Murray Hill

10

6,899,203

239,464

-61.5%

239,464

3.5%

0.0%

3.5%

-5.5%

$52.39

N/A

$52.39

5.4%

396,679

-72.0%

309,198

Grand Central

68

36,427,439

4,133,304

-14.9%

3,411,152

722,152

9.4%

2.0%

11.3%

-2.1%

$58.48

$47.31

$57.40

0.4%

1,388,674

-46.4%

330,352

314,842
65,434

United Nations

1,859,450

78,603

20.2%

78,603

4.2%

0.0%

4.2%

1.1%

$49.60

N/A

$49.60

18.1%

12,135

-22.8%

(70,695)

(70,695)

East Side

37

17,741,052

1,901,414

32.8%

1,540,009

361,405

8.7%

2.0%

10.7%

2.8%

$63.11

$58.22

$62.63

1.6%

637,507

-33.7%

(103,642)

(274,029)

Park Avenue

30

21,652,799

2,152,087

18.6%

1,502,930

649,157

6.9%

3.0%

9.9%

1.6%

$81.86

$69.61

$79.30

0.9%

932,581

-3.9%

267,942

(47,257)

Madison/ Fifth

74

21,597,596

3,575,934

10.7%

2,831,031

744,903

13.1%

3.4%

16.6%

1.6%

$100.22

$62.68

$96.52

-0.3%

1,186,477

-30.0%

83,528

(265,335)

41

38,003,977

3,984,186

15.6%

2,794,641

1,189,545

7.4%

3.1%

10.5%

1.4%

$80.09

$61.11

$74.45

6.2%

1,235,178

-29.9%

(397,344)

2,293,846

13.9%

1,761,684

532,162

8.6%

2.6%

11.2%

1.1%

$67.46

$56.78

$65.24

5.0%

794,359

-55.0%

(39,646)

426,755

40.7%

390,878

35,877

5.9%

0.5%

6.5%

1.9%

$57.40

$48.45

$56.62

3.4%

196,418

-0.5%

(121,687)

1,303,220
Total
87,130
Available

-6.0%
Y-o-Y
%1097.2%
Change

1,174,943
Direct
87,130
Available

128,277
Sublease
0
Available

16.0%
Direct
3.5%
Vacancy

1.8%
Sublease
0.0%
Vacancy

17.8%
Total
3.5%
Vacancy

-1.1%
Y-o-Y
% Pt.3.2%
Change

-56.0%
Y-o-Y
% -100.0%
Change

!
Y-o-Y
2.9%
% Change

Space
0

Rate
3.5%

Rate
0.0%

Rate
3.5%

!
-5.5%

Rental Rate
$52.39

Rental Rate
N/A

Rental Rate
$52.39

!
5.4%

Activity
Year-to-Date
7,047,586
Leasing
Activity
396,679

!
Y-o-Y
%-41.2%
Change

!
-61.5%

Space
Direct
15,812,465
Available
Space
239,464

$71.95
Total
$47.75
Wtd. Avg.
Rental
Rate
Total
$71.76
Wtd.
Avg.

267,578
Year-to-Date
0
Leasing

!
Y-o-Y
5.2%
% Change

$63.81
Sublease
N/A
Wtd. Avg.
Rental
Rate
Sublease
$59.71
Wtd.
Avg.

2.0%
Y-o-Y
6.1%
% Change

Space
Total
20,175,943
Available
Space
239,464

$72.46
Direct
$47.75
Wtd. Avg.
Rental
Rate
Direct
$73.97
Wtd.
Avg.

4,133,304
239,464
78,603
4,133,304
1,901,414
78,603
Total
2,152,087
1,901,414
Available
3,575,934
Space
2,152,087
3,984,186
3,575,934
2,293,846
346,126
3,984,186
426,755
816,585
2,293,846
1,303,220
0
426,755
87,130
32,950
1,303,220
0
Total
87,130
20,175,943
Available
229,582
Total
Space
Available
183,746
20,175,943
Space
63,168
239,464
894,617
239,464
4,133,304

-14.9%
-61.5%
20.2%
-14.9%
32.8%
20.2%
Y-o-Y
18.6%
% Change
32.8%
10.7%
!
18.6%
15.6%
10.7%
13.9%
-5.8%
15.6%
40.7%
25.5%
13.9%
-6.0%
N/A
40.7%
1097.2%
-60.4%
-6.0%
N/A
Y-o-Y
1097.2%
5.2%
% Y-o-Y
Change
19.9%
% Change
!
-20.7%
5.2%
!
-46.1%
-61.5%
-12.6%
-61.5%
-14.9%

3,411,152
239,464
78,603
3,411,152
1,540,009
78,603
Direct
1,502,930
1,540,009
Available
2,831,031
Space
1,502,930
2,794,641
2,831,031
1,761,684
326,796
2,794,641
390,878
782,582
1,761,684
1,174,943
0
390,878
87,130
32,950
1,174,943
0
Direct
87,130
15,812,465
Available
229,582
Direct
Space
Available
183,746
15,812,465
Space
63,168
239,464
872,420
239,464
3,411,152

722,152
0
0
722,152
361,405
0
Sublease
649,157
361,405
Available
744,903
Space
649,157
1,189,545

9.4%
3.5%
4.2%
9.4%
8.7%
4.2%
Direct
6.9%
8.7%
Vacancy
13.1%
Rate
6.9%
7.4%
13.1%
8.6%
5.1%
7.4%
5.9%
10.8%
8.6%
16.0%
0.0%
5.9%
3.5%
3.0%
16.0%
0.0%
Direct
3.5%
8.7%
Vacancy
7.5%
Direct
Rate
Vacancy
10.3%
8.7%
Rate
2.1%
3.5%
15.1%
3.5%
9.4%

