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Empire State Realty Trust, Inc. filings document the disclosures of a New York City-focused REIT and its operating partnership, Empire State Realty OP, L.P. Form 8-K reports cover operating and financial results, Regulation FD supplemental packages, material agreements, capital-structure matters, financing-related disclosures, share and operating partnership unit repurchase authorizations, and executive officer transitions.
Proxy filings describe annual meeting proposals, director elections, board composition, committee oversight, risk oversight, executive compensation, shareholder engagement and sustainability matters. The filing record also reflects ESRT's REIT structure, Class A common stock, Series ES, Series 250 and Series 60 operating partnership units, and governance disclosures tied to its office, retail, multifamily and Observatory operations.
Sutherland Donna Jean reported acquisition or exercise transactions in this Form 4 filing.
Empire State Realty Trust, Inc. reported that Chief Accounting Officer Donna Jean Sutherland received a grant of 11,584 shares of Class A Common Stock on March 13, 2026. The award was granted at a price of $0.00 per share as equity compensation rather than a market purchase.
Following this grant, Sutherland directly holds 17,836 shares of Class A Common Stock. According to the terms, the granted shares will vest in four equal installments on the first four anniversaries of January 1, 2026, and vesting is contingent on her continued service with the company.
Empire State Realty Trust, Inc. executive Donna Jean Sutherland, the company’s Chief Accounting Officer, filed an initial ownership report after becoming subject to Section 16 on March 16, 2026. The filing lists restricted stock awards previously granted on March 13, 2025 and March 13, 2026.
These restricted shares remain subject to vesting conditions. They vest in equal installments over four years from January 1, 2025 and January 1, 2026, respectively, and require Ms. Sutherland’s continued service with the company.
Empire State Realty Trust, Inc. executive Thomas P. Durels, EVP, Real Estate, reported receiving a grant of 321,670 LTIP Units of Empire State Realty OP, L.P. Each LTIP Unit is tied to Empire State Realty Trust Class A common stock through a partnership structure.
The LTIP Units were granted under the company’s 2024 Equity Incentive Plan and will vest under his Transition Agreement dated September 19, 2025, followed by a two-year holding period after each vesting date. After vesting and sufficient capital account allocations, the LTIP Units can be converted into Operating Partnership Units and then redeemed for either one share of Class A common stock or cash per unit at the company’s option. Following this award, Durels directly holds 1,900,494 LTIP Units.
Horn Stephen reported acquisition or exercise transactions in this Form 4 filing.
Empire State Realty Trust EVP and CFO Stephen Horn received a grant of 69,988 LTIP Units on March 13, 2026. These long-term incentive plan units are a class of units in Empire State Realty OP, L.P. and are convertible, upon vesting and tax conditions, into Operating Partnership Units and then redeemable for Class A common stock or cash on a one-for-one basis at the company’s option. After this award, Horn directly holds 224,690 LTIP Units. The LTIP Units vest in four equal annual installments on each of the first four anniversaries of January 1, 2026, subject to continued employment, and each vested unit is subject to an additional two-year holding period.
Empire State Realty Trust, Inc. reported that President Christina Chiu received a grant of 261,808 LTIP Units on March 13, 2026 as a long-term equity incentive award. These LTIP Units are issued at no cash cost and can convert, after vesting and tax capital allocations, into Operating Partnership Units that are redeemable for an equal number of Class A common shares or cash at the company’s option. The LTIP Units vest in four equal installments on each of the first four anniversaries of January 1, 2026, with an additional two-year holding period after each vesting date. Following this grant, Chiu directly holds a total of 1,759,022 LTIP Units.
MALKIN ANTHONY E reported acquisition or exercise transactions in this Form 4 filing.
Empire State Realty Trust, Inc. Chairman and CEO Anthony E. Malkin received two equity awards of LTIP Units on March 13, 2026. One grant covers 601,384 LTIP Units and another covers 599,133 LTIP Units, each at no cash cost, as long-term incentive compensation.
The LTIP Units, issued under the 2024 Equity Incentive Plan, are convertible after vesting into Operating Partnership Units and then redeemable for Class A common stock on a one-for-one basis or cash at the company’s option, with no stated expiration. One grant vests ratably over four years starting January 1, 2026, and the other over three years starting the same date, both subject to continued employment and additional two-year post-vesting holding periods.
Empire State Realty Trust, Inc. announced a leadership change in its accounting function. The Board appointed Jean Sutherland as Chief Accounting Officer and principal accounting officer of the company and its operating partnership, effective March 16, 2026. Current Chief Financial Officer Stephen V. Horn will remain CFO and principal financial officer while transferring his Chief Accounting Officer duties to Ms. Sutherland, who will report to him.
