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EMPIRE STATE REALTY TRUST, INC. - ESRT STOCK NEWS

Welcome to our dedicated page for EMPIRE STATE REALTY TRUST news (Ticker: ESRT), a resource for investors and traders seeking the latest updates and insights on EMPIRE STATE REALTY TRUST stock.

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.

News

Empire State Realty Trust Appoints Christina Chiu as President, Stephen V. Horn as Chief Financial Officer & Chief Accounting Officer

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Empire State Realty Trust, Inc. (ESRT) announced the promotion of Christina Chiu to President and Stephen V. Horn to Executive Vice President, Chief Financial Officer & Chief Accounting Officer. Anthony E. Malkin remains Chairman and CEO. Chiu's promotion recognizes her significant contributions and leadership, while Horn's promotion reflects his exceptional performance and financial expertise.
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The Empire State Building Introduces Ambassador Program for Superfans of its World-Famous Observatory Experience

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The Empire State Building (ESB) introduces a new ambassador program offering exclusive rewards like NFTs, complimentary tickets, and special experiences for visitors to the Observatory. Members progress through tiers to unlock benefits such as access to influencer events, Sunrise Experiences, and the Empire State Building Run-Up. The program includes custom NFTs for each tier achieved, developed in partnership with Uptop. Points and status acquired do not expire, and retroactive points are awarded for purchases made after Feb. 1, 2024. The Observatory recently underwent a $165 million reimagining and was voted the top U.S. attraction by Tripadvisor travelers.
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Burlington Stores, Inc. Expands by 67,865 Square Feet to Occupy a Total of 170,763 Square Feet at 1400 Broadway

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Empire State Realty Trust, Inc. (NYSE: ESRT) announced that Burlington Stores, Inc. signed an expansion lease for 67,865 square feet of office space at 1400 Broadway, bringing their total occupancy to 170,763 square feet across five floors. The 16-year lease term reflects the growing partnership between ESRT and Burlington. ESRT's modernized, amenitized, and energy-efficient portfolio continues to attract tenants seeking top-tier office spaces in New York City.
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Empire State Realty Trust Signs New Full-Floor Lease with Hanover Street Capital at 250 West 57th Street

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Empire State Realty Trust, Inc. (NYSE: ESRT) has signed a new lease with Hanover Street Capital for a 12,622 square foot space at 250 West 57th Street. The property features high-end, full-floor buildouts with premier indoor environmental quality and sustainability measures. The location offers convenient access to Central Park, Lincoln Center, and nearby dining, with tenant-only cabanas available for use. Hanover Street Capital cited the unbeatable location and move-in ready space as reasons for the lease. ESRT expressed pleasure in welcoming Hanover Street Capital to their tenant roster, emphasizing the building's convenient location and commitment to sustainability and indoor environmental quality.
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‘World’s Most Romantic Building:’ Empire State Building Celebrates Valentine’s Day with NYC's Most Romantic Date Experience, Engagement Package, and Film Screenings

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The Empire State Building (ESB) is celebrating Valentine's Day with special screenings of 'Clueless' and 'Sleepless in Seattle', an over-the-top $10k dinner on the 102nd floor, and an engagement package for couples. The building will also light up in a pink heartbeat on February 14th.
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Empire State Realty Trust Signs New Full-Floor Lease with Greater New York Mutual Insurance Company at the Empire State Building

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Empire State Realty Trust, Inc. (NYSE: ESRT) announced a new full-floor lease agreement with Greater New York Mutual Insurance Company (GNY Mutual) for a 52,116 square foot space at the Empire State Building. GNY Mutual, a 109-year-old insurance company, cited the building's sustainability measures and tenant amenities as factors that attracted them to the location. The Empire State Building offers modernized office spaces with top-tier amenities, including a tenant-only fitness center, conference center, and in-building dining options. ESRT continues to attract high-quality office tenants as it provides prime office spaces with exceptional amenities.
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Empire State Realty Trust Announces 2023 Tax Treatment of Its Distributions

