Below are the financial statements of Empire State Realty OP, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
All figures in thousands of USD | 2024 | 2023 | 2022 |
---|---|---|---|
Revenues | — | — | — |
Rental revenue | 614,596a | 597,319a | 591,048a |
Observatory revenue | 136,377a | 129,366a | 105,978a |
Lease termination fees | 4,771a | 0a | 20,032a |
Third-party management and other fees | 1,170a | 1,351a | 1,361a |
Other revenue and fees | 11,009a | 11,536a | 8,622a |
Total revenues | 767,923a | 739,572a | 727,041a |
Operating expenses | — | — | — |
Property operating expenses | -179,175a | -167,324a | -157,935a |
Ground rent expenses | -9,326a | -9,326a | -9,326a |
General and administrative expenses | -70,234a | -63,939a | -61,765a |
Observatory expenses | -36,834a | -35,265a | -31,036a |
Real estate taxes | -128,826a | -127,101a | -123,057a |
Depreciation and amortization | -184,818a | -189,911a | -216,894a |
Total operating expenses | -609,213a | -592,866a | -600,013a |
Total operating income | 158,710a | 146,706a | 127,028a |
Other income (expense) | — | — | — |
Interest income | 21,298a | 15,136a | 4,948a |
Interest expense | -105,239a | -101,484a | -101,206a |
Interest expense associated with property in receivership | -4,471a | 0a | 0a |
Loss on early extinguishment of debt | -553a | 0a | 0a |
Gain on disposition of properties | 13,302a | 26,764a | 33,988a |
Income before income taxes | 83,047a | 87,122a | 64,758a |
Income tax expense | -2,688a | -2,715a | -1,546a |
Net income | 80,359a | 84,407a | 63,212a |
Private perpetual preferred unit distributions | -4,201a | -4,201a | -4,201a |
Net (income) loss attributable to non-controlling interest in other partnerships | -4a | -68a | 243a |
Net income attributable to common unitholders | 76,154a | 80,138a | 59,254a |
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