ESRT on NYSE
Empire State Realty Trust
Real estate company.1
Price unavailable
Last updated Oct 16, 2026.
Overview
Compare with Empire State Realty OP, L.P., Summit Hotel Properties, Inc. or HIGHWOODS PROPERTIES, INC., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Real Estate brought in 83% of the revenue Empire State Realty Trust broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Real Estate | $608.9M | $630.4M | $638.5M |
| Observatory, | $129.4M | $136.4M | $128.3M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs90¢$691.2M
- Income tax0¢$2.6M
- Profit10¢$73.0M
Out of $766.8M in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Dividends paid10¢$23.7M
- Share buybacks3¢$8.1M
- Kept or used elsewhere87¢$217.2M
Out of $249.1M of cash from operations.3
Financial statements
Every line of the income statement in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Rental revenue | $626.2M | $614.6M | $597.3M |
| Observatory revenue | $128.3M | $136.4M | $129.4M |
| Lease termination fees | $464.0K | $4.8M | $0 |
| Third-party management and other fees | $1.5M | $1.2M | $1.4M |
| Other revenue and fees | $11.8M | $11.0M | $11.5M |
| Total revenues | $768.3M | $767.9M | $739.6M |
| Property operating expenses | $184.7M | $179.2M | $167.3M |
| Ground rent expenses | $9.3M | $9.3M | $9.3M |
| General and administrative expenses | $72.8M | $70.2M | $63.9M |
| Observatory expenses | $38.2M | $36.8M | $35.3M |
| Real estate taxes | $132.7M | $128.8M | $127.1M |
| Depreciation and amortization | $194.8M | $184.8M | $189.9M |
| Total operating expenses | $632.6M | $609.2M | $592.9M |
| Total operating income | $135.6M | $158.7M | $146.7M |
| Interest income | $8.7M | $21.3M | $15.1M |
| Interest expense | -$103.1M | -$105.2M | -$101.5M |
| Interest expense associated with property in receivership | -$647.0K | -$4.5M | $0 |
| Loss on early extinguishment of debt | -$97.0K | -$553.0K | $0 |
| Gain on disposition of properties | $35.0M | $13.3M | $26.8M |
| Income before income taxes | $75.5M | $83.0M | $87.1M |
| Income tax expense | -$2.6M | -$2.7M | -$2.7M |
| Net income | $73.0M | $80.4M | $84.4M |
| Private perpetual preferred unit distributions | -$4.2M | -$4.2M | -$4.2M |
| Non-controlling interests in the Operating Partnership | -$25.4M | -$28.7M | -$31.1M |
| Non-controlling interests in other partnerships | $0 | -$4.0K | -$68.0K |
| Net income attributable to common stockholders | $43.4M | $47.4M | $49.0M |
| Basic (in shares) | 168.5M shares | 164.9M shares | 161.1M shares |
| Diluted (in shares) | 270.0M shares | 269.0M shares | 265.6M shares |
| Basic (in USD per share) | $0.26 | $0.29 | $0.30 |
| Diluted (in USD per share) | $0.25 | $0.28 | $0.30 |
Every line of the balance sheet in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Land | $458.7M | $386.4M | |
| Development costs | $8.2M | $8.2M | |
| Building and improvements | $3.7B | $3.4B | |
| Commercial real estate properties, at cost | $4.2B | $3.8B | |
| Less: accumulated depreciation | -$1.4B | -$1.3B | |
| Commercial real estate properties, net | $2.8B | $2.5B | |
| Contract asset | $0 | $170.4M | |
| Cash and cash equivalents | $132.7M | $385.5M | $346.6M |
| Restricted cash | $33.9M | $43.8M | $60.3M |
| Tenant and other receivables | $22.1M | $31.4M | |
| Deferred rent receivables | $255.3M | $247.8M | |
