PR97053

NEW YORK, July 19, 2022 /PRNewswire=KYODO JBN/ --

-- Since its first 17,573 square foot space signed in 2017, iCapital has grown

by 123,651 square feet

Empire State Realty Trust, Inc. (https://c212.net/c/link/?t=0&l=en&o=3596671-1&h=969653325&u=https%3A%2F%2Fwww.esrtreit.com%2F&a=Empire+State+Realty+Trust%2C+Inc)  (NYSE: ESRT) announced today that iCapital (https://c212.net/c/link/?t=0&l=en&o=3596671-1&h=1833814827&u=https%3A%2F%2Fwww.icapitalnetwork.com%2F&a=iCapital) will increase its office space with ESRT for an additional two full floors

which total 59,228 square feet in its fourth expansion at One Grand Central

Place, (https://c212.net/c/link/?t=0&l=en&o=3596671-1&h=1274532744&u=https%3A%2F%2Fwww.esrtreit.com%2Fproperties%2Foffice%2Fone-grand-central-place1%2F&a=One+Grand+Central+Place%2C) for a total of 141,224 square feet across six full floors in a long term lease. iCapital is a leading global fintech company that drives access and

efficiency in alternative investing for the asset and wealth management

industries. Since its first signed lease in 2017, iCapital has expanded four

times with ESRT.

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"We are delighted to extend our five-year partnership with ESRT and continue

expanding our domestic footprint in the heart of New York City with added space

at One Grand Central Place," said Lawrence Calcano, chairman and chief

executive officer of iCapital. "Our ongoing expansion has allowed us to drive

innovation in a contemporary workspace and operate in an environment that

invites collaboration. We look forward to making room for talented individuals

to join our team, empowering us to better serve our clients and continue on our

trajectory of rapid growth in an unmatched location."

One Grand Central Place offers premier tenant office spaces and amenities which

include a tenant-only conference center, multiple dining options, and

in-building access to Grand Central Station's five subway lines, commuter

trains, and retailers.

"Convenient location, unmatched amenities, and premier indoor environmental

quality contributed to iCapital's decision to make its fourth expansion at One

Grand Central Place," said Thomas P. Durels, executive vice president, real

estate at Empire State Realty Trust.

Lauren Crowley Corrinet, Al Golod, and Christopher Hogan of CBRE represented

iCapital in the lease negotiations. Jordan Berger of ESRT and Erik Harris, Neil

Rubin, Scott Klau, and William Cohen of Newmark represented the property owner.

More information about One Grand Central Place, and current availabilities, can

be found online (https://c212.net/c/link/?t=0&l=en&o=3596671-1&h=1214758515&u=https%3A%2F%2Fwww.esrtreit.com%2Fproperties%2Foffice%2Fone-grand-central-place1%2F&a=online) .

About Empire State Realty Trust

Empire State Realty Trust, Inc. (NYSE: ESRT) is a REIT that owns and manages

office, retail, and multifamily assets in Manhattan and the greater New York

metropolitan area. ESRT owns the Empire State Building – the World's Most

Famous Building – and Tripadvisor's 2022 Travelers' Choice Best of the Best

Awards #1 attraction in the U.S. and #3 attraction in the world, in the newly

reimagined and iconic Empire State Building Observatory. The company is a

leader in healthy buildings, energy efficiency, and indoor environmental

quality, and has the lowest greenhouse gas emissions per square foot of any

publicly traded REIT portfolio in New York City. As of Mar. 31, 2022, ESRT's

portfolio is comprised of approximately 9.4 million rentable square feet of

office space, 700,000 rentable square feet of retail space and 625 units across

two multifamily properties. More information about Empire State Realty Trust

can be found at esrtreit.com and by following ESRT on Facebook (https://c212.net/c/link/?t=0&l=en&o=3596671-1&h=4034446071&u=https%3A%2F%2Fwww.facebook.com%2FEmpireStateRealtyTrust%2F&a=Facebook) , Instagram (https://c212.net/c/link/?t=0&l=en&o=3596671-1&h=1574364389&u=https%3A%2F%2Fwww.instagram.com%2Fesrtsocial%2F&a=Instagram) ,

Twitter (https://c212.net/c/link/?t=0&l=en&o=3596671-1&h=2078778275&u=https%3A%2F%2Ftwitter.com%2Fesrtsocial%3Flang%3Den&a=Twitter) and LinkedIn (https://c212.net/c/link/?t=0&l=en&o=3596671-1&h=2335919000&u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fempire-state-realty-trust%2F&a=LinkedIn).

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of

the Federal securities laws. You can identify these statements by our use of

words such as "assumes," "believes," "estimates," "expects," "intends,"

"plans," "projects" or the negative of these words or similar words or

expressions that do not relate to historical matters. You should exercise

caution in interpreting and relying on forward-looking statements, because they

involve known and unknown risks, uncertainties and other factors which are, in

some cases, beyond ESRT's control and could materially affect actual results,

performance or achievements. Such factors and risks include, without

limitation, the current public health crisis and economic disruption from the

COVID-19 pandemic, 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 and ESROP's filings with

the SEC, including those set forth in each of ESRT's and ESROP's Annual Report

on Form 10-K for the year ended December 31, 2021 under the heading "Risk

Factors." Except as may be required by law, ESRT and ESROP do not undertake a

duty to update any forward-looking statement, whether as a result of new

information, future events or otherwise.

Category: Leasing

Source - Empire State Realty Trust, Inc.

MEDIA CONTACT:Empire State Realty Trust, Brock Talbot, 347-804-7863,

btalbot@esrtreit.com