Empire State Realty Trust Announces Fourth Quarter 2013 Results

– Reports Core FFO of $0.17 Per Fully Diluted Share –

–Management Pleased with Results, Company Well-Positioned to Meet Its Goals –

Empire State Realty Trust, Inc. (NYSE:ESRT) (the “Company”), a real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today reported operational and financial results for the fourth quarter 2013. The Company completed its initial public offering (“IPO”) and related formation transactions on October 7, 2013, and the results reflect the portion of the period during which the Company operated as a publicly traded company.

“We are pleased with ESRT’s operating and financial results for the fourth quarter 2013,” stated Anthony E. Malkin, Empire State Realty Trust’s Chairman, Chief Executive Officer, and President. “With the successful completion of our formation transactions and initial public offering, we are well-positioned to meet our goals. Our well-funded balance sheet supports the implementation of our redevelopment, repositioning and leasing strategies and allows us to take advantage of any external growth opportunity which we find compelling. The Company is currently in process on its option to purchase properties as set forth in the option agreements. Our balance sheet is one of our greatest assets, and we will deploy it judiciously in our efforts to create real value. The combination of Empire State Realty’s team’s execution, competitive position, and ability to take advantage of opportunity, makes me confident about our future.”

Fourth Quarter Highlights

  • Achieved fourth quarter 2013 Core Funds From Operations (“Core FFO”) of $0.17 per fully diluted share. Fourth quarter net income attributable to the Company was $0.79 per fully diluted share
  • Total portfolio was 86.1% occupied, up 40 basis points from September 30, 2013; including signed leases not commenced (“SLNC”), the total portfolio was 87.7% leased at December 31, 2013
  • Manhattan office portfolio (excluding the retail component of these properties) was 84.4% occupied, up 70 basis points from September 30, 2013; including SLNC, the Manhattan office portfolio (excluding the retail component of these properties) was 86.0% leased at December 31, 2013
  • Retail portfolio was 91.9% occupied, up 30 basis points from September 30, 2013; including SNLC, the Company’s retail portfolio was 92.7% leased at December 31, 2013
  • Empire State Building was 82.2% occupied, up 20 basis points from September 30, 2013; including SLNC, the Empire State Building was 82.3% leased at December 31, 2013
  • Executed 55 leases, representing 414,806 rentable square feet across the total portfolio, achieving a 6.1% increase in mark-to-market rent over previously fully escalated rents on new, renewal, and expansion leases; 42 of these leases, representing 359,902 rentable square feet, were within the Manhattan office portfolio, achieving an 8.0% increase in mark-to-market rent over previously fully escalated rents on new, renewal and expansion leases
  • Completed the IPO and formation transactions and issued 82.225 million shares of Class A common stock, raising approximately $884.1 million net of offering costs. The Company used the net proceeds from the offering primarily to fund certain formation transaction costs and fees and make cash payments to holders of interests in the existing entities, including the Helmsley estate. Additionally, the Company closed on an $800.0 million secured revolving and term credit facility
  • Declared a partial dividend of $0.0795 per common share and operating partnership unit, which was paid on December 30, 2013, to shareholders and unitholders of record on December 16, 2013 for the period from October 7, 2013 to December 31, 2013, representing a full quarter dividend of $0.085 per share

Financial results for October 7, 2013 through December 31, 2013

Core FFO was $41.4 million, or $0.17 per fully diluted share. Core FFO excludes the impact of acquisition costs, severance costs, retirement equity compensation costs, and gains on the consolidation of non-controlled entities. FFO, which includes these factors, was $220.8 million, or $0.90 per fully diluted share.

Net income attributable to the Company was $75.2 million, or $0.79 per fully diluted share.

For all periods prior to the completion of the IPO and the formation transactions, the predecessor results of operations contain unconsolidated results for certain entities that owned interests in the Empire State Building1350 Broadway1333 Broadway and 501 Seventh Avenue, which make up a significant portion of the Company subsequent to the completion of the IPO and formation transactions.

