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Capital (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Schedule of Distribution Activity
The following is a summary of distribution activity:
Three Months Ended September 30,Nine Months Ended September 30,
(amounts in thousands)2025202420252024
Distributions paid to OP unitholders$(9,752)$(9,595)$(29,240)$(28,693)
Distributions paid to preferred unitholders(1,050)(1,050)(3,151)(3,151)
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 nine months ended September 30, 2025:
Restricted StockTime-based LTIPsMarket-based LTIPsPerformance-based LTIPsWeighted Average Grant Fair Value
Unvested balance at December 31, 2024
612,416 3,615,771 2,629,002 2,078,099 $6.87 
Vested(215,382)(1,361,704)(340,736)(229,162)7.49 
Granted293,924 1,881,176 1,679,320 1,112,709 5.91 
Forfeited or unearned(56,657)— — (46,846)8.08 
Unvested balance at September 30, 2025
634,301 4,135,243 3,967,586 2,914,800 $6.33 
Schedule of Computation of Earnings Per Unit
Earnings per unit is computed as follows:
Three Months EndedNine Months Ended
(amounts in thousands, except per unit amounts)September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Numerator:
Net income$13,645 $22,796 $40,808 $61,566 
Private perpetual preferred unit distributions(1,050)(1,050)(3,151)(3,151)
Net income attributable to non-controlling interests in other partnerships— — — (4)
Net income attributable to common unitholders – basic and diluted$12,595 $21,746 $37,657 $58,411 
Denominator:
Weighted average units outstanding – basic266,963 264,787 266,978 264,675 
Effect of dilutive securities:
  Stock-based compensation plans3,394 4,826 2,967 3,933 
Weighted average units outstanding – diluted270,357 269,613 269,945 268,608 
Earnings per unit:
Basic$0.05 $0.08 $0.14 $0.22 
Diluted$0.05 $0.08 $0.14 $0.22