Acquisitions Acquisitions

3 Months Ended

Mar. 31, 2015

Business Combinations [Abstract]

Acquisitions

Acquisitions

On July 15, 2014, we acquired the ground and operating lease at 112 West 34th Street (and the fee title to 122 West 34th Street) for $423.6 million, consisting of $87.7 million by assumption of existing mortgage debt, $106.9 million in cash and $229.0 million in shares of Class A and Class B common stock and Series PR OP units. In connection with this transaction, we issued 1,217,685 shares of Class A common stock and 77,945 shares of Class B common stock at a share price of $16.65 and 12,457,379 Series PR OP Units at a unit price of $16.65.

On July 15, 2014, we acquired the ground lease at 1400 Broadway for $310.0 million, consisting of $80.0 million by assumption of existing mortgage debt, $79.7 million in cash and $150.3 million in shares of Class A and Class B common stock and Series PR OP units. In connection with this transaction, we issued 1,338,488 shares of Class A common stock and 32,452 shares of Class B common stock at a share price of $16.65 and 7,658,516 Series PR OP Units at a unit price of $16.65.

The following summary of selected unaudited pro forma results of operations presents information as if the acquisition had occurred on January 1, 2013. The unaudited pro forma information is provided for informational purposes only and is not indicative of results that would have occurred or which may occur in the future (amounts in thousands, except per share amounts):

	Three months ended March 31, 2014
Total revenues	$	157,692
Net income	9,197
Net income attributable to Empire State Realty Trust, Inc.	3,375
Net income attributable to Empire State Realty Trust, Inc. per share - basic and diluted	$	0.03

The following table summarizes the revenues and earnings related to the two properties since the acquisition date that are included in our condensed consolidated statements of income for the three months ended March 31, 2015 (amounts in thousands):

	Three months ended March 31, 2015
Total revenues	$	20,219
Operating expenses	21,365
Operating loss	(1,146		)
Net loss attributable to common stockholders	(1,047		)