Portfolio Operations

The Company reported that its total portfolio, containing 8.4 million rentable square feet of office and retail space, was 86.1% occupied at the end of the fourth quarter 2013. Percentage occupied was up 40 basis points from 85.7% at the end of the third quarter 2013, and up 630 basis points from 79.8% at the end of the fourth quarter 2012. Including SLNC, the Company’s portfolio was 87.7% leased at December 31, 2013.

The Company’s office portfolio (excluding the retail component of these properties) containing 7.7 million rentable square feet, was 85.6% occupied at the end of the fourth quarter 2013, up 40 basis points from the end of the third quarter of 2013, and up 610 basis points from the end of the fourth quarter of 2012. Including SLNC, the Company’s office portfolio (excluding the retail component of these properties) was 87.3% leased at December 31, 2013.

The Manhattan office portfolio (excluding the retail component of these properties) containing 5.9 million rentable square feet was 84.4% occupied at the end of the fourth quarter 2013, up 70 basis points from the end of the third quarter 2013, and up 720 basis points from the end of the fourth quarter 2012. Including SLNC, the Company’s Manhattan office portfolio (excluding the retail component of these properties), was 86.0% leased at December 31, 2013.

The Company’s retail portfolio, containing approximately 623,000 rentable square feet, was 91.9% occupied at the end of the fourth quarter 2013. This compares to 91.6% at the end of the third quarter of 2013, and compares to 84.4% at the end of the fourth quarter of 2012. Including SLNC, the Company’s retail portfolio was 92.7% leased at December 31, 2013.

Leasing

For the three months ended December 31, 2013, the Company executed 55 leases within the total portfolio, comprising 414,806 rentable square feet. Total leasing volume included 51 office leases, comprising 406,213 rentable square feet, and four retail leases, comprising 8,593 rentable square feet.

On a blended basis, the 55 new, renewal and expansion leases signed within the total portfolio during the quarter had an average starting rental rate of $43.82 per rentable square foot, representing an increase of 6.1% over the prior in-place rent on a fully escalated basis.

Leases signed in the Fourth Quarter 2013 for the Manhattan office portfolio included

  • 23 renewal leases, comprising 296,876 rentable square feet, with an average starting rental rate of $42.17 per rentable square foot, representing an increase of 6.9% over the prior in-place rent on a fully escalated basis, and
  • 19 new leases comprising 63,026 rentable square feet, with an average starting rental rate of $44.97 per rentable square foot, representing an increase of 13.5% over the prior in-place rent on a fully escalated basis

Significant leases that were executed during the fourth quarter included:

  • At 501 Seventh Avenue, the Company signed a 223,616 rentable square foot renewal and expansion lease with PVH Corp. (NYSE: PVH), one of the world’s largest apparel companies, for a term of 15 years
  • At 1359 Broadway, the Company signed a 48,387 rentable square foot renewal lease with Ipreo Holdings LLC, a KKR-owned company that is a global leader of data, market intelligence and productivity solutions to capital markets and corporate professionals, for a term of 15.5 years
  • At First Stamford Place, the Company signed a 22,429 rentable square foot new lease with Novitex Enterprise Solutions, an Apollo Global Management-owned company that is a leading provider of document and data solutions, for a term of 7.3 years

Empire State Building Update

The Company continues to renovate and re-lease the 2.8 million rentable square foot Empire State Building, its flagship property. At December 31, 2013, the Empire State Building was 82.2% occupied; including SLNC, the Empire State Building was 82.3% leased.

In the fourth quarter 2013, the Company executed nine office leases and one retail lease at the Empire State Building, representing 34,076 rentable square feet. Additionally, in 2013 the Company entered into an agreement with the Patina Group to supervise the design and construction of, and manage a new restaurant in the building, which will be owned by the Company. The Company has also commenced construction of a new state-of-the-art tenants-only fitness center, to be located in space on the building’s concourse, its first below grade level. The work on the restaurant and fitness center is expected to be complete by the end of the second quarter and operations will commence by the end of the third quarter of 2014.

The Empire State Building Observatory hosted approximately 980,000 visitors in the fourth quarter 2013, representing an 8.5% increase from the same period of 2012. Observatory visitor statistics are presented for the full fourth quarter. Observatory revenue for the full fourth quarter grew 10.4% to $25.4 million, from $23.0 million in the fourth quarter of 2012, through a combination of a more profitable mix of ticket categories and direct sales to visitors.

