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MANHATTAN OFFICE MARKET SECOND QUARTER 2015
MANHATTAN OFFICE MARKET - CLASS A STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y
% PT.
CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE WTD.
AVG. RENTAL
RATE
TOTAL
WTD. AVG.
RENTAL RATE
MIDTOWN
319
180,400,310
16,727,152
-20.5%
13,955,840
2,771,312
7.7%
1.5%
9.3%
-2.3%
$82.85
$62.74
MIDTOWN SOUTH
35
17,283,499
726,910
-36.9%
615,747
111,163
3.6%
0.6%
4.2%
-2.5%
$79.12
$72.98
DOWNTOWN
49
52,803,752
6,711,255
14.2%
6,309,937
401,318
11.9%
0.8%
12.7%
1.0%
$62.83
403
250,487,561
24,165,317
-13.9%
20,881,524
3,283,793
8.3%
1.3%
9.6%
-1.6%
SUBMARKET
TOTALS
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
$81.14
7.1%
8,125,324
9.9%
$78.90
22.7%
558,051
-52.5%
$44.18
$62.26
15.1%
1,213,995
-50.7%
$76.69
$60.82
$75.83
7.2%
9,897,370
-10.3%
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE
DIRECT
ABSORPTION
RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
2,122,850
2,514,972
131,050
273,898
(595,012)
(554,728)
1,658,888
2,234,142
YEAR-TO-DATE
DIRECT
ABSORPTION
RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
10,029
(267,518)
MANHATTAN OFFICE MARKET - CLASS B STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y
% PT.
CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE
WTD. AVG.
RENTAL RATE
TOTAL
WTD. AVG.
RENTAL RATE
MIDTOWN
324
43,660,510
3,858,069
-16.1%
3,172,771
685,298
7.3%
1.6%
8.8%
-1.7%
$58.01
$49.02
$57.42
6.7%
1,867,503
17.2%
MIDTOWN SOUTH
189
29,913,001
1,981,414
-23.6%
1,716,880
264,534
5.7%
0.9%
6.6%
-2.2%
$69.43
$56.00
$69.06
10.8%
1,260,785
-24.7%
DOWNTOWN
54
26,839,119
1,781,363
-6.9%
1,458,857
322,506
5.4%
1.2%
6.6%
-0.5%
$46.72
$33.79
$44.82
17.7%
569,920
-48.9%
567
100,412,630
7,620,846
-16.3%
6,348,508
1,272,338
6.3%
1.3%
7.6%
-1.5%
$58.50
$46.61
$57.50
8.7%
3,698,208
-15.6%
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y
% PT.
CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE
WTD. AVG.
RENTAL RATE
TOTAL
WTD. AVG.
RENTAL RATE
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
SUBMARKET
TOTALS
330,324
451,053
(191,747)
(127,992)
148,606
55,543
YEAR-TO-DATE
DIRECT
ABSORPTION
RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
(51,608)
(18,172)
MANHATTAN OFFICE MARKET - CLASS C STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
MIDTOWN
148
15,677,466
748,413
-11.0%
682,944
65,469
4.4%
0.4%
4.8%
-0.5%
$48.00
$44.02
$47.83
18.3%
541,734
43.7%
MIDTOWN SOUTH
208
19,407,451
1,423,615
-16.0%
1,178,675
244,940
6.1%
1.3%
7.3%
-1.2%
$56.73
$59.51
$56.93
8.1%
1,023,727
20.0%
DOWNTOWN
56
8,188,800
580,055
-24.7%
566,218
13,837
6.9%
0.2%
7.1%
-1.9%
$44.77
$35.69
$44.55
21.9%
175,545
31.6%
412
43,273,717
2,752,083
-16.7%
2,427,837
324,246
5.6%
0.7%
6.4%
-1.1%
$51.48
$55.37
$51.85
13.2%
1,741,006
27.6%
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
SUBMARKET
TOTALS
437
(9,108)
104,921
109,695
53,750
82,415
YEAR-TO-DATE
DIRECT
ABSORPTION
RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
2,081,271
2,229,282
MANHATTAN OFFICE MARKET - OVERALL STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y
% PT.
CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE
WTD. AVG.
RENTAL RATE
TOTAL
WTD. AVG.
RENTAL RATE
MIDTOWN
791
239,738,286
21,333,634
-19.4%
17,811,555
3,522,079
7.4%
1.5%
8.9%
-2.1%
$77.82
$60.72
$76.45
7.9%
10,534,561
12.5%
MIDTOWN SOUTH
432
66,603,951
4,131,939
-24.0%
3,511,302
620,637
5.3%
0.9%
6.2%
-2.0%
$67.16
$60.34
$66.86
11.1%
2,842,563
-23.2%
DOWNTOWN
159
87,831,671
9,072,673
6.0%
8,335,012
737,661
9.5%
0.8%
10.3%
0.3%
$59.26
$38.78
$58.25
18.4%
1,959,460
-47.2%
1382
394,173,908
34,538,246
-14.7%
29,657,869
4,880,377
7.5%
1.2%
8.8%
-1.5%
$71.34
$57.36
$70.52
8.8%
15,336,584
-8.6%
SUBMARKET
TOTALS
NOTE: Only space that can be occupied within six months from the end of the current month is included in statistics.
Source: Cushman and Wakefield Research Services
461,811
715,843
(681,838)
(573,025)
1,861,244
2,372,100
MIDTOWN NEW YORK OFFICE MARKET - SECOND QUARTER 2015
MIDTOWN OFFICE MARKET - CLASS A STATISTICAL SUMMARY
SUBMARKET
NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y
% PT. CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE WTD.
AVG. RENTAL
RATE
TOTAL
WTD. AVG.
RENTAL RATE
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE
DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
Murray Hill
10
6,899,203
476,417
-52.1%
406,499
69,918
5.9%
1.0%
6.9%
-7.5%
$69.61
$0.00
$69.61
17.1%
359,440
116.2%
83,760
119,947
Grand Central
68
36,206,791
4,178,503
-21.1%
3,777,343
401,160
10.4%
1.1%
11.5%
-2.9%
$69.29
$58.63
$69.04
9.9%
1,574,937
36.1%
236,257
228,595
United Nations
1,521,968
20,491
728.6%
3,825
16,666
0.3%
1.1%
1.3%
1.2%
$50.00
$67.00
$63.83
41.8%
-100.0%
-3,825
-20,491
East Side
37
17,353,752
919,458
-30.2%
805,531
113,927
4.6%
0.7%
5.3%
-2.1%
$71.70
$56.00
$71.24
8.6%
842,056
-2.5%
250,184
282,901
Park Avenue
30
21,842,808
1,979,043
-38.5%
1,529,451
449,592
7.0%
2.1%
9.1%
-5.8%
$93.11
$73.36
$90.16
7.8%
1,581,979
181.8%
795,721
1,209,646
Madison/ Fifth
73
21,069,325
2,658,781
-15.9%
2,425,478
233,303
11.5%
1.1%
12.6%
-2.5%
$106.87
$64.24
$105.44
3.4%
880,717
-8.1%
343,473
458,853
6 Ave/ Rock Cntr
41
37,853,216
2,708,914
-30.5%
2,062,826
646,088
5.4%
1.7%
7.2%
-3.0%
$86.44
$63.44
$81.99
0.6%
897,735
-47.6%
245,583
364,622
Westside
34
23,809,400
2,927,476
64.8%
2,362,707
564,769
9.9%
2.4%
12.3%
4.8%
$79.26
$48.73
$78.12
8.4%
601,019
-57.9%
-43,478
-314,313
Penn Station
6,520,136
195,177
-55.7%
112,378
82,799
1.7%
1.3%
3.0%
-3.8%
$63.69
$56.98
$61.44
6.0%
902,196
174.6%
24,915
69,852
Times Square South
12
7,323,711
662,892
-28.4%
469,802
193,090
6.4%
2.6%
9.1%
-3.6%
$80.08
$55.00
$73.07
-4.5%
485,245
136.6%
190,260
115,360
319
180,400,310
16,727,152
-20.5%
13,955,840
2,771,312
7.7%
1.5%
9.3%
-2.3%
$82.85
$62.74
$81.14
7.1%
8,125,324
9.9%
2,122,850
2,514,972
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y
% PT. CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE WTD.
AVG. RENTAL
RATE
TOTAL
WTD. AVG.
RENTAL RATE
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE
DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
Totals
MIDTOWN OFFICE MARKET - CLASS B STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Murray Hill
51
6,396,473
390,813
4.1%
334,009
56,804
5.2%
0.9%
6.1%
0.2%
$52.48
$51.79
$52.36
13.8%
133,467
-52.2%
-19,082
-12,270
Grand Central
63
6,961,469
533,208
-24.0%
490,079
43,129
7.0%
0.6%
7.7%
-2.4%
$57.01
$41.00
$56.88
8.1%
251,272
-22.4%
-55,858
-32,584
United Nations
810,198
26,688
N/A
26,688
3.3%
0.0%
3.3%
3.3%
$65.00
$0.00
$65.00
N/A
N/A
-17,688
-17,688
East Side
21
1,076,723
35,277
-50.6%
30,777
4,500
2.9%
0.4%
3.3%
-3.2%
$58.34
$48.00
$56.95
0.3%
38,170
257.7%
23,165
46,385
Park Avenue
N/A
0.0%
0.0%
0.0%
0.0%
$0.00
$0.00
$0.00
N/A
N/A
Madison/ Fifth
47
3,073,031
286,017
-12.2%
255,730
30,287
8.3%
1.0%
9.3%
-1.3%
$61.19
$0.00
$61.19
-4.4%
84,349
-38.7%
-24,849
-42,594
6 Ave/ Rock Cntr
24
1,679,381
131,910
-7.0%
106,812
25,098
6.4%
1.5%
7.9%
-0.6%
$56.28
$50.48
$55.31
-0.9%
39,616
-13.1%
-16,791
-23,899
Westside
31
4,040,212
235,615
-30.7%
175,606
60,009
4.3%
1.5%
5.8%
-2.6%
$59.45
$45.00
$56.96
5.7%
46,978
3.7%
102,537
90,666
Penn Station
18
5,294,473
410,416
-62.1%
365,777
44,639
6.9%
0.8%
7.8%
-12.7%
$65.21
$50.95
$63.63
-3.0%
485,237
52.9%
350,510
322,366
SUBMARKET
Times Square South

