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Press Release

Empire State Realty Trust Welcomes Target to Union Square East

Company Release - 2/25/2020 4:45 PM ET

NEW YORK, Feb. 25, 2020 /PRNewswire/ -- Empire State Realty Trust, Inc. (NYSE: ESRT) announced today that national retailer Target has signed a lease at 10 Union Square East for an approximately 33,000 square foot store.

"ESRT is delighted to continue our partnership with Target as they open a new store at our Union Square property. Located in one of the city's most dynamic retail submarkets, it has close proximity to one of the busiest subway stations in New York and access to the 350,000 daily visitors to the bustling neighborhood," said Fred Posniak, Senior Vice President, Retail Leasing.

Retailers interested in capitalizing on Union Square East's heavy traffic from tourists, NYU students, office workers, and locals can join Target in either a 3,084 square foot corner unit with frontage on Union Square and 14th Street or a 4,705 square foot unit with entrances on Union Square and 15th Street.

Richard Skulnik of Ripco Real Estate represented Target. Landlord representation was provided by Fred C. Posniak of ESRT.

About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the "World's Most Famous Building." Headquartered in New York, New York, the Company's office and retail portfolio covers 10.1 million rentable square feet, as of September 30, 2019, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; and approximately 700,000 rentable square feet in the retail portfolio. 

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by use of the words "assumes," "believes," "estimates," "expects," "intends," "plans," "projects" and similar expressions that do not relate to historical matters. You should exercise caution in relying on forward-looking statements, because they involve risks, uncertainties and other factors which are, in some cases, beyond ESRT's control and could materially affect actual results.  Such factors and risks include, without limitation, a failure of conditions or performance regarding any event or transaction described above, regulatory changes, and other risks and uncertainties described from time to time in ESRT's filings with the SEC.  Except as may be required by law, ESRT does not undertake a duty to update any forward-looking statement.

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SOURCE Empire State Realty Trust, Inc.