ADDED
Management's Discussion and Analysis of Financial Condition and Results of Operations 32 7A.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 42 9A.
(NYSE: ESRT), is a NYC-focused real estate investment trust ("REIT") that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets.
ESRT s flagship Empire State Building, the World's Most Famous Building, features its iconic Observatory, ranked the #1 Top Attraction in New York City for the fourth consecutive year in Tripadvisor s 2025 Travelers Choice Awards: Best of the Best Things to Do.
As of December 31, 2025, our portfolio was comprised of approximately 7.9 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 743 residential units, which are located in New York City.
Our office portfolio included 10 properties (including three long-term ground leasehold interests), all of which are located in Manhattan.
Additionally, we have entitled land in Stamford, Connecticut that can support the development of either office or residential per local zoning.
As of December 31, 2025, ESRT owned approximately 61.4% of our operating partnership units.
The quality of our commercial portfolio contributed to a strong leasing year in 2025; we leased 1,009,009 square feet of space, including "Early Renewals" which are leases signed over two years prior to the lease expiration, and made meaningful absorption progress with a 90 basis point increase to 89.9% in Manhattan office occupancy, excluding properties under redevelopment, storage and broadcasting.
Since the initial public offering, we have completed 317 expansions with existing tenants which total 3.2 million square feet within our portfolio.
REMOVED
Management's Discussion and Analysis of Financial Condition and Results of Operations 34 7A.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 44 9A.
(NYSE: ESRT), a NYC-focused real estate investment trust ("REIT") that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets, conducts all of its business and owns (either directly or through subsidiaries) substantially all of its assets.
ESRT s flagship Empire State Building, the World's Most Famous Building, features its iconic Observatory that was declared the #1 Attraction in the World - and the #1 Attraction in the U.S.
for the third consecutive year in Tripadvisor s 2024 Travelers Choice Awards: Best of the Best Things to Do.
As of December 31, 2024, our portfolio was comprised of approximately 7.8 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 732 residential units.
Our office portfolio included 10 properties (including three long-term ground leasehold interests).
Nine of these office properties are located in midtown Manhattan and encompass approximately 7.6 million rentable square feet of office space and 0.5 million rentable square feet of retail space, including the Empire State Building.
The remaining office property is located in Stamford, Connecticut, with immediate access to mass transportation.
Additionally, we have entitled land adjacent to the Stamford office property that can support the development of either office or residential per local zoning.