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Empire State Realty Trust, Inc. (NYSE: ESRT) has announced the 2023 tax treatment of its Class A common stock distributions. The company paid a total distribution of $0.140 per share, with $0.125 allocated to ordinary dividends and $0.015 to Section 199A dividends. Stockholders are advised to consult with their tax advisors for personalized tax treatment.
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The Empire State Building Rings in the Year of the Dragon with Exclusive Sunrise Experiences at the Observatory, in Partnership with Trip.com Group

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The Empire State Building (ESB) will celebrate Lunar New Year 2024 with five Sunrise Experiences for a limited number of guests, in partnership with global travel service provider Trip.com Group. The events will be held at the Empire State Building for five consecutive days from Feb. 9-13. The Empire State Building Observatory recently underwent a $165 million reimagination that included a dedicated visitors entrance, an immersive museum with nine galleries, brand-new host uniforms, and a redesigned 102nd Floor Observatory with floor-to-ceiling windows.
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Empire State Realty Trust Welcomes Ghirardelli’s First-Ever New York Store to Its Retail Portfolio at the Empire State Building

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Empire State Realty Trust, Inc. (NYSE: ESRT) announced the addition of Ghirardelli Chocolate Company to its retail portfolio at the Empire State Building. The 2,758 square foot retail space will feature Ghirardelli's first-ever New York store. The company, known for its 171-year history and quality chocolate, is excited to bring its world-famous hot fudge sundae to New York City. The addition of Ghirardelli to the Empire State Building's food and beverage retailers enhances the iconic location's offerings for tenants and visitors.
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Empire State Realty Trust Announces Dates for Fourth Quarter 2023 Earnings Release and Conference Call

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Empire State Realty Trust, Inc. (NYSE: ESRT) to Release Fourth Quarter 2023 Financial Results
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FAQ

What is the current stock price of EMPIRE STATE REALTY TRUST (ESRT)?

The current stock price of EMPIRE STATE REALTY TRUST (ESRT) is $10.59 as of November 15, 2024.

What is the market cap of EMPIRE STATE REALTY TRUST (ESRT)?

The market cap of EMPIRE STATE REALTY TRUST (ESRT) is approximately 1.8B.

What is Empire State Realty Trust, Inc.?

Empire State Realty Trust, Inc. (NYSE: ESRT) is a leading real estate investment trust that owns, manages, and operates office and retail properties in Manhattan and the greater New York metropolitan area.

What properties does Empire State Realty Trust own?

Empire State Realty Trust's portfolio includes the iconic Empire State Building and other properties totaling 10.0 million rentable square feet in Manhattan, Connecticut, and Westchester County, New York.

Where is Empire State Realty Trust headquartered?

Empire State Realty Trust is headquartered in New York, New York.

What is the significance of the Empire State Building in ESRT's portfolio?

The Empire State Building is a landmark property within ESRT's portfolio, featuring office spaces and an observation deck, making it a major revenue generator and tourist attraction.

How much office space does Empire State Realty Trust manage?

Empire State Realty Trust manages around 9.4 million square feet of office space, with approximately 80% located in Manhattan.

What is the size of ESRT's retail portfolio?

ESRT's retail portfolio covers approximately 720,000 rentable square feet.

What are some recent projects of Empire State Realty Trust?

Recent projects include efforts to enhance tenant satisfaction, improve energy efficiency, and maintain the historic integrity of its properties.

Does Empire State Realty Trust focus on sustainability?

Yes, ESRT is committed to sustainability, striving for environmental certifications and implementing green building practices across its properties.

Who are the tenants of Empire State Realty Trust's properties?

ESRT's properties host a diverse tenant base, comprising various industries and sectors, ensuring a stable and robust financial condition.

How does Empire State Realty Trust ensure the value of its properties?

ESRT continually optimizes its properties through strategic management, tenant satisfaction initiatives, and sustainable practices, ensuring long-term value and performance.

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EMPIRE STATE REALTY TRUST, INC.

NYSE:ESRT

ESRT Rankings

#2069 Ranked by Market Cap
#1651 Ranked by Dividends

ESRT Stock Data

1.76B
165.78M
0.05%
88.87%
3.1%
REIT - Diversified
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United States of America
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