NEW YORK, Sept. 19, 2017 /PRNewswire/ -- Empire State Realty
Trust (NYSE: ESRT) will relocate the Empire State Building's Observatory entrance from 5th Avenue to 34th
Street, between 5th and 6th Avenue, a move which will enhance the Observatory visitors' experience, improve
foot traffic for the building's 34th Street retail storefronts and improve the commercial office tenant
experience.
"The Observatory visitor will have an entirely new experience, and this is the first step," said Jean-Yves Ghazi, Senior Vice President and Observatory Director. "We look forward to this new
development which is staged so as not to interrupt Observatory operations at all."
"With the relocation of the Observatory entrance, our 34th Street shops will see more than 4 million annual
shoppers, comprised of international and domestic tourists, passing by their front doors, in addition to the nearly 100 million
pedestrians that already walk along the 34th Street corridor between 5th and 7th Avenues
annually. We recently began marketing one of the most exciting retail offerings in Manhattan, with a combination of the Empire State Building's iconic brand recognition, vast exposure to a
massive worldwide audience, phenomenal pedestrian counts, access to over 10,000 office tenant employees and the incredible retail
density of 34th Street," said Thomas P. Durels, Executive Vice President and Director
of Leasing and Operations for ESRT. "Available for the first time in over two decades, the space itself is also unique: up
to 26,438 sq. ft. of contiguous multi-level retail space with 13'7" ceiling heights and over 148 feet of 34th Street
frontage directly opposite Amazon's new retail store."
Additionally, the Empire State Building's office tenants and their visitors will enjoy improved access to the building's Fifth
Avenue lobby as the Observatory entrance relocation will reduce our main lobby foot traffic by more than 4MM visitors
annually.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires
and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building.
Headquartered in New York, New York, the Company's office and retail portfolio covers 10.1
million rentable square feet, as of June 30, 2017, consisting of 9.4 million rentable square feet
in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and
approximately 700,000 rentable square feet in the retail portfolio.
Forward-Looking Statements
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these statements by use of the words "assumes," "believes," "estimates," "expects," "intends," "plans," "projects" and similar
expressions that do not relate to historical matters. You should exercise caution in relying on forward-looking statements,
because they involve risks, uncertainties and other factors which are, in some cases, beyond ESRT's control and could materially
affect actual results. Such factors and risks include, without limitation, a failure of conditions or performance regarding
any event or transaction described above, regulatory changes, and other risks and uncertainties described from time to time in
ESRT's filings with the SEC. Except as may be required by law, ESRT does not undertake a duty to update any forward-looking
statement.
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SOURCE Empire State Realty Trust, Inc.