Last $16.45 USD
Change Today +0.05 / 0.30%
Volume 364.5K
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New York
As of 4:15 PM 07/28/14 All times are local (Market data is delayed by at least 15 minutes).

empire state realty trust-a (ESRT) Snapshot

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06/5/14 - $17.34
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empire state realty trust-a (ESRT) Details

Empire State Realty Trust, Inc., a real estate investment trust (REIT), focuses on owning, managing, operating, and acquiring office and retail properties in Manhattan and the greater New York metropolitan area. It also intends to provide construction services to tenants and other entities. The company, formerly known as Empire Realty Trust, Inc., is based in New York, New York.

607 Employees
Last Reported Date: 03/24/14

empire state realty trust-a (ESRT) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $1.4M
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $653.8K
Chief of Property Operations & Leasing and Ex...
Total Annual Compensation: $603.8K
Executive Vice President, General Counsel and...
Total Annual Compensation: $503.8K
Compensation as of Fiscal Year 2013.

empire state realty trust-a (ESRT) Key Developments

Empire State Realty Trust Completes Acquisition of Interests in Two Manhattan Properties

Empire State Realty Trust, Inc. announced that it has completed the acquisition of the ground and operating leases at 112 West 34th Street and the ground lease at 1400 Broadway for a total of approximately $734 million in cash, common stock and operating partnership units. The leaseholds and fee title to a small contiguous property at 112 West 34th Street were acquired for approximately $423.6 million, or approximately $570 per square foot, consisting of $87.7 million by assumption of existing mortgage debt, $106.8 million in cash and $229.1 million in shares of Class A and Class B common stock and Series PR OP units. The leasehold at 1400 Broadway was acquired for $310.0 million, or approximately $346 per square foot, consisting of $80.0 million by assumption of existing mortgage debt, $79.7 million in cash, and $150.3 million in shares of Class A and Class B common stock and Series PR OP units. 112 West 34th Street is a 26-story, 650,769 rentable square foot office tower, with 92,455 square feet of retail space located in the 34th Street/Penn Station submarket. An 89,529 square foot block of retail space located directly across from Macy's location is currently being marketed for occupancy in mid-2016. The property's office and retail space is 77.5% occupied and 83.2% leased, as of June 30, 2014. 1400 Broadway is a 37-story 880,131 rentable square foot office tower with 19,815 square feet of retail space, located in the Times Square South submarket, and the property's office and retail space is 92.6% occupied and 92.7% leased, as of June 30, 2014. Both properties are convenient to Penn Station, Grand Central Terminal, Port Authority Bus Terminal, PATH and 13 subway lines. In addition, both properties have recently received significant capital investment.

Empire State Realty Trust, Inc. Leases Entire 33,214-Square-Foot 29th Floor of the Empire State Building to Bulova Corporation

Bulova Corporation has leased the entire 33,214-square-foot 29(th) floor of the Empire State Building, announced Empire State Realty Trust, Inc. Deborah van der Heyden and Paul Ferraro of JLL represented the tenant in the lease negotiations. Landlord representation was provided by Ryan Kass and Fred Posniak of ESRT, along with William Cohen, Jonathan Tootell and Shanae Ursini of Newmark Grubb Knight Frank. Amenities at the building include a 15,000-square-foot, tenant-only fitness center; State Grill and Bar, with private executive dining and event space (both opening this summer); a newly opened tenant-only conference center; multiple additional dining and food options; and a full complement of tenant services. The Empire State Building was recently certified Platinum by WiredNYC for its superior level of internet connectivity and diversity and access to fiber-based broadband.

Empire State Realty Trust, Inc. Announces Dividend for Second Quarter 2014, Payable on June 30, 2014

Empire State Realty Trust, Inc. announced that its Board of Directors has declared a dividend of $0.085 per share for the second quarter 2014, payable to holders of the Company's Class A common stock and Class B common stock and to holders of Empire State Realty OP, L.P.'s Series ES, Series 250 and Series 60 operating partnership units and Series PR operating partnership units. The dividend will be payable in cash on June 30, 2014 to stockholders and unitholders of record at the close of business on June 13, 2014.


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