2.0%
0.0%
0.0%
2.0%
2.0%
0.0%
Sublease
3.0%
2.0%
Vacancy
3.4%
Rate
3.0%
3.1%
3.4%
2.6%
0.3%
3.1%
0.5%
2.6%
1.8%
0.0%
0.5%
0.0%
1.8%
0.0%
Sublease
0.0%
2.4%
Vacancy
0.0%
Sublease
Rate
Vacancy
0.0%
2.4%
Rate

11.3%
3.5%
4.2%
11.3%
10.7%
4.2%
Total
9.9%
10.7%
Vacancy
16.6%
Rate
9.9%
10.5%
16.6%
11.2%
5.4%
10.5%
6.5%
11.2%
11.2%
17.8%
0.0%
6.5%
3.5%
3.0%
17.8%
0.0%
Total
3.5%
11.1%
Vacancy
7.5%
Total
Rate
Vacancy
10.3%
11.1%
Rate

-2.1%
-5.5%
1.1%
-2.1%
2.8%
1.1%
Y-o-Y
1.6%
% Pt.2.8%
Change
1.6%
!
1.6%
1.4%
1.6%
1.1%
-0.3%
1.4%
1.9%
2.4%
1.1%
-1.1%
0.0%
1.9%
3.2%
-4.5%
-1.1%
0.0%
Y-o-Y
3.2%
0.5%
% Pt.
Change
Y-o-Y
1.2%
% Pt.!
Change
-3.2%
0.5%

-46.4%
-72.0%
-22.8%
-46.4%
-33.7%
-22.8%
Y-o-Y
-3.9%
% -33.7%
Change
-30.0%
!
-3.9%
-29.9%
-30.0%
-55.0%
53.2%
-29.9%
-0.5%
-44.2%
-55.0%
-56.0%
N/A
-0.5%
-100.0%
-43.6%
-56.0%
N/A
Y-o-Y
-100.0%
%-41.2%
Change
Y-o-Y
-52.0%
% Change
!
-29.4%
-41.2%

330,352
309,198 Th
(70,695)
330,352
(103,642)
(70,695)
Year-to-Date
267,942
Direct(103,642)
Absorption
83,528
Rate
267,942
(397,344)

-1.7%
-5.5%
-2.2%
-5.5%
-2.1%

$57.40
$52.39
$49.60
$57.40
$62.63
$49.60
Total
$79.30
$62.63
Wtd.
Avg.
$96.52
Rental
Rate
$79.30
$74.45
$96.52
$65.24
$42.64
$74.45
$56.62
$49.38
$65.24
$71.95
N/A
$56.62
$47.75
$53.46
$71.95
N/A
Total
$47.75
$71.76
Wtd.
Avg.
$65.69
Total
Rental
Rate
Wtd. Avg.
$52.29
$71.76
Rental
Rate
$50.70
$52.39
$39.27
$52.39
$57.40

1,388,674
396,679
12,135
1,388,674
637,507
12,135
Year-to-Date
932,581
637,507
Leasing
1,186,477
Activity
932,581
1,235,178
1,186,477
794,359
410,378
1,235,178
196,418
335,191
794,359
267,578
0
196,418
0
33,126
267,578
0
Year-to-Date
0
7,047,586
Leasing
46,841
Year-to-Date
Activity
Leasing
95,522
7,047,586
Activity

1,600,574
4,133,304
78,603
Total
188,629
78,603
1,901,414
Available
Space
1,901,414
Total
2,152,087
4,355,977
Available
2,152,087
3,575,934
Space
346,126
3,575,934
3,984,186
816,585
3,984,186
2,293,846
346,126
0
2,293,846
426,755
816,585
32,950
Total
426,755
1,303,220
0
Available
0
1,303,220
Space
87,130
32,950
229,582
Total
87,130
0
Available
183,746
20,175,943
Space
229,582
Total
63,168
20,175,943
183,746
Available
894,617
239,464
Space
63,168
1,600,574
4,133,304
894,617
188,629
239,464
78,603
1,600,574
4,133,304
1,901,414
Total
188,629
4,355,977
Available
Total
78,603
2,152,087
Space
Available
1,901,414
3,575,934
4,355,977
Space
2,152,087
3,984,186
346,126

30.3%
-14.9%
20.2%
Y-o-Y
4.7%
20.2%
% Change
32.8%
Y-o-Y
32.8%
18.6%
6.9%
% Change
18.6%
10.7%
-5.8%
10.7%
15.6%
25.5%
15.6%
13.9%
-5.8%
N/A
13.9%
40.7%
25.5%
-60.4%
Y-o-Y
40.7%
-6.0%
N/A
% Change
N/A
-6.0%
1097.2%
-60.4%
Y-o-Y
19.9%
1097.2%
N/A
% Change
-20.7%
5.2%
19.9%
Y-o-Y
-46.1%
5.2%
% -20.7%
Change
-12.6%
-61.5%
!
-46.1%
30.3%
-14.9%
-12.6%
4.7%
-61.5%
20.2%
30.3%
-14.9%
Y-o-Y
32.8%
4.7%
6.9%
% Y-o-Y
Change
20.2%
18.6%
% Change
!
32.8%
10.7%
6.9%
!

