Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

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 12/31/21
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	$	128,857	n/a		$	13,630	$	373,318	$	386,948	$	86,606	1954	2014	various
1400 Broadway, New York, NY	office / retail	—		—		96,338		94,057		n/a		—		190,395		190,395		57,716		1930	2014	various
1333 Broadway, New York, NY	office / retail	158,760		91,435		120,190		13,534		n/a		91,435		133,724		225,159		34,132		1915	2013	various
1350 Broadway, New York, NY	office / retail	—		—		102,518		41,035		n/a		—		143,553		143,553		44,713		1929	2013	various
250 West 57th Street, New York, NY	office/ retail	174,422		2,117		5,041		168,501		n/a		2,117		173,542		175,659		58,624		1921	1953	various
501 Seventh Avenue, New York, NY	office/ retail	—		1,100		2,600		99,073		n/a		1,100		101,673		102,773		49,386		1923	1950	various
1359 Broadway, New York, NY	office/ retail	—		1,233		1,809		70,054		n/a		1,233		71,863		73,096		35,619		1924	1953	various
350 Fifth Avenue (Empire State Building), New York, NY	office/ retail	—		21,551		38,934		983,452		n/a		21,551		1,022,386		1,043,937		339,787		1930	2013	various
One Grand Central Place, New York, NY	office/ retail	—		7,240		17,490		289,760		n/a		7,222		307,268		314,490		139,061		1930	1954	various
First Stamford Place, Stamford, CT	office	179,094		22,952		122,739		75,313		n/a		24,861		196,143		221,004		97,356		1986	2001	various
One Station Place, Stamford, CT (Metro Center)	office	84,931		5,313		28,602		28,996		n/a		5,313		57,598		62,911		34,344		1987	1984	various
383 Main Avenue, Norwalk, CT (1)	office	29,692		2,262		12,820		6,582		n/a		1,679		19,985		21,664		—		1985	1994	various
500 Mamaroneck Avenue, Harrison, NY	office	—		4,571		25,915		27,053		n/a		4,571		52,968		57,539		28,856		1987	1999	various
10 Bank Street, White Plains, NY	office	30,719		5,612		31,803		20,191		n/a		5,612		51,994		57,606		26,841		1989	1999	various
10 Union Square, New York, NY	retail	49,486		5,003		12,866		3,805		n/a		5,003		16,671		21,674		9,121		1987	1996	various
1542 Third Avenue, New York, NY	retail	29,656		2,239		15,266		473		n/a		2,239		15,739		17,978		9,084		1991	1999	various
1010 Third Avenue, New York, NY and 77 West 55th Street, New York, NY	retail	36,250		4,462		15,819		1,301		n/a		4,462		17,120		21,582		9,984		1962	1998	various
69-97 Main Street, Westport, CT	retail	—		2,782		15,766		6,595		n/a		2,782		22,361		25,143		8,740		1922	2003	various
103-107 Main Street, Westport, CT	retail	—		1,243		7,043		371		n/a		1,260		7,397		8,657		2,968		1900	2006	various
345 E 94th Street NY (2)	Multifamily	49,421		44,228		55,766		19		n/a		44,228		55,785		100,013		—		2000	2021	various
Victory 561 10th Ave NY (2)	Multifamily	126,338		91,437		124,997		28		n/a		91,437		125,025		216,462		—		2004	2021	various
Property for development at the Transportation Hub in Stamford, CT	land	—		4,542		—		8,132		n/a		12,674		—		12,674		—		n/a	n/a	n/a
Totals		$	948,769	$	334,952	$	1,098,783	$	2,067,182	$	—	$	344,409	$	3,156,508	$	3,500,917	$	1,072,938

1 Property written down to fair value in December 31, 2021.

2 Property acquired on December 22, 2021.

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, 2021, 2020 and 2019 are as follows:

	2021		2020		2019
Balance, beginning of year	$	3,133,966	$	3,109,433	$	2,884,486
Acquisition of new properties	316,428		—		—
Improvements	89,426		104,060		255,924
Disposals	(38,903)		(79,527)		(30,977)
Balance, end of year	$	3,500,917	$	3,133,966	$	3,109,433

    The unaudited aggregate cost of investment properties for federal income tax purposes as of December 31, 2021 was $3.3 billion.

2. Reconciliation of Accumulated Depreciation

    The changes in our accumulated depreciation for the years ended December 31, 2021, 2020 and 2019 are as follows:

	2021		2020		2019
Balance, beginning of year	$	941,612	$	862,534	$	747,304
Depreciation expense	162,667		158,605		146,207
Disposals	(31,341)		(79,527)		(30,977)
Balance, end of year	$	1,072,938	$	941,612	$	862,534

    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 or useful life
Building improvements	39 years or useful life
Tenant improvements	Term of related lease