Empire State Realty OP, L.P.

Empire State Realty OP, L.P.

OGCP
Empire State Realty OP, L.P.US flagNew York Stock Exchange Arca
5.75
USD
+0.04
- -
1.54BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.28
2.5
2.47
2.45
4.49
4.38
4.1
3.48
3.62
2.71
4.59
4.66
4.56
4.02
Basic EPS, GAAP
0.82
0.27
0.29
0.38
0.74
0.7
0.46
-0.15
-0.1
0.22
0.5
0.46
0.41
0.29
Free Cash Flow per Basic Share
-3.07
0.54
0.23
0.12
-0.18
0.22
-0.1
0.22
1.23
0.79
1.44
1.58
1.48
1.21
Dividend per Share
0.72
0.34
0.34
0.41
0.8
0.75
0.71
0.35
0.17
0.14
0.23
0.23
0.23
0.2
Book Value per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Tangible Book Value per Share
0.82
1.96
1.87
4.03
7.07
6.83
6.19
5.11
4.96
3.21
5.7
5.93
6.08
5.31
Basic Weighted Avg Shares
243
255
266
277
158
167
178
175
172
268
161
165
169
194
Sales/Revenue/Turnover
312
635
658
677
710
732
731
609
624
727
740
768
768
779
Operating Margin (%)
19.82
22.78
23.05
27.16
27.19
26.09
21.15
10.65
13.92
17.47
19.84
20.67
17.66
17.9
Depreciation Expense
64
136
160
154
163
170
182
195
204
220
195
190
199
201
Net Income, GAAP
200
70
79
107
117
117
84
-23
-13
63
84
80
73
60
Effective Tax Rate (%)
- -
6.22
4.71
5.42
5.34
3.81
2.8
- -
- -
2.39
3.12
3.24
3.39
3.39
Profit Margin (%)
64.1
11.05
12.07
15.72
16.56
16.03
11.53
-3.76
-2.09
8.73
11.4
10.46
9.5
7.73
Working Capital
28
-7
-324
200
137
253
-129
77
282
114
178
328
-185
-175
LT Debt
1,338
1,738
1,439
1,432
1,491
1,707
1,473
1,810
1,976
1,904
1,893
2,115
1,958
1,958
Total Equity
1,003
1,381
1,373
1,983
1,978
1,991
1,948
1,731
1,684
1,683
1,731
1,782
1,822
1,824
Return on Invested Capital (%)
- -
4.97
4.64
5.13
4.93
4.77
3.93
- -
- -
3.09
3.56
3.7
3.07
3.32
Return on Capital (%)
- -
8.62
8.18
10.1
10.57
10.4
8.7
- -
- -
6.94
7.93
7.77
7.01
7.17
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
269
482
427
LT Borrowings
1,789
1,890
1,892
LT Finance Leases
44
68
66
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
276
275
280
Market Capitalization
1,448
1,226
1,015

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
484
444
391
Cash, Cash Equivalents & STI
154
133
69
Accounts Receivable, Net
286
277
285
Inventories
- -
- -
- -
Total Current Liabilities
411
629
566
Payables & Accruals
112
120
112
ST Debt
269
482
427
Deferred Revenue
31
27
27

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.69%
1.05%
2.26%
Free Cash Flow
-47.07%
91.91%
-4.54%
Net Income, GAAP
-72.25%
-122.3%
-9.18%
Sales/Revenue/Turnover
1.87%
4.91%
0.05%
Total Cash Common Dividend
-3.34%
-2.91%
2.04%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
181
190
200
198
768
2025
180
191
198
199
768
2026
190
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
0.17
0.08
0.11
0.46
2025
0.06
0.06
0.07
0.18
0.41
2026
0.01
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.06
0.04
0.04
0.23
2025
0.04
0.06
0.06
0.06
0.23
2026
0.04
- -
- -
- -
- -