Totals
62
14,328,550
1,808,125
16.1%
1,387,293
420,832
9.7%
2.9%
12.6%
1.7%
$56.86
$46.22
$56.51
18.8%
788,414
81.7%
-331,915
-597,900
324
43,660,510
3,858,069
-16.1%
3,172,771
685,298
7.3%
1.6%
8.8%
-1.7%
$58.01
$49.02
$57.42
6.7%
1,867,503
17.2%
10,029
-267,518
MIDTOWN NEW YORK OFFICE MARKET - SECOND QUARTER 2015
MIDTOWN OFFICE MARKET - CLASS C STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y
% PT. CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE WTD.
AVG. RENTAL
RATE
TOTAL
WTD. AVG.
RENTAL RATE
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE
DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
Murray Hill
22
1,070,823
146,788
48.7%
135,192
11,596
12.6%
1.1%
13.7%
4.5%
$53.65
$0.00
$53.65
14.4%
34,970
10.4%
-27,237
-32,233
Grand Central
272,576
N/A
0.0%
0.0%
0.0%
0.0%
$0.00
$0.00
$0.00
N/A
N/A
United Nations
N/A
0.0%
0.0%
0.0%
0.0%
$0.00
$0.00
$0.00
N/A
N/A
East Side
43,000
4,500
N/A
4,500
10.5%
0.0%
10.5%
10.5%
$37.00
$0.00
$37.00
N/A
N/A
Park Avenue
N/A
0.0%
0.0%
0.0%
0.0%
$0.00
$0.00
$0.00
N/A
N/A
Madison/ Fifth
N/A
0.0%
0.0%
0.0%
0.0%
$0.00
$0.00
$0.00
N/A
N/A
6 Ave/ Rock Cntr
368,885
15,682
54.3%
15,682
4.3%
0.0%
4.3%
1.5%
$0.00
$0.00
$0.00
-100.0%
-100.0%
-9,893
-9,893
Westside
20
2,239,389
133,396
-32.2%
130,046
3,350
5.8%
0.1%
6.0%
-2.3%
$42.76
$0.00
$42.76
15.1%
19,313
-67.1%
-5,840
-9,190
Penn Station
20
2,226,447
50,849
45.5%
50,849
2.3%
0.0%
2.3%
0.7%
$43.46
$0.00
$43.46
8.7%
43,207
31.9%
6,373
10,673
SUBMARKET
Times Square South

