Empire State Realty Trust, Inc.ESRT
What Empire State Realty Trust, Inc. does.
Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused real estate investment trust ("REIT") that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT’s flagship Empire State Building, the “World's Most Famous Building,” features its iconic Observatory, ranked the #1 Top Attraction in New York City for the fourth consecutive year in Tripadvisor’s 2025 Travelers’ Choice Awards: Best of the Best Things to Do. The Company is a recognized leader in energy efficiency and indoor environmental quality.
As of December 31, 2025, our portfolio was comprised of approximately 7.9 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 743 residential units, which are located in New York City. Our office portfolio included 10 properties (including three long-term ground leasehold interests), all of which are located in Manhattan. Additionally, we have entitled land in Stamford, Connecticut that can support the development of either office or residential per local zoning.
We were organized as a Maryland corporation on July 29, 2011 and commenced operations upon completion of our initial public offering and related formation transactions on October 7, 2013 (the "Offering"). Our operating partnership, Empire State Realty OP, L.P. (the "Operating Partnership"), holds substantially all of our assets and conducts substantially all of our business. As of December 31, 2025, we owned approximately 61.4% of the aggregate operating partnership units in the Operating Partnership. We, as the sole general partner in the Operating Partnership, have responsibility and discretion in the management and control of the Operating Partnership, and the limited partners in the Operating Partnership, in such capacity, have no authority to transact business for, or participate in the management activities of, the Operating Partnership. Accordingly, the Operating Partnership has been consolidated by us. We elected to be subject to tax as a REIT for U.S. federal income tax purposes commencing with our taxable year ended December 31, 2013.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $609.2M | $624.1M | $727.0M | $739.6M | $767.9M | $768.3M |
| Net income | -$12.5M | -$13.0M | $63.2M | $84.4M | $80.4M | $73.0M |
| Free cash flow | $78.2M | -$185.9M | $125.2M | $63.3M | $88.0M | $50.6M |
More on ESRT.
- Empire State Realty Trust, Inc. summary
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- Empire State Realty Trust, Inc. health scores and style box
- Empire State Realty Trust, Inc. earnings
- Empire State Realty Trust, Inc. dividends
- Empire State Realty Trust, Inc. valuation
- Empire State Realty Trust, Inc. ownership and insiders
- Empire State Realty Trust, Inc. peers
Figures from Empire State Realty Trust, Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.