For the twelve months ended December 31, 2013, the Empire State Building Observatory hosted 4.3 million visitors, a 2.7% increase from the same period in 2012. Observatory revenue was $101.8 million, a 10.8% increase from $91.9 million for the twelve months ended December 31, 2012.

Balance Sheet and Financial Transactions

During October 2013, the Company completed its IPO and issued 82.225 million shares of Class A common stock at $13.00 per share, including the full exercise of the underwriter’s option to purchase additional shares, raising aggregate net proceeds of approximately $884.1 million. The Company used the net proceeds from the IPO primarily to fund certain formation transaction costs and fees and make cash payments to holders of interests in the existing entities, including the Helmsley estate. Upon completion of the IPO, the Company had approximately 245.5 million shares outstanding on a fully diluted basis, including shares of Class A common stock, shares of Class B common stock, and operating partnership units.

In connection with its IPO and formation transactions, the Company put in place an $800.0 million secured revolving and term credit facility. As of December 31, 2013, the outstanding balance on the term loan and credit facility was $325.0 million. The secured revolving and term credit facility has an accordion feature, allowing for an increase in maximum aggregate principal balance to $1.25 billion under certain circumstances.

At December 31, 2013, the Company had total debt outstanding of approximately $1.2 billion, with a weighted average interest rate of 4.56% per annum, and a weighted average term to maturity of 3.1 years. The Company has approximately $197.5 million of debt maturing during the remainder of 2014, and approximately $90.5 million maturing in 2015.

Dividend

On February 21, 2014, the Company announced that its Board of Directors declared a dividend of $0.085 per share for the first 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 (NYSE Arca: ESBA, FISK and OGCP, respectively) and Series PR operating partnership units. The dividend will be payable in cash on March 31, 2014 to stockholders and unitholders of record at the close of business on March 14, 2014.

Webcast and Conference Call Details

Empire State Realty Trust will host a webcast and conference call, open to the general public, on Friday, February 28, 2014 at 10:00 am Eastern time.

The webcast will be available in the Investor Relations section of the Company’s website at www.empirestaterealtytrust.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. Shortly after the call, a replay of the webcast will be available for 90 days on the Company’s website.

The conference call can be accessed by dialing 1-877-705-6003 for domestic callers or 1-201-493-6725 for international callers. A replay will be available shortly after the call and can be accessed by dialing 1-877-870-5176 for domestic callers or 1-858-384-5517 for international callers. The passcode for the replay is 13575372. A replay of the conference call will be available until March 7, 2014.

The Supplemental Package will be available prior to the conference call in the Investor Relations section of the Company’s website, www.empirestaterealtytrust.com.

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous office building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 8.4 million rentable square feet, as of December 31, 2013, consisting of 7.7 million rentable square feet in 12 office properties, including seven in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 623,000 rentable square feet in the retail portfolio. The Company also owns land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage and has an option to acquire two additional Manhattan office properties encompassing approximately 1.5 million rentable square feet of office space and over 150,000 rentable square feet of retail space at the base of the buildings.

Non-GAAP Financial Measures

The Company has used non-GAAP financial measures in this press release. A reconciliation of each non-GAAP financial measure and the comparable GAAP financial measure can be found on page eight of this release and in the Company’s supplemental package.

Forward-Looking Statements

This press release includes “forward looking statements”. Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates,” “contemplates,” “aims,” “continues,” “would” or “anticipates” or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in (i) the Company’s prospectus relating to the IPO, including those set forth under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business and Properties” (ii) the Company’s Quarterly Report on Form 10-Q for the three months ended September 30, 2013 under the headings “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and (iii) in future periodic reports filed by the Company under the Securities and Exchange Act of 1934, as amended. While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company’s future results, performance or transactions, see the section entitled “Risk Factors” in the prospectus relating to the IPO, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).