Totals
72
9,456,346
397,198
-20.7%
346,675
50,523
3.7%
0.5%
4.2%
-1.1%
$48.21
$44.02
$47.89
18.2%
444,244
93.2%
-15,011
22,471
148
15,677,466
748,413
-11.0%
682,944
65,469
4.4%
0.4%
4.8%
-0.5%
$48.00
$44.02
$47.83
18.3%
541,734
43.7%
-51,608
-18,172
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y
% PT. CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE WTD.
AVG. RENTAL
RATE
TOTAL
WTD. AVG.
RENTAL RATE
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE
DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
MIDTOWN OFFICE MARKET - OVERALL STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
Murray Hill
83
14,366,499
1,014,018
-31.0%
875,700
138,318
6.1%
1.0%
7.1%
-3.2%
$61.85
$51.79
$61.26
12.9%
527,877
10.6%
37,441
75,444
Grand Central
136
43,440,836
4,711,711
-21.4%
4,267,422
444,289
9.8%
1.0%
10.8%
-2.8%
$68.29
$58.13
$68.06
10.0%
1,826,209
23.3%
180,399
196,011
United Nations
15
2,332,166
47,179
1807.8%
30,513
16,666
1.3%
0.7%
2.0%
1.9%
$61.26
$67.00
$64.25
42.8%
-100.0%
-21,513
-38,179
East Side
60
18,473,475
959,235
-31.0%
840,808
118,427
4.6%
0.6%
5.2%
-2.2%
$70.51
$53.90
$69.90
7.5%
880,226
0.7%
273,349
329,286
Park Avenue
30
21,842,808
1,979,043
-38.5%
1,529,451
449,592
7.0%
2.1%
9.1%
-5.8%
$93.11
$73.36
$90.16
7.8%
1,581,979
181.8%
795,721
1,209,646
Madison/ Fifth
120
24,142,356
2,944,798
-15.6%
2,681,208
263,590
11.1%
1.1%
12.2%
-2.3%
$101.96
$64.24
$100.82
2.0%
965,066
-11.9%
318,624
416,259
6 Ave/ Rock Cntr
72
39,901,482
2,856,506
-29.4%
2,185,320
671,186
5.5%
1.7%
7.2%
-2.8%
$85.18
$62.99
$80.91
1.0%
937,351
-47.4%
218,899
330,830
Westside
85
30,089,001
3,296,487
42.5%
2,668,359
628,128
8.9%
2.1%
11.0%
3.3%
$77.22
$47.93
$75.95
12.8%
667,310
-56.4%
53,219
-232,837
Penn Station
44
14,041,056
656,442
-57.9%
529,004
127,438
3.8%
0.9%
4.7%
-6.4%
$62.15
$54.31
$60.91
-3.2%
1,430,640
110.8%
381,798
402,891
Times Square South
146
31,108,607
2,868,215
-3.9%
2,203,770
664,445
7.1%
2.1%
9.2%
-0.4%
$60.17
$52.05
$59.33
8.8%
1,717,903
97.7%
-156,666
-460,069
791
239,738,286
21,333,634
-19.4%
17,811,555
3,522,079
7.4%
1.5%
8.9%
-2.1%
$77.82
$60.72
$76.45
7.9%
10,534,561
12.5%
2,081,271
2,229,282
SUBMARKET
Totals
MIDTOWN SOUTH NEW YORK OFFICE MARKET SECOND QUARTER 2015

