Empire State Realty Trust Acquires Brooklyn Retail Asset for $46 Million
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 06 2026
0mins
Should l Buy ESRT?
The company states: "Empire State Realty Trust acquired a newly constructed, prime retail asset located at 41-55 North 6th Street in Williamsburg, Brooklyn for $46 million at the end of the first quarter. The approximately 22,000 square foot property, currently vacant, is located between Kent and Wythe Avenues and in close proximity to the Company's existing 102,000 square foot portfolio of prime retail assets along North 6th Street. This acquisition, together with the Company's purchase of 86-90 North 6th Street in mid-2025, completed the redeployment of investment capacity from the December 2025 disposition of Metro Center without a recognition of a taxable gain. These transactions were the final execution of ESRT's strategy to recycle capital from non-core suburban assets into high-quality NYC assets with stronger long-term cash flow growth prospects. The Company also closed on a $53.5 million mortgage on 10 Union Square East, a 58,000 square foot prime retail asset anchored by a long-term lease with Target. The 10-year interest-only loan carries a fixed interest rate of 5.3% and replaces a $50.0 million loan that matured on April 1, 2026."
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Analyst Views on ESRT
Wall Street analysts forecast ESRT stock price to rise
5 Analyst Rating
2 Buy
2 Hold
1 Sell
Hold
Current: 5.500
Low
8.30
Averages
9.46
High
11.00
Current: 5.500
Low
8.30
Averages
9.46
High
11.00
About ESRT
Empire State Realty Trust, Inc. is a real estate investment trust (REIT), which owns and operates a portfolio of office, retail and multifamily assets. The Company’s portfolio consists of approximately 7.8 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 732 residential units. Its office portfolio included 10 properties. Nine of these office properties are located in midtown Manhattan and encompass over 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 Company’s segments include Real Estate and an Observatory. The Real Estate segment includes all activities related to the ownership, management, operation, acquisition, repositioning and disposition of its office, retail and multifamily assets principally located in New York City. The Observatory segment operates the 86th and 102nd floor observatories in the Empire State Building.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Empire State Building Celebrates 95th Anniversary with Exclusive Sundae
- Exclusive Dessert Launch: To celebrate the Empire State Building's 95th anniversary, Ghirardelli has created the Kong Sundae, priced at $18, featuring vanilla ice cream, hot fudge, whipped cream, and a chocolate Kong, showcasing Ghirardelli's commitment to quality and rich flavors, enticing visitors to enjoy a unique culinary experience.
- Limited-Time Event: The Kong Sundae will be exclusively available at the 86th Floor Observation Deck from April 10 to May 10, operating daily from 10 a.m. to 9 p.m., which is expected to attract a significant number of visitors, enhancing the deck's appeal and foot traffic.
- Observation Deck Experience Upgrade: The Empire State Building's observatory has undergone a $165 million redesign, offering 360-degree panoramic views, an interactive museum, and a newly designed 102nd Floor Observatory, further enhancing the overall visitor experience and solidifying its status as a top attraction in New York City.
- Brand Partnership Significance: This collaboration with Ghirardelli not only celebrates the building's history but also enhances brand image by providing a unique culinary experience, which is expected to drive future visitor growth and business opportunities.
See More
Empire State Building Launches Vibrant Spring Events
- Spring Events Unveiled: The Empire State Building has launched a series of spring events, including a new butterfly installation and treat pop-ups, aimed at attracting visitors and enhancing the sightseeing experience, which is expected to significantly boost visitor traffic and revenue.
- Special Event Schedule: During Easter, visitors can meet the Easter Bunny for photos from April 1 to 5, daily from 1 PM to 3 PM, designed to attract family visitors and enhance the festive atmosphere.
- Unique Birthday Celebrations: The Empire State Building has introduced a birthday celebration package offering VIP Observation Deck access and a private party room, starting at $90 per person, aimed at attracting family clients and increasing venue rental income.
- Observation Experience Upgrade: The Empire State Building's observation experience underwent a $165 million redesign, adding an interactive museum and a redesigned 102nd-floor observatory, enhancing visitor experience and further solidifying its status as a top tourist attraction in New York City.
See More
Empire State Realty Trust Announces Q1 2026 Earnings Release Date
- Earnings Release Schedule: Empire State Realty Trust will release its Q1 2026 financial results on April 29, 2026, after market close, showcasing its operational performance on the NYSE.
- Conference Call Details: A conference call is scheduled for April 30, 2026, at 12:00 p.m. Eastern Time, where company officers will review Q1 performance and conduct a Q&A session, enhancing investor engagement.
