ESRT buys 298 Mulberry St for $115M, sells 10 Bank St for $42M; observatory traffic recovering

Empire State Realty Trust, Inc.

Acquired 298 Mulberry Street in Manhattan for $115M; 96 free-market units plus retail/garage.
Closed sale of 10 Bank Street, White Plains for $42M; mortgage assumed by buyer.
October-November observatory attendance ~66% of 2019; December to-date 95% of 2019.
Q4-to-date share repurchases $4.4M at avg $6.67; cumulative $277.4M at avg $8.34.
Expects to close $53M sale of 500 Mamaroneck Ave in Q1 2023; proceeds used in 1031 exchange.

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