MIDTOWN SOUTH OFFICE MARKET - CLASS A STATISTICAL SUMMARY
SUBMARKET
NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y % PT.
CHANGE
DIRECT
SUBLEASE
TOTAL
WTD. AVG.
WTD. AVG.
WTD. AVG.
RENTAL RATE RENTAL RATE RENTAL RATE
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE
DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
SoHo
23,600
N/A
0.0%
0.0%
0.0%
-99.6%
$0.00
$0.00
$0.00
N/A
N/A
Greenwich/NoHo
1,339,052
N/A
0.0%
0.0%
0.0%
-6.9%
$0.00
$0.00
$0.00
N/A
134,843
-49.7%
45,577
54,845
Madison/Union Square
19
10,398,329
585,842
3.6%
482,479
103,363
4.6%
1.0%
5.6%
0.2%
$82.45
$41.00
$81.38
72.5%
92,266
-88.2%
13,606
(47,920)
Hudson Sq./W. Village
10
2,734,518
141,068
-70.0%
133,268
7,800
4.9%
0.3%
5.2%
-12.1%
$70.38
$107.00
$72.62
19.2%
265,274
258.8%
71,867
266,973
Chelsea
Totals
2,788,000
N/A
0.0%
0.0%
0.0%
0.0%
$0.00
$0.00
$0.00
N/A
65,668
26.4%
35
17,283,499
726,910
-36.9%
615,747
111,163
3.6%
0.6%
4.2%
-2.5%
$79.12
$72.98
$78.90
22.7%
558,051
-52.5%
131,050
273,898
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y % PT.
CHANGE
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE
DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
(17,691)
MIDTOWN SOUTH OFFICE MARKET - CLASS B STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SoHo
14
1,543,134
223,713
405.2%
218,713
5,000
14.2%
0.3%
14.5%
10.9%
$85.00
$0.00
$85.00
59.2%
78,395
610.2%
(47,281)
Greenwich/NoHo
17
2,210,115
83,419
-32.6%
67,789
15,630
3.1%
0.7%
3.8%
-1.8%
$67.84
$0.00
$67.84
21.4%
37,703
78.9%
4,390
(11,240)
123
16,243,040
1,146,639
-34.6%
985,746
160,893
6.1%
1.0%
7.1%
-3.8%
$68.51
$56.38
$68.16
8.2%
873,937
-22.0%
399,059
542,679
11
3,348,220
236,378
325.5%
174,118
62,260
5.2%
1.9%
7.1%
5.4%
$75.48
$0.00
$75.48
24.2%
45,083
17.1%
(124,309)
(186,569)
Chelsea
24
6,568,492
291,265
-52.9%
270,514
20,751
4.1%
0.3%
4.4%
-5.0%
$67.44
$55.00
$66.48
5.3%
225,667
-53.4%
98,465
123,874
189
29,913,001
1,981,414
-23.6%
1,716,880
264,534
5.7%
0.9%
6.6%
-2.2%
$69.43
$56.00
$69.06
10.8%
1,260,785
-24.7%
330,324
451,053
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE
DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
(40,560)
SUBMARKET
Totals
DIRECT
SUBLEASE
TOTAL
WTD. AVG.
WTD. AVG.
WTD. AVG.
MIDTOWN SOUTH OFFICE MARKET - CLASS C STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y % PT.
CHANGE
SoHo
34
2,632,520
174,044
-29.1%
137,111
36,933
5.2%
1.4%
6.6%
-1.9%
$64.83
$0.00
$64.83
13.1%
38,645
-72.1%
(16,093)
Greenwich/NoHo
16
1,210,350
53,850
-62.6%
40,100
13,750
3.3%
1.1%
4.4%
-7.1%
$56.52
$0.00
$56.52
0.8%
130,335
162.8%
97,435
98,151
77
5,386,644
479,443
16.2%
353,736
125,707
6.6%
2.3%
8.9%
1.5%
$58.86
$58.88
$58.87
22.1%
336,902
49.4%
(58,551)
(101,801)
22
4,605,674
342,802
-14.7%
318,881
23,921
6.9%
0.5%
7.4%
-1.3%
$54.31
$86.00
$54.68
-9.9%
146,653
-51.0%
(131,063)
(102,296)
Chelsea
59
5,572,263
373,476
-23.7%
328,847
44,629
5.9%
0.8%
6.7%
-2.0%
$53.94
$0.00
$53.94
9.1%
371,192
163.8%
108,709
137,398
208
19,407,451
1,423,615
-16.0%
1,178,675
244,940
6.1%
1.3%
7.3%
-1.2%
$56.73
$59.51
$56.93
8.1%
1,023,727
20.0%
437
(9,108)
Y-o-Y
% CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y % PT.
CHANGE
Y-o-Y
% CHANGE
YEAR-TO-DATE
LEASING ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE
DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL
ABSORPTION RATE
SUBMARKET
Totals
DIRECT
SUBLEASE
TOTAL
WTD. AVG.
WTD. AVG.
WTD. AVG.
MIDTOWN SOUTH OFFICE MARKET - OVERALL STATISTICAL SUMMARY

