One Vanderbilt's Summit has surpassed the Empire State Building Observatory as the top-grossing observation deck in NYC after 95 years. According to filings by their publicly traded owners, Summit brought in $55.651 million in operating revenue for the first half of 2026, compared to the Empire State Building's $42.7 million over the same period. The change is attributed to increased competition from new observation decks and a decline in international travelers visiting NYC, who are a key source of revenue. Analyst John P. Kim notes that while the "observatory pie" is growing, it's affecting the Empire State Building the most due to its intense marketing efforts and high prices.
Written by the local model on 2026-08-28,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
One Vanderbilt's Summit has surpassed the Empire State Building Observatory as the most successful observation deck in NYC, ending a 95-year reign. According to financial filings by SL Green and Empire State Realty Trust, Summit brought in $55.651 million in revenue for the first half of 2026, outpacing $42.7 million generated by the Empire State Building Observatory over the same period. This marks a significant shift, as the Empire State Building's revenue has actually decreased from $57 million in 2025 to $42.7 million in 2026. The increased competition among observation decks, with six now operating compared to just two after 9/11, may be contributing to this change. Analyst John P. Kim of Bank of Montreal noted that Summit's revenue exceeded the Empire State Building Observatory's in both the fourth quarter of 2025 and for 2026 so far. This development could have implications for the use of third-party sightseeing passes, which bundle discounted admissions to observation decks.
Written for “Empire State Record Broken” on 2026-08-31,
grounded in this article and the 0 other(s) covering the same event.
Why this leaning score
This article does not take a side on a contested political
question, so it has no leaning score. That is an
answer rather than a gap: a match report or a rescue can be warmly
or critically written without being left or right, and scoring it
anyway is how approval of a subject gets recorded as a political
position.
No political leaning scored for article 3150 · logged 2026-08-28
By at least one major metric, One Vanderbilt’s Summit has overtaken the Empire State Building Observatory’s 95-year reign as king of the city’s sky-high viewing decks.
asserted
Summit → overtake → decks
Summit, just five years old, brought in more dough in the first half of this year than the iconic Empire State decks for the first time, according to filings by the buildings’ publicly traded owners.
uncertain
Summit → bring → owners
Summit’s $55.651 million operating revenue for the first six months of 2026 topped last year’s $53.541 million over the same period.
asserted
revenue → operate → period
The 3.9% increase was tucked into landlord SL Green’s supplement to its second-quarter earnings report.
asserted
increase → tuck → report
In comparison, Empire State Observatory revenue for the first half of 2026 plunged to $42.7 million from $57 million in the first half of 2025, according to Empire State Realty Trust’s second-quarter earnings report.
uncertain
revenue → plunge → report
“In fact, Summit revenue exceeded the Empire State Observatory in the fourth quarter of 2025 as well as in 2026 to date,” Manhattan-based Bank of Montreal analyst John P. Kim noted.
asserted
Kim → exceed → Montreal
The shocking change of fortune came as Manhattan observation decks face more competition — there are a half-dozen today, compared with only two after 9/11.
asserted
decks → come → 9/11
Moreover, the number of international travelers to the Big Apple — who comprise a large part of their business — has fallen by 8% since the pandemic.
asserted
who → comprise → pandemic
Privately held companies own four of Manhattan’s observation decks — Tishman Speyer’s Top of the Rock, Related’s Edge, the Port Authority and Durst’s One World Observatory and Jamestown’s just-opened Times Square Skywalk — and aren’t required to divulge financial results.
asserted
companies → hold → results
There’s also the city’s newly opened, 36th-floor Centre 360 atop the Municipal Building at 1 Centre St. — and it’s free, although tickets must be booked well in advance.
asserted
tickets → ’ → advance
“It’s the last thing that the pricey ones need,” a source said of the publicly funded competition.
asserted
source → ’ → competition
Kim, whose office overlooks the Skywalk, said: “The observatory pie is growing, but it’s affecting the Empire State Building the most.”
asserted
it → overlook → Building
He added that in the intensified struggle for visitors, “Everyone offers something new and different.”
asserted
Everyone → add → something
Summit is on One Vanderbilt’s 97th to 99th floors, while Empire State has viewing platforms on the 86th and 102nd floors.
asserted
State → have → floors
The latter have appeared in scores of movies, including “An Affair to Remember,” “The Producers,” “Sleepless in Seattle” and even “The Muppets Take Manhattan.”
asserted
Muppets → appear → Manhattan
The numbers of visitors can’t be extrapolated from revenue, because crazy-quilt admission prices vary wildly depending on which options customers choose.
asserted
customers → extrapolate → options
But Empire State Observatory’s net operating income plunged $12.4 million in the second quarter compared to $24.2 million the previous year, while the number of visitors fell 28% year-over-year.
asserted
number → plunge → year
Chief Executive Tony Malkin told investors his company began “a total re-evaluation of our observatory business model and execution early in the first quarter.”
asserted
company → tell → quarter
That could mean less reliance on third-party sightseeing passes that bundle discounted admissions.
uncertain
that → mean → admissions
The setback caused Empire State Realty Trust to write down $166 million in value attached to the observatory, which astonishingly accounts for nearly 25% of net operating income for the company’s entire, nearly 9 million square-foot office portfolio.
asserted
which → cause → portfolio
(In comparison, SL Green holds interests in over 30 million square feet of properties).
asserted
Green → hold → properties
The Empire State Observatory’s plight stands in contrast to the skyscraper’s 2.8 million square feet of offices, which are more than 96% leased at high rents.
asserted
which → stand → rents
Powerhouse talent agency UTA recently signed for over 100,000 square feet, as The Post first reported.
asserted
Post → sign → feet