Investors
Empire State Realty Trust Investor Relations
212-850-2678
IR@empirestaterealtytrust.com
or
Media
Sard Verbinnen & Co.
Brandy Bergman/Hugh Burns
212-687-8080

3i Debt Management Leases Full Floor at One Grand Central Place; Johnson Controls Expands

3i Debt Management has leased an entire tower floor at One Grand Central Place, announces Empire State Realty Trust, Inc. (NYSE:ESRT) (“ESRT”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area.

In addition, Johnson Controls, Inc. (NYSE:JCI) has expanded its existing occupancy by leasing the entire 29th floor of the building.

3i Debt Management’s space on the 41st floor, which will house the firm’s U.S. headquarters, encompasses approximately 12,000 square feet and features panoramic cityscape views. 3i is a leading international investor focused on mid-market private equity, infrastructure and debt management across Europe, Asia and the Americas. The firm previously was at 400 Madison Avenue and the Seagram Building.

Alex Chudnoff and Daniel Turkewitz of Jones Lang LaSalle represented 3i in the lease negotiations.

Meanwhile, JCI, a global diversified technology and industrial firm with customers in more than 150 countries and over 170,000 employees, has renewed and expanded into approximately 17,000 square feet. The firm has been a tenant of One Grand Central Placesince 2004.

Thomas Pulie of USI Real Estate Brokerage Services represented JCI in the lease negotiations.

William Cohen and Julie Christiano of Newmark Grubb Knight Frank and Ryan Kass of ESRT represented the landlord in both transactions.

One Grand Central Place continues to attract and retain top tenants, from major corporations to financial firms, and 3i’s new lease and JCI’s renewal and expansion are great examples,” says Thomas P. Durels, ESRT’s Executive Vice President, Chief of Property Operations and Leasing. “Its unparalleled location with convenient in-building access to Grand Central Terminal, broad variety of spaces and floorplates, on-site amenities, and distinctive architecture appeal to quality tenants such as Allianz, Balfour Beatty Infrastructure Partners and Gerson Lehrman Group, who all signed in 2013.”

For more information about 3i and JCI, please visit www.3i.com and www.johnsoncontrols.com, respectively.

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE:ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous office building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 8.4 million rentable square feet, as of September 30, 2013, consisting of 7.8 million rentable square feet in 12 office properties, including seven in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 645,000 rentable square feet in the retail portfolio. The Company also owns land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage and has an option to acquire two additional Manhattan office properties encompassing approximately 1.5 million rentable square feet of office space and over 150,000 rentable square feet of retail space at the base of the buildings.

Forward-Looking Statements

This press release includes “forward looking statements”. Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates,” “contemplates,” “aims,” “continues,” “would” or “anticipates” or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in the Company’s prospectus relating to the initial public offering, including those set forth under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business and Properties.” While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company’s future results, performance or transactions, see the section entitled “Risk Factors” in the prospectus relating to the initial public offering, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).

Empire State Building Observatory Unveils State-Of-The-Art Multimedia Experience

Empire State Building Observatory today announced the launch of its new Multimedia Experience which guides visitors through the icon’s extraordinary exhibits and views with additional depth on the building’s history. Created by industry leader Antenna International, the multimedia tour is included in the admission price and given to each guest to enhance the once-in-a-lifetime visit to the World’s Most Famous Office Building, with its unrivaled views from the very center of New York City. The state-of-the-art technology adds to guests’ already unforgettable experience with a contemporary educational approach.

First-in-class technology is combined with consumer-friendly navigation on a handheld device. As visitors travel throughout the building, the tour offers an audio and visual companion through four educational areas: the recently enhanced Sustainability Exhibit, the “Dare to Dream” Exhibit about the historic construction of the building, and concludes with the world-famous 86th and 102nd Floor Observatories. “Fun” and “Info” sections of the app, along with several videos, image galleries, quizzes and maps showing points of interest nearby, make for an even more engaging and entertaining visit. The Multimedia Experience allows visitors to select their experience in English, Spanish, French, Italian, Mandarin, Portuguese, Japanese and Korean.