Sutherland, age 38, has been Vice President of Financial Reporting and Accounting Policy at the company since June 17, 2024, and previously held senior financial reporting and technical accounting roles at WeWork and Ernst & Young. The company expects to enter into a standard officer indemnification agreement with her, and it reports that there are no special appointment arrangements, family relationships, or related-party transactions requiring disclosure.
Empire State Realty Trust, Inc. outlines its NYC-focused REIT business, centered on office, retail, multifamily assets and the Empire State Building Observatory and broadcasting operations. As of December 31, 2025, the portfolio comprised about 7.9 million square feet of office, 0.8 million of retail, and 743 residential units.
The company highlights 2025 leasing of 1,009,009 square feet and Manhattan office occupancy of 89.9%, plus Observatory attendance of roughly 2.3 million visitors, generating $128.3 million of revenue. ESRT also discloses about $2.4 billion of total debt, key environmental, cybersecurity and regulatory risks, and its intention to maintain REIT status and leadership in sustainability.
Empire State Realty Trust reported steady but mixed results for the fourth quarter and full year 2025 while reshaping its portfolio and balance sheet. Net income was $0.12 per fully diluted share in the fourth quarter and $0.25 for 2025. Core FFO per fully diluted share was $0.23 in the quarter and $0.87 for the year, down from $0.24 and $0.95 in 2024.
Same-store property cash NOI excluding lease termination fees rose 0.9% in the fourth quarter but declined 2.0% for the year; adjusted for non‑recurring 2024 items, it increased 3.4% for the quarter and 0.6% for the year. Office occupancy was 89.9%, and total commercial occupancy 90.3% at December 31, 2025. The Empire State Building Observatory generated NOI of $24.4 million in the fourth quarter and $90.1 million for the year.
The company completed $417 million of all‑cash acquisitions in 2025, including the $386.0 million purchase of 130 Mercer Street in SoHo, and exited its last suburban office property, making the commercial portfolio 100% New York City. ESRT issued $175 million of senior unsecured notes, upsized a term loan by $245 million to 2031, and ended the year with about $0.6 billion of liquidity and net debt to adjusted EBITDA of 6.3x. It repurchased $8.1 million of common stock in 2025, paid a quarterly dividend of $0.035 per share, and guided 2026 Core FFO per fully diluted share to $0.85–$0.89 with year‑end commercial occupancy of 90%–92%.
Empire State Realty Trust reported steady but mixed results for the fourth quarter and full year 2025 while reshaping its portfolio and balance sheet. Net income was $0.12 per fully diluted share in the fourth quarter and $0.25 for 2025. Core FFO per fully diluted share was $0.23 in the quarter and $0.87 for the year, down from $0.24 and $0.95 in 2024.
Same-store property cash NOI excluding lease termination fees rose 0.9% in the fourth quarter but declined 2.0% for the year; adjusted for non‑recurring 2024 items, it increased 3.4% for the quarter and 0.6% for the year. Office occupancy was 89.9%, and total commercial occupancy 90.3% at December 31, 2025. The Empire State Building Observatory generated NOI of $24.4 million in the fourth quarter and $90.1 million for the year.
The company completed $417 million of all‑cash acquisitions in 2025, including the $386.0 million purchase of 130 Mercer Street in SoHo, and exited its last suburban office property, making the commercial portfolio 100% New York City. ESRT issued $175 million of senior unsecured notes, upsized a term loan by $245 million to 2031, and ended the year with about $0.6 billion of liquidity and net debt to adjusted EBITDA of 6.3x. It repurchased $8.1 million of common stock in 2025, paid a quarterly dividend of $0.035 per share, and guided 2026 Core FFO per fully diluted share to $0.85–$0.89 with year‑end commercial occupancy of 90%–92%.
Cohen & Steers and affiliates have disclosed a significant passive stake in Empire State Realty Trust, Inc. common stock. As of December 31, 2025, they report beneficial ownership of 11,128,303 shares, representing 6.58% of the outstanding common stock.
Cohen & Steers Capital Management, Inc. has sole voting power over 8,668,915 shares and sole dispositive power over the full 11,128,303 shares, with no shared voting or dispositive power. The securities are held for the benefit of client accounts, which are entitled to dividends and sale proceeds.
The group certifies that the position was acquired and is held in the ordinary course of business as investment advisers and is not intended to change or influence control of Empire State Realty Trust.