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Nick Tristan

Research Analyst at Citi

Nick Tristan is a Research Analyst at Citi, specializing in equity research with a focus on real estate. He has covered companies including Empire State Realty Trust, actively participating by asking questions in earnings calls. Limited public information is available on his performance metrics, career timeline, previous experience, or professional credentials.

Nick Tristan's questions to Empire State Realty Trust (ESRT) leadership

Question · Q4 2025

Nick Tristan asked about the competitive landscape for the observatory and the economic and tourism outlook embedded in the 2026 guidance.

Answer

Chairman and CEO Tony Malkin explained a shift in observatory visitors to over 50% domestic, with increased direct retail purchases and a decline in international pass programs. He noted strong direct marketing results and competitive weakness for Edge and One World Trade Center. CFO and Chief Accounting Officer Steve Horn added that the 2026 guidance of $87M-$92M NOI reflects a range of outcomes, with a flattish midpoint.

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