NORTH SIXTH STREET COLLECTION
DYNAMIC RETAIL DESTINATION NEIGHBORHOOD CREATED BY SPECIAL ZONING
WARBY PARKER
HERMĒS
PG 2
NEIGHBORHOOD DEMOGRAPHICS
HIGH-END RESIDENTIAL TRAFFIC & TOURIST DESTINATION 125K Daytime Population in Williamsburg
RESIDENTS
21% OF HOUSEHOLDS MAKE $200K PER YEAR OR MORE
49% OF HOUSEHOLDS MAKE $100K PER YEAR OR MORE
158K RESIDENTS WITHIN A MILE
36 AVERAGE AGE OF RESIDENT 35% OF POPULATION IS BETWEEN 25-34 YEARS
61% OF POPULATION HAVE A COLLEGE DEGREE OR HIGHER
>$1M MEDIAN HOME VALUE
CHANEL
TOURISM
10 HOTELS COMPRISED OF 1.3K ROOMS OPENED OVER LAST DECADE
$3,212 APPAREL CONSUMER EXPENDITURE (average)
$5,077 DINING CONSUMER EXPENDITURE (average)
30% HOTEL ROOM SUPPLY GROWTH SINCE 2021
GROWTH IN THE NEIGHBORHOOD
36% POPULATION GROWTH WITHIN A MILE OVER LAST DECADE
45% RESIDENTIAL INVENTORY GROWTH SINCE 2014
5.4% POPULATION GROWTH THROUGH 2028
4K+ NEW RESIDENTIAL UNITS UNDERWAY
COS
PG 3
* Sources: Costar and 2023 MTA NYC Subway Data
LOCATION, LOCATION, LOCATION
8.4M Riders Annually at Bedford L Station 2 ND Highest in Brooklyn Weekend ridership exceeds weekly by 60%
5 Minutes and 1 Stop from Manhattan on L Train to Bedford Avenue Station
NYC Ferry : 16 minutes to Manhattan
97 Transit Score
96 Walk Score
88 Bike Score
PG 4
N6 RETAIL MAP
MARSHA P. JOHNSON STATE PARK
NORTH 8TH STREET
NORTH 8TH STREET
EAST RIVER
Largest Weekly Open-Air Food Market in the U.S. 30K Visitors Each Weekend
NORTH 7TH STREET
NORTH 7TH STREET
BEDFORD AVE STATION
ESRT NORTH 6TH STREET
NORTH 6TH STREET
NORTH 6TH STREET
NORTH 5TH ST PIER AND PARK
RESIDENTIAL
NORTH 5TH STREET
NORTH 5TH STREET
NORTH 5TH STREET
NORTH WILLIAMSBURG FERRY
NORTH 4TH STREET
NORTH 4TH STREET
NORTH 4TH STREET
Minutes Away From Manhattan
PG 5
CENTRAL PARK
QUEENS
MoMA TRANSPORTATION MAP
GRAND CENTRAL TERMINAL
LONG ISLAND CITY
PORT AUTHORITY TERMINAL
42 ST / BRYANT PARK
BRYANT PARK
QUEENS-MIDTOWN TUNNEL
GRAND CENTRAL / 42 ST
TIMES SQ / 42 ST
HUDSON YARDS
EMPIRE STATE BUILDING
HUNTERS POINT SOUTH
PENN STATION/ MSG
EAST 34TH STREET
34TH ST HUDSON YARDS
NOMAD
GREENPOINT
GREENPOINT
HERALD SQ / 34 ST
EAST RIVER
MADISON SQUARE PARK
CHELSEA
CHELSEA MARKET
UNION SQUARE
NORTH SIXTH STREET COLLECTION
8 MINS
3 MINS
5 MINS
14 ST
14 ST / 8 AVE
1 AVE
8 AVE
3 AVE
MEATPACKING DISTRICT
14 ST / UNION SQ
NORTH WILLIAMSBURG
BEDFORD AVE
WILLIAMSBURG
WEST 4 ST / WASHINGTON SQ
WILLIAMSBURG BRIDGE
SOHO
BROOKLYN
MARCY AVE
BROADWAY / LAFAYETTE ST
DELANCEY ST / ESSEX ST
6 MIN
SOUTH WILLIAMSBURG
LITTLE ITALY
LOWER EAST SIDE
CHINATOWN
13 MIN
DOWNTOWN BROOKLYN
ONE WORLD TRADE CENTER
FIDI
CLINTON HILL
18 MIN
DUMBO
BROAD ST
WALL STREET
PG 6
ESRT DIFFERENTIATORS
FULL IN-HOUSE TURNKEY SERVICES • Project management, construction, and zoning EXPERT SUSTAINABILITY TEAM • Proactive support to measure, report, and achieve your sustainability goals FINANCIALLY STABLE OWNER • Publicly traded on the NYSE with a best-in-class balance sheet • Strong liquidity and balance sheet flexibility • No floating rate debt exposure
Energy Star Certified
WELL Health- Safety Certified
Fitwell Certified
Carbon Neutral
PG 7
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. 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. ESRT is a service firm and a true partner to its tenants with 293 expansions which total 2.8M RSF since it went public in 2013.