“Our millions of visitors from around the world can now experience the same level of first-in-class technology we have brought to the entire building with our massive Empire State ReBuilding program. The multimedia, handheld device adds to the already unforgettable experience,” said Anthony E. Malkin, Chairman, President and CEO of Empire State Realty Trust, Inc. (NYSE: ESRT). “This is just the latest gift for ESB fans. With the new multimedia offering, guests will gain a deeper knowledge of the building, its place in history and its leadership today.”

The Empire State Building Observatory enlisted Antenna International, the global expert in its field, to create the new tour. Antenna International has created similar tours at 1,200 cultural sites and institutions around the world, from the Louvre to Alcatraz, for more than 60 million visitors every year.

“Antenna International is honored the Empire State Building partnered with us to develop this one-of-a-kind experience for their valued guests to enjoy,” said Mark LoGiurato, General Manager, Americas, Antenna International. “We are proud to bring our expertise and groundbreaking technology to such a renowned global icon. We are thrilled to add this landmark to the hundreds of destinations we work with around the world.”

Visitors are given the Multimedia Experience free of charge with admission to the Observatory immediately at the beginning of their experience. To purchase tickets online in advance of visiting ESB, visit http://www.esbnyc.com/buy_tickets.asp.

About the Empire State Building

Soaring 1,454 feet above Midtown Manhattan (from base to antenna), the Empire State Building, owned by Empire State Realty Trust, Inc., is the “World’s Most Famous Office Building.” With new investments in energy efficiency, infrastructure, public areas and amenities, the Empire State Building has attracted first-rate tenants in a diverse array of industries from around the world. The skyscraper’s robust broadcasting technology supports all major television and FM radio stations in the New York metropolitan market. The Empire State Building was named America’s favorite building in a poll conducted by the American Institute of Architects, and the Empire State Building Observatory is one of the world’s most beloved attractions as the region’s #1 tourist destination. For more information on the Empire State Building, please visit www.esbnyc.comwww.facebook.com/empirestatebuilding@EmpireStateBldgwww.instagram.com/empirestatebldgwww.youtube.com/esbnyc or www.pinterest.com/empirestatebldg/.

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous office building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 8.4 million rentable square feet, as of September 30, 2013, consisting of 7.8 million rentable square feet in 12 office properties, including seven in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 645,000 rentable square feet in the retail portfolio. The Company also owns land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage and has an option to acquire two additional Manhattan office properties encompassing approximately 1.5 million rentable square feet of office space and over 150,000 rentable square feet of retail space at the base of the buildings.

About Antenna International

Antenna International™ is the world leader in handheld audio and multimedia guides, as well as mobile applications, in the global cultural arena. Each year more than 62 million visitors enjoy an Antenna experience helping them to make a lasting connection with over 450 of the world’s most famous, fascinating and frequented locations. With a proud heritage of innovation, Antenna has been responsible for every major development in mobile interpretation since the days of the cassette player, enabling people to see more clearly, understand more deeply and appreciate more widely on a variety of platforms and in multiple languages. Founded in 1984, Antenna International™ is a global company with offices in North America, Europe, Middle East and Asia.

For more information on Antenna International, please visitwww.AntennaInternational.comhttp://www.facebook.com/AntennaInternational, and http://twitter.com/AntennaIntl.

Forward-Looking Statements

This press release includes “forward looking statements”. Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates,” “contemplates,” “aims,” “continues,” “would” or “anticipates” or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in the Company’s prospectus relating to the initial public offering, including those set forth under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business and Properties.” While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company’s future results, performance or transactions, see the section entitled “Risk Factors” in the prospectus relating to the initial public offering, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).

Matthew Frappier, Edelman Public Relations
(212) 277-3786
Matthew.Frappier@edelman.com

Empire State Realty Trust Signs Two New Leases And Five Renewals at Greater NY Area Properties

Empire State Realty Trust, Inc. (NYSE:ESRT) (“ESRT”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, has recently concluded seven lease transactions at three of its suburban properties.

