Empire State Realty Seeing “Very Substantial” Mark-to-Market Rent Increases

John Kessler, president and COO of Empire State Realty Trust, Inc. (NYSE: ESRT), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.

The New York office market remains competitive, according to Kessler. The high level of interest in the sector from private equity and other sources has kept prices stable and cap rates low, he said.