- Investor Materials Access: The earnings release, supplemental materials, and investor presentation will be available on the company's website prior to the conference call, ensuring investors receive timely information for informed decision-making.
- Company Overview: Empire State Realty Trust focuses on NYC real estate, owning approximately 7.9 million square feet of office space and 743 residential units, committed to enhancing energy efficiency and indoor environmental quality, further solidifying its market leadership.
See More
Celebrating 100 Days to FIFA World Cup 2026
- Lighting Ceremony: The FIFA World Cup 2026 mascots and representatives from the U.S., Canada, and Mexico illuminated the Empire State Building to celebrate 100 days until the tournament, symbolizing unity among the three host nations.
- Historic Tournament Expansion: The 2026 World Cup will be the first hosted by three countries, expanding to 48 teams competing across 16 North American cities, marking a significant increase in the tournament's scale and reach.
- New York-New Jersey Hosting Role: The New York-New Jersey region will host multiple matches, including the final, expected to draw global fans and boost local economy and tourism, solidifying the region's position on the international sports stage.
- Cultural Icon of Empire State Building: As a globally recognized landmark, the Empire State Building not only serves as a tourist attraction but also enhances its cultural significance in New York City through its revamped observatory experience, welcoming millions of visitors annually.
See More
Celebrating 100 Days to FIFA World Cup 2026
- Lighting Ceremony Highlights: The mascots for the 2026 FIFA World Cup and representatives from the U.S., Canada, and Mexico participated in a lighting ceremony at the Empire State Building to celebrate 100 days until the tournament, symbolizing unity among the three host nations.
- Historic Event: The 2026 FIFA World Cup will be the first to be co-hosted by the U.S., Canada, and Mexico, expanding to 48 teams competing across 16 cities, marking a significant increase in the tournament's scale and reach.
- Enhanced Visitor Experience: The Empire State Building's observatory has undergone a $165 million redesign, featuring an interactive museum and a new observation deck, attracting millions of visitors and being ranked as New York City's top attraction for four consecutive years, thereby enhancing its commercial value.
- Economic Boost for Region: New Jersey will host eight World Cup matches, including the final, which is expected to draw fans from around the world, stimulating local economic growth and increasing regional visibility.
See More
Empire State Realty Trust Renewed WELL Health-Safety Rating for Fifth Time
- Health Safety Certification: Empire State Realty Trust (ESRT) has been awarded the WELL Health-Safety Leadership Award for the fifth consecutive year by the International WELL Building Institute, demonstrating its ongoing commitment to occupant health and well-being while reinforcing its industry-leading position in sustainability and indoor environmental quality.
- Comprehensive Certification Coverage: Since 2020, ESRT has achieved a 100% WELL Health-Safety Rating across its entire portfolio, showcasing its exceptional performance in health and safety standards, which enhances trust among tenants and employees.
- Sustainability Goals: In 2025, ESRT is focusing on science-based and ROI-driven sustainability goals, achieving Five Stars and an A rating, while also securing the highest GRESB management score among Americas' companies, further enhancing its competitive edge in the market.
- Transparency and Accountability: ESRT transparently shares its health and well-being targets and progress through its annual Sustainability Report, reflecting its leadership in promoting healthy buildings and setting a powerful example of a people-first organization.
See More
Empire State Building Celebrates 95th Anniversary with Exclusive Sundae
- Exclusive Dessert Launch: To celebrate the Empire State Building's 95th anniversary, Ghirardelli has created the Kong Sundae, priced at $18, featuring vanilla ice cream, hot fudge, whipped cream, and a chocolate Kong, showcasing Ghirardelli's commitment to quality and rich flavors, enticing visitors to enjoy a unique culinary experience.
- Limited-Time Event: The Kong Sundae will be exclusively available at the 86th Floor Observation Deck from April 10 to May 10, operating daily from 10 a.m. to 9 p.m., which is expected to attract a significant number of visitors, enhancing the deck's appeal and foot traffic.
- Observation Deck Experience Upgrade: The Empire State Building's observatory has undergone a $165 million redesign, offering 360-degree panoramic views, an interactive museum, and a newly designed 102nd Floor Observatory, further enhancing the overall visitor experience and solidifying its status as a top attraction in New York City.
- Brand Partnership Significance: This collaboration with Ghirardelli not only celebrates the building's history but also enhances brand image by providing a unique culinary experience, which is expected to drive future visitor growth and business opportunities.
