Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2020

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 12/31/20
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	$	125,514	n/a		$	13,630	$	369,975	$	383,605	$	70,495	1954	2014	various
1400 Broadway, New York, NY	office / retail	—		—		96,338		86,939		—		—		183,277		183,277		46,694		1930	2014	various
1333 Broadway, New York, NY	office / retail	158,676		91,435		120,190		10,469		n/a		91,435		130,659		222,094		29,285		1915	2013	various
1350 Broadway, New York, NY	office / retail	—		—		102,518		38,180		—		—		140,698		140,698		38,967		1929	2013	various
250 West 57th Street, New York, NY	office/ retail	173,835		2,117		5,041		163,843		n/a		2,117		168,884		171,001		49,958		1921	1953	various
501 Seventh Avenue, New York, NY	office/ retail	—		1,100		2,600		96,842		n/a		1,100		99,442		100,542		45,220		1923	1950	various
1359 Broadway, New York, NY	office/ retail	—		1,233		1,809		63,075		n/a		1,233		64,884		66,117		32,420		1924	1953	various
350 Fifth Avenue (Empire State Building), New York, NY	office/ retail	—		21,551		38,934		970,966		n/a		21,551		1,009,900		1,031,451		275,648		1930	2013	various
One Grand Central Place, New York, NY	office/ retail	—		7,240		17,490		268,333		n/a		7,222		285,841		293,063		123,509		1930	1954	various
First Stamford Place, Stamford, CT	office	178,943		22,952		122,739		75,458		n/a		24,861		196,288		221,149		91,678		1986	2001	various
One Station Place, Stamford, CT (Metro Center)	office	87,236		5,313		28,602		19,581		n/a		5,313		48,183		53,496		31,903		1987	1984	various
383 Main Avenue, Norwalk, CT	office	29,668		2,262		12,820		30,878		n/a		2,262		43,698		45,960		15,901		1985	1994	various
500 Mamaroneck Avenue, Harrison, NY	office	—		4,571		25,915		26,708		n/a		4,571		52,623		57,194		26,760		1987	1999	various
10 Bank Street, White Plains, NY	office	31,624		5,612		31,803		20,833		n/a		5,612		52,636		58,248		25,537		1989	1999	various
10 Union Square, New York, NY	retail	49,365		5,003		12,866		2,579		n/a		5,003		15,445		20,448		8,687		1987	1996	various
1542 Third Avenue, New York, NY	retail	29,592		2,239		15,266		464		n/a		2,239		15,730		17,969		8,644		1991	1999	various
1010 Third Avenue, New York, NY and 77 West 55th Street, New York, NY	retail	36,990		4,462		15,817		1,251		n/a		4,463		17,067		21,530		9,500		1962	1998	various
69-97 Main Street, Westport, CT	retail	—		2,782		15,766		6,317		n/a		2,782		22,083		24,865		8,052		1922	2003	various
103-107 Main Street, Westport, CT	retail	—		1,243		7,043		360		n/a		1,260		7,386		8,646		2,754		1900	2006	various
Property for development at the Transportation Hub in Stamford, CT	land	—		4,542		—		8,071		—		12,508		105		12,613		—		n/a	n/a	n/a
Totals		$	775,929	$	199,287	$	918,018	$	2,016,661	$	—	$	209,162	$	2,924,804	$	3,133,966	$	941,612

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, 2020, 2019 and 2018 are as follows:

	2020		2019		2018
Balance, beginning of year	$	3,109,433	$	2,884,486	$	2,667,655
Acquisition of new properties	—		—		—
Improvements	104,060		255,924		256,496
Disposals	(79,527)		(30,977)		(39,665)
Balance, end of year	$	3,133,966	$	3,109,433	$	2,884,486

    The unaudited aggregate cost of investment properties for federal income tax purposes as of December 31, 2020 was $2.8 billion.

2. Reconciliation of Accumulated Depreciation

    The changes in our accumulated depreciation for the years ended December 31, 2020, 2019 and 2018 are as follows:

	2020		2019		2018
Balance, beginning of year	$	862,534	$	747,304	$	656,900
Depreciation expense	158,605		146,207		130,069
Disposals	(79,527)		(30,977)		(39,665)
Balance, end of year	$	941,612	$	862,534	$	747,304

    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