NUMBER OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
SoHo
49
4,199,254
397,757
26.9%
355,824
41,933
8.5%
1.0%
9.5%
1.9%
$68.00
$0.00
$68.00
20.9%
117,040
-21.7%
(63,374)
(58,251)
Greenwich/Noho
36
4,759,517
137,269
-61.8%
107,889
29,380
2.3%
0.6%
2.9%
-4.6%
$64.58
$0.00
$64.58
-12.1%
302,881
-10.7%
147,402
141,756
219
32,028,013
2,211,924
-19.0%
1,821,961
389,963
5.7%
1.2%
6.9%
-1.6%
$69.70
$56.59
$68.91
15.8%
1,303,105
-38.7%
354,114
392,958
43
10,688,412
720,248
-22.4%
626,267
93,981
5.9%
0.9%
6.7%
-2.0%
$67.65
$103.80
$68.47
12.6%
457,010
11.0%
(183,505)
(21,892)
Chelsea
85
14,928,755
664,741
-40.0%
599,361
65,380
4.0%
0.4%
4.5%
-2.9%
$57.87
$55.00
$57.80
2.0%
662,527
-2.1%
207,174
261,272
432
66,603,951
4,131,939
-24.0%
3,511,302
620,637
5.3%
0.9%
6.2%
-2.0%
$67.16
$60.34
$66.86
11.1%
2,842,563
-23.2%
461,811
715,843
SUBMARKET
Totals
DIRECT
SUBLEASE
TOTAL
WTD. AVG.
WTD. AVG.
WTD. AVG.
DOWNTOWN NEW YORK OFFICE MARKET- SECOND QUARTER 2015
DOWNTOWN OFFICE MARKET - CLASS A STATISTICAL SUMMARY