| Prepaid expenses and other assets | $93.4M | $101.9M | |
| Deferred costs, net | $267.7M | $184.0M | |
| Acquired below-market ground leases, net | $305.6M | $313.4M | |
| Right of use assets | $27.9M | $28.2M | |
| Goodwill | $491.5M | $491.5M | |
| Total assets | $4.5B | $4.5B | $4.2B |
| Mortgage notes payable, net | $619.3M | $692.2M | |
| Senior unsecured notes, net | $1.3B | $1.2B | |
| Unsecured term loan facilities, net | $336.8M | $268.7M | |
| Unsecured revolving credit facility | $145.0M | $120.0M | |
| Debt associated with property in receivership | $0 | $177.7M | |
| Accrued interest associated with property in receivership | $0 | $5.4M | |
| Accounts payable and accrued expenses | $120.2M | $132.0M | |
| Acquired below-market leases, net | $39.8M | $19.5M | |
| Ground lease liabilities | $27.9M | $28.2M | |
| Deferred revenue and other liabilities | $59.9M | $62.6M | |
| Tenants security deposits | $27.3M | $24.9M | |
| Total liabilities | $2.6B | $2.7B | |
| Preferred stock, $0.01 par value per share, 50,000 shares authorized, none issued or outstanding | $0 | $0 | |
| Additional paid-in capital | $1.1B | $1.1B | |
| Accumulated other comprehensive income | $6.5M | $9.9M | |
| Retained deficit | -$39.6M | -$58.9M | |
| Total Empire State Realty Trust, Inc.'s stockholders' equity | $1.1B | $1.0B | |
| Non-controlling interests in Operating Partnership | $732.2M | $721.3M | |
| Total equity | $1.8B | $1.8B | $1.7B |
| Total liabilities and equity | $4.5B | $4.5B | |
| Preferred stock, par value (in USD per share) | $0.01 | $0.01 | |
| Preferred stock authorized (in shares) | 50.0M shares | 50.0M shares | |
| Preferred stock issued (in shares) | 0 shares | 0 shares | |
| Preferred stock outstanding (in shares) | 0 shares | 0 shares |
Every line of the cash flow in the latest annual report, as filed.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $73.0M | $80.4M | $84.4M |
| Depreciation and amortization | $194.8M | $184.8M | $189.9M |
| Gain on sale/disposition of properties | -$35.0M | -$13.3M | -$26.8M |
| Amortization of non-cash items within interest expense | $8.7M | $8.6M | $9.1M |
| Amortization of acquired above- and below-market leases, net | -$3.2M | -$2.2M | -$2.4M |
| Amortization of acquired below-market ground leases | $7.8M | $7.8M | $7.8M |
| Straight-lining of rental revenue | -$18.0M | -$11.3M | -$19.6M |
| Equity based compensation | $25.2M | $21.7M | $20.0M |
| Loss on early extinguishment of debt | $97.0K | $553.0K | $0 |
| Security deposits | $2.6M | -$8.8M | $10.5M |
| Tenant and other receivables | $9.3M | $6.9M | -$15.6M |
| Deferred leasing costs | -$26.1M | -$21.6M | -$17.7M |
| Prepaid expenses and other assets | $149.0K | -$5.8M | -$5.2M |
| Accounts payable and accrued expenses | $9.4M | $13.6M | $746.0K |
| Deferred revenue and other liabilities | $454.0K | -$620.0K | -$2.8M |
| Net cash provided by operating activities | $249.1M | $260.9M | $232.5M |
| Acquisition of real estate property | -$412.0M | -$193.1M | -$26.9M |
| Net proceeds from disposition of real estate | $60.5M | $0 | $88.9M |
| Acquisition of non-controlling interests in other partnerships | $0 | -$14.2M | $0 |
| Reduction of cash from derecognition of property in receivership | $0 | -$12.9M | $0 |
| Post-closing costs from a prior period sale of property | $0 | -$4.0M | $0 |
