Empire State Realty OP reported a net loss attributable to common unitholders of $40.6 million for Q2 2026, swinging from profit a year earlier.
Revenue rose 3% to $196.9 million, as rental revenue climbed 7.6% to $165.2 million despite a 28.5% drop in Observatory revenue.
Results included a non-cash goodwill impairment charge of $166.1 million tied to the Observatory reporting unit and a $124.6 million gain on the sale of 250 West 57th Street.
Core FFO, a non-GAAP measure, slipped to $57.1 million attributable to common unitholders, reflecting $5.5 million of one-time severance costs.
Property transactions
Closed the $275 million sale of 250 West 57th Street and bought land under 111 West 33rd Street and 1400 Broadway for $110 million.
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