Empire State Realty Trust Announces a New Repurchase Authorization and Continued Dividend Suspension for First and Second Quarters Of 2021

NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today announced that its Board of Directors has approved a new repurchase authorization of up to $500 million of the Company’s Class A common stock (“Common Stock”) and Empire State Realty OP, L.P.’s (“ESRO”) Series ES, Series 250 and Series 60 operating partnership units (NYSE Arca: ESBA, FISK and OGCP, respectively) (collectively with the Common Stock, the “Securities”) during the period from January 1, 2021 through December 31, 2021. This will replace an earlier $500 million repurchase authorization that runs from January 1, 2020 through December 31, 2020. Under the 2020 authorization, the Company repurchased approximately $143 million at a weighted average price of $8.31 through December 11, 2020.