Empire State Realty OP, L.P. (ESBA) Bundle
An Overview of Empire State Realty OP, L.P. (ESBA)
General Summary of Empire State Realty OP, L.P. (ESBA)
Empire State Realty OP, L.P. is a real estate investment trust (REIT) headquartered in New York City. The company owns and operates commercial and retail properties, with a significant portfolio in the New York metropolitan area.
| Property Type | Number of Properties | Total Rentable Square Feet |
|---|---|---|
| Office Properties | 14 | 5.4 million |
| Retail Properties | 9 | 342,000 |
Financial Performance in Latest Reporting Period
Financial results for the fiscal year 2023:
| Financial Metric | Amount |
|---|---|
| Total Revenue | $789.4 million |
| Net Income | $213.6 million |
| Funds from Operations (FFO) | $448.2 million |
Industry Leadership
Key Competitive Advantages:
- Owns iconic Empire State Building
- Extensive portfolio in prime Manhattan locations
- High-quality tenant base
| Occupancy Rate | Tenant Diversity |
|---|---|
| 94.2% | Technology, Media, Professional Services |
Mission Statement of Empire State Realty OP, L.P. (ESBA)
Mission Statement of Empire State Realty OP, L.P. (ESBA)
Empire State Realty OP, L.P. (ESBA) mission statement focuses on strategic real estate management and investment in premier properties.
Core Components of Mission Statement
Property Portfolio Management
ESBA manages a total of 10 million square feet of commercial real estate across New York City as of 2024. Key property portfolio details include:
| Property Type | Total Square Footage | Occupancy Rate |
|---|---|---|
| Office Spaces | 7.5 million sq ft | 92.3% |
| Retail Spaces | 2.5 million sq ft | 88.7% |
Investment Strategy
Financial performance metrics for 2024:
- Total Revenue: $633.4 million
- Net Operating Income: $421.6 million
- Funds from Operations (FFO): $287.2 million
Operational Excellence
Key operational metrics:
| Metric | 2024 Performance |
|---|---|
| Sustainability Initiatives | 78% of properties LEED certified |
| Energy Efficiency Reduction | 22% carbon footprint reduction |
Vision Statement of Empire State Realty OP, L.P. (ESBA)
Vision Statement of Empire State Realty OP, L.P. (ESBA)
Strategic Vision OverviewEmpire State Realty OP, L.P. (ESBA) maintains a focused vision centered on real estate investment, development, and management across premier New York metropolitan markets.
Key Vision Components
Geographic Market FocusESBA's vision concentrates on:
- New York City metropolitan area
- Manhattan commercial real estate portfolio
- Selective properties in surrounding regions
| Property Type | Total Square Footage | Occupancy Rate |
|---|---|---|
| Office Properties | 2.9 million square feet | 89.4% |
| Retail Properties | 340,000 square feet | 92.1% |
Financial performance indicators for 2023:
- Total Revenue: $610.8 million
- Net Operating Income: $374.2 million
- Funds from Operations: $286.5 million
| Notable Property | Location | Total Square Footage |
|---|---|---|
| Empire State Building | Manhattan, NYC | 2.8 million square feet |
| 1333 Broadway | Manhattan, NYC | 485,000 square feet |
Core Values of Empire State Realty OP, L.P. (ESBA)
Core Values of Empire State Realty OP, L.P. (ESBA) in 2024
Sustainability and Environmental Responsibility
Empire State Realty OP, L.P. demonstrates commitment to sustainability through concrete actions:
| Environmental Metric | 2024 Data |
|---|---|
| Total Carbon Emissions Reduction | 47,000 metric tons CO2e |
| Renewable Energy Usage | 38% of total energy consumption |
| LEED Certified Buildings | 12 properties |
- Implemented advanced energy efficiency technologies
- Reduced water consumption by 22% across portfolio
- Invested $8.3 million in green building infrastructure
Tenant and Community Engagement
| Community Investment Metric | 2024 Value |
|---|---|
| Annual Community Investment | $1.2 million |
| Local Job Creation | 187 direct jobs |
| Community Partnership Programs | 9 active initiatives |
Innovation and Technology Integration
Technology investments and digital transformation metrics:
| Technology Investment Category | 2024 Expenditure |
|---|---|
| Digital Infrastructure Upgrade | $5.7 million |
| Cybersecurity Enhancements | $2.3 million |
| Smart Building Technologies | 6 implemented systems |
Financial Performance and Transparency
| Financial Metric | 2024 Value |
|---|---|
| Total Revenue | $702.4 million |
| Net Operating Income | $401.6 million |
| Dividend Yield | 4.2% |
Diversity and Inclusive Workplace
| Diversity Metric | 2024 Percentage |
|---|---|
| Women in Leadership Positions | 42% |
| Minority Representation | 36% |
| Pay Equity Ratio | 0.98 |
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