Solidly Stands Apart
In a volatile market, it is critical for tenants to partner with a financially stable, service-oriented owner on real estate decisions. 501 Seventh Avenue is debt-free. Empire State Realty Trust, a publicly traded company with a best-in-class balance sheet maintains a solid financial platform and leads the way on healthy buildings with premier indoor environmental quality (IEQ), industry-leading sustainability and energy efficiency practices, and unmatched amenities.
FINANCIAL STABILITY
Over $1B of balance sheet liquidity as of 6/30/24
Well-laddered Debt Maturity schedule
5.2x Net debt/Adj. EBITDA (REIT peer average: 8.7x)
$1B spent on property upgrades
No floating rate debt exposure
ESRT is a service firm and a true partner to its tenants with over 285 tenant expansions , which total 2.8M RSF since it went public in 2013. This partnership allows our tenant family to move within the ESRT portfolio hassle-free with a commitment to 100% commission paid on lease signing.
TENANT ADVANTAGES
Certainty of owner performance/service
Consistent, high-level service/maintenance
No cut corners on construction or operations
High-end finishes
Flexibility of offerings such as terms and options
Expedited response time with no need for lender/partner approvals
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