Starbucks Reserve® Winter Wonderland pop-up featuring exclusive offerings. The building's iconic tower will feature special lightings for Thanksgiving, Chanukah, Christmas, and New Year's Eve, complemented by a holiday music-to-light show.
Empire State Realty Trust (ESRT) announced a significant lease expansion with law firm Hecker Fink LLP at the Empire State Building. The firm signed a full-floor expansion of 26,782 square feet, bringing their total office space to 53,779 square feet across two floors. The expansion follows the firm's seven-year tenancy in the building, which offers over 65,000 square feet of amenities including dining options, a tenant-only fitness center, conference center, and the Empire Lounge. ESRT highlighted its track record of tenant expansions, noting 293 expansion leases totaling 2.8 million square feet since their IPO.
Empire State Realty Trust (ESRT) announced that Bloomsbury Publishing has signed a new 24,209 square foot lease for office space at 1359 Broadway. The property, located in the Broadway Pedestrian Plaza, offers modern amenities including a 170+ person tenant lounge, access to a future rooftop lounge, and proximity to major transportation. Bloomsbury's president, Sabrina McCarthy, cited the building's modern look, security, sunlight, and customized space as key factors in their decision. The publishing house, known for the Harry Potter series, was previously a tenant at 1400 Broadway.
Empire State Building (ESB) has unveiled the Empire Lounge, a new 10,000 square foot amenity space on the building's Club Level. This addition brings the total tenant-exclusive amenities to 65,000 square feet. The Empire Lounge features:
- A 400-person town hall meeting space
- A basketball/pickleball court
- Two golf simulators
- Varied seating areas and phone booths
These new amenities complement existing offerings such as a 15,000 square foot Fitness Club, a conference center, and seven in-building food and beverage options. ESRT has invested over $650 million since 2008 in modernizing the Empire State Building, resulting in strong leasing with 93.4% occupancy as of June 30, 2024.
Empire State Realty Trust (ESRT) has achieved the highest possible Global Real Estate Sustainability Benchmark (GRESB) 5 Star Rating for the fifth consecutive year, scoring 93 points. ESRT ranked first among all listed companies in the Americas and topped the most competitive peer group in the U.S.
ESRT excelled in the performance component, which includes risk assessment, energy, greenhouse gas emissions, water, and waste categories. The company also received top scores globally in leadership, policies, reporting, stakeholder engagement, targets, tenants and community, data monitoring and review, and building certification categories.
ESRT achieved carbon neutrality across its portfolio in January 2022 and aims for Net Zero carbon emissions with an 80% reduction in operational emissions at the Empire State Building by 2030 and throughout the portfolio by 2035.
The Empire State Building hosted its 46th Annual Run-Up, presented by Starbucks and powered by the Challenged Athletes Foundation (CAF). Over 650 runners from around the world raced up 1,576 stairs to the 86th Floor Observatory. Ryoji Watanabe of Japan won the Men's Elite heat with a time of 10:34, while Monica Carl of Germany won the Women's Elite heat in 13:30.
The event included various heats for building tenants, media members, and real estate brokers. Starbucks, which has a new Reserve® flagship store in the building, served as the presenting sponsor. CAF, the official charity partner, included athletes with permanent physical disabilities. The Empire State Building lit its tower green to celebrate the event.
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