Company Description

MCPAPIChat
CEO
Anthony E. Malkin
Full Time Employees
667
Sector
Real Estate
Industry
REIT - Office
Address
111 West 33rd Street New York City NY United States of America 10120
IPO Date
Oct 8, 2013
Business
Empire State Realty OP, L.P. owns, manages, operates, acquires, and repositions office and retail properties primarily located in Manhattan and the greater New York metropolitan area. The company’s main portfolio includes premier office and retail real estate assets, notably including the iconic Empire State Building. Its core products and services cover property ownership, leasing, asset management, and repositioning of premium commercial real estate assets. The firm focuses on Class A office spaces, high-quality retail spaces, and operates related real estate revenue-generating facilities. Founded in 2011 and headquartered in New York, New York, Empire State Realty OP, L.P. operates as a partnership affiliated with Empire State Realty Trust, Inc., which manages a large portfolio of commercial properties including office, retail, and multifamily assets mainly in New York City. The company's strategic activities emphasize energy efficiency, tenant experience, and premium amenities, exemplified by dedicated tenant club levels offering extensive work-life amenities in flagship properties. Recent major changes include Empire State Realty OP, L.P. and its general partner entering into amendments to their agreements in late 2025. The company has also actively pursued leasing expansions with notable tenants such as the Gerson Lehrman Group and major retail brands including Rolex, HOKA, and Tecovas at properties in Manhattan and Williamsburg, Brooklyn. Additionally, Empire State Realty Trust announced acquisitions of significant properties such as the Scholastic Building and raised capital through a $175 million issuance of senior unsecured notes in late 2025. The company maintains an emphasis on achieving top sustainability ratings, consistently earning the GRESB 5 Star Rating for leadership in environmental, social, and governance criteria. Empire State Realty OP, L.P. operates within the real estate investment and property management industry, targeting institutional and corporate tenants within the New York metropolitan commercial real estate market. It extends services through property leasing, asset repositioning, and enhancement initiatives to maximize investment returns for stakeholders. This comprehensive profile reflects the company’s established role as a leading real estate operator in New York City with a focus on premium office and retail assets, strategic leasing activity, capital market engagement, and ongoing portfolio enhancement initiatives as of late 2025.

Company News

MCPAPIChat
  • New York's Cuomo warns against 'blindly' reopening states

  • New York's Andrew Cuomo warns against 'blindly' reopening states

  • New York's Cuomo warns against 'blindly' reopening states

  • New York reports 299 new coronavirus deaths, ending six-day downward trend

  • Rick Scott hits back at Andrew Cuomo over bailouts: 'People keep leaving his state'

  • Congress ready to hit the skids again

  • <![CDATA[De Blasio roasted after shutting down rabbi’s funeral — Antibody tests offered for first responders — State paid $69M for ventilators that never came ]]>

  • <![CDATA[Back to the wealth tax]]>

  • Trump says US 'very close' to 5m daily coronavirus tests target despite country only doing 200,000 a day

  • Nearly Half of New York Breweries Say Their Businesses Could Close in 3 Months, According to Guild Survey

  • New York needs federal loan to pay state unemployment benefits

  • Greg Gutfeld slams dispute over state bailouts, says lawmakers 'falling back into the same mistakes'

  • Coronavirus-inspired SALT cap relief may incentivize more people to pay their taxes

  • <![CDATA[City and state pursue contact tracing strategies — Lockdown protests come to Cuomo country — City Council goes back to work remotely ]]>

  • U.S. Initial Jobless Claims Fall to 4.42 Million

  • BMO Capital Maintains Their Sell Rating on Empire State Realty (ESRT)

  • Living in America's heartland during a pandemic can be a blessing and a curse

  • Alexandria Ocasio-Cortez says she may not vote for proposed small-business relief bill over "insulting" lack of funding

  • The Stock Market Has Gone Insane

  • New York Will Allow Clerks to Marry Couples Via Videoconference Due to COVID-19