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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) announced a long-term commercial lease with the Claims Conference for 33,803 square feet at 1359 Broadway, a property they have occupied since 2007. Claims Conference will relocate within the same building, which is fully modernized and offers energy-efficient features. The building's prime location in Midtown Manhattan provides easy access to transportation and amenities. ESRT has seen significant tenant expansions since its 2013 IPO, totaling 2.5 million square feet. This lease reflects ESRT's commitment to sustainability and tenant growth.
Empire State Building introduces a new sunrise experience beginning April 1, featuring stunning views from the 86th Floor Observatory. Guests will enjoy complimentary Starbucks Reserve microblend coffee and artisanal Princi pastries during this exclusive event offered every Saturday. Reservations are required due to limited capacity. This experience follows a $165 million renovation of the Observatory, now recognized as the #1 attraction in the U.S. and #3 globally per Tripadvisor's 2022 awards. The enhanced facility boasts immersive exhibits detailing the Empire State Building's rich history.
Empire State Realty Trust (NYSE: ESRT) announced that Chairman and CEO Anthony E. Malkin, along with COO and CFO Christina Chiu, will present at the Citi 2023 Global Property CEO Conference on March 6, 2023, at 3:40 PM Eastern Time. The company manages office, retail, and multifamily properties in Manhattan and the greater New York area, including the iconic Empire State Building. A live audio-webcast will be available on the company’s website, with a replay accessible until March 6, 2024. As of December 31, 2022, ESRT’s portfolio includes approximately 8.9 million rentable square feet of office space and 721 residential units.
Empire State Realty Trust (NYSE: ESRT) announced the leasing of approximately 100,000 square feet at the Empire State Building (ESB) between late 2022 and early 2023. This includes a significant 16-year lease of 65,000 square feet by a North American engineering firm, alongside OFS Brands and Resolution Life, Inc., which signed leases totaling 23,500 square feet. The new tenants were attracted by ESB's sustainability practices, extensive amenities, and strategic location in New York City. The engineering firm's identity will be disclosed by March 2023.
On February 17, the Empire State Building (ESB) and iHeartMedia will host the "iHeartRadio Album Release Party with P!NK" to celebrate her new album, TRUSTFALL. The event includes a special lighting ceremony with P!NK flipping the switch at the Observatory, followed by an exclusive interview and performance on the 80th floor. Fans can win tickets through iHeartRadio stations from February 9 to 16. The lighting show, set to her new single "Never Gonna Not Dance Again," will air on New York's Z100 and 103.5 KTU. ESB has recently undergone a $165 million renovation and is the number one attraction in the U.S., welcoming over 4 million visitors annually.
Empire State Realty Trust (NYSE: ESRT) has achieved the WELL Health-Safety Rating across its entire portfolio for the third consecutive year. This certification highlights the company’s commitment to healthy indoor environments.
ESRT became the first commercial real estate portfolio in the Americas to obtain this rating and is among the first globally to complete its annual renewal. The company plans to engage with the WELL at scale program and adopt the newly introduced WELL Equity Rating, focusing on diversity and inclusion. The WELL Health-Safety Rating ensures that buildings meet rigorous health and safety standards, further validating ESRT's leadership in creating healthy buildings.
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