See More
Empire State Building Launches Vibrant Spring Events
- Spring Events Unveiled: The Empire State Building has launched a series of spring events, including a new butterfly installation and treat pop-ups, aimed at attracting visitors and enhancing the sightseeing experience, which is expected to significantly boost visitor traffic and revenue.
- Special Event Schedule: During Easter, visitors can meet the Easter Bunny for photos from April 1 to 5, daily from 1 PM to 3 PM, designed to attract family visitors and enhance the festive atmosphere.
- Unique Birthday Celebrations: The Empire State Building has introduced a birthday celebration package offering VIP Observation Deck access and a private party room, starting at $90 per person, aimed at attracting family clients and increasing venue rental income.
- Observation Experience Upgrade: The Empire State Building's observation experience underwent a $165 million redesign, adding an interactive museum and a redesigned 102nd-floor observatory, enhancing visitor experience and further solidifying its status as a top tourist attraction in New York City.
See More
Empire State Realty Trust Announces Q1 2026 Earnings Release Date
- Earnings Release Schedule: Empire State Realty Trust will release its Q1 2026 financial results on April 29, 2026, after market close, showcasing its operational performance on the NYSE.
- Conference Call Details: A conference call is scheduled for April 30, 2026, at 12:00 p.m. Eastern Time, where company officers will review Q1 performance and conduct a Q&A session, enhancing investor engagement.
- Investor Materials Access: The earnings release, supplemental materials, and investor presentation will be available on the company's website prior to the conference call, ensuring investors receive timely information for informed decision-making.
- Company Overview: Empire State Realty Trust focuses on NYC real estate, owning approximately 7.9 million square feet of office space and 743 residential units, committed to enhancing energy efficiency and indoor environmental quality, further solidifying its market leadership.
See More
Celebrating 100 Days to FIFA World Cup 2026
- Lighting Ceremony: The FIFA World Cup 2026 mascots and representatives from the U.S., Canada, and Mexico illuminated the Empire State Building to celebrate 100 days until the tournament, symbolizing unity among the three host nations.
- Historic Tournament Expansion: The 2026 World Cup will be the first hosted by three countries, expanding to 48 teams competing across 16 North American cities, marking a significant increase in the tournament's scale and reach.
- New York-New Jersey Hosting Role: The New York-New Jersey region will host multiple matches, including the final, expected to draw global fans and boost local economy and tourism, solidifying the region's position on the international sports stage.
- Cultural Icon of Empire State Building: As a globally recognized landmark, the Empire State Building not only serves as a tourist attraction but also enhances its cultural significance in New York City through its revamped observatory experience, welcoming millions of visitors annually.
See More
Celebrating 100 Days to FIFA World Cup 2026
- Lighting Ceremony Highlights: The mascots for the 2026 FIFA World Cup and representatives from the U.S., Canada, and Mexico participated in a lighting ceremony at the Empire State Building to celebrate 100 days until the tournament, symbolizing unity among the three host nations.
- Historic Event: The 2026 FIFA World Cup will be the first to be co-hosted by the U.S., Canada, and Mexico, expanding to 48 teams competing across 16 cities, marking a significant increase in the tournament's scale and reach.
- Enhanced Visitor Experience: The Empire State Building's observatory has undergone a $165 million redesign, featuring an interactive museum and a new observation deck, attracting millions of visitors and being ranked as New York City's top attraction for four consecutive years, thereby enhancing its commercial value.
- Economic Boost for Region: New Jersey will host eight World Cup matches, including the final, which is expected to draw fans from around the world, stimulating local economic growth and increasing regional visibility.
See More
Empire State Realty Trust Renewed WELL Health-Safety Rating for Fifth Time
- Health Safety Certification: Empire State Realty Trust (ESRT) has been awarded the WELL Health-Safety Leadership Award for the fifth consecutive year by the International WELL Building Institute, demonstrating its ongoing commitment to occupant health and well-being while reinforcing its industry-leading position in sustainability and indoor environmental quality.
- Comprehensive Certification Coverage: Since 2020, ESRT has achieved a 100% WELL Health-Safety Rating across its entire portfolio, showcasing its exceptional performance in health and safety standards, which enhances trust among tenants and employees.
- Sustainability Goals: In 2025, ESRT is focusing on science-based and ROI-driven sustainability goals, achieving Five Stars and an A rating, while also securing the highest GRESB management score among Americas' companies, further enhancing its competitive edge in the market.
- Transparency and Accountability: ESRT transparently shares its health and well-being targets and progress through its annual Sustainability Report, reflecting its leadership in promoting healthy buildings and setting a powerful example of a people-first organization.
See More