1,325,417
3,411,152
78,603
Direct
188,629
78,603
1,540,009
Available

9.3%
9.4%
4.2%
Direct
18.7%
4.2%
8.7%
Vacancy

$44.44
$58.48
$49.60
Direct
$41.47
$49.60
$63.11
Wtd.
Avg.
Rental
Rate
$63.11
Direct
$81.86
$45.55
Wtd.
Avg.
$81.86
$100.22
Rental
Rate
$43.19
$100.22
$80.09
$49.76
$80.09
$67.46
$43.19
N/A
$67.46
$57.40
$49.76
$53.46
Direct
$57.40
$72.46
N/A
Wtd.
Avg.
N/A
$72.46
Rental
Rate
$47.75
$53.46
$65.69
Direct
$47.75
N/A
Wtd.
Avg.
$52.29
$73.97
Rental
Rate
$65.69
Direct
$50.70
$73.97
$52.29
Wtd.
Avg.
$39.26
$52.39
Rental
Rate
$50.70
$44.44
$58.48
$39.26
$41.47
$52.39
$49.60
$44.44
$58.48
$63.11
Direct
$41.47
$45.55
Wtd.
Avg.
Direct
$49.60
$81.86
Rental
Rate
Wtd. Avg.
$63.11
$100.22
$45.55
Rental
Rate
$81.86
$80.09
$43.19

$44.01
$47.31
N/A
Sublease
$0.00
N/A
$58.22
Wtd.
Avg.

$44.42
$57.40
$49.60
Total
$41.47
$49.60
$62.63
Wtd.
Avg.
Rental
Rate
$62.63
Total
$79.30
$45.39
Wtd.
Avg.
$79.30
$96.52
Rental
Rate
$42.64
$96.52
$74.45
$49.38
$74.45
$65.24
$42.64
N/A
$65.24
$56.62
$49.38
$53.46
Total
$56.62
$71.95
N/A
Wtd.
Avg.
N/A
$71.95
Rent
$47.75
$53.46
$65.69
Total
$47.75
N/A
Wtd.
Avg.
$52.29
$71.76
Rental
Rate
$65.69
Total
$50.70
$71.76
$52.29
Wtd.
Avg.
$39.27
$52.39
Rental
Rate
$50.70
$44.42
$57.40
$39.27
$41.47
$52.39
$49.60
$44.42
$57.40
$62.63
Total
$41.47
$45.39
Wtd.
Avg.
Total
$49.60
$79.30
Rental
Rate
Wtd. Avg.
$62.63
$96.52
$45.39
Rental Rate
$79.30
$74.45
$42.64

4.8%
0.4%
18.1%
Y-o-Y
0.9%
18.1%
% Change
1.6%

Rate
8.7%
Direct
6.9%
9.0%
Vacancy
6.9%
13.1%
Rate
5.1%
13.1%
7.4%
10.8%
7.4%
8.6%
5.1%
0.0%
8.6%
5.9%
10.8%
3.0%
Direct
5.9%
16.0%
0.0%
Vacancy
0.0%
16.0%
Rate
3.5%
3.0%
7.5%
Direct
3.5%
0.0%
Vacancy
10.3%
8.7%
Rate
7.5%
Direct
2.1%
8.7%
10.3%
Vacancy
15.1%
3.5%
Rate
2.1%
9.3%
9.4%
15.1%
18.7%
3.5%
4.2%
9.3%
9.4%
8.7%
Direct
18.7%
9.0%
Vacancy
Direct
4.2%
6.9%
Rate
Vacancy
8.7%
13.1%
9.0%
Rate
6.9%
7.4%
5.1%

1.9%
2.0%
0.0%
Sublease
0.0%
0.0%
2.0%
Vacancy
Rate
2.0%
Sublease
3.0%
0.8%
Vacancy
3.0%
3.4%
Rate
0.3%
3.4%
3.1%
0.5%
3.1%
2.6%
0.3%
0.0%
2.6%
0.5%
0.0%
Sublease
0.5%
1.8%
0.0%
Vacancy
0.0%
1.8%
Rate
0.0%
0.0%
Sublease
0.0%
0.0%
Vacancy
0.0%
2.4%
Rate
0.0%
Sublease
0.0%
2.4%
0.0%
Vacancy
0.4%
0.0%
Rate
0.0%
1.9%
2.0%
0.4%
0.0%
1.9%
2.0%
Sublease
0.0%
0.8%
Vacancy
Sublease
0.0%
3.0%
Rate
Vacancy
2.0%
3.4%
0.8%
Rate
3.0%
3.1%
0.3%

2.1%
3.5%
15.5%
3.5%
11.3%
11.2%
11.3%
4.2%
Total
18.7%
4.2%
10.7%
Vacancy

$47.31
N/A
N/A
$47.31
$58.22
N/A
Sublease
$69.61
$58.22
Wtd.
Avg.
$62.68
Rental
Rate
$69.61
$61.11
$62.68
$56.78
$31.67
$61.11
$48.45
$39.66
$56.78
$63.81
N/A
$48.45
N/A
$63.81
N/A
Sublease
N/A
$59.71
Wtd.
Avg.
N/A
Sublease
Rental
Rate
Wtd. Avg.
N/A
$59.71
Rental
Rate
N/A
N/A
$39.48
N/A
$47.31

0.4%
5.4%
18.1%
0.4%
1.6%
18.1%
Y-o-Y
0.9%
% Change
1.6%
-0.3%
!
0.9%
6.2%
-0.3%
5.0%
-0.4%
6.2%
3.4%
9.6%
5.0%
2.0%
N/A
3.4%
6.1%
-0.7%
2.0%
N/A
Y-o-Y
6.1%
2.9%
% Y-o-Y
Change
13.8%
% Change
!
-2.4%
2.9%

