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Capital (Tables) | 6 Months Ended
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Jun. 30, 2025
Equity [Abstract] |
Schedule of ESRT's Repurchases of Equity Securities | The following table summarizes ESRT's repurchases of equity securities in each of the three months ended June 30, 2025 under the repurchase program described above:
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)
April 1 - April 30, 2025 | 310,415 |  |  | $ | 6.92 |  |  | 310,415 |  |  | $ | 497,852 |
May 1 - May 31, 2025 | — |  |  | $ | — |  |  | — |  |  | $ | 497,852 |
June 1 - June 30, 2025 | — |  |  | $ | — |  |  | — |  |  | $ | 497,852 |
Schedule of Distribution Activity | The following is a summary of distribution activity:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(amounts in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Distributions paid to OP unitholders |  | $ | (9,755) |  |  | $ | (9,596) |  |  | $ | (19,488) |  |  | $ | (19,098) |
Distributions paid to preferred unitholders |  | (1,051) |  |  | (1,051) |  |  | (2,101) |  |  | (2,101) |
Schedule of Share-Based Payment Award, Restricted Stock, Valuation Assumptions | The fair value per unit or share granted in 2025 was estimated on the respective dates of grant using the following assumptions:
| 2025
Expected life | 2.0 to 5.3 years
Dividend rate | 1.7%
Risk-free interest rate | 3.9% - 4.0%
Expected price volatility | 35.0% - 44.0%
Schedule of ERST Restricted Stock and LTIP Unit Activity | The following is a summary of ESRT restricted stock and LTIP unit activity for the six months ended June 30, 2025:
| Restricted Stock |  | Time-based LTIPs |  | Market-based LTIPs |  | Performance-based LTIPs |  | Weighted Average Grant Fair Value
Unvested balance at December 31, 2024 | 612,416 |  |  | 3,615,771 |  |  | 2,629,002 |  |  | 2,078,099 |  |  | $ | 6.87 |
Vested | (211,476) |  |  | (1,361,704) |  |  | (340,736) |  |  | (229,162) |  |  | 7.48 |
Granted | 245,616 |  |  | 1,866,961 |  |  | 1,679,320 |  |  | 1,112,709 |  |  | 5.89 |
Forfeited or unearned | (27,124) |  |  | — |  |  | — |  |  | (46,846) |  |  | 7.91 |
Unvested balance at June 30, 2025 | 619,432 |  |  | 4,121,028 |  |  | 3,967,586 |  |  | 2,914,800 |  |  | $ | 6.33 |
Schedule of Computation of Earnings Per Unit | Earnings per unit is computed as follows:
| Three Months Ended |  | Six Months Ended
(amounts in thousands, except per unit amounts) | June 30, 2025 |  | June 30, 2024 |  | June 30, 2025 |  | June 30, 2024
Numerator: |  |  |  |  |  |  |
Net income | $ | 11,385 |  |  | $ | 28,555 |  |  | $ | 27,163 |  |  | $ | 38,770 |
Private perpetual preferred unit distributions | (1,051) |  |  | (1,051) |  |  | (2,101) |  |  | (2,101) |
Net income attributable to non-controlling interests in other partnerships | — |  |  | — |  |  | — |  |  | (4) |
Net income attributable to common unitholders – basic and diluted | $ | 10,334 |  |  | $ | 27,504 |  |  | $ | 25,062 |  |  | $ | 36,665 |
Denominator: |  |  |  |  |  |  |
Weighted average units outstanding – basic | 266,899 |  |  | 264,676 |  |  | 266,985 |  |  | 264,619 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock-based compensation plans | 3,052 |  |  | 4,040 |  |  | 2,754 |  |  | 3,486 |
Weighted average units outstanding – diluted | 269,951 |  |  | 268,716 |  |  | 269,739 |  |  | 268,105 |
Earnings per unit: |  |  |  |  |  |  |
Basic | $ | 0.04 |  |  | $ | 0.10 |  |  | $ | 0.09 |  |  | $ | 0.14 |
Diluted | $ | 0.04 |  |  | $ | 0.10 |  |  | $ | 0.09 |  |  | $ | 0.14 |

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 25 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481138/505-30-25-5 + Details
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- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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