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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.
The Empire State Building has partnered with Max and Sea Bags to transform the fabric from the 270-foot dragon Vhagar, part of the recent HBO's "House of the Dragon" takeover, into -edition recycled tote bags. The initiative repurposes 18,000 square feet of fabric, with a portion of proceeds donated to the Ocean Conservancy.
Each unique tote is made from a combination of dragon material and recycled sail cloth, featuring hand-spliced hemp rope handles and a brass clasp. The bags are individually numbered and come with a certificate of authenticity. This collaboration aligns with the Empire State Building's commitment to sustainability, having already reduced its emissions by 57% since 2007 and aiming for net zero emissions by 2030.
Empire State Realty Trust (NYSE: ESRT) has released its 2023 Schedule K-3, containing international tax information. This document can be accessed online at www.taxpackagesupport.com/esrop. The Schedule K-3 is particularly relevant for non-U.S. shareholders, those claiming foreign tax credits, and certain corporate and partnership shareholders. Shareholders needing this information for their U.S. income tax reporting are encouraged to review the details, refer to relevant U.S. laws, and consult their tax advisors.
Empire State Realty Trust (ESRT) has signed a lease with global management consulting firm Kearney for a 27,866 square foot duplex on the highest office floors of the Empire State Building. The new lease agreement marks Kearney's 100-year anniversary and positions their New York team in a landmark location. The Empire State Building, a fully modernized landmark, offers unparalleled amenities including a tenant-only fitness center, conference center, multiple dining options, and the soon-to-open Empire Lounge. The building is also noted for its premier indoor environmental quality and sustainability measures. Both Kearney's employees and ESRT's representatives expressed enthusiasm about the new arrangement.
The Empire State Building (ESB) announced it has been named the #1 Attraction in the World in Tripadvisor’s 2024 Travelers’ Choice Awards: Best of the Best Things to Do, and #1 Attraction in the U.S. for the third consecutive year. The ESB Observatory boasts over 60,000 5-star reviews, highlighting its authenticity, interactive exhibits, and breathtaking views. Recently reimagined with a $165 million investment, the Observatory now features a dedicated visitors entrance, an immersive museum with nine galleries, new uniforms for hosts, and an enhanced 102nd Floor Observatory.
ESB attracts global attention through social media and partnerships with brands like HBO’s “House of the Dragon” and Mercedes-AMG Petronas F1. Tripadvisor’s president, Kristen Dalton, praised the Empire State Building for its exceptional achievement, noting that the accolade places it among the top 1% of listings on their site. To celebrate, the Empire State Building’s tower lights will shine in Tripadvisor Green on June 25.
Empire State Realty Trust (NYSE: ESRT) will release its second quarter 2024 financial results on July 24, 2024, after market close. The following day, July 25, 2024, at 12:00 p.m. Eastern Time, the company will host a conference call to discuss the quarterly performance, recent events, and answer questions. The earnings release, supplemental materials, and investor presentation will be available on the company's website beforehand. The conference call can be accessed via live webcast on the company's website or by dialing in for a telephone conference. A replay will be available for seven days post-call.
Empire State Realty Trust (ESRT) has partnered with Max to debut a 270-foot-long dragon named Vhagar atop the Empire State Building (ESB) as part of a 'House of the Dragon' event. This spectacle caps a weeklong takeover of the ESB Observatory, featuring dynamic light shows and interactive elements. Vhagar, created with more than 153 rigging points, 1,700 patterns, and 600,000 inches of sewn seams, was fabricated by Bigger Than Life Advertising. The event follows several high-profile partnerships at the ESB, including those with Mercedes-AMG Petronas F1, WhatsApp, and 'Star Wars.' The ESB Observatory, recently renovated for $165 million, has been named Tripadvisor’s #1 U.S. attraction for two consecutive years. Tickets for the observatory and dragon event are available for purchase.
The Empire State Building (ESB) has launched a 'House of the Dragon' takeover for fans, in collaboration with Max.
This unique event provides visitors a chance to sit on the Iron Throne, interact with cast members, and enjoy themed attractions from June 10-18.
Highlights include a photo opportunity with the Iron Throne on the Grand Staircase, the chance to play Zynga's 'Game of Thrones: Legends' mobile game, and a watch party giveaway for the Season Two premiere.
The ESB's tower lights will glow green on June 10, and a pop-up by Tipsy Scoop will offer a special dragon fruit sorbet. The experience follows a $165 million renovation of the ESB Observatory, now a top U.S. attraction according to Tripadvisor.
Empire State Realty Trust (ESRT) has announced that key executives, including President Christina Chiu, EVP Tom Durels, and EVP/CFO Steve Horn, will present at the Nareit REITweek 2024 investor conference. The presentation is scheduled for June 5, 2024, from 12:30 p.m. to 1:00 p.m. Eastern Time.
The event will be accessible via a live audio-webcast on the company's website. A replay of the webcast will be available until July 5, 2024.
Empire State Realty Trust (NYSE: ESRT) has announced a significant leasing agreement with Pontera Solutions, a fintech company. Pontera will relocate from its current 10,539 square foot space at 111 W. 33rd Street to a larger 40,679 square foot space in the iconic Empire State Building. This move is part of ESRT's ongoing efforts to attract high-quality tenants and has contributed to a total of over 2.7 million square feet of tenant expansions since the company's IPO. The Empire State Building continues to be a prime location, offering modern office spaces with top-notch environmental quality and sustainability measures, along with a variety of amenities such as a fitness center, dining options, and soon-to-open recreational facilities. The lease negotiation involved representatives from JLL and Newmark. This expansion highlights the growing demand for quality office spaces in premier locations.
The Empire State Building partnered with WhatsApp and Mercedes-AMG PETRONAS F1 Team to produce a dynamic light show, Fifth Avenue demo run, exclusive pop-ups, and more. Festivities included appearances by Lewis Hamilton and Toto Wolff, featuring an exclusive opportunity for F1 fans to see iconic Mercedes-AMG F1 Team cars and immersive emoji experiences. The Empire State Building unveiled a street-to-Observatory takeover, celebrated WhatsApp's growth in the U.S., and debuted a dynamic race in lights featuring a new emoji race car. Lewis Hamilton drove down Fifth Avenue in a 2021 Mercedes-AMG F1 car, and the Empire State Building now features special emoji-themed designs and a Mercedes-AMG F1 branded engineering station.
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