帝国州房地产信托公司-A 2025年季度报告

111 West 33rd Street,12th FloorNew York,New York10120 Large accelerated filer☒AcceleratedfilerNon-accelerated filer☐SmallerreportingcompanyEmerging growthcompany If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ 1.Description of Business and OrganizationAs used in these condensed consolidated financial statements, unless the context otherwise requires, “we,” “us,” “our,” the Empire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused real estate investment trust ("REIT") that owns and operates a Empire State Building, the “World's Most Famous Building,” features its iconic Observatory that was declared the #1 Attraction in theWorld - and the #1 Attraction in the U.S. for the third consecutive year – in Tripadvisor’s 2024 Travelers’ Choice Awards: Best of theBest Things to Do. The Company is a recognized leader in energy efficiency and indoor environmental quality. As of March31, 2025, our portfolio was comprised of approximately7.9million rentable square feet of office space,0.8million rentable square feet of retail space and732residential units. Our office portfolio included10properties (includingthreelong-term ground leasehold interests).Nineof these office properties are located in midtown Manhattan and encompass approximately7.6million rentable square feet of office space and0.5million rentable square feet of retail space, including the Empire State Building. The Our multifamily portfolio included732residential units in New York City.We were organized as a Maryland corporation on July 29, 2011 and commenced operations upon completion of our initialpublic offering and related formation transactions on October 7, 2013 (the "Offering"). Our operating partnership, Empire State RealtyOP, L.P. (the "Operating Partnership"), holds substantially all of our assets and conducts substantially all of our business. As ofMarch31, 2025, we owned approximately60.3% of the aggregate operating partnership units in the Operating Partnership.We, as the us. We elected to be subject to tax as a REIT for U.S. federal income tax purposes commencing with our taxable year ended December2.Summary of Significant Accounting PoliciesThere have been no material changes to the summary of significant accounting policies included in the "Summary ofSignificant Accounting Policies" section in our Annual Report on Form 10-K for the year ended December31, 2024 (the “Annual principles generally accepted in the United States of America ("GAAP"), for interim financial information, and with the rules andregulations of the Securities and Exchange Commission (the "SEC"). Accordingly, certain information and footnote disclosures required by GAAP for complete financial statements have been condensed or omitted in accordance with such rules and regulations. In theopinion of management, all adjustments and eliminations (including intercompany balances and transactions), consisting of normalrecurring adjustments, considered necessary for the fair presentation of the financial statements have been included. The results of operations for the periods presented are not necessarily indicative of the results that may be expected for thecorresponding full years. These financial statements should be read in conjunction with the financial statements and accompanying notes included in the financial statements for the year ended December31, 2024 contained in our Annual Report. Our Observatory business issubject to tourism trends and the weather, and therefore does experience some seasonality.For the year ended December31, 2024, lease expirations are matched with seasonal demand. We do not consider the balance of our business to be subject to material seasonalfluctuations. ownership interest, board representation, management representation, authority to make decisions, and contractual and substantiveparticipating rights of the partners/members.For variable interest entities ("VIE"), we consolidate the entity if we are deemed to have a variable interest in the entity and through that interest we are deemed the primary beneficiary. The primary beneficiary of a VIE is theentity that has (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) theobligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. The primarybeneficiary is required to consolidate the VIE. The Operating Partnership is a VIE of ESRT. As the Operating Partnership is alreadyconsolidated in the financial statements of ESRT, the identification of this entity as a VIE has no impact on our consolidated financialstatements. At December 31, 2024 the Operating Partnership was the primary beneficiary of a variable interest in the intermediaryentities that hold title to the