Empire State Realty OP, L.P. filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 9, 2026, reporting a net loss of $30,664 thousand for the nine months ended September 30, 2026.

Key Highlights

  • Nine-month net loss: The partnership reported a net loss of $30,664 thousand for the nine months ended September 30, 2026, compared to net income of $40,808 thousand in the same period of 2025.
  • Goodwill impairment charge: A goodwill impairment charge of $166,113 thousand was recorded in the nine months ended September 30, 2026, with no comparable charge in the prior-year period.
  • Gain on disposition of property: The partnership recognized a gain on disposition of property of $123,497 thousand for the nine months ended September 30, 2026.
  • Total revenues: Total revenues for the nine months ended September 30, 2026 were $580,277 thousand, up from $569,046 thousand in the same period of 2025.
  • Total assets: Total assets stood at $4,237,938 thousand as of September 30, 2026, compared to $4,468,961 thousand as of December 31, 2025.
  • Units outstanding: As of November 6, 2026, there were 15,648,739 Series ES units, 3,995,010 Series 60 units, and 2,041,800 Series 250 units outstanding.
  • Dividends per unit: Dividends per unit were $0.105 for the nine months ended September 30, 2026, unchanged from the same period in 2025.

Empire State Realty OP Q3 2026: Impairment and Dispositions Shape Nine-Month Results

According to the filing, Empire State Realty OP, L.P. (NYSE Arca:ESBA) reported total revenues of $580,277 thousand for the nine months ended September 30, 2026, an increase from $569,046 thousand in the comparable 2025 period. Rental revenue rose to $493,237 thousand from $466,492 thousand year over year, while Observatory revenue declined to $69,543 thousand from $93,097 thousand. For the third quarter alone, total revenues were $193,053 thousand, compared to $197,730 thousand in Q3 2025.

The partnership disclosed a goodwill impairment charge of $166,113 thousand in the nine-month period, which had no counterpart in the prior-year results. This charge contributed significantly to a total operating loss of $73,445 thousand for the nine months ended September 30, 2026, against operating income of $100,243 thousand in the same 2025 period. Interest expense for the nine months rose to $83,825 thousand from $77,253 thousand. Partially offsetting these items, the filing reports a gain on disposition of property of $123,497 thousand for the nine-month period, compared to $13,170 thousand in the prior year. Net loss for the nine months was $30,664 thousand, translating to a basic and diluted loss per unit attributable to common unitholders of $(0.13).

As of September 30, 2026, the partnership reported total assets of $4,237,938 thousand and total liabilities of $2,458,037 thousand. Real estate properties, net, were $3,061,597 thousand, and the balance sheet also reflects assets held for sale of $83,095 thousand and goodwill of $325,366 thousand, reduced from $491,479 thousand at December 31, 2025. Total mortgage notes payable, net, decreased to $442,399 thousand from $619,269 thousand at year-end 2025. The partnership is classified as an accelerated filer according to the filing.

What Was Disclosed

Empire State Realty OP, L.P. disclosed its unaudited financial results for the quarter and nine months ended September 30, 2026, including a $166,113 thousand goodwill impairment charge, a $123,497 thousand property disposition gain, and a nine-month net loss of $30,664 thousand.