UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36105 EMPIRE STATE REALTY TRUST, INC. (Exact name of Registrant as specified in its charter) Maryland 37-1645259 (State or other jurisdiction of i ...

Financial Data and Key Metrics Changes - For Q4 2024, core FFO was reported at $0.24 per diluted share, with full-year core FFO at $0.95 per diluted share, adjusted to $0.91 when accounting for nonrecurring items [36][39] - Same-store property cash NOI decreased by 2.9% year-over-year in Q4, primarily due to fewer nonrecurring items recognized in 2023 and increased operating expenses [37] - The observatory business generated net operating income of approximately $29 million in Q4 and $100 million for the full year, reflecting a 6% year-over-year growth rate [38] Business Line Data and Key Metrics Changes - The Manhattan office portfolio is now 94.2% leased, an increase of 10 basis points from the previous quarter and up 160 basis points year-over-year [18] - The average net effective rent per square foot in the Manhattan office portfolio increased by 13% year-over-year [18] - The multifamily portfolio maintained a high occupancy rate of 98.5%, benefiting from strong market fundamentals and strategic improvements [21] Market Data and Key Metrics Changes - The Empire State Building's observatory had over 485 billion global media impressions in 2024, a 25% increase year-over-year, generating over $950 million in advertising value equivalency [11] - The leasing environment in New York City is favorable, allowing the company to increase rents and reduce concessions [12] Company Strategy and Development Direction - The company is focused on five priorities: leasing space, selling tickets to the observatory, managing the balance sheet, identifying growth opportunities, and achieving sustainability goals [15][110] - The company is actively seeking additional transaction opportunities to enhance growth through expansion or portfolio trade-outs [15] - A new dynamic pricing model for the observatory is expected to drive revenue growth by monetizing high-demand visitation times [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the leasing momentum and the desirability of their modernized, well-located properties [9] - The company anticipates positive occupancy absorption for the full year 2025, despite some known vacates early in the year [13][25] - Management acknowledged potential challenges in the observatory business due to macroeconomic factors affecting tourism [57] Other Important Information - The company has a well-laddered debt maturity schedule with no unaddressed debt maturity until December 2026, maintaining the lowest leverage among New York City-focused REITs at 5.3 times net debt to EBITDA [28] - The company executed $221 million in acquisitions in the Williamsburg retail corridor and expects an additional $30 million acquisition to close in mid-2025 [29] Q&A Session Summary Question: Dynamics of leasing and tenant discussions - Management noted strong leasing momentum and a good pipeline relative to reduced inventory, with 50,000 square feet of leases signed in Q1 2025 and 130,000 square feet in negotiation [47][48] Question: Expected lease percentage stabilization - Management indicated that the portfolio could exceed 95% leased by year-end 2025, with modest move-outs expected early in the year [51][52] Question: Observations on the observatory business projections - Management explained that the observatory's NOI guidance for 2025 considers macro factors affecting tourism, including airline capacity from China [57][58] Question: Investment opportunities in the office sector - Management expressed interest in residential and retail sectors, noting that while office transaction volumes are low, they are monitoring the market for potential opportunities [66][68] Question: CapEx expectations for 2025 - Management expects a decrease in overall CapEx heading into 2025, following a heavier year of leasing spend in 2024 [80] Question: Impact of corporate headcount reductions on major tenants - Management clarified that Macy's subleases space that does not impact their portfolio, while Kohl's still has a remaining lease term [91]

EMPIRE STATE REALTY TRUST Investor Presentation February 2025 in the World 2024 THORSE 2017 North Sixth Street Collection Multi-Purpose Space at ESB Williamsburg, Brooklyn Breakthru Beverages at One Grand Central Place Hecker Fink I 33 Street Empire Lounge at ESB CLA at One Grand Central Place Contents ESRT Overview Company Priorities Competitive Advantages Flight To Quality Contracted Rents and Tenant Expansions Strong and Flexible Balance Sheet Portfolio Transformation & Redevelopment Capital Recycling ES ...

Exhibit 99.2 Fourth Quarter 2024 | Table of Contents | Page | | --- | --- | | Summary | | | Supplemental Definitions | 3 | | Company Profile | 5 | | Condensed Consolidated Balance Sheets | 6 | | Condensed Consolidated Statements of Operations | 7 | | Highlights | 8 | | Selected Property Data | | | Property Summary Net Operating Income | 9 | | Same Store Net Operating Income ("NOI"), Initial Cash Rent Contributing to Cash NOI | 10 | | Leasing Activity | 11 | | Commercial Property Detail | 13 | | Portfolio Ex ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36105 EMPIRE STATE REALTY TRUST, INC. (Exact name of Registrant as specified in its charter) Maryland 37-1645259 (State or other jurisdic ...

