Empire State Realty OP, L.P. OGCP

Company Overview

Empire State Realty OP, L.P. is the operating partnership of Empire State Realty Trust, Inc. (ESRT), a publicly traded real estate investment trust (REIT) focused primarily on commercial office, retail, and multifamily real estate in the New York metropolitan area. The company is best known for owning the Empire State Building, which serves as both a major office property and a global tourism destination through its Observatory business. ESRT operates in the commercial real estate, property management, hospitality-adjacent tourism, and energy-efficient building sectors.

The company’s primary revenue drivers include office leasing, retail leasing, observatory admissions, and residential rental income. Its portfolio consists largely of Manhattan office assets positioned to attract tenants seeking centrally located, transit-oriented buildings with sustainability credentials. ESRT has emphasized energy efficiency and indoor environmental quality as differentiators, positioning many of its properties as modernized Class A assets. The business evolved from real estate holdings associated with the Malkin family and affiliated ownership groups, culminating in the formation of Empire State Realty Trust and its 2013 public listing.

Business Operations

Empire State Realty OP, L.P. generates revenue through several core segments, including Office, Observatory, Retail, and limited Multifamily Residential operations. The office portfolio represents the company’s largest business line, with leasing activity concentrated in Manhattan and select Greater New York properties. The Observatory segment, centered on the Empire State Building experience, contributes tourism-driven revenue and has historically been an important earnings differentiator relative to traditional office REITs.

The company manages and operates its properties internally, including leasing, development oversight, property management, and sustainability initiatives. ESRT controls a portfolio of assets concentrated in New York City, particularly Midtown Manhattan, and has invested heavily in building modernization, energy retrofits, and tenant amenity upgrades. Major subsidiaries and affiliated entities operate under the broader Empire State Realty Trust structure, with Empire State Realty OP, L.P. serving as the primary operating entity for property ownership and business activities. Data regarding certain joint venture structures and minority ownership arrangements is limited or subject to change based on public filings.

Strategic Position & Investments

Empire State Realty Trust has focused its strategy on premium office repositioning, sustainability leadership, and maximizing the mixed-use value of the Empire State Building asset. The company has invested significantly in energy efficiency initiatives, indoor air quality systems, and modernization programs designed to improve tenant retention and operating performance. Management has consistently emphasized high-quality tenants, flexible office configurations, and long-term value creation through disciplined capital allocation.

The company’s investment strategy has historically centered on selective acquisitions, redevelopment projects, and portfolio optimization within the New York metropolitan market rather than broad geographic expansion. ESRT has also promoted its leadership in sustainability through building performance certifications and environmental retrofits. The Observatory business remains a strategic asset because it provides diversified revenue exposure tied to tourism and experiential entertainment rather than office leasing alone. Public disclosures confirm continued investment in digital visitor experiences, property enhancements, and operational efficiency initiatives.

Geographic Footprint

Empire State Realty OP, L.P. operates primarily in the United States, with a concentrated footprint in New York City, especially Midtown Manhattan. The company’s headquarters are located in New York, New York, and the majority of its office and retail assets are located in Manhattan, with additional holdings in the broader Greater New York metropolitan area, including select suburban assets.

Although the company does not maintain a broad international property ownership footprint comparable to global REIT peers, its Observatory business attracts visitors from around the world and gives the company substantial international brand visibility. The Empire State Building remains one of the most recognized commercial real estate assets globally, contributing to the company’s international profile despite its geographically concentrated operating portfolio.

Leadership & Governance

Empire State Realty Trust originated from real estate holdings associated with the Malkin organization and affiliated ownership groups. The company operates under a traditional REIT governance framework with executive leadership focused on portfolio performance, leasing execution, sustainability, and shareholder value. Management has publicly emphasized operational discipline, energy-efficient building leadership, and maintaining high occupancy within premier New York office assets.

Key executives include:

• Anthony E. Malkin – Chairman, President, and Chief Executive Officer
• Thomas P. Durels – Executive Vice President, Real Estate
• Christina Chiu – Chief Operating Officer
• Robert E. Pruzan – Executive Vice President and General Counsel
• David A. Karp – Senior Executive Vice President and Chief Financial Officer

The company’s leadership philosophy has emphasized long-term ownership, active asset management, sustainability-focused modernization, and maintaining a concentrated portfolio of high-profile New York properties. Public company governance practices are disclosed through SEC filings, annual reports, and investor presentations.