FINANCIAL STABILITY
TENANT ADVANTAGES
Significant Balance Sheet Liquidity
Certainty of owner performance/service
Well laddered Debt Maturity schedule
Consistent, high-level service/maintenance
5.2x Net debt/Adj. EBITDA (REIT peer average: 8.7x)
No cut corners on construction or operations
$1B spent on property upgrades
Expedited response time; no need for lender/partner approvals
No floating rate debt exposure
PG 8
DETAILED DEMOGRAPHICS
RADIUS
1 MILE
3 MILE
5 MILE
RADIUS
1 MILE
3 MILE
5 MILE
POPULATION 2010 POPULATION
POPULATION BY AGE AGE 0 – 4
115,872
1,170,653
2,874,804
11,779
92,934
207,490
2023 POPULATION
157,807
1,387,321
3,197,910
AGE 5 – 9
10,870
81,550
186,257
2028 POPULATION PROJECTION
166,382
1,419,819
3,253,696
AGE 10 – 14
9,372
71,934
168,320
ANNUAL GROWTH 2010-2023
2.8%
1.4%
0.9%
AGE 15 – 19
7,741
63,394
151,227
ANNUAL GROWTH 2023-2028
1.1%
0.5%
0.3%
AGE 20 – 24
7,537
66,543
154,677
HOUSEHOLDS 2010 POPULATION
AGE 25 – 29
11,283
101,775
223,278
AGE 30 – 34
15,884
133,855
289,222
47,234
528,424
1,256,076
AGE 35 – 39
16,496
131,705
286,848
2023 POPULATION
64,366
616,904
1,382,753
AGE 40 – 44
14,107
112,779
250,499
2028 POPULATION PROJECTION
67,904
628,429
1,401,034
AGE 45 – 49
11,112
94,650
216,334
ANNUAL GROWTH 2010-2023
2.7%
1.6%
1.2%
AGE 50 – 54
8,973
84,525
199,906
ANNUAL GROWTH 2023-2028
1.1%
0.4%
0.3%
AGE 55 – 59
7,631
77,481
188,749
AVG. HOUSEHOLD SIZE
2.40
2.10
2.20
AGE 60 – 64
6,725
70,515
174,363
AVG. HOUSEHOLD VEHICLES
0.00
0.00
0.00
HOUSING MEDIAN HOME VALUE
AGE 65 – 69
5,777
61,813
152,906
AGE 70 – 74
4,794
52,512
129,104
$1,035,078
$1,013,722
$924,567
AGE 75 – 79
3,321
37,925
93,006
MEDIAN YEAR BUILT
1965
1959
1955
AGE 80 – 84
2,141
25,036
61,528
OWNER OCCUPIED HOUSEHOLDS
10,927
144,877
344,521
AGE 85+
2,262
26,396
64,198
RENTER OCCUPIED HOUSEHOLDS
56,977
483,552
1,056,514
HOUSEHOLD INCOME < $25,000
POPULATION SUMMARY AGE 15+
12,101
106,537
231,125
125,784
1,140,904
2,635,845
$25,000 – 50,000
8,713
73,064
176,328
AGE 20+
118,043
1,077,510
2,484,618
$50,000 – 75,000
6,288
64,497
159,519
AGE 55+
32,651
351,678
863,854
$75,000 – 100,000
5,958
57,830
138,513
AGE 65+
18,295
203,682
500,742
$100,000 – 125,000
5,678
54,232
128,016
MEDIAN AGE
36.30
38.10
38.80
$125,000 – 150,000
4,361
42,539
97,427
AVG. AGE
36.40
38.70
39.30
$150,000 – 200,000
8,075
66,600
146,322
MEDIAN AGE, MALE
36.20
38.00
38.30
$200,000 +
13,194
151,606
305,503
AVG. AGE, MALE
35.70
38.00
38.40
AVG. HOUSEHOLD INCOME
$126,435
$135,683
$129,901
MEDIAN AGE, FEMALE
36.50
38.20
39.30
MEDIAN HOUSEHOLD INCOME
$96,323
$103,008
$97,453
AVG. AGE, FEMALE
37.00
39.40
40.20
PG 9
* Source: CoStar
ACQUISITION DETAILS
PRICE: ~$225M IN AGGREGATE • All-cash acquisition • $195M closed in 3Q and 4Q • 90% leased; 7.4-year WALT
• Tenants: Hermes, Nike, Santander Work Café, The North Face, Everlane, Warby Parker, DS & Durga, Buck Mason, Chanel, Byredo, & Google • Additional ~$30M asset acquisition on North 6th Street expected to close mid-2025 • Over 500 linear feet of frontage on the shopping blocks of N. 6th St. between Wythe and Bedford Ave ATTRACTIVE UPSIDE: • Significant long-term mark-to-market upside over time as leases roll • Vacancy lease-up INVESTMENT STRATEGY: • ESRT has achieved scale along North 6th Street following its initial acquisition in 3Q23 • Well-located, high traffic, strong market demographics, great cash flow growth prospects
PG 10
N6 STREET RETAIL CORRIDOR
157 WYTHE AVE
77 N 6TH ST
81 N 6TH ST
85-87 N 6TH ST
89-91 N 6TH ST
102 N 6TH ST
104 N 6TH ST
124 N 6TH ST
126 N 6TH ST
128 N 6TH ST
130 N 6TH ST
132 N 6TH ST
134 N 6TH ST
NORTH SIXTH STREET COLLECTION
CONTACT US
Fred C. Posniak 212-850-2618 fposniak@esrtreit.com
Ryan Kass 212-850-2756 rkass@esrtreit.com
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