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Capital (Tables)
 9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Schedule of Equity Securities Repurchased
The following table summarizes ESRT's purchases of equity securities in each of the three months ended September 30, 2020 and the month of October 2020:
Period
Total Number of Shares Purchased
 
Average Price Paid per Share
 
Total Number of Shares Purchased as Part of Publicly Announced Plan
 
Maximum Approximate Dollar Value Available for Future Purchase (in thousands)
July 2020
656,318

 
$
6.72

 
656,318

 
$
380,982

August 2020
—

 
$
—

 
—

 
$
380,982

September 2020
477,620

 
$
6.14

 
477,620

 
$
378,050

October 2020
1,952,013

 
$
6.21

 
1,952,013

 
$
365,934
Summary of ERST Restricted Stock and LTIP Unit
The following is a summary of ESRT restricted stock and LTIP unit activity for the nine months ended September 30, 2020:
 
Restricted Stock
 
LTIP Units
 
Weighted Average Grant Fair Value
Unvested balance at December 31, 2019
118,918

 
5,986,569

 
$
9.73

Vested
(57,599
)
 
(1,052,692
)
 
14.04

Granted
161,449

 
5,011,693

 
5.43

Forfeited or unearned
(1,136
)
 
(2,201,453
)
 
7.57

Unvested balance at September 30, 2020
221,632

 
7,744,117

 
$
6.93
Earnings Per Unit
Earnings per unit for the three and nine months ended September 30, 2020 and 2019 is computed as follows (amounts in thousands, except per share amounts):
 
Three Months Ended
 
Nine Months Ended
 
September 30, 2020
 
September 30, 2019
 
September 30, 2020
 
September 30, 2019
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
(12,269
)
 
$
26,784

 
$
(23,599
)
 
$
55,570

Private perpetual preferred unit distributions
(1,050
)
 
(234
)
 
(3,147
)
 
(702
)
Earnings allocated to unvested units
(342
)
 
(243
)
 
(985
)
 
(646
)
Net income (loss) attributable to common unitholders - basic and diluted
$
(13,661
)
 
$
26,307

 
$
(27,731
)
 
$
54,222

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted average units outstanding - basic
280,940

 
298,151

 
285,640

 
298,117

Effect of dilutive securities:
 
 
 
 
 
 
 
  Stock-based compensation plans

—

 
—

 
—

 
—

Weighted average units outstanding - diluted
280,940

 
298,151

 
285,640

 
298,117

 
 
 
 
 
 
 
 
Earnings per share:
 
 
 
 
 
 
 
Basic
$
(0.05
)
 
$
0.09

 
$
(0.10
)
 
$
0.18

Diluted
$
(0.05
)
 
$
0.09

 
$
(0.10
)
 
$
0.18