XML 49 R23.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Schedule III - Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III - Real Estate and Accumulated Depreciation
Schedule III—Real Estate and Accumulated Depreciation
(amounts in thousands)
 
 
 
 
 
 
Initial Cost to
the Company
 
Cost Capitalized
Subsequent to
Acquisition
 
Gross Amount at
which Carried
at 12/31/19
 
 
 
 
 
 
Development
 
Type
 
Encumbrances
 
Land and Development Costs
 
Building &
Improvements
 
Improvements
 
Carrying
Costs
 
Land and Development Costs
 
Buildings &
Improvements
 
Total
 
Accumulated
Depreciation
 
Date of
Construction
 
Date
Acquired
 
Life on
which
depreciation
in latest
income
statement is
computed
111 West 33rd Street, New York, NY
 
office /
retail
 
$
—

 
$
13,630

 
$
244,461

 
$
124,153

 
n/a

 
$
13,630

 
$
368,614

 
$
382,244

 
$
(54,356
)
 
1954
 
2014
 
various
1400 Broadway, New York, NY
 
office /
retail
 
—

 
—

 
96,338

 
76,764

 
—

 
—

 
173,102

 
173,102

 
(37,745
)
 
1930
 
2014
 
various
1333 Broadway, New York, NY
 
office /
retail
 
158,617

 
91,435

 
120,190

 
9,434

 
n/a

 
91,435

 
129,624

 
221,059

 
(25,483
)
 
1915
 
2013
 
various
1350 Broadway, New York, NY
 
office /
retail
 
—

 
—

 
102,518

 
32,818

 
—

 
—

 
135,336

 
135,336

 
(32,584
)
 
1929
 
2013
 
various
250 West 57th Street, New York, NY
 
office/
retail
 
—

 
2,117

 
5,041

 
153,241

 
n/a

 
2,117

 
158,282

 
160,399

 
(42,521
)
 
1921
 
1953
 
various
501 Seventh Avenue, New York, NY
 
office/
retail
 
—

 
1,100

 
2,600

 
94,547

 
n/a

 
1,100

 
97,147

 
98,247

 
(40,924
)
 
1923
 
1950
 
various
1359 Broadway, New York, NY
 
office/
retail
 
—

 
1,233

 
1,809

 
59,570

 
n/a

 
1,233

 
61,379

 
62,612

 
(29,437
)
 
1924
 
1953
 
various
350 Fifth Avenue (Empire State Building), New York, NY
 
office/
retail
 
—

 
21,551

 
38,934

 
994,622

 
n/a

 
21,551

 
1,033,556

 
1,055,107

 
(262,236
)
 
1930
 
2013
 
various
One Grand Central Place,
New York, NY
 
office/
retail
 
—

 
7,240

 
17,490

 
266,090

 
n/a

 
7,222

 
283,598

 
290,820

 
(119,574
)
 
1930
 
1954
 
various
First Stamford Place, Stamford, CT
 
office
 
178,820

 
22,952

 
122,739

 
73,243

 
n/a

 
24,862

 
194,072

 
218,934

 
(86,636
)
 
1986
 
2001
 
various
One Station Place, Stamford, CT (Metro Center)
 
office
 
89,474

 
5,313

 
28,602

 
18,876

 
n/a

 
5,313

 
47,478

 
52,791

 
(32,379
)
 
1987
 
1984
 
various
383 Main Avenue, Norwalk, CT
 
office
 
29,647

 
2,262

 
12,820

 
28,083

 
n/a

 
2,262

 
40,903

 
43,165

 
(14,815
)
 
1985
 
1994
 
various
500 Mamaroneck Avenue, Harrison, NY
 
office
 
—

 
4,571

 
25,915

 
24,723

 
n/a

 
4,571

 
50,638

 
55,209

 
(24,714
)
 
1987
 
1999
 
various
10 Bank Street, White Plains, NY
 
office
 
32,496

 
5,612

 
31,803

 
19,699

 
n/a

 
5,612

 
51,502

 
57,114

 
(23,557
)
 
1989
 
1999
 
various
10 Union Square, New York, NY
 
retail
 
49,252

 
5,003

 
12,866

 
2,363

 
n/a

 
5,003

 
15,229

 
20,232

 
(8,245
)
 
1987
 
1996
 
various
1542 Third Avenue, New York, NY
 
retail
 
29,532

 
2,239

 
15,266

 
449

 
n/a

 
2,239

 
15,715

 
17,954

 
(8,210
)
 
1991
 
1999
 
various
1010 Third Avenue, New York, NY and 77 West 55th Street, New York, NY
 
retail
 
37,704

 
4,462

 
15,817

 
1,173

 
n/a

 
4,462

 
16,990

 
21,452

 
(9,037
)
 
1962
 
1998
 
various
69-97 Main Street, Westport, CT
 
retail
 
—

 
2,782

 
15,766

 
3,933

 
n/a

 
2,782

 
19,699

 
22,481

 
(7,542
)
 
1922
 
2003
 
various
103-107 Main Street, Westport, CT
 
retail
 
—

 
1,243

 
7,043

 
358

 
n/a

 
1,260

 
7,384

 
8,644

 
(2,539
)
 
1900
 
2006
 
various
Property for development at the Transportation Hub in Stamford, CT
 
land
 
—

 
4,542

 
—

 
7,989

 
—

 
12,531

 
—

 
12,531

 
—

 
n/a
 
n/a
 
n/a
Totals
 
 
 
$
605,542

 
$
199,287

 
$
918,018

 
$
1,992,128

 
$
—

 
$
209,185

 
$
2,900,248

 
$
3,109,433

 
$
(862,534
)
 
 
 
 
 
 






Empire State Realty Trust, Inc.
Notes to Schedule III—Real Estate and Accumulated Depreciation
(amounts in thousands)
1. Reconciliation of Investment Properties
The changes in our investment properties for the years ended December 31, 2019, 2018 and 2017 are as follows:
 
 
2019
 
2018
 
2017
Balance, beginning of year
$
2,884,486

 
$
2,667,655

 
$
2,458,629

Acquisition of new properties
—

 
—

 
—

Improvements
255,924

 
256,496

 
228,162

Disposals
(30,977
)
 
(39,665
)
 
(19,136
)
Balance, end of year
$
3,109,433

 
$
2,884,486

 
$
2,667,655

The unaudited aggregate cost of investment properties for federal income tax purposes as of December 31, 2019 was $2.6 billion.
2. Reconciliation of Accumulated Depreciation
The changes in our accumulated depreciation for the years ended December 31, 2019, 2018 and 2017 are as follows:
 
 
 
2019
 
2018
 
2017
Balance, beginning of year
 
$
747,304

 
$
656,900

 
$
556,546

Depreciation expense
 
146,207

 
130,069

 
119,490

Disposals
 
(30,977
)
 
(39,665
)
 
(19,136
)
Balance, end of year
 
$
862,534

 
$
747,304

 
$
656,900

Depreciation of investment properties reflected in the combined statements of income is calculated over the estimated original lives of the assets as follows:
Buildings
 
39 years
Building improvements
 
39 years or useful life
Tenant improvements
 
Term of related lease