Filing Flows › Empire State Realty OP, L.P. (ESBA) › How it makes money
How Empire State Realty OP, L.P. (ESBA) makes money
Empire State Realty OP, L.P. (ESBA) made $193M of revenue in the third quarter 2026 (Q3 2026), -2% from a year earlier. Rental revenue brought in $162M (84%); Observatory revenue brought in $26.8M (14%); Other revenue and fees brought in $4.0M (2%). Of every dollar of revenue, 19¢ was left as operating profit, 2¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Rental revenue | $162M | 83.9% | -2% | -2% |
| Observatory revenue | $26.8M | 13.9% | +11% | +11% |
| Other revenue and fees | $4.0M | 2.1% | -45% | -45% |
| Third-party management and other fees | $277K | 0.1% | +3% | +3% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $193M | 100.0% |
| Operating profit | $35.8M | 18.5% |
| Income tax | $1.9M | 1.0% |
| Net earnings | $3.1M | 1.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $193M | -2% |
| Q2 2026 | $197M | +3% |
| Q1 2026 | $190M | +6% |
| Q4 2025 | $199M | +0.8% |
| Q3 2025 | $198M | -0.9% |
| Q2 2025 | $191M | +0.9% |
| Q1 2025 | $180M | -0.6% |
From Empire State Realty OP, L.P.'s 8-K filed Nov 2, 2026 (on EDGAR).
Questions
How does Empire State Realty OP, L.P. make money?
Empire State Realty OP, L.P. (ESBA) made $193M of revenue in the third quarter 2026 (Q3 2026), -2% from a year earlier. Rental revenue brought in $162M (84%); Observatory revenue brought in $26.8M (14%); Other revenue and fees brought in $4.0M (2%). Of every dollar of revenue, 19¢ was left as operating profit, 2¢ was left as net earnings.
What is Empire State Realty OP, L.P.'s biggest business?
Rental revenue: $162M in the third quarter 2026, 84% of revenue, -2% from a year earlier.
What is Empire State Realty OP, L.P.'s profit margin?
Net earnings were $3.1M, 1.6% of revenue, in the third quarter 2026; the operating margin was 18.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.