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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 2, 2023
EMPIRE STATE REALTY TRUST, INC.
(Exact Name of Registrant as Specified in its Charter)
| Maryland | 001-36105 | 37-1645259 |
| (State or other Jurisdiction of Incorporation) |
(Commission File Number)
|
(I.R.S. Employer Identification No.) |
|
111 West 33rd Street 12th Floor New York, New York |
10120 |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (212) 687-8700
Not Applicable
(Former name or former address, if changed from last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) |
Name of each exchange on which registered |
||
| Empire State Realty Trust, Inc. | ||||
| Class A Common Stock, par value $0.01 per share | ESRT | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01. | Regulation FD Disclosure |
On October 2, 2023, Empire State Realty Trust, Inc. (the “Company”) issued a press release that announced the acquisition of two adjacent properties located at 157-159 Wythe Avenue and 77 North 6th Street in Brooklyn, NY.
A copy of the press release is attached hereto as Exhibit 99.1.
The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. Such information shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, unless it is specifically incorporated by reference therein.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Press Release date October 2, 2023. | |
| 104 | Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
EMPIRE STATE REALTY TRUST, INC. (Registrant) |
||
| Date: October 2, 2023 | By: | /s/ Christina Chiu |
| Name: | Christina Chiu | |
| Title: | Executive Vice President, Chief Operating Officer and Chief Financial Officer | |
Exhibit 99.1
EMPIRE STATE REALTY TRUST ANNOUNCES ACQUISITION OF PRIME RETAIL ASSET IN WILLIAMSBURG, BROOKLYN,
AS PART OF CAPITAL RECYCLING PROGRAM
New York, New York, October 2, 2023 -- Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), announced that it recently closed on the acquisition of two adjacent properties located at the northeast corner of North 6th Street and Wythe Avenue in the Williamsburg neighborhood of Brooklyn, New York, for an aggregate purchase price of $26.4 million. The properties, which were 100% leased as of September 30, 2023, have an aggregate square footage of 11,000 square feet, comprised of 5,600 square feet of retail space with a weighted average lease term of 7.7 years, and six free-market residential units.
The transaction was funded by proceeds from a recent non-core asset disposition in a 1031, tax deferred exchange, and cash from the Company’s balance sheet. ESRT has now successfully recycled 100% of the proceeds from its divestiture of several suburban office buildings and the Westport Main Street retail assets through 1031, tax deferred exchanges.
“Consistent with our previously stated plan to add well-located NYC assets and recycle out of select non-core assets through 1031 exchanges, we are excited to add these two properties in a highly desirable section of Brooklyn,” stated Anthony E. Malkin, Empire State Realty Trust’s Chairman, President, and Chief Executive Officer. “This transaction further expands our retail and multifamily portfolios with properties that are well-located in the heart of Williamsburg. Williamsburg is now among the most popular retail markets in New York City, and North 6th street specifically has seen very significant retail absorption over the last decade.”
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT) is a REIT that owns and manages office, retail and multifamily assets in Manhattan and the greater New York metropolitan area. ESRT owns the iconic Empire State Building – “the World’s Most Famous Building” – and the newly reimagined Empire State Building Observatory that was named #1 attraction in the US for the second year in a row, in Tripadvisor’s 2023 Travelers’ Choice Awards: Best of the Best. The Company is a leader in healthy buildings, energy efficiency, and indoor environmental quality. As of June 30, 2023, ESRT's portfolio is comprised of approximately 8.6 million rentable square feet of office space, 718,000 rentable square feet of retail space and 721 residential units across three multifamily properties. More information about Empire State Realty Trust can be found at esrtreit.com and by following ESRT on Facebook, Instagram, TikTok, Twitter and LinkedIn.
Contact:
Investors
Empire State Realty Trust Investor Relations
(212) 850-2678
IR@esrtreit.com
Source: Empire State Realty Trust, Inc.
Category: FINANCIAL
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