SUBMARKET
NUMBER
OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y %
CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y % PT.
CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE WTD.
AVG. RENTAL
RATE
TOTAL
WTD. AVG.
RENTAL RATE
Y-o-Y %
CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL ABSORPTION
RATE
City Hall
6,602,688
-100.0%
0.0%
0.0%
0.0%
-0.2%
$0.00
$0.00
$0.00
-100.0%
21,500
799.2%
World Trade
10
17,423,432
3,115,285
16.2%
2,952,568
162,717
16.9%
0.9%
17.9%
-0.7%
$72.62
$60.20
$72.42
11.8%
130,095
-90.7%
32,749
(33,536)
Financial West
663,315
47,399
-19.2%
47,399
7.1%
0.0%
7.1%
-1.7%
$51.08
$0.00
$51.08
6.0%
75,016
3.3%
(6,451)
20,710
Financial East
21
23,378,388
2,606,463
25.1%
2,372,123
234,340
10.1%
1.0%
11.1%
2.2%
$55.84
$38.90
$54.80
24.7%
812,720
5.3%
(633,193)
(570,946)
Insurance
Totals
4,735,929
942,108
-9.1%
937,847
4,261
19.8%
0.1%
19.9%
0.0%
$48.69
$0.00
$48.69
4.5%
174,664
-20.5%
11,883
29,044
49
52,803,752
6,711,255
14.2%
6,309,937
401,318
11.9%
0.8%
12.7%
1.0%
$62.83
$44.18
$62.26
15.1%
1,213,995
-50.7%
(595,012)
(554,728)
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y % PT.
CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE WTD.
AVG. RENTAL
RATE
TOTAL
WTD. AVG.
RENTAL RATE
Y-o-Y %
CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL ABSORPTION
RATE
(170,412)
DOWNTOWN OFFICE MARKET - CLASS B STATISTICAL SUMMARY

