Empire State Realty Trust, Inc.

ESRT

$4.50

+1.70%

2026-09-04 11:51:17 EDT+$0.08

Real Estate

REIT - Diversified

NYSE

Negociación activa

Empire State Realty Trust, Inc. (NYSE: ESRT) functions as a leading real estate investment trust (REIT), focused on the acquisition, ownership, management, ...

Cadena de suministro de ESRT

Aguas arriba

Fundiciones, empaquetado, memoria, obleas, componentes y proveedores de insumos.

Aguas arriba

Skanska AB

Johnson Controls International plc

Buro Happold

Building Engines (a JLL company)

EQuest Energy Group

Luthin Associates

NYSERDA (New York State Energy Research and Development Authority)

Skanska AB

STO:SKA-B.ST

Construction & renovation contractor — led $165M top-to-bottom redesign of Empire State Building Observatory; ongoing tenant fit-out work

Johnson Controls International plc

NYSE:JCI

Building systems, HVAC, energy management, and building automation supplier across ESRT portfolio

Consolidated Edison, Inc.

NYSE:ED

Electric, natural gas, and steam utility provider for ESRT's NYC portfolio

Buro Happold

Engineering & decarbonization consultant — developed deep energy retrofit pathways and net-zero roadmap for Empire State Building and portfolio

Building Engines (a JLL company)

NYSE:JLL

Property management software platform (Prism) used for work orders, tenant communications, vendor management across ESRT portfolio

Aguas abajo

Clientes, distribuidores, OEM y canales que absorben la producción.

Aguas abajo

LinkedIn (Microsoft Corporation)

Skanska USA

JCDecaux SE

Citizen

HNTB Corporation

Aprio

LinkedIn (Microsoft Corporation)

NASDAQ:MSFT

Largest office tenant — leases 600,000+ sq ft at Empire State Building across multiple floors; signed 8 expansion leases since 2011

Shutterstock, Inc.

NYSE:SSTK

Major office tenant at Empire State Building

Booking Holdings Inc.

NASDAQ:BKNG

Office tenant at Empire State Building (owns Booking.com, Priceline, Kayak, OpenTable)

Skanska USA

STO:SKA-B.ST

Office tenant at Empire State Building (also serves as construction contractor — dual role)

JCDecaux SE

EURONEXT:DEC

Office tenant at Empire State Building; global outdoor advertising company

Comparables

Empresas cotizadas comparables y valores de seguimiento usados como representantes del análisis.

Comparables

Boston Properties, Inc.

SL Green Realty Corp.

NYSE:SLG

Largest NYC office landlord — most direct public REIT comparable to ESRT for office leasing exposure in Manhattan; similar tenant base and regulatory environment

Vornado Realty Trust

NYSE:VNO

Major NYC-focused office REIT with dominant positions in Midtown Manhattan — closely correlates with ESRT on market conditions, rental trends, and Local Law 97 impacts

Boston Properties, Inc.

NYSE:BXP

Largest publicly traded office REIT nationally with significant NYC exposure (599 Lexington Ave, Times Square Tower) — relevant for broader office REIT valuation comparisons

Geografía

Exposiciones regionales que pueden distorsionar la red de suministro.

Geografía

New York City / Greater NY Metro Area

International Tourism Markets (Asia, Europe, Americas)

LinkedIn (Microsoft Corporation)

Con Edison

CBRE Group, Inc.

NYSERDA

Trip.com Group Limited

Tripadvisor, Inc.

New York City / Greater NY Metro Area

100% portfolio concentration in single metropolitan market; vulnerable to local office demand shifts, remote work trends, property tax increases, and local regulatory changes

LinkedIn (Microsoft Corporation)NASDAQ:MSFTLargest office tenant — concentrated at Empire State Building, NYC

Con EdisonNYSE:EDSole utility provider (electric, gas, steam) for NYC portfolio — monopoly utility with regulated but rising rates

CBRE Group, Inc.NYSE:CBRELeasing broker with deep NYC market expertise

International Tourism Markets (Asia, Europe, Americas)

Observatory segment reliant on international tourist arrivals to NYC; subject to global travel patterns, currency fluctuations, and geopolitical events

Trip.com Group LimitedNASDAQ:TCOMDistribution partner targeting Asian (particularly Chinese) outbound tourists

Tripadvisor, Inc.NASDAQ:TRIPGlobal review and discovery platform driving international visitor traffic

Concentración

Exposiciones de concentración de clientes, proveedores o socios que pueden distorsionar la red de suministro.

Other

Critical

Geographic concentration — 100% of portfolio located in NYC / greater NY metro area, exposing ESRT to local economic cycles, office market trends, and Local Law 97 compliance costs

Customer

High

Tenant concentration — LinkedIn (Microsoft) is the largest tenant with 600K+ sq ft at Empire State Building; three properties together account for ~55.6% of portfolio rental revenues

Other

High

Asset concentration — Empire State Building is the flagship asset; its performance (both leasing and observatory) is material to overall financial results

Other

High

Observatory revenue cyclicality — ~15% of revenue tied to NYC tourism, which is sensitive to macroeconomic downturns, global health crises, and travel disruptions

Other

High

Regulatory risk — New York City Local Law 97 imposes stringent carbon emission caps on large buildings; non-compliance carries significant penalties, driving capex requirements for decarbonization retrofits

Composición de ingresos

Cómo la composición de ingresos se traduce en apalancamiento y dependencia en la cadena de suministro.

Real Estate (Office & Retail Leasing)

84.8%

$0.7B

Drives demand for property management, construction/retrofit services, building systems (HVAC/elevators), energy/utilities, cleaning/maintenance, and brokerage services. Tenant retention and new leasing activity determine revenue stability.

Observatory (Empire State Building Tourism)

15.2%

$0.1B

Drives demand for ticketing technology platforms, visitor experience vendors, OTAs/distribution partners, security services, and retail/concession operators within the observatory. Highly sensitive to NYC tourism flows and macroeconomic cycles.

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Plutux no es un asesor de inversiones. Los datos de mercado y el análisis generado por IA son solo informativos y educativos, no asesoramiento de inversión. Aviso legal

Empire State Realty Trust, Inc.

Cadena de suministro de ESRT

Aguas arriba

Skanska AB

Johnson Controls International plc

Consolidated Edison, Inc.

Buro Happold

Building Engines (a JLL company)

EQuest Energy Group

Luthin Associates

NYSERDA (New York State Energy Research and Development Authority)

View More

Aguas abajo

LinkedIn (Microsoft Corporation)

Shutterstock, Inc.

Booking Holdings Inc.

Skanska USA

JCDecaux SE

Citizen

HNTB Corporation

Aprio

View More

Comparables

SL Green Realty Corp.

Vornado Realty Trust

Boston Properties, Inc.

Geografía

New York City / Greater NY Metro Area

International Tourism Markets (Asia, Europe, Americas)

Cadena de suministro de ESRT

Aguas arriba

Skanska AB

Johnson Controls International plc

Consolidated Edison, Inc.

Buro Happold

Building Engines (a JLL company)

EQuest Energy Group

Luthin Associates

NYSERDA (New York State Energy Research and Development Authority)

View More

Aguas abajo

LinkedIn (Microsoft Corporation)

Shutterstock, Inc.

Booking Holdings Inc.

Skanska USA

JCDecaux SE

Citizen

HNTB Corporation

Aprio

View More

Comparables

SL Green Realty Corp.

Vornado Realty Trust

Boston Properties, Inc.

Geografía

New York City / Greater NY Metro Area

International Tourism Markets (Asia, Europe, Americas)