Empire State Realty Trust Inc. (NYSE: ESRT) acquired a retail property at 41-55 North 6th Street in Williamsburg, Brooklyn for $46 million at the end of the first quarter, according to a company statement.

The approximately 22,000 square foot property is currently vacant and located between Kent and Wythe Avenues. The acquisition adds to the company's existing 102,000 square foot retail portfolio along North 6th Street.

The purchase, combined with the company's acquisition of 86-90 North 6th Street in mid-2025, completed the redeployment of investment capacity from the December 2025 disposition of Metro Center without recognizing a taxable gain. The company stated these transactions represent the final execution of its strategy to recycle capital from suburban assets into New York City properties.

Empire State Realty Trust also closed on a $53.5 million mortgage for 10 Union Square East, a 58,000 square foot retail asset anchored by a long-term lease with Target Corp. The 10-year interest-only loan carries a fixed interest rate of 5.3% and replaces a $50.0 million loan that matured on April 1, 2026.

Jones Lang LaSalle Inc. (NYSE: JLL) represented the seller of the Brooklyn property through brokers Ethan Stanton, Michael Mazzara and Brendan Maddigan. Newmark Group Inc. (NASDAQ: NMRK) arranged the Union Square East financing through Jordan Roeschlaub, Nick Scribani, Tim Polglase, and Niv Shahmoon.

As of December 31, 2025, Empire State Realty Trust's portfolio comprised approximately 7.9 million rentable square feet of office space, 0.8 million rentable square feet of retail space and 743 residential units.