NUMBER
OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y %
CHANGE
DIRECT
AVAILABLE
SPACE
City Hall
3,192,893
195,389
218.7%
195,389
6.1%
0.0%
6.1%
4.2%
$56.77
$0.00
$56.77
32.0%
6,050
-84.0%
(170,412)
World Trade
3,618,654
129,679
-3.9%
18,550
111,129
0.5%
3.1%
3.6%
-0.1%
$51.00
$24.00
$34.57
9.9%
55,037
-30.1%
(4,650)
53,295
Financial West
3,387,600
366,752
-2.6%
305,815
60,937
9.0%
1.8%
10.8%
-0.3%
$49.22
$34.26
$47.43
18.6%
128,248
-65.5%
(70,278)
(84,234)
Financial East
24
10,927,205
658,995
-19.8%
636,045
22,950
5.8%
0.2%
6.0%
-1.5%
$42.29
$45.79
$42.32
10.9%
299,113
-30.1%
81,583
114,349
Insurance
10
5,712,767
430,548
-17.0%
303,058
127,490
5.3%
2.2%
7.5%
-1.5%
$45.05
$35.51
$41.38
12.4%
81,472
-59.2%
(27,990)
(40,990)
Totals
54
26,839,119
1,781,363
-6.9%
1,458,857
322,506
5.4%
1.2%
6.6%
-0.5%
$46.72
$33.79
$44.82
17.7%
569,920
-48.9%
(191,747)
(127,992)
SUBMARKET
DOWNTOWN OFFICE MARKET - CLASS C STATISTICAL SUMMARY

NUMBER
OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y %
CHANGE
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y % PT.
CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE WTD.
AVG. RENTAL
RATE
TOTAL
WTD. AVG.
RENTAL RATE
Y-o-Y %
CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL ABSORPTION
RATE
City Hall
23
3,002,934
37,494
-66.4%
35,194
2,300
1.2%
0.1%
1.2%
-2.2%
$44.82
$39.00
$44.27
-11.4%
32,281
100.6%
25,415
23,115
World Trade
49,500
N/A
0.0%
0.0%
0.0%
0.0%
$0.00
$0.00
$0.00
N/A
N/A
Financial West
1,360,707
342,378
79.3%
342,378
25.2%
0.0%
25.2%
11.1%
$47.58
$0.00
$47.58
33.2%
28,979
-13.2%
16,343
16,343
46,624
SUBMARKET
Financial East
955,916
133,674
-39.7%
122,137
11,537
12.8%
1.2%
14.0%
-7.5%
$38.01
$34.96
$37.77
18.2%
64,884
107.6%
51,023
Insurance
21
2,819,743
66,509
-72.9%
66,509
2.4%
0.0%
2.4%
-6.4%
$43.88
$0.00
$43.88
17.5%
49,401
-6.2%
12,140
23,613
Totals
56
8,188,800
580,055
-24.7%
566,218
13,837
6.9%
0.2%
7.1%
-1.9%
$44.77
$35.69
$44.55
21.9%
175,545
31.6%
104,921
109,695
DIRECT
AVAILABLE
SPACE
SUBLEASE
AVAILABLE
SPACE
DIRECT
VACANCY
RATE
SUBLEASE
VACANCY
RATE
TOTAL
VACANCY
RATE
Y-o-Y % PT.
CHANGE
DIRECT
WTD. AVG.
RENTAL RATE
SUBLEASE WTD.
AVG. RENTAL
RATE
TOTAL
WTD. AVG.
RENTAL RATE
Y-o-Y %
CHANGE
YEAR-TO-DATE
LEASING
ACTIVITY
Y-o-Y
% CHANGE
YEAR-TO-DATE DIRECT
ABSORPTION RATE
YEAR-TO-DATE
OVERALL ABSORPTION
RATE
(147,297)
DOWNTOWN OFFICE MARKET - OVERALL STATISTICAL SUMMARY

