Empire State Realty Trust, Inc.

Listed Company

ESRTCIK 0001541401NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$768.27M

Net Income

$72.98M

Total Assets

$4.47B

Equity

$1.06B

Shares Out

—

Op. Cash Flow

$249.05M

ESRT$5.77−24.08% · past yearDBEQ Basic

Daily closing prices

Business

Empire State Realty Trust, Inc. is a New York City-focused real estate investment trust that owns and operates a diversified portfolio of office, retail, and multifamily properties, plus the Empire State Building. The company derives revenue from leasing office and retail space to tenants, managing multifamily residential units, and operating the Empire State Building Observatory ticketing business. The portfolio comprises approximately 7.9 million rentable square feet of office space, 0.8 million square feet of retail space, and 743 residential units, all located in New York City, with entitled development land in Stamford, Connecticut.

Summary from 10-K filed 2026-03-02

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental revenue	626	615	597	591	560
Observatory revenue	128	136	129	106	41
Lease termination fees	464,000	5	0	20	16
Third-party management and other fees	1	1	1	1	1
Other revenue and fees	12	11	12	9	5
Total revenues	768	768	740	727	624
Property operating expenses	185	179	167	158	127
Ground rent expenses	9	9	9	9	9
General and administrative expenses	73	70	64	62	—
Observatory expenses	38	37	35	31	23
Real estate taxes	133	129	127	123	120
Depreciation and amortization	195	185	190	217	202
Total operating expenses	633	609	593	600	545
Total operating income	136	159	147	127	79
Interest income	9	21	15	5	704,000
Interest expense	−103	−105	−101	−101	—
Interest expense associated with property in receivership	−647,000	−4	0	0	—
Loss on early extinguishment of debt	−97,000	−553,000	0	0	−214,000
Gain on disposition of properties	35	13	27	34	0
Income before income taxes	76	83	87	65	−15
Income tax expense	−3	−3	−3	−2	2
Net income	73	80	84	63	−13
Private perpetual preferred unit distributions	−4	−4	−4	−4	−4
Non-controlling interests in the Operating Partnership	−25	−29	−31	−23	7
Non-controlling interests in other partnerships	0	−4,000	−68,000	243,000	0
Net income attributable to common stockholders	43	47	49	36	−11
Basic (in shares)	169	165	161	165	172
Diluted (in shares)	270	269	266	270	277
Basic (in USD per share)	0.26	0.29	0.3	0.22	−0.06
Diluted (in USD per share)	0.25	0.28	0.3	0.22	−0.06

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Land	459	386	366	366	336
Development costs	8	8	8	8	8
Building and improvements	3,739	3,392	3,281	3,178	3,157
Commercial real estate properties, at cost	4,206	3,787	3,655	3,551	3,501
Less: accumulated depreciation	−1,367	−1,274	−1,250	−1,137	−1,073
Commercial real estate properties, net	2,839	2,512	2,405	2,414	2,428
Contract asset	0	170	0	—	—
Cash and cash equivalents	133	385	347	264	424
Restricted cash	34	44	60	50	51
Tenant and other receivables	22	31	40	24	19
Deferred rent receivables	255	248	256	240	225
Prepaid expenses and other assets	93	102	98	98	77
Deferred costs, net	268	184	172	188	202
Acquired below-market ground leases, net	306	313	321	329	337
Right of use assets	28	28	28	29	29
Goodwill	492	491	491	491	491
Total assets	4,469	4,510	4,219	4,164	4,282
Mortgage notes payable, net	619	692	877	884	949
Senior unsecured notes, net	1,271	1,197	974	974	973
Unsecured term loan facilities, net	337	269	389	389	388
Unsecured revolving credit facility	145	120	0	0	0
Debt associated with property in receivership	0	178	0	—	—
Accrued interest associated with property in receivership	0	5	0	—	—
Accounts payable and accrued expenses	120	132	100	—	—
Acquired below-market leases, net	40	19	14	18	25
Ground lease liabilities	28	28	28	29	29
Deferred revenue and other liabilities	60	63	70	—	—
Tenants security deposits	27	25	35	25	29
Total liabilities	2,647	2,728	2,488	2,481	2,598
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.01 par value per share, 50,000 shares authorized, none issued or outstanding	0	0	0	0	0
Additional paid-in capital	1,091	1,078	1,061	1,055	1,151
Accumulated other comprehensive income	7	10	6	7	−21
Retained deficit	−40	−59	−83	−109	−134
Total Empire State Realty Trust, Inc.'s stockholders' equity	1,060	1,031	986	954	998
Non-controlling interests in Operating Partnership	732	721	700	683	643
Total equity	1,822	1,782	1,731	1,683	1,684
Total liabilities and equity	4,469	4,510	4,219	4,164	4,282