0.0%
0.0%
0.4%
0.0%
2.0%

$58.48
$52.39
$49.60
$58.48
$63.11
$49.60
Direct
$81.86
$63.11
Wtd.
Avg.
$100.22
Rental
Rate
$81.86
$80.09
$100.22
$67.46
$43.19
$80.09
$57.40
$49.76
$67.46
$72.46
N/A
$57.40
$47.75
$53.46
$72.46
N/A
Direct
$47.75
$73.97
Wtd.
Avg.
$65.69
Direct
Rental
Rate
Wtd. Avg.
$52.29
$73.97
Rental
Rate
$50.70
$52.39
$39.26
$52.39
$58.48

N/A
-55.0%
-0.5%
-44.2%
-43.6%
-0.5%
N/A
% -56.0%
N/A
-56.0%
-100.0%
!
-43.6%
Y-o-Y
-52.0%
-100.0%
N/A
% Change
-29.4%
-41.2%
!
-52.0%
Y-o-Y
-48.3%
-41.2%
% -29.4%
Change
29.0%
-72.0%
!
-48.3%
-8.9%
-46.4%
29.0%
-35.0%
-72.0%
-22.8%
-8.9%
-46.4%
Y-o-Y
-33.7%
-35.0%
%-14.7%
Change
Y-o-Y
-22.8%
-3.9%
% Change
!
-33.7%
-30.0%
-14.7%
!

13.1%
8.6%
5.1%
10.8%
Direct
7.4%
5.9%
10.8%
0.0%
Direct
Vacancy
8.6%
Vacancy
16.0%
0.0%
Rate
3.0%
Direct
Rate
%
5.9%
3.5%
Vacancy
3.0%
0.0%
Rate
16.0%
5.7%
0.0%
7.5%
3.5%
8.7%
3.5%
0.0%
7.5%
10.3%
9.4%
5.7%
0.0%
10.3%
2.1%
4.2%
0.0%
8.7%
0.0%
2.1%
15.1%
8.7%
0.0%
D15.1%
0.0%
9.3%
6.9%
0.0%
0.0%
9.3%
18.7%
13.1%
0.0%
Direct
12.4%
18.7%
Vacancy
7.4%
0.0%
7.5%
9.0%
Rate
8.6%
12.4%
Direct
9.0%
0.2%
Vacancy
5.9%
7.5%
5.1%
4.7%
Rate
16.0%
0.2%
10.8%
0.0%
3.5%
4.7%
5.1%
0.0%
Direct
0.0%
4.6%
10.8%
Vacancy
3.0%
Direct
8.7%
Rate
Vacancy
0.0%
4.6%
Rate

3.4%
2.6%
0.3%
0.5%
Sublease
3.1%
0.5%
0.0%
Sublease
Vacancy
2.6%
Vacancy
1.8%
0.0%
Rate
0.0%
Sublease
Rate
%
0.5%
Vacancy
0.0%
0.0%
Rate
1.8%
0.6%
0.0%
0.0%
0.0%
2.4%
0.0%
0.0%
2.0%
0.6%
0.0%
0.0%
0.0%
2.4%
0.0%
0.4%
2.0%
0.0%
0.0%
0.4%
1.9%
3.0%
0.0%
0.0%
1.9%
0.0%
3.4%
0.0%
Sublease
0.0%
Vacancy
3.1%
0.0%
1.4%
0.8%
Rate
2.6%
0.0%
Sublease
0.8%
0.0%
Vacancy
0.5%
1.4%
0.3%
Rate
1.8%
0.0%
0.5%
0.0%
0.0%
0.3%
0.3%
0.0%
Sublease
0.0%
0.4%
0.5%
Vacancy
0.0%
Sublease
2.4%
Rate
Vacancy
0.0%
0.4%
Rate

0
794,359
196,418
335,191
33,126D
196,418
267,578
0
0
A267,578
0
33,126
46,841
Year-to-Date
00
Leasing
95,522
7,047,586
Activity
46,841
Year-to-Date
104,554
7,047,586
95,522
Leasing
261,422
396,679
Activity
104,554
765,422
1,388,674
261,422
4,460
396,679
12,135
765,422
1,388,674
637,507
Year-to-Date
4,460
2,056,916
Leasing
Year-to-Date
12,135
932,581
Activity
Leasing
637,507
1,186,477
2,056,916
Activity
932,581
1,235,178
410,378
1,186,477
794,359
410,378
335,191

