Maryland |
001-36105 |
37-1645259 | ||
(State or other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
Delaware |
001-36106 |
45-4685158 | ||
(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) |
☐ | 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)) |
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 | ||
Empire State Realty OP, L.P. |
||||
Series ES Operating Partnership Units | ESBA | NYSE Arca, Inc. | ||
Series 60 Operating Partnership Units | OGCP | NYSE Arca, Inc. | ||
Series 250 Operating Partnership Units | FISK | NYSE Arca, Inc. |
Item 7.01 |
Regulation FD Disclosure. |
Item 9.01. |
Financial Statements and Exhibits. |
Exhibit No. |
Description | |
99.1 | Press Release dated May 23, 2023. | |
104 | Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document). |
EMPIRE STATE REALTY TRUST, INC. (Registrant) | ||||||
Date: May 23 , 2023 |
By: | /s/ Christina Chiu | ||||
Name: | Christina Chiu | |||||
Title: | EVP, Chief Operating Officer & Chief Financial Officer |
EMPIRE STATE REALTY OP, L.P. (Registrant) | ||||||
By: | Empire State Realty Trust, Inc., as general partner | |||||
Date: May 23 , 2023 |
By: | /s/ Christina Chiu | ||||
Name: | Christina Chiu | |||||
Title: | EVP, Chief Operating Officer & Chief Financial Officer |
Exhibit 99.1
EMPIRE STATE REALTY TRUST ANNOUNCES FLAGSTAR
ASSUMPTION OF LEASE AT 1400 BROADWAY
New York, New York, May 23, 2023 — Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that Flagstar Bank, N.A. (“Flagstar”) has assumed the entire 313,109 square foot lease at 1400 Broadway, formerly leased by Signature Bank, under the same terms through 2039 with the exception of an approximate $3 per square foot rent reduction for the first five years of the lease amendment, which equates to an approximate 1.5% rent reduction over the duration of the lease. In the second quarter of 2023, ESRT will reverse $5.8M of the $6.4M straight-line reserve taken in the first quarter of 2023. These adjustments will have a combined estimated $0.02 per share impact on 2023 annual Funds from Operations (“FFO”). This and any other updates to FFO guidance will be provided when the Company reports its second quarter 2023 earnings.
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, and #3 in the world, in Tripadvisor’s 2022 Travelers’ Choice Awards: Best of the Best. The company is a leader in healthy buildings, energy-efficiency, and indoor environmental quality. As of March 31, 2023, ESRT’s portfolio is comprised of approximately 8.9 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, Twitter and LinkedIn.
Forward-Looking Statements
This press release includes “forward looking statements” within the meaning of the federal securities laws. You can identify these statements by use of words such as “assumes,” “believes,” “estimates,” “expects,” “intends,” “plans,” “projects” or similar words or expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance or achievements. These factors include, without limitation, the risks and uncertainties detailed from time to time in the Company’s filings with the SEC and any failure of the conditions or events cited in this release. Except as may be required by law, the Company does not undertake a duty to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact:
Investors
Empire State Realty Trust Investor Relations
(212) 850-2678
IR@esrtreit.com
Category: FINANCIAL
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