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	195	185	190	217	202
Gain on sale/disposition of properties	−35	−13	−27	−34	0
Amortization of non-cash items within interest expense	9	9	9	10	11
Amortization of acquired above- and below-market leases, net	−3	−2	−2	−5	−6
Amortization of acquired below-market ground leases	8	8	8	8	8
Straight-lining of rental revenue	−18	−11	−20	−25	−21
Equity based compensation	25	22	20	21	20
Security deposits	3	−9	10	−828,000	−1
Tenant and other receivables	9	7	−16	−5	3
Deferred leasing costs	−26	−22	−18	−37	—
Prepaid expenses and other assets	149,000	−6	−5	−2	6
Accounts payable and accrued expenses	9	14	746,000	5	−99,000
Deferred revenue and other liabilities	454,000	−620,000	−3	−4	12
Net cash provided by operating activities	249	261	232	211	212
Acquisition of real estate property	−412	−193	−27	−116	−118
Net proceeds from disposition of real estate	61	0	89	11	0
Acquisition of non-controlling interests in other partnerships	0	−14	0	0	—
Reduction of cash from derecognition of property in receivership	0	−13	0	0	—
Post-closing costs from a prior period sale of property	0	−4	0	0	—
Additions to building and improvements	−198	−173	−139	−126	−95
Development costs	0	−9,000	−12,000	−35,000	−165,000
Net cash used in investing activities	−550	−397	−77	−231	−213
Repayment of mortgage notes payable	−75	−12	−9	−8	−4
Proceeds from unsecured senior notes	175	225	0	0	0
Repayment of unsecured term loan	−100	0	0	0	0
Proceeds from unsecured term loan	245	95	0	0	—
Repayment of unsecured term loan	−175	−215	0	—	—
Proceeds from unsecured revolving credit facility	195	120	0	0	0
Repayment of unsecured revolving credit facility	−170	0	0	0	0
Contributions from consolidated joint ventures	0	0	187,000	224,000	0
Deferred financing costs	−4	−12	0	0	−9
Repurchases of common shares	−8	0	−13	−90	−47
Taxes paid on withholding taxes	−911,000	0	0	—	—
Private perpetual preferred unit distributions	−4	−4	−4	−4	−4
Dividends paid to common stockholders	−24	−23	−23	−23	−18
Distributions paid to non-controlling interests in the operating partnership	−15	−15	−14	−15	−10
Net cash provided by (used in) financing activities	38	159	−63	−140	−93
Net increase (decrease) in cash and cash equivalents and restricted cash	−263	22	92	−160	−93
Cash paid for interest	93	95	92	91	78
Federal	2	867,000	710,000	—	—
Cash paid for income taxes	4	2	1	200,000	644,000
Building and improvements included in accounts payable and accrued expenses	51	74	52	44	—
Write-off of fully depreciated assets	26	14	33	35	31
Write-off of fully amortized deferred costs	47	12	11	—	—
Interest capitalized in building and improvements	500,000	0	0	—	—
Derivative instruments at fair values included in prepaid expenses and other assets	4	13	12	18	0
Derivative instruments at fair values included in accounts payable and accrued expenses	31,000	0	85,000	0	25
Contract asset	−171	170	0	0	—
Debt associated with property in receivership	178	0	0	—	—
Derecognition of property in receivership and other assets, net	0	−144	0	0	—
Accrued interest associated with property in receivership	0	5	0	0	—
Conversion of operating partnership units and Class B shares to Class A shares	20	15	18	4	10

Filings

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Frequently asked questions

What is Empire State Realty Trust, Inc.'s CIK number?

Empire State Realty Trust, Inc.'s SEC CIK number is 0001541401 (1541401). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Empire State Realty Trust, Inc.'s SEC filings?

All of Empire State Realty Trust, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Empire State Realty Trust, Inc. last report earnings?

Empire State Realty Trust, Inc. (ESRT) most recently filed an earnings 8-K with the SEC on Apr 29, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001541401-26-000016). This is Empire State Realty Trust, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Empire State Realty Trust, Inc.'s most recent earnings 8-K?

Empire State Realty Trust, Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 29, 2026 under accession 0001541401-26-000016. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

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