Empire State Realty Trust Expands Lease with Gerson Lehrman Group, Faces Financial Challenges

Empire State Realty Trust (ESRT) expanded its lease with Gerson Lehrman Group, adding 18,230 square feet at One Grand Central Place. ESRT operates as a pure-play greater New York and Manhattan-focused REIT, owning iconic properties like the Empire State Building. However, the company faces financial challenges, including a low Altman Z-Score and high debt-to-equity ratio, indicating potential financial distress.