NUMBER
OF
BUILDINGS
INVENTORY
TOTAL
AVAILABLE
SPACE
Y-o-Y %
CHANGE
City Hall
39
World Trade
15
12,798,515
232,883
23.2%
230,583
2,300
1.8%
0.0%
1.8%
0.4%
$55.40
$39.00
$55.20
21.6%
59,831
6.3%
(144,997)
21,091,586
3,244,964
15.2%
2,971,118
273,846
14.1%
1.3%
15.4%
-0.2%
$72.48
$46.48
$71.83
12.1%
185,132
-87.4%
28,099
Financial West
19,759
14
5,411,622
756,529
20.8%
695,592
60,937
12.9%
1.1%
14.0%
2.4%
$48.56
$34.26
$47.76
21.6%
232,243
-51.4%
(60,386)
(47,181)
Financial East
52
35,261,509
3,399,132
8.7%
3,130,305
268,827
8.9%
0.8%
9.6%
0.8%
$52.73
$38.80
$51.99
24.9%
1,176,717
-4.4%
(500,587)
(409,973)
Insurance
39
13,268,439
1,439,165
-20.1%
1,307,414
131,751
9.9%
1.0%
10.8%
-2.3%
$47.83
$35.51
$46.63
9.8%
305,537
-35.3%
(3,967)
11,667
159
87,831,671
9,072,673
6.0%
8,335,012
737,661
9.5%
0.8%
10.3%
0.3%
$59.26
$38.78
$58.25
18.4%
1,959,460
-47.2%
(681,838)
(573,025)
SUBMARKET
Totals

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MANHATTAN OFFICE MARKET SECOND QUARTER 2015

MANHATTAN OFFICE MARKET - CLASS A STATISTICAL SUMMARY

MANHATTAN OFFICE MARKET - CLASS B STATISTICAL SUMMARY

MANHATTAN OFFICE MARKET - CLASS C STATISTICAL SUMMARY

MANHATTAN OFFICE MARKET - OVERALL STATISTICAL SUMMARY

MIDTOWN NEW YORK OFFICE MARKET - SECOND QUARTER 2015

MIDTOWN OFFICE MARKET - CLASS A STATISTICAL SUMMARY

6 Ave/ Rock Cntr

Times Square South

MIDTOWN OFFICE MARKET - CLASS B STATISTICAL SUMMARY

6 Ave/ Rock Cntr

Times Square South

Source: Cushman and Wakefield Research Services

MIDTOWN NEW YORK OFFICE MARKET - SECOND QUARTER 2015

MIDTOWN OFFICE MARKET - CLASS C STATISTICAL SUMMARY

6 Ave/ Rock Cntr

Times Square South

MIDTOWN OFFICE MARKET - OVERALL STATISTICAL SUMMARY

6 Ave/ Rock Cntr

Times Square South

Source: Cushman and Wakefield Research Services

MIDTOWN SOUTH NEW YORK OFFICE MARKET SECOND QUARTER 2015

Hudson Sq./W. Village

MIDTOWN SOUTH OFFICE MARKET - CLASS B STATISTICAL SUMMARY

Hudson Sq./W. Village

MIDTOWN SOUTH OFFICE MARKET - CLASS C STATISTICAL SUMMARY

Hudson Sq./W. Village

MIDTOWN SOUTH OFFICE MARKET - OVERALL STATISTICAL SUMMARY

Hudson Sq./W. Village

Source: Cushman and Wakefield Research Services

DOWNTOWN NEW YORK OFFICE MARKET- SECOND QUARTER 2015

DOWNTOWN OFFICE MARKET - CLASS A STATISTICAL SUMMARY

DOWNTOWN OFFICE MARKET - CLASS B STATISTICAL SUMMARY

DOWNTOWN OFFICE MARKET - CLASS C STATISTICAL SUMMARY

DOWNTOWN OFFICE MARKET - OVERALL STATISTICAL SUMMARY

Source: Cushman and Wakefield Research Services

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