0
(39,646)
(121,687)
(241,627)
21,876D Third
(121,687)
110,865
0
D
A0
110,865
(29,600)
21,876
(98,219) Third
Year-to-Date
(29,600)
0
Direct Absorption
39,616
339,271
Rate
(98,219)
Year-to-Date
43,236
339,271
Direct39,616
Absorption
(117,724)
309,198
Rate
43,236
(229,516)
330,352 Third
(117,724)
(17,104) Third
309,198
(70,695)
(229,516)
330,352
(103,642)
Year-to-Date
(17,104)
(491,176)
Direct
Absorption
Year-to-Date
(70,695)
267,942
Direct Rate
Absorption
(103,642)
83,528
(491,176)
Rate
267,942 Third
(397,344)
108,286 Third
83,528
(39,646)
108,286
(241,627)
Third
Year-to-Date
(397,344)
(121,687)
(241,627)
0
Year-to-Date
Direct
Absorption
(39,646)
Direct110,865
Absorption
0
Rate
21,876
Year-to-Date
Rate
(29,600)
Direct(121,687)
Absorption
21,876
0
Rate
110,865
(14,785)
0
(98,219)
309,198
339,271
(29,600)
0
(98,219)
39,616
330,352
(14,785) Th d
0
39,616
43,236
(70,695)
0
339,271
0
43,236
(117,724)
(103,642)
0
Third
0 D
(117,724)
(229,516)
267,942
D
A0
0
(229,516)
(17,104)
83,528
0
Third
Year-to-Date
(10,838)
(17,104)
Direct(397,344)
Absorption
0
(64,448)
(491,176)
Rate
(39,646)
(10,838)
Year-to-Date
(491,176)
25,616
Direct(121,687)
Absorption
(64,448)
108,286
24,094
Rate Third
110,865
25,616
(241,627)
Third
0
(29,600)
24,094
108,286
0
Year-to-Date
0
(40,361)
(241,627)
Direct
Absorption
21,876
Year-to-Date
339,271
Direct Rate
Absorption
0
(40,361)
Rate
21,876
(98,219)
(14,785) Third
0
39,616
Third
(14,785)
0
(98,219)
43,236 Third
00
Year-to-Date
39,616
(117,724)
00
Year-to-Date
Direct
Absorption
43,236
Direct(229,516)
Absorption
Rate
00
Year-to-Date
Rate
(17,104)
Direct(117,724)
Absorption
00
Rate
(229,516)
402,699
0
108,286
(10,838)
(491,176)
(17,104)
88,725
(10,838)
(241,627)
(64,448)
402,699
(70,695)
(64,448)
0
25,616
88,725
(491,176)
(81,766) Third
25,616
21,876
24,094
(70,695)
267,942
24,094
0
(81,766)
(14,691) Third
Year-to-Date
0
(98,219)
Direct267,942
Absorption
(368,566)
(40,361)
Rate
39,616
(14,691)
Year-to-Date
(60,858)
(40,361)
43,236
Direct(368,566)
Absorption
(213,795)
(14,785)
Rate
(117,724)
(60,858)
(94,557)
Third
0
(229,516)
(213,795)
Third
(46,704)
(14,785)
0
(17,104)
(94,557)
0
Year-to-Date
(46,704)
(192,266)
Direct
Absorption
Year-to-Date
0
(491,176)
Direct Rate
Absorption
0
(192,266)
Rate

6 Ave/ Rock Cntr

Postings

MIDTOWN NEW YORK OFFICE MARKET

28
20,435,166
Class A Statistical Summary
6
6,576,415
NEW YORK OFFICE
MARKET
Times
South
12
7,323,711
ClassSquare
A Statistical
Summary

Westside

Penn
Station
MIDTOWN

Submarket
Totals

Lincoln Center

5
Number of
Buildings
320 of
Number

Inventory
180,995,042

2,478,234

Submarket
Murray Hill

Buildings
10

Inventory
6,899,203

Space
Rate YORK
Rate
Rate
!THIRD QUARTER 2012
Y-o-Y
MIDTOWN
NEW
OFFICE MARKETSublease
Direct
Sublease
Total
4,363,478
8.7% YORK
2.4%
11.1%
0.5%
% Pt.
Change
Available
Vacancy
Vacancy
MIDTOWN
NEW
OFFICEVacancy
MARKETTHIRD QUARTER 2012

Times Square Shuffle

M DTOWN NEW YORK OFF CE MARKET

36,427,439

Grand Central
68
Murray
Hill
C
BS
Summ10
United
Nations
9 y
Grand Central
68
East Side
37
United Nations
9
Park Avenue
30
East Side
37 of
Number
Madison/
Fifth
74
Buildings
Submarket
Park Avenue
30
6 Ave/ Rock Cntr
41
Madison/ Fifth
74
Westside
28
Murray
Hill
51
6 Ave/ Rock Cntr
41
Penn
Station
6
Grand
Central NEW YORK 64
MIDTOWN
OFFICE
Westside
28
MIDTOWN
NEW
YORK
OFFICE
Times
South
12
United
Nations
7
ClassSquare
A Statistical
Summary
Penn Station
6
Class
A Statistical Summary
Lincoln
Center
5
East
Side
22
Times Square South
12
Park Avenue
0
Lincoln
5
Totals Center
320
Number
Madison/ Fifth
47 of
Buildings
Submarket
Number
of
6Totals
Ave/ Rock Cntr
25
320
Buildings
Submarket

6,899,203
1,859,450
36,427,439
17,741,052
1,859,450
21,652,799
17,741,052
21,597,596
Inventory
21,652,799
38,003,977
21,597,596
20,435,166
6,396,473
38,003,977
6,576,415
7,270,513
MARKET
20,435,166
MARKET
7,323,711
810,198
6,576,415
2,478,234
1,110,473
7,323,711
0
2,478,234
180,995,042
3,073,031
Inventory
1,781,381
180,995,042
Inventory

744,903
532,162
19,330
1,189,545
35,877
34,003
532,162
128,277
0
35,877
0
128,277
0
Sublease
0
4,363,478
Available
0
Sublease
Space
Available
0
4,363,478
Space

