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Capital (Tables) | 6 Months Ended
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Jun. 30, 2026
Equity [Abstract] |
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) |  | 2026 |  | 2025 |  | 2026 |  | 2025
Distributions accrued and paid to OP unitholders |  | $ | (9,767) |  |  | $ | (9,755) |  |  | $ | (19,409) |  |  | $ | (19,488) |
Distributions accrued and paid to preferred unitholders |  | (1,051) |  |  | (1,051) |  |  | (2,101) |  |  | (2,101) |
Schedule of Weighted Average Assumptions Used to Determine Fair Value of Options Granted | The fair value per unit or share granted in 2026 was estimated on the respective dates of grant using the following assumptions:
| 2026
Expected life | 2.0 to 5.3 years
Dividend rate | 1.9%
Risk-free interest rate | 3.7%
Expected price volatility | 31.0% - 36.0%
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, 2026:
| Restricted Stock |  | Time-based LTIPs |  | Market-based LTIPs |  | Performance-based LTIPs |  | Weighted Average Grant Fair Value
Unvested balance at December 31, 2025 | 621,800 |  |  | 4,135,243 |  |  | 3,626,843 |  |  | 2,685,625 |  |  | $ | 6.32 |
Vested | (340,489) |  |  | (1,640,870) |  |  | (210,316) |  |  | (343,276) |  |  | 6.87 |
Granted | 613,722 |  |  | 2,286,565 |  |  | 2,075,563 |  |  | 1,390,671 |  |  | 3.88 |
Forfeited or unearned | (13,737) |  |  | (39,024) |  |  | (561,387) |  |  | (116,899) |  |  | 5.00 |
Unvested balance at June 30, 2026 | 881,296 |  |  | 4,741,914 |  |  | 4,930,703 |  |  | 3,616,121 |  |  | $ | 5.19 |
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, 2026 |  | June 30, 2025 |  | June 30, 2026 |  | June 30, 2025
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | (39,554) |  |  | $ | 11,385 |  |  | $ | (36,559) |  |  | $ | 27,163 |
Private perpetual preferred unit distributions | (1,051) |  |  | (1,051) |  |  | (2,101) |  |  | (2,101) |
Net income (loss) attributable to common unitholders – basic and diluted | $ | (40,605) |  |  | $ | 10,334 |  |  | $ | (38,660) |  |  | $ | 25,062 |
Denominator: |  |  |  |  |  |  |
Weighted average units outstanding – basic | 268,947 |  |  | 266,899 |  |  | 268,870 |  |  | 266,985 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock-based compensation plans | — |  |  | 3,052 |  |  | — |  |  | 2,754 |
Weighted average units outstanding – diluted | 268,947 |  |  | 269,951 |  |  | 268,870 |  |  | 269,739 |
Earnings per unit: |  |  |  |  |  |  |
Basic | $ | (0.15) |  |  | $ | 0.04 |  |  | $ | (0.14) |  |  | $ | 0.09 |
Diluted | $ | (0.15) |  |  | $ | 0.04 |  |  | $ | (0.14) |  |  | $ | 0.09 |

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