Empire State Realty Op, L.P. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
February 18, 2021 at 02:55 am IST
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Empire State Realty OP, L.P. Announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced total revenue was USD 151.399 million compared to USD 194.933 million a year ago. Operating income was USD 19.426 million compared to USD 47.112 million a year ago. Net income was USD 840,000 compared to USD 17.840 million a year ago.
For the full year, total revenue was USD 609.228 million compared to USD 731.343 million a year ago. Operating income was USD 58.661 million compared to USD 154.706 million a year ago. Net loss was USD 12.515 million compared to net income of USD 51.188 million a year ago.
Empire State Realty OP, L.P. is a real estate investment trust. The Company owns and operates a portfolio of modernized, amenitized, and well-located office, retail, and multifamily assets. The Companyâs segments include Real Estate and an Observatory. Its Real Estate segment includes all activities related to the ownership, management, operation, acquisition, repositioning and disposition of its commercial and multifamily real estate assets, principally office assets, located in Manhattan. Its Observatory segment operates the 86th and 102nd floor observatories at the Empire State Building. Its portfolio comprises approximately 8.6 million rentable square feet of office space, 0.7 million rentable square feet of retail space and 727 residential units. Its office portfolio includes 11 properties encompassing over 8.6 million rentable square feet. Nine of these office properties are located in midtown Manhattan. The remaining two office properties are located in Stamford, Connecticut.
EMPIRE STATE REALTY OP, L.P. 