When word began to tr ck e down ast week that a con uence o nger ng
domest c and nternat ona worr es were beh nd a s ugg sh th rd quarter o o ce
eas ng ew ana ysts were surpr sed ndeed am
d quest ons surround ng the
MIDTOWN NEW YORK OFFICE MARKET- THIRD QUARTER 2012
17 8% Wh e he vacancy a e ac oss T mes
nternat
ona
debt
cr
ses
th
s
country
s
upcom
ng
pres dent a e ect ons and a
!
MIDTOWN NEW YORK OFFICE MARKET
MIDTOWN NEW YORK OFFICE MARKET-!THIRD
2012
Squa eQUARTER
Sou h s C ass
A bu d ngs seems
Class B Statistical
Summary
og o property
tax and regu atory ssues rather than mak ng b g moves many o
MIDTOWN NEW YORK OFFICE MARKET
h gh much o ha ava ab e space can be
Class B Statistical
the c tySummary
s argest corporate tenants have chosen to do noth ng at a But n T mes
a bu ed o 11 T mes Squa e a bu d ng ha
Square South M dtown s th rd- argest
submarket tech startups and creat ve
!
! was comp e ed du ng he economy s nad !
! area s h gh-ce nged b g-w ndowed stock
! Remov ng ha add ess om he equa on!
proNEW
ess
onaOFFs CE
cont
nued to ock to the
M DTOWN
YORK
MARKET
C
CS
Summ y
wou d owe he vacancy a e o 9 4 pe cen
o NEW
o ce
buOFFICE
d ngs
mak ng t one o the ew ne ghborhoods to show th rd-quarter
MIDTOWN
YORK
MARKET
mak ng one o he gh es ma ke s n he
Class A Statistical Summary
mprovement Ken McCarthy sen or econom st atMIDTOWN
Cushman &NEW
WakeYORK
e d rev
ewedMARKET- THIRD
OFFICE
QUARTER 2012
MIDTOWN NEW YORK OFFICE MARKET
a ea A o a sudden goes om be ng!
!
!
Class A Statistical
Summary
the ne ghborhood s th rd-quarter act v ty w th The Commerc a Observer and
ough y ave age o be ng a mos he gh es
!
exp a ned why T mes! Square South d d so we
ma ke n M d own sa d M McCa hy So!

Westside
Murray Hill
Penn Station
Murray
Hill
Grand Central

22
10
19
10
68
Times Central
Square South
62
Grand
68
United Nations
9
Lincoln Nations
Center
9
United
9
East Side
37
Number
of
Buildings
Submarket
East
Side
37
Park
Avenue
30
Totals
328 of
Number
Park
Avenue
30
Madison/
Fifth
74
Buildings
Submarket
Murray Hill
51
Madison/
Fifth
74
6 Ave/ Rock
Cntr
41
Grand Central
64
6
Ave/ Rock
41
Westside
28
Murray
Hill Cntr
51
United Nations
7
Westside
28
Penn Station
6
Grand
Central
64
East Side
22
Penn
6
TimesStation
Square
South
12
United
Nations
7
Number
Park Avenue
0 of
Times
Square
South
12
Buildings
Lincoln
Center
5
Submarket
East
Side
22
Madison/ Fifth
47
Lincoln
Center
5
Park Avenue
0
Number
of
6Totals
Ave/ Rock Cntr
25
320
M
H Fifth
Buildings
Submarket
Madison/
47
Westside
22
Totals
320
G
6 Ave/ Rock Cntr
25 of
Number
Penn
Station
19
MIDTOWN
NEW YORK
OFFICE
Murray
Hill
10
Buildings
U
N
Submarket
Westside
22
MIDTOWN
NEW YORK
OFFICE
Times
Square
South
62
Class
B Statistical
Summary
Grand
Central
68
Penn Station
19
Class
B
Statistical
Summary
Lincoln Nations
Center
9
Murray
Hill
10
United
9
TimesASquare South
62
Grand
Central
68
East
Side
37
M
Lincoln
9
Totals Center
328
Number
of
United
Nations
9
Park
Avenue
30
A
Buildings
Submarket
Number
of
MIDTOWN
NEW YORK
OFFICE
East
Side Fifth NEW YORK328
37
Madison/
74
Totals
MIDTOWN
OFFICE
W
Buildings
Submarket
Class
C
Statistical
Summary
Park
Avenue
30
6
Ave/
Rock
CntrNEW YORK
41
MIDTOWN
OFFICE
Class
A Statistical
Summary
Murray
Hill
51

3,028,533
6,899,203
5,788,473
6,899,203
36,427,439
14,311,550
36,427,439
1,859,450
1,010,509
1,859,450
17,741,052
Inventory
17,741,052
21,652,799
44,581,134
21,652,799
21,597,596
Inventory
6,396,473
21,597,596
38,003,977
7,270,513
38,003,977
20,435,166
6,396,473
810,198
20,435,166
6,576,415
7,270,513
1,110,473
6,576,415
7,323,711
810,198
0
7,323,711
2,478,234
Inventory
1,110,473
3,073,031
2,478,234
0
1,781,381
180,995,042
Inventory
3,073,031
3,028,533
180,995,042
1,781,381
5,788,473
MARKET
6,899,203
Inventory
3,028,533
MARKET
14,311,550
36,427,439
5,788,473
1,010,509
6,899,203
1,859,450
14,311,550
36,427,439
17,741,052
1,010,509
44,581,134
1,859,450
21,652,799
Inventory
MARKET
17,741,052
21,597,596
44,581,134
MARKET
Inventory
21,652,799
38,003,977
MARKET
6,396,473

