{"id":969311,"date":"2026-06-02T06:56:20","date_gmt":"2026-06-02T10:56:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/empire-state-realty-trust-announces-disposition-of-250-west-57th-street-and-strengthens-ownership-of-broadway-campus-assets\/"},"modified":"2026-06-02T06:56:20","modified_gmt":"2026-06-02T10:56:20","slug":"empire-state-realty-trust-announces-disposition-of-250-west-57th-street-and-strengthens-ownership-of-broadway-campus-assets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/empire-state-realty-trust-announces-disposition-of-250-west-57th-street-and-strengthens-ownership-of-broadway-campus-assets\/","title":{"rendered":"Empire State Realty Trust Announces Disposition of 250 West 57th Street and Strengthens Ownership of Broadway Campus Assets"},"content":{"rendered":"

<\/p>\n

Empire State Realty Trust Announces Disposition of 250 West 57th<\/sup> Street and Strengthens Ownership of Broadway Campus Assets<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nEmpire State Realty Trust, Inc. (NYSE: ESRT) (the \u201cCompany\u201d) today announced the completion of the disposition of 250 West 57th<\/sup> Street for $275 million, which included the buyer\u2019s assumption of $180 million of mortgage debt. The transaction represents a recycling of capital into the Company’s December 2025 acquisition of 130 Mercer Street, without recognition of a taxable gain. The sale is consistent with ESRT\u2019s strategy to recycle capital into high-quality assets with long-term cash flow growth prospects.<\/p>\n

\nThe Company also completed the purchase of the land underlying its 111 West 33rd<\/sup> Street and 1400 Broadway properties, which carried remaining ground lease terms of approximately 51 and 38 years, respectively, for an aggregate purchase price of $110 million. The transaction enhances the long-term value of ESRT’s high-quality portfolio and was funded with balance sheet liquidity.<\/p>\n

\nAdam Spies, Josh King, Avery Silverstein and Ben Lushing of Newmark (NASDAQ: NMRK) represented the Company in the sale of 250 West 57th<\/sup> Street.<\/p>\n

About Empire State Realty Trust<\/b><\/p>\n

\nEmpire State Realty Trust, Inc. (NYSE: ESRT) is a NYC-focused REIT that owns and operates a portfolio of well-leased, top of tier, modernized, amenitized, and well-located office, retail, and multifamily assets. ESRT\u2019s flagship Empire State Building, the \u201cWorld’s Most Famous Building,\u201d features its iconic Observation Deck, ranked the #1 Top Attraction in the United States in Tripadvisor\u2019s 2026 Travelers\u2019 Choice Awards: Best of the Best Things to Do. The Company is a recognized leader in energy efficiency and indoor environmental quality. As of March 31, 2026, ESRT\u2019s portfolio is comprised of approximately 8.0 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 743 residential units. More information about Empire State Realty Trust can be found at esrtreit.com<\/a> and by following ESRT on Facebook<\/a>, Instagram<\/a>, TikTok<\/a>, X<\/a>, and LinkedIn<\/a>.<\/p>\n

\nSource: Empire State Realty Trust, Inc.
\n
Category: Financial<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260601889466\/en\/<\/a><\/span><\/p>\n

Investors
\n<\/span><\/b>
Empire State Realty Trust Investor Relations
\n<\/b>
(212) 850-2678
\n
IR@esrtreit.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> REIT Finance Professional Services Commercial Building & Real Estate Construction & Property<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Empire State Realty Trust Announces Disposition of 250 West 57th Street and Strengthens Ownership of Broadway Campus Assets NEW YORK–(BUSINESS WIRE)– Empire State Realty Trust, Inc. (NYSE: ESRT) (the \u201cCompany\u201d) today announced the completion of the disposition of 250 West 57th Street for $275 million, which included the buyer\u2019s assumption of $180 million of mortgage debt. The transaction represents a recycling of capital into the Company’s December 2025 acquisition of 130 Mercer Street, without recognition of a taxable gain. The sale is consistent with ESRT\u2019s strategy to recycle capital into high-quality assets with long-term cash flow growth prospects. The Company also completed the purchase of the land underlying its 111 West 33rd Street and 1400 Broadway properties, which carried remaining … <\/p>\n

Continue reading “Empire State Realty Trust Announces Disposition of 250 West 57th Street and Strengthens Ownership of Broadway Campus Assets”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-969311","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nEmpire State Realty Trust Announces Disposition of 250 West 57th Street and Strengthens Ownership of Broadway Campus Assets - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/empire-state-realty-trust-announces-disposition-of-250-west-57th-street-and-strengthens-ownership-of-broadway-campus-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Empire State Realty Trust Announces Disposition of 250 West 57th Street and Strengthens Ownership of Broadway Campus Assets - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Empire State Realty Trust Announces Disposition of 250 West 57th Street and Strengthens Ownership of Broadway Campus Assets NEW YORK–(BUSINESS WIRE)– Empire State Realty Trust, Inc. 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