Empire State Realty Trust, Inc. Announces Pricing of Public Offering


Empire State Realty Trust, Inc. Announces Pricing of Public Offering

NEW YORK--(BUSINESS WIRE)-- Empire State Realty Trust, Inc. (the "Company" or "Empire"), a Maryland corporation organized to qualify as a real estate investment trust that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, today announced the pricing of its initial public offering of 71,500,000 shares of its Class A common stock at $13.00 per share. The Company has granted the underwriters a 30-day option to purchase up to an additional 10,725,000 shares of Class A common stock from the Company at the initial public offering price, less the underwriting discount. The Company's shares of Class A common stock are expected to begin trading on October 2, 2013 on the New York Stock Exchange under the symbol "ESRT." The offering is expected to close on October 7, 2013, subject to the satisfaction of customary closing conditions.

The net proceeds of the offering are expected to be approximately $754.4 million after deducting underwriting discounts and commissions and estimated offering expenses, prior to any exercise of the underwriters' over-allotment option. The Company intends to use the net proceeds from the offering primarily to fund certain formation transaction costs and fees and make cash payments to holders of interests in the existing entities, including the Helmsley estate.

Goldman, Sachs & Co. and BofA Merrill Lynch acted as joint book-running managers for the offering. The offering of these securities is being made only by means of a prospectus. Copies of the final prospectus, when available, can be obtained from:

Prospectus Department
Goldman, Sachs & Co.
200 West Street

New York, NY 10282
Email: prospectus-ny@ny.email.gs.com

BofA Merrill Lynch

Attention: Prospectus Department

222 Broadway

New York, NY 10038

Email: dg.prospectus_requests@baml.com

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on October 1, 2013. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Empire State Realty Trust

Empire State Realty Trust, Inc. was formed to continue and expand the commercial real estate business of Malkin Holdings LLC and its affiliates. The Company is a self-administered and self-managed real estate investment trust, or REIT, that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area. After completion of the offering and related formation transactions, the Company owns approximately 8.4 million rentable square feet. Seven office properties are in midtown Manhattan, including the Empire State Building, the world's most famous office building. The other office properties are located in Fairfield County, Connecticut and Westchester County, New York. The Company's portfolio also includes six retail properties representing approximately 205,000 rentable square feet located in Manhattan and in the city center of Westport, Connecticut. The Company also has an option to acquire from affiliates of its predecessor two additional Manhattan office properties encompassing approximately 1.5 million rentable square feet of office space and over 150,000 rentable square feet of retail space at the base of the buildings and also owns entitled land at the Stamford, Connecticut Transportation Center that supports the development of an approximately 380,000 rentable square foot office building and garage.

Forward-Looking Statements

This press release includes "forward looking statements". Forward-looking statements may be identified by the use of words such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "pro forma," "estimates," "contemplates," "aims," "continues," "would" or "anticipates" or the negative of these words and phrases or similar words or phrases. The information in this press release contains forward-looking information that involves substantial risks and uncertainties regarding the proposed initial public offering by the Company. Such risks and uncertainties include, among other things, the possibility that the initial public offering will not be completed within a particular time frame or at a particular offering amount, or at all, including as a result of regulatory, market or other factors. The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: the factors included in the Company's prospectus relating to the initial public offering, including those set forth under the headings "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Business and Properties." While forward-looking statements reflect the Company's good faith beliefs, they are not guarantees of future performance. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. For a further discussion of these and other factors that could impact the Company's future results, performance or transactions, see the section entitled "Risk Factors" in the prospectus relating to the initial public offering, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission. Prospective investors should not place undue reliance on any forward-looking statements, which are based only on information currently available to the Company (or to third parties making the forward-looking statements).

Empire State Realty Trust Investor Relations
(212) 850-2678

KEYWORDS: United States North America New York


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