Madison/
74
21,597,596
Westside
28
20,435,166
Murray
Hill
51
6,396,473
m Central
Grand
64
7,270,513
Class
CFifth
Statistical Summary
6
Ave/
Rock Cntr
41
38,003,977
Penn
Station
6
6,576,415
Grand
Central
64
7,270,513
United
Nations
7
810,198
Number
of
Westside
28
20,435,166
Number
of
Times
Square
South
12
7,323,711
United
Nations
7
810,198
Buildings
Inventory
Submarket
East
Side
22
1,110,473
Buildings
Submarket
Inventory
Penn
Station
6
6,576,415
Lincoln
Center
5 of
2,478,234
Number
East
Side
22
1,110,473
Park
Avenue
0
0
Buildings
Inventory
Submarket
TimesAvenue
Square
South
12
7,323,711
Murray
Hill
22
1,070,823
Park
0
0
Madison/
Fifth
47
3,073,031
Murray
Hill
10
6,899,203
M
DTOWN
NEW
YORK
OFF
CE
MARKET
Totals
320
180,995,042
Lincoln
Center
2,478,234
Grand
Central
5
272,576
Madison/
Fifth
47
3,073,031
6 Ave/Central
Rock
Cntr
25
1,781,381
Grand
68
36,427,439
Murray
HillS
1,070,823
Ove
Summ22
y
United
Nations
0
0
6
Ave/
Rock
Cntr
25
1,781,381
Westside
22
3,028,533
United
Nations NEW YORK320
9
1,859,450
Grand
5
272,576
MIDTOWN
OFFICE
MARKET
TotalsCentral
180,995,042
East
Side
2
43,000
Westside
22
3,028,533
PennSide
Station
19
5,788,473
East
37
17,741,052
United
Nations
0
0
Class
B Statistical Summary
Park
0
0
Penn Avenue
Station
19
5,788,473
Times
Square
South
62
14,311,550
Park
Avenue
21,652,799
MIDTOWN
NEW YORK
OFFICE
MARKET
East
Side
2
43,000
N m30
Madison/
FifthSouth
0
0
Times
Square
62
14,311,550
Lincoln
Center
9
1,010,509
mAvenue
Madison/
Fifth
74
21,597,596
Park
0
0
Class B Statistical Summary
6 Ave/ Rock
Cntr
7
368,885
Lincoln
Center
9
1,010,509
Number
6
Ave/ Rock
Cntr
41
38,003,977
Madison/
Fifth
0 of
0
Westside
21
2,322,389
Totals H
328
44,581,134
M
Buildings
Inventory
Submarket
Westside
28
20,435,166
6Totals
Ave/ Rock Cntr
7
368,885
328
44,581,134
Penn
Station
20
2,226,447
G
MIDTOWN
NEW YORK
OFFICE
MARKET
Number
of
Penn
Station
6
6,576,415
Westside
21
2,322,389
MIDTOWN
NEW YORK
OFFICE MARKET
Murray
Hill
51
6,396,473
Times
Square
South
73
9,600,346
Buildings
U
N
Inventory
Submarket
ClassSquare
C Statistical
Summary
Times
South
12
7,323,711
Penn Station
20
2,226,447
Grand
64
7,270,513
ClassCentral
C Statistical Summary
Lincoln
Center
1
55,000
Lincoln
CenterSouth
5
2,478,234
Times Square
73
9,600,346
Murray
Hill
51
6,396,473
United
7
810,198
A Nations
Lincoln
Center
1
55,000
Totals
151
15,959,466
Grand
Central
64
7,270,513
Number
East
Side
22 of
1,110,473
MTotals
320
180,995,042
Buildings
Inventory
Submarket
Number
United
Nations
7
810,198
Park
0 of
0
A Avenue
Totals
151
15,959,466
Buildings
Inventory
Submarket
MIDTOWN
NEW YORK OFFICE MARKET
East
Side Fifth NEW YORK 22
1,110,473
Madison/
47
3,073,031
MIDTOWN
OFFICE MARKET
W
Murray
HillStatistical Summary
22
1,070,823
Overall
Park
Avenue
0
0
6
Ave/
Rock
CntrNEW YORK
25
1,781,381
MIDTOWN
OFFICE
MARKET
Class
B
Statistical
Summary
Murray
Hill
22
1,070,823
Grand Central
5
272,576
Madison/
Fifth
47
3,073,031
Westside
22
3,028,533
m Central
Overall
Statistical Summary
Grand
5
272,576
United
Nations
0
0
6
Ave/
Rock
Cntr
25
1,781,381
Penn Station
19
5,788,473
United
Nations
0
0
East Side
2 of
43,000
Number
Westside
22
3,028,533
Number
Times
Square South
62 of
14,311,550
Buildings
Inventory
Submarket
East
Side
2
43,000
Park
Avenue
0
0
Buildings
Inventory
Submarket
Penn
Station
19
5,788,473
Lincoln
Center
9 of
1,010,509
Number
Park
Avenue
0
00
Madison/
Fifth
0
Buildings
Inventory
Submarket
Times
Square
62
14,311,550
Murray
Hill South
83
14,366,499
Madison/
Fifth
0
0
Murray
Hill Cntr
51
6,396,473
6Totals
Ave/ Rock
7
368,885
328
44,581,134
Lincoln
Center
9
1,010,509
Grand
Central
137
43,970,528
6
Ave/
Rock
Cntr
7
368,885
Grand
Central
64
7,270,513
Westside
21
2,322,389
Murray Hill
83
14,366,499
MIDTOWN
OFFICE MARKET
United
Nations NEW YORK 16
2,669,648
Westside
21
2,322,389
United
Nations
7 month is included
810,198
Penn
20
2,226,447
Grand
Central
137
43,970,528
y space that can be occupied
withinStation
six
from the end of the current
in
statistics.
Totals
328
44,581,134
Class
Cmonths
Statistical
Summary
East
Side
61
18,894,525
Penn
Station
20
2,226,447
East
Side
22
1,110,473
Times
Square
South
73
9,600,346
United
Nations
2,669,648
MIDTOWN
NEW YORK 16
OFFICE MARKET
Park
Avenue
30
21,652,799
shman and Wakefield Research
Services
Times
Square
South
73
9,600,346
Park
Avenue
0
0
Lincoln
Center
1
55,000
East
Side
61
18,894,525
Class
CFifth
Statistical Summary
Madison/
121
24,670,627
Lincoln
Center
1
55,000
Madison/
Fifth
47
3,073,031
Park
Avenue
30
21,652,799
Number
of
6Totals
Ave/ Rock Cntr
73
40,154,243
151
15,959,466
Buildings
Inventory
Submarket
6
Ave/ Rock
Cntr
25
1,781,381
Madison/
Fifth
121
24,670,627
Westside
71
25,786,088
Totals
151
15,959,466
Westside
22 of
3,028,533
6
Ave/ Rock Cntr
73
40,154,243
Number
Penn
Station
45
14,591,335
MIDTOWN
NEW YORK
OFFICE MARKET
Murray
Hill
22
1,070,823
Buildings
Inventory
Submarket
Penn Station
19
5,788,473
Westside
71
25,786,088
MIDTOWN
NEW
YORK
OFFICE
MARKET
Times
Square
South
147
31,235,607
Overall
Statistical
Summary
Grand
Central
5
272,576
TimesStation
Square South
62
14,311,550
Penn
45
14,591,335
Overall
Lincoln
Center
15
3,543,743
Murray
HillStatistical Summary
22
1,070,823
United
Nations
0
0
LincolnSquare
CenterSouth
9
1,010,509
Times
147
31,235,607
Grand
Central
5
272,576
East Side
2
43,000
Lincoln
15
3,543,743
Totals Center
799
241,535,642
Number
United
Nations
0 of
0
Park
Avenue
Totals
328
44,581,134
Buildings
Inventory
Submarket
Number
of
East
Side Fifth NEW YORK799
2
43,000
Madison/
0
0
Totals
241,535,642
MIDTOWN
OFFICE
MARKET
Buildings
Inventory
Submarket
Park
Avenue
0
0
6
Ave/
Rock
Cntr
7
368,885
Class
C Statistical
Summary
Murray
Hill
83
14,366,499
Madison/
Fifth
0
0
Westside
21
2,322,389
Murray
Hill
83
14,366,499
Grand
Central
137
43,970,528