Financial Data and Key Metrics Changes - For Q3 2024, the company reported core FFO of $69 million, or $0.26 per diluted share, with same-store property cash NOI increasing by 5.2% year-over-year, primarily driven by higher revenues from cash rent commencement [21][22] - The company raised the midpoint of its core FFO guidance for 2024 to $0.93 per fully diluted share, with expectations for same-store cash net operating income to range from 3% to 4% relative to 2023 levels [22][23] Business Line Data and Key Metrics Changes - The Manhattan office portfolio's leased rate increased to 93.6%, up 170 basis points year-over-year, while occupancy rose to 89.2%, an increase of 140 basis points year-over-year [10][15] - The company signed over 304,000 square feet of commercial leases in Q3, bringing year-to-date leasing volume to 946,000 square feet [11][14] Market Data and Key Metrics Changes - The demand for high-quality office space in New York City remains strong, with the company experiencing its 11th consecutive quarter of leased percentage growth and positive rent spreads [5][10] - The retail acquisition in Williamsburg, Brooklyn, includes assets that are 90% leased with a weighted average lease term of 7.4 years, indicating a strong market position [16][18] Company Strategy and Development Direction - The company is focused on capital recycling, moving from non-core suburban assets to prime New York City assets, which is expected to improve cash flow and growth prospects [17][39] - The company aims to maintain a strong balance sheet with no unaddressed debt maturity until December 2026, allowing for flexibility in leasing and acquisitions [8][19] Management's Comments on Operating Environment and Future Outlook - Management noted that the overall demand for quality office space is increasing, with tenants recognizing the limited availability of high-quality properties [29][41] - The company anticipates modest lease expirations in its Manhattan office portfolio, positioning it well for occupancy growth in 2025 [13][46] Other Important Information - The company achieved a GRESB score ranking first among all U.S. listed companies in the Americas for sustainability, highlighting its leadership in the office real estate sector [9] - The company has a healthy pipeline of leasing activity, with 150,000 square feet of leases currently in negotiation [11][12] Q&A Session Summary Question: Increase in urgency for tenant renewals - Management noted that there is an increase in urgency among tenants to renew leases early due to limited quality property options [27][29] Question: Visitor growth for the observatory - Management indicated that visitor growth will depend on overall tourism recovery, particularly from international markets, including China [30][31] Question: Future retail acquisitions in Williamsburg - Management expressed confidence in the scale achieved in Williamsburg and outlined strategies for increasing yield through lease-up of vacant spaces and burn-off of free rent [33][34] Question: Guidance adjustments and offsetting factors - Management explained that the modest increase in full-year guidance was due to non-recurring items and higher G&A costs, which were factored into the updated guidance [36][37] Question: Transaction opportunities in the office market - Management remains open to various opportunities, including potential joint ventures, but emphasized a focus on acquiring properties outright when advantageous [43][52]

e World 2024 2022-2024 North 6th Collection the Dragon Acti Williamsburg, Brooklyn at the Empire State Building Hecker Fink LLP at Empire State Building CLA at One Grand Central Place 111 W 33rd Street EMPIRE STATE REALTY TRUST Investor Presentation October 2024 REALTY TRU Contents ESRT Overview Company Priorities Competitive Advantages Flight To Quality Contracted Rents and Tenant Expansions Strong and Flexible Balance Sheet Portfolio Transformation & Redevelopment Capital Recycling ESRT Property Sector Hi ...

Exhibit 99.2 EMPIRE STATE REALTY TRUST Supplemental Operating and Financial Data September 30, 2024 NYSE JLCNBC EMPIRE STATE Third Quarter 2024 | --- | --- | |-------------------------------------------------------------------------------------------------------------|-------| | Table of Contents | Page | | Summary | | | Supplemental Definitions | 3 | | Company Profile | 5 | | Condensed Consolidated Balance Sheets | 6 | | Condensed Consolidated Statements of Operations | 7 | | Highlights | 8 | | Selected Pr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36105 EMPIRE STATE REALTY TRUST, INC. (Exact name of Registrant as specified in its charter) Maryland 37-1645259 (State or other jurisdiction ...

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