Empire State Realty Trust, Inc. Class A Common Stock (ESRT)

Competitors to Empire State Realty Trust, Inc. Class A Common Stock (ESRT)

Boston Properties, Inc. 

Boston Properties, while primarily focused on major metropolitan areas outside of New York City, operates in markets that compete indirectly with Empire State Realty Trust through its regional developments in cities like Washington D.C. and San Francisco. Boston Properties focuses on high-quality office and retail space, often employing innovative sustainability practices that enhance its market appeal. As a nationally recognized real estate investment trust, Boston Properties symbolizes healthy competition for ESRT, particularly as it expands its portfolio and adapts to changing workplace trends.

Related Companies

Related Companies is a privately held real estate firm that operates in various sectors including commercial, residential, and mixed-use developments in the New York market. Their significant presence in large-scale developments such as Hudson Yards positions them competitively against Empire State Realty Trust, as Related focuses on lifestyle-oriented projects that appeal to both commercial tenants and retail spaces, which can overshadow Empire State's more historic focus on a single property. This multifaceted approach in urban development provides Related Companies a distinct advantage in attracting varied tenant profiles.

SL Green Realty Corp. 

SL Green Realty Corp. is one of the largest owners and managers of commercial real estate in New York City, mainly focused on Manhattan office properties. Like Empire State Realty Trust, SL Green operates in the same geographic market and targets similar tenants in the office sector. However, SL Green often has more diverse property holdings and a larger total footprint in Manhattan, giving it an edge in diversified income streams compared to Empire State Realty Trust’s more singular focus on the iconic Empire State Building and nearby assets.

Vornado Realty Trust 

Vornado Realty Trust is a major player in the New York commercial real estate market, owning a large number of prime office properties across the city, including properties in both the Midtown and Downtown areas. Vornado’s portfolio is broader and includes a significant mix of retail spaces, which can attract different types of tenants compared to Empire State Realty Trust’s focus. Consequently, Vornado’s ability to leverage a diversified portfolio allows it competitive positioning against Empire State Realty Trust, as it can attract a wider tenant base.