Empire State Realty OP, LP, ES (ESBA) is a company specializing in real estate investments. Reputed as an industry leader, its portfolio incorporates some of the most iconic properties in the New York City area, including the most famous of all, the Empire State Building. Founded on the principles of sustainable operations, this company significantly contributes to the vertiginous skyline of the "city that never sleeps".
ESBA operates as a subsidiary of Empire State Realty Trust Inc., publicly traded as ticker symbol “ESRT” and the first public REIT for Manhattan real estate. Standing as one of the leading REITs in the United States, ESRT manages, possesses, acquires, repositions, and repurposes office and retail properties within the Greater New York metropolitan area. Aside from the Empire State Building, the company’s portfolio contains Manhattan office and retail properties totaling 10 million rentable square feet and an additional 400,000 rentable square feet held throughout the New York Metropolitan area.
The company's dedication to maintaining the highest standards of environmental sustainability is evident in its operations. ESBA utilizes advanced energy efficiency tools, waste management policies, and promotes a healthy and productive workspace. Unwavering commitment to providing superior experiences to tenants, workers, and visitors has won the firm recognition. Empire State Building, itself, has received top ratings such as Energy Star and LEED Gold for its sustainability measures setting new standards for existing buildings.
A prominent feature of ESBA operations is the emphasis they place on tenant relations. They work closely with each tenant, offering services tailored to their specific needs. This approach aims to provide maximum value to their clients and cultivate long-term relationships.
Promoting Arcadia Earth AR’s exhibition in the Empire State Building, ESBA forayed into curated exhibits, opening up fresh revenue streams. This move is illustrative of the innovative spirit of the company seeking strategic opportunities for growth and diversification.
ESBA's strategy is to attract tenants from a variety of industry sectors, thereby shielding itself from economic fluctuations within any one industry. As of late 2020, its largest tenant was LinkedIn Corporation, which occupied approximately 18% of the total Empire State Building space.
The resilience, consistent growth and proven expertise of Empire State Realty OP, LP, ES in managing and operating large scale office and retail properties make it a solid player in the US real estate industry. This paragon of progressive real estate has set a high bar for sustainability and performance within the industry, relentlessly pursuing a commitment to excellence. ESBA’s reputation and enduring success are a testament to its constant evolution, adaptation, and hard work.