Empire State Realty Trust Q2 2026 Results

Empire State Realty Trust, Inc. announced its financial results for the second quarter of 2026. The company reported a net loss of $(0.15) per share, which includes a $166.1 million non-cash goodwill impairment charge, a $124.6 million gain on the disposition of 250 West 57th Street, and $5.5 million in severance costs. Core Funds From Operations (Core FFO) were $0.21 per share. Same-Store Property Cash Net Operating Income (NOI), excluding lease termination fees, increased by 3.3% year-over-year, primarily due to real estate tax abatements. The total commercial portfolio was 94.9% leased and 89.4% occupied as of June 30, 2026. The company signed 381,799 rentable square feet of commercial leases, with office leases accounting for 363,968 square feet. Office portfolio leasing spreads were positive at +17.8%. The Empire State Building Observation Deck generated $12.4 million in NOI. The company completed the disposition of 250 West 57th Street for $275 million and acquired the land under 111 West 33rd Street and 1400 Broadway properties for $110 million. Subsequent to quarter-end, a $245 million unsecured delayed draw term loan was closed. The company updated its 2026 Core FFO guidance to a range of $0.75 to $0.79 per share.