ESRT: A Discounted Gem Amidst Office Property Acquisitions

Wednesday, Nov 5, 2025 9:06 am ET1min read

Empire State Realty Trust (ESRT) is trading at a discount to the takeout multiple of Rithm Capital's (RITM) purchase of Paramount Group (PGRE). ESRT is a Manhattan-focused office property owner, and its valuation is lower than RITM's acquisition of PGRE. This suggests that ESRT might be undervalued, making it a potential investment opportunity.

ESRT: A Discounted Gem Amidst Office Property Acquisitions

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