The transactions include:

  • A new lease with energy consulting firm NuEnergen, LLC, which relocated its 3,435-square-foot headquarters to Ten Bank Street in White Plains, N.Y. The tenant broker was Richard Goldstein of Goldstein & Associates.
  • Another new lease at Ten Bank Street, by Kumon North America. The lease term for the 1,445-square-foot space is five years. CBRE represented Kumon in the lease negotiations.
  • A renewal by investment management firm Rabar Market Research, Inc. for its 4,147-square-foot space at Ten Bank Street. Michael McCall of CBRE represented Rabar in the negotiations.
  • A renewal at 500 Mamaroneck Avenue in Harrison, N.Y., by Case Paper, for its 4,718-square-foot space. The firm, which is one of the largest privately owned paper merchants and converters in the U.S., signed a ten-year extension of its lease. Craig S. Ruoff of Rakow Commercial Realty Group, Inc. served as the tenant broker. This is the firm’s second renewal since it moved into the building.
  • Renewals, also at 500 Mamaroneck Avenue, by CoKinetic Systems, a globally recognized leader in in-flight entertainment software, for its 4,668-square-foot headquarters space; and by C.H.O. Enterprises, a financial services firm, for its 1,538-square-foot office.
  • A renewal by Bell Falla and Associates, LLC, a market research and consulting firm, at MerrittView (383 Main Avenue) in Norwalk, CT. This is the firm’s second renewal of its 2,325-square-foot space since it moved into the building in 2008. The firm’s broker was Barbara Segalini-Stilley of CBRE.

“We’re equally pleased by new leases and renewals,” says Jeffrey H. Newman, senior vice president of Empire State Realty Trust and its affiliates, who represented the landlord in the seven transactions, along with senior leasing associate Kimberly Zaccagnino and leasing associate Tara Long. “New leases tell us that our message regarding the advantages of locating at our trophy properties continues to resonate with brokers and their clients. Renewals tell us that we’re delivering on our promises.”

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE:ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous office building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 8.4 million rentable square feet, as of September 30, 2013, consisting of 7.8 million rentable square feet in 12 office properties, including seven in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 645,000 rentable square feet in the retail portfolio. The Company also owns land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage and has an option to acquire two additional Manhattan office properties encompassing approximately 1.5 million rentable square feet of office space and over 150,000 rentable square feet of retail space at the base of the buildings.

Forward-Looking Statements

This press release includes “forward looking statements”. Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates,” “contemplates,” “aims,” “continues,” “would” or “anticipates” or the negative of these words and phrases or similar words or phrases. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in the Company’s prospectus relating to the initial public offering, including those set forth under the headings “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business and Properties.” While forward-looking statements reflect the Company’s good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, or new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company’s future results, performance or transactions, see the section entitled “Risk Factors” in the prospectus relating to the initial public offering, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).
 

Empire State Realty Trust Announces Dates for Fourth Quarter Earnings Release and Conference Call

Empire State Realty Trust, Inc. (NYSE:ESRT) (the “Company”), today announced that the Company will release its fourth quarter financial results on Thursday, February 27, 2014 after close of markets on the New York Stock Exchange. A conference call will be held on Friday, February 28, 2014 at 10:00 a.m. Eastern time.

During the conference call, the Company’s officers will review fourth quarter and full year performance, discuss recent events and conduct a question-and-answer period.

Webcast

The conference call will also be available in the Investor Relations section of the Company’s website at www.empirestaterealtytrust.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software. A replay of the call will also be available for 90 days on the Company’s website.

To Participate in the Telephone Conference Call:

Dial in at least five minutes prior to start time.
Domestic: 1-877-705-6003
International: 1-201-493-6725

Conference Call Playback:

Domestic: 1-877-870-5176
International: 1-858-384-5517
Passcode: 13575372
The playback can be accessed through March 7, 2014

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world’s most famous office building. Headquartered in New York, New York, the Company’s office and retail portfolio covers 8.4 million rentable square feet, as of September 30, 2013, consisting of 7.8 million rentable square feet in 12 office properties, including seven in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 645,000 rentable square feet in the retail portfolio. The Company also owns land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage and has an option to acquire two additional Manhattan office properties encompassing approximately 1.5 million rentable square feet of office space and over 150,000 rentable square feet of retail space at the base of the buildings.

Empire State Realty Trust Investor Relations
212-850-2678
IR@empirestaterealtytrust.com