Empire State Realty Op, L.P. Reports Earnings Results for the Third Quarter Ended September 30, 2020
November 06, 2020 at 12:55 am IST
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Empire State Realty OP, L.P. Announced earnings results for the third quarter ended September 30, 2020. For the third quarter, the company announced total revenue was USD 146.575 million compared to USD 192.873 million a year ago. Operating income was USD 11.928 million compared to USD 45.279 million a year ago. Net loss was USD 12.269 million compared to net income of USD 26.784 million a year ago. For the nine months, total revenue was USD 457.829 million compared to USD 536.410 million a year ago. Operating income was USD 39.235 million compared to USD 107.594 million a year ago. Net loss was USD 23.599 million compared to net income of USD 55.570 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. 
