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Empire State Realty Had Solid Q1

NEW YORK CITY—“Our low levered balance sheet and new leases at higher spreads continued to drive strong value,” says chairman, CEO and president Anthony Malkin.

By Rayna Katz | Updated on May 06, 2014

NEW YORK CITY—Empire State Realty Trust had a good first quarter, according to its newly released earnings report for the first three months of the year.

Says Anthony Malkin, chairman, CEO and president, “We had a positive start in 2014. We continued to produce strong leasing results including renewal leases and expansions with several key tenants. Additionally, we saw strength in attendance at the Empire State Building Observatory and increased Observatory revenues from optimized ticket sales and pricing, despite difficult weather and the shift of Easter week from March to April. We believe our low levered balance sheet and new leases at higher spreads continued to drive strong value.”

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