Empire St Rlty Tr Inc Stock Price, News & Analysis

Empire State Realty Trust (NYSE: ESRT) announced the launch of the Empire Building Playbook, a free online resource aimed at achieving net zero retrofits in commercial buildings. The initiative, co-developed with NYSERDA and supported by notable NYC landlords and the Clinton Global Initiative, outlines a step-by-step process for landlords and tenants to significantly reduce greenhouse gas emissions. The Playbook projects a 75-90% reduction in emissions with a 4-8 year payback period through energy-efficient upgrades. The guide will be continuously updated with new case studies and best practices.

Empire State Realty Trust (NYSE: ESRT) announced a community solar project at its office property, 500 Mamaroneck Avenue, Harrison, N.Y. This initiative will require zero capital investment from ESRT and is expected to generate substantial revenue over the next 25 years, with over 40% of credits used for powering the building. The project includes a parking canopy solar array, an 8.2-MWh battery storage system, and 80 EV charging stations. This sustainable move is anticipated to enhance tenant experience and support ESRT's goal of achieving net-zero carbon emissions by 2035.

Empire State Realty Trust (NYSE: ESRT) announced that Signature Bank has expanded its office space at 1400 Broadway, increasing its footprint by 32,927 square feet, bringing the total to 313,109 square feet. This marks the third expansion for Signature Bank at this location, following a January 2022 increase of 168,310 square feet. Signature Bank's decision reflects ESRT's reputation for energy efficiency and quality indoor environments. The building offers amenities including a tenants-only lounge and assembly space, advantageous for tenants seeking quality office environments.

Empire State Realty Trust (NYSE: ESRT) announced it will release its Q1 2022 financial results on April 27, 2022, post-market. A conference call will follow on April 28, 2022, at 12:00 p.m. ET, where management will review performance and engage in a Q&A. The earnings release, supplemental information, and presentations will be available on their website. The company, known for owning the Empire State Building, manages a portfolio including 9.4 million square feet of office and 700,000 square feet of retail space in the New York area.

Empire State Realty Trust (NYSE: ESRT) announced a new lease with Progyny, Inc., a fertility benefits company, for 70,573 square feet at 1359 Broadway. The lease covers three floors, with occupancy planned in late 2022 and early 2024. The property is positioned in a modernized building with outstanding energy efficiency and indoor environmental quality. This addition enhances ESRT's tenant roster, showcasing its appeal to high-quality tenants. The press release emphasizes the firm's commitment to maintaining a premier property portfolio in New York City.

The Empire State Building (ESB) has announced a unique Valentine's Day partnership with Tiffany & Co., offering romantic experiences for couples. The 'Happily Ever Empire' engagement package includes priority access to observatories, Champagne, and special gifts like a Tiffany mug set, priced at $1,000. For the first time, ESB will light up in Tiffany Blue on February 14 to celebrate love. Additionally, a floral pop-up by Hometown Flower Co. will be available for visitors from February 10 to 14. This initiative aims to enhance the building's romantic image, attracting more visitors this Valentine's season.

Empire State Realty Trust (NYSE: ESRT) has announced the signing of three new retail leases at its NYC properties: AT&T Mobility, Subway, and Le Café Coffee. This strategic move enhances ESRT's portfolio in high-traffic areas, suggesting strong tenant demand. AT&T's lease covers 3,077 square feet, while Subway occupies 600 square feet, and Le Café Coffee has a 731 square foot space. These additions not only improve ESRT's retail offerings but also affirm its commitment to quality tenants, vital for supporting its office clientele.