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Schedule III - Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2013
SEC Schedule III, 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 12/31/13
 
 
 
 
 
 
Development
 
Type
 
Encumbrances
 
Land
 
Building &
Improvements
 
Improvements
 
Carrying
Costs
 
Land
 
Buildings &
Improvements
 
Total
 
Accumulated
Depreciation
 
Date of
Construction
 
Date
Acquired
 
Life on
which
depreciation
in latest
income
statement is
computed
1333 Broadway, New York, NY
 
office /
retail
 
78,121

 
91,435

 
120,190

 
81

 
n/a

 
91,435

 
120,271

 
211,706

 
(927
)
 
1915
 
2013
 
various
1350 Broadway, New York, NY
 
office /
retail
 
56,848

 
—

 
102,518

 
1,345

 
n/a

 
—

 
103,863

 
103,863

 
(925
)
 
1929
 
2013
 
various
250 West 57th Street, New York, NY
 
office/
retail
 
57,873

 
2,117

 
5,041

 
67,432

 
n/a

 
2,117

 
72,473

 
74,590

 
(19,775
)
 
1921
 
1953
 
various
501 Seventh Avenue, New York, NY
 
office/
retail
 
45,925

 
1,100

 
2,600

 
75,390

 
n/a

 
1,100

 
77,990

 
79,090

 
(27,227
)
 
1923
 
1950
 
various
1359 Broadway, New York, NY
 
office/
retail
 
45,023

 
1,233

 
1,809

 
43,532

 
n/a

 
1,233

 
45,341

 
46,574

 
(15,523
)
 
1924
 
1953
 
various
350 Fifth Avenue (Empire State Building), New York, NY
 
office/
retail
 
325,000

 
21,551

 
38,934

 
471,196

 
n/a

 
21,551

 
510,130

 
531,681

 
(35,264
)
 
1930
 
2013
 
various
One Grand Central Place,
New York, NY
 
office/
retail
 
92,989

 
7,240

 
17,490

 
137,599

 
n/a

 
7,240

 
155,089

 
162,329

 
(57,124
)
 
1930
 
1954
 
various
First Stamford Place, Stamford, CT
 
office
 
245,629

 
22,952

 
122,739

 
36,964

 
n/a

 
24,861

 
157,794

 
182,655

 
(52,803
)
 
1986
 
2001
 
various
One Station Place, Stamford, CT (Metro Center)
 
office
 
96,158

 
5,313

 
28,602

 
9,860

 
n/a

 
5,313

 
38,462

 
43,775

 
(23,660
)
 
1987
 
1984
 
various
383 Main Avenue, Norwalk, CT
 
office
 
30,403

 
2,262

 
12,820

 
9,320

 
n/a

 
2,262

 
22,140

 
24,402

 
(8,573
)
 
1985
 
1994
 
various
500 Mamaroneck Avenue, Harrison, NY
 
office
 
32,620

 
4,571

 
25,915

 
15,385

 
n/a

 
4,571

 
41,300

 
45,871

 
(15,344
)
 
1987
 
1999
 
various
10 Bank Street, White Plains, NY
 
office
 
33,444

 
5,612

 
31,803

 
8,681

 
n/a

 
5,612

 
40,484

 
46,096

 
(14,448
)
 
1989
 
1999
 
various
10 Union Square, New York, NY
 
retail
 
20,972

 
5,003

 
12,866

 
1,548

 
n/a

 
5,003

 
14,414

 
19,417

 
(5,798
)
 
1987
 
1996
 
various
1542 Third Avenue, New York, NY
 
retail
 
19,011

 
2,239

 
15,266

 
102

 
n/a

 
2,239

 
15,368

 
17,607

 
(5,641
)
 
1991
 
1999
 
various
1010 Third Avenue, New York, NY and 77 West 55th Street, New York, NY
 
retail
 
28,096

 
4,462

 
15,817

 
778

 
n/a

 
4,462

 
16,595

 
21,057

 
(6,453
)
 
1962
 
1998
 
various
69-97 Main Street, Westport, CT
 
retail
 
—

 
2,782

 
15,766

 
918

 
n/a

 
2,782

 
16,684

 
19,466

 
(4,543
)
 
1922
 
2003
 
various
103-107 Main Street, Westport, CT
 
retail
 
—

 
1,243

 
7,043

 
(41
)
 
n/a

 
1,243

 
7,002

 
8,245

 
(1,323
)
 
1900
 
2006
 
various
Property for development at the Transportation Hub in Stamford CT
 
land
 
—

 
4,542

 
—

 
6,457

 
—

 
4,542

 
6,457

 
10,999

 
—

 
na
 
na
 
na
Totals
 
 
 
1,208,112

 
185,657

 
577,219

 
886,547

 
—

 
187,566

 
1,461,857

 
1,649,423

 
(295,351
)
 
 
 
 
 
 
_______________
 







































Empire State Realty Trust, Inc. and Empire State Realty Trust, Inc. Predecessor
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, 2013, 2012 and 2011 are as follows:
 
 
2013
 
2012
 
2011
Balance, beginning of year
$
939,330

 
$
856,151

 
$
796,008

Acquisition of new properties
607,779

 
—

 
—

Improvements
130,346

 
85,409

 
70,821

Distribution of real property to owners prior to the formation transactions
(16,345
)
 
—

 
—

Disposals
(11,687
)
 
(2,230
)
 
(10,678
)
Balance, end of year
$
1,649,423

 
$
939,330

 
$
856,151

The unaudited aggregate cost of investment properties for federal income tax purposes as of December 31, 2013 was $1,212,869.
2. Reconciliation of Accumulated Depreciation
The changes in our accumulated depreciation for the years ended December 31, 2013, 2012 and 2011 are as follows:
 
 
 
2013
 
2012
 
2011
Balance, beginning of year
 
$
257,091

 
$
224,019

 
$
205,542

Depreciation expense
 
49,947

 
35,302

 
29,155

Disposals
 
(11,687
)
 
(2,230
)
 
(10,678
)
Balance, end of year
 
$
295,351

 
$
257,091

 
$
224,019

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