Empire State Realty Trust Announces CFO Transition Plan

NEW YORK–(BUSINESS WIRE)–Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a leading
real estate investment trust with office and retail properties in
Manhattan and the greater New York metropolitan area, today announced
that David A. Karp will be stepping down from his role as Executive Vice
President and Chief Financial Officer for personal reasons, effective
August 1, 2019. In accordance with the Company’s bylaws, Andrew J.
Prentice, Chief Accounting Officer and Treasurer, will serve as acting
chief financial officer while the Company conducts a search for a
permanent successor. John B. Kessler, President and COO, will lead the
team during the transition.

David has been a valued team member since 2011, and his skill, good
humor, and hard work contributed greatly to our IPO and our further
growth and success,” said Anthony E. Malkin, Chairman and Chief
Executive Officer. “Under David’s watch as CFO, we assembled an
experienced reporting and finance team, and further strengthened our
flexible balance sheet. Further, David is committed to a smooth
transition. On behalf of the entire Company and its shareholders, and me
personally, I thank David and wish him well.”

It has been an honor to be Chief Financial Officer of ESRT during its
transformation from private partnerships to a leading public REIT,” said
Karp. “I am proud of our accomplishments, and it has been a privilege to
work with Tony, John, and the rest of the team. While it was a difficult
decision for me to make, I leave ESRT with a strong balance sheet and
financial team in place. I am thoroughly engaged in the plans for
transition and know the Company is well-prepared for the opportunities
ahead. I intend to relocate to the West Coast where I was born and lived
up through my graduation from college.”

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 March 31, 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

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the Federal securities laws. You can identify these
statements by our use of the words such as “assumes,” “believes,”
“estimates,” “expects,” “intends,” “plans,” “projects” or the negative
of these words or similar words or expressions that do not relate to
historical matters. You should exercise caution in interpreting and
relying on forward-looking statements, because they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond the Company’s control and could materially affect actual results,
performance or achievements. 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 the Company’s filings with
the SEC, including those set forth in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2018 under the headings “Risk
Factors”. Except as may be required by law, the Company does not
undertake a duty to update any forward-looking statement, whether as a
result of new information, future events or otherwise.


Empire State
Realty Trust Investor Relations

(212) 850-2678

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