Investments in Non-controlled Entities

We had no investment in in non-controlled entities as of December 31, 2014 and 2013.

On October 7, 2013, as part of the Offering and formation transactions, we acquired the assets and liabilities held by the four non-controlled entities (see discussion in Note 3). The investments in non-controlled entities consisted of the following for the year ended December 31, 2012 and for the period January 1, 2013 through October 6, 2013:



Entity	Property	Nominal % Ownership
Empire State Building Company, L.L.C.	350 Fifth Ave, New York, NY	23.750	%
1333 Broadway Associates, L.L.C.	1333 Broadway, New York, NY	50.000	%
1350 Broadway Associates, L.L.C.	1350 Broadway, New York, NY	50.000	%
501 Seventh Avenue Associates, L.L.C.	501 Seventh Ave, New York, NY	20.469	%

Empire State Building Company, L.L.C. was the operating lessee of the property at 350 Fifth Avenue. The land and fee owner, Empire State Building Associates L.L.C., was a predecessor controlled entity whose operations are included in our predecessor's combined financial statements.

1333 Broadway Associates, L.L.C. owned the fee and leasehold positions at the same address.

1350 Broadway Associates, L.L.C. was the operating lessee of the property at the same address.

501 Seventh Avenue Associates L.L.C. was the operating lessee of the property at the same address. The fee owner, Seventh Avenue Building Associates L.L.C., was a predecessor controlled entity whose operations are included in our predecessor's combined financial statements.

Our predecessor's share of income from these entities may have exceeded nominal ownership percentages based on the achievement of certain income thresholds as set forth in the relevant partnership agreements.

The following reflects summarized financial information of the non-controlled entities for the period January 1, 2013 through October 6, 2013 and for the year ended December 31, 2012 (amounts in thousands):



	Period from January 1, 2013 to October 6, 2013
Statements of Operations	Empire State Building Co.		1333 Broadway Associates		1350 Broadway Associates		501 Seventh Avenue Associates		Total
Revenue:
Rental revenue and other	$	101,496	$	11,711	$	16,439	$	13,991	$	143,637
Observatory revenue	76,687		—		—		—		76,687
Total revenue	178,183		11,711		16,439		13,991		220,324
Expenses:
Operating expenses—rental	89,670		5,766		7,989		10,830		114,255
Operating expenses—overage rent	10,894		—		—		106		11,000
Operating expenses—observatory	17,150		—		—		—		17,150
Interest	—		3,620		2,461		—		6,081
Depreciation and amortization	10,997		2,186		3,264		1,127		17,574
Total expenses	128,711		11,572		13,714		12,063		166,060
Net income	$	49,472	$	139	$	2,725	$	1,928	$	54,264
Our predecessor's share of equity in net income of non-controlled entities	$	13,467	$	70	$	1,179	$	159	$	14,875



	For the year ended December 31, 2012
Statements of Operations	Empire State Building Co.		1333 Broadway Associates		1350 Broadway Associates		501 Seventh Avenue Associates		Total
Revenue:
Rental revenue and other	$	133,666	$	14,539	$	21,275	$	18,827	$	188,307
Observatory revenue	91,870		—		—		—		91,870
Total revenue	225,536		14,539		21,275		18,827		280,177
Expenses:
Operating expenses—rental	119,482		7,528		10,667		13,101		150,778
Operating expenses—overage rent	24,199		—		—		2,497		26,696
Operating expenses—observatory	20,709		—		—		—		20,709
Interest	—		4,748		2,993		—		7,741
Depreciation and amortization	13,615		1,112		3,489		1,496		19,712
Total expenses	178,005		13,388		17,149		17,094		225,636
Net income	$	47,531	$	1,151	$	4,126	$	1,733	$	54,541
Our predecessor's share of equity in net income of non-controlled entities	$	11,015	$	576	$	2,063	$	694	$	14,348