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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), a prominent REIT managing diverse assets in Manhattan and New York, announced the 2022 tax treatment of its Class A common stock distributions. Stockholders are encouraged to consult tax advisors regarding the cash distributions paid throughout 2022, which totaled $0.140 per share, with specific allocations outlined for various tax reporting categories. Notably, the Empire State Building remains a key asset and a top U.S. attraction, enhancing the company’s profile in the real estate market.
The Empire State Building has introduced new uniforms designed by renowned fashion designer Peyman Umay, following a $165 million renovation of its Observatory Experience. The modern uniforms reflect the building's iconic Art Deco style and were selected through social media votes. The new attire features a gray color scheme with blue accents and custom embroidered details, aiming to enhance the guest experience. To celebrate, the building's tower lights will be illuminated in blue on January 24. The redesign seeks to blend the Empire State Building's rich history with a contemporary vision, positioning it as an essential part of New York City culture.
The Empire State Building has initiated celebrations for Lunar New Year with a stunning tower lighting ceremony and a vibrant musical performance. This year marks the return of in-person events, showcasing a pop-up by Sheng Mary Bakery and festive displays across its 86th Floor Observatory and Fifth Avenue windows. Iconic red lights illuminate the building tonight, symbolizing good fortune. The themed window displays will be available until February 15. Empire State Realty Trust highlights the building's reimagined Observatory Experience, which includes new interactive exhibits and a focus on cultural appreciation.
Empire State Realty Trust, Inc. (NYSE: ESRT) will release its fourth quarter 2022 financial results on February 15, 2023, after market close. A conference call is scheduled for February 16, 2023, at 12:00 p.m. ET, where company officers will discuss performance and recent events. The call will be available on the company's website, along with the earnings release and supplementary materials.
Empire State Realty Trust manages significant assets in Manhattan, including the Empire State Building, a top U.S. attraction.
Empire State Realty Trust (NYSE: ESRT) announced that Leslie D. Biddle will resign from its Board of Directors effective January 16, 2023, to join the U.S. Department of Energy. Biddle expressed gratitude for her experience at ESRT, highlighting the company's leadership in sustainability and energy efficiency. President Anthony Malkin acknowledged her invaluable contributions and stated a search for her replacement is underway. ESRT is a leading REIT managing office, retail, and multifamily properties primarily in Manhattan, known for the iconic Empire State Building.
Empire State Realty Trust (NYSE: ESRT) announced the addition of Calzedonia USA, an Italian legwear and beachwear brand, to its retail portfolio at 1333 Broadway. This new lease, covering 902 square feet, completes the full leasing of all retail spaces at the location. Positioned on the Broadway pedestrian plaza, 1333 Broadway benefits from significant foot traffic and is accessible to major transport hubs. This development underscores ESRT's strategy of attracting high-quality tenants to its well-located retail spaces.
Empire State Realty Trust (NYSE: ESRT) announced significant updates regarding its operations. The company acquired a multifamily asset at 298 Mulberry Street in Manhattan for
The Empire State Building (ESB), in partnership with iHeartMedia (IHRT), is launching its annual holiday music-to-light show featuring songs from the Backstreet Boys' new album, "A Very Backstreet Christmas." The light show will premiere on Dec. 19 and continue nightly through Dec. 25, synchronized with a broadcast at 7 p.m. EST on select iHeartRadio stations. The event aims to unite fans worldwide and continues the ESB's tradition of spreading joy during the holiday season.
Empire State Realty Trust, Inc. (NYSE: ESRT) has appointed Christina Chiu as Chief Operating Officer while she retains her role as Chief Financial Officer. Chiu, who joined ESRT in 2020, will oversee multiple areas, including financial reporting and investor relations. Her previous experience includes 18 years at Morgan Stanley. ESRT’s Chairman noted her contributions are crucial for stakeholder value enhancement and operational efficiencies. The company focuses on leveraging its strong balance sheet and modernized assets to pursue growth.
The Empire State Building (ESB) has launched its festive season with extravagant holiday decorations and events, starting November 28 through December 30. The observatory features a reimagined experience with a $165 million upgrade, including a new guest entrance and immersive exhibits. Guests can enjoy holiday music from professional pianists on weekdays and visit Santa on December 4. Additionally, the new Starbucks Reserve offers dining options. The iconic tower will be lit for various holidays, enhancing the festive ambiance for over 4 million annual visitors.
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