Capital (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Equity [Abstract] |
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| 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) | |
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| 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% |
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| 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 | |
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| 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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