---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-041274"
form_type: "8-K"
ticker: "ESRT"
cik: "0001541401"
company_name: "Empire State Realty Trust, Inc."
filed_at: "2025-04-29T23:59:59+00:00"
generated_at: "2026-05-23T03:47:00.594148+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ESRT Q1 core FFO $0.19 vs $0.21 YoY; net income $0.05; same-store NOI down 1.9%

## Summary
- Net income $0.05 per diluted share; Core FFO $0.19 per share, down from $0.21 in Q1 2024.
- Same-store Property Cash NOI (ex lease term fees) decreased 1.9% YoY; +0.4% adjusted for non-recurring items.
- Signed 229k sq ft of office leases; Manhattan office blended leasing spreads +10.4% for 15th consecutive quarter.
- Manhattan office 93.0% leased, 88.1% occupied as of March 31, 2025; total commercial 92.5% leased.
- 2025 Core FFO guidance $0.86-$0.89 vs $0.91 ex non-recurring in 2024; outlook unchanged.

## SEC filing metadata
- accession: 0001104659-25-041274
- form_type: 8-K
- ticker: ESRT
- cik: 0001541401
- company_name: Empire State Realty Trust, Inc.
- filed_at: 2025-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1541401/000110465925041274/0001104659-25-041274-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1541401/000110465925041274/tm2513429d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-041274
- JSON: https://secwatch.observer/filing/0001104659-25-041274.json
- Plain text: https://secwatch.observer/filing/0001104659-25-041274.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.