| Additions to building and improvements | -$198.5M | -$172.9M | -$139.3M |
| Development costs | $0 | -$9.0K | -$12.0K |
| Net cash used in investing activities | -$550.0M | -$397.1M | -$77.3M |
| Repayment of mortgage notes payable | -$75.3M | -$11.9M | -$8.6M |
| Proceeds from unsecured senior notes | $175.0M | $225.0M | $0 |
| Repayment of unsecured term loan | -$100.0M | $0 | $0 |
| Proceeds from unsecured term loan | $245.0M | $95.0M | $0 |
| Repayment of unsecured term loan | -$175.0M | -$215.0M | $0 |
| Proceeds from unsecured revolving credit facility | $195.0M | $120.0M | $0 |
| Repayment of unsecured revolving credit facility | -$170.0M | $0 | $0 |
| Contributions from consolidated joint ventures | $0 | $0 | $187.0K |
| Deferred financing costs | -$4.3M | -$12.1M | $0 |
| Repurchases of common shares | -$8.1M | $0 | -$13.1M |
| Taxes paid on withholding taxes | -$911.0K | $0 | $0 |
| Private perpetual preferred unit distributions | -$4.2M | -$4.2M | -$4.2M |
| Dividends paid to common stockholders | -$23.7M | -$23.2M | -$22.7M |
| Distributions paid to non-controlling interests in the operating partnership | -$15.3M | -$15.1M | -$14.4M |
| Net cash provided by (used in) financing activities | $38.2M | $158.6M | -$62.9M |
| Net increase (decrease) in cash and cash equivalents and restricted cash | -$262.8M | $22.3M | $92.3M |
| Cash paid for interest | $93.4M | $94.7M | $92.0M |
| Federal | $1.6M | $867.0K | $710.0K |
| Cash paid for income taxes | $3.5M | $1.9M | $1.4M |
| Building and improvements included in accounts payable and accrued expenses | $51.5M | $73.5M | $51.8M |
| Write-off of fully depreciated assets | $25.5M | $14.3M | $33.4M |
| Write-off of fully amortized deferred costs | $46.6M | $11.8M | $11.5M |
| Interest capitalized in building and improvements | $464.0K | $0 | $0 |
| Derivative instruments at fair values included in prepaid expenses and other assets | $3.9M | $13.1M | $11.8M |
| Derivative instruments at fair values included in accounts payable and accrued expenses | $31.0K | $0 | $85.0K |
| Contract asset | -$171.0M | $170.4M | $0 |
| Debt associated with property in receivership | $177.7M | $0 | $0 |
| Derecognition of property in receivership and other assets, net | $0 | -$144.2M | $0 |
| Accrued interest associated with property in receivership | $0 | $5.4M | $0 |
| Conversion of operating partnership units and Class B shares to Class A shares | $20.1M | $15.3M | $17.7M |
Leadership
Who has led Empire State Realty Trust, and when. Pick a name to see everywhere that person has worked.
- Chief executive officerAnthony E. Malkin1
Subsidiaries and ownership
Owners
- Anthony E. Malkin 19%
- Fidelity Investments 10.3%
- The Vanguard Group 9.8%
Also owns
- Empire State Building
- One Grand Central Place
From Wikidata.1
Recent filings
- Oct 9, 20264
- Oct 5, 2026SCHEDULE 13D
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G/A
- Aug 14, 2026SCHEDULE 13G
- Aug 12, 2026SCHEDULE 13G/A
- Aug 6, 202610-Q
- Jul 30, 2026424B7
- Jul 30, 2026424B2
- Jul 8, 2026SCHEDULE 13G/A
- May 19, 20264
- May 19, 20264
- May 19, 20264
- May 19, 20264
- May 19, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websitewww.empirestaterealtytrust.com1
- WikidataQ27146006
- SEC EDGARCIK 1541401
Sources
The numbers on this page point here. Each one links to the record it came from.
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