3,575,934
2,293,846
346,126
816,585
Total
3,984,186
426,755
816,585
0
Total
Available
2,293,846
Available
1,303,220
0
Space
32,950
Total
Space
426,755
87,130
Available
32,950
0
Space
1,303,220
67,250
0
229,582
239,464
20,175,943
87,130
0
229,582
183,746
4,133,304
67,250
0
183,746
63,168
78,603
0
20,175,943
0
63,168
894,617
1,901,414
0
0
894,617
1,600,574
0
A2,152,087
0
1,600,574
188,629
3,575,934
0
Total
45,854
188,629
Available
3,984,186
0
206,784
4,355,977
Space
2,293,846
45,854
Total
4,355,977
5,220
Available
426,755
206,784
346,126
479,474
Space
1,303,220
5,220
816,585
0
87,130
479,474
346,126
0
Total
0
804,582
816,585
Available
32,950
Total
20,175,943
Space
Available
0
804,582
Space
32,950
229,582
67,250
0
183,746
67,250
0
229,582
63,168
00
Total
183,746
894,617
00
Total
Available
63,168
Available
1,600,574
Space
00
Total
Space
894,617
188,629
Available
00
Space
1,600,574
652,840
0
346,126
45,854
4,355,977
188,629
4,949,889
45,854
816,585
206,784
652,840
78,603
206,784
0
5,220
4,949,889
4,355,977
1,934,364
5,220
32,950
479,474
78,603
2,152,087
479,474
0
1,934,364
3,805,516
Total
0
229,582
2,152,087
Available
4,213,786
804,582
Space
183,746
3,805,516
Total
2,563,798
804,582
63,168
4,213,786
Available
1,326,592
67,250
Space
894,617
2,563,798
3,383,268
0
1,600,574
1,326,592
275,759
67,250
0
188,629
3,383,268
0
Total
275,759
25,336,502
Available
Total
0
4,355,977
Space
Available
0
25,336,502
Space

31 235 607 Wha many peop e don ea ze

s ha T mes Squa e Sou h s among he
a ges subma ke s n M d own w h much
o he office s ock sp be ween C ass B
and C ass C asse s The on y ma ke s ha
a e b gge a e G and Cen a and he S x h
Avenue co do sa d M McCa hy And he
0
vas ma o y o
s o de bu d ngs wh652,840
ch
s
45,854
0
206,784
652,840
4,949,889
why s a ac ve o he k nds o echno
ogy
6
Ave/
Rock Cntr
7
368,885
45,854
Penn
Station
20
2,226,447
5,220
Grand
Central
137
43,970,528
4,949,889
United Nations
16
2,669,648
78,603
Total
enan
s who can
space
own
Westside
21
2,322,389
206,784
Number
of
Times
Square
South
73 find
9,600,346 n M d Available
479,474
United
Nations
16
2,669,648
78,603
East
Side
61
18,894,525
1,934,364
Buildings
Space
Inventory
Submarket
Penn
Station
20
2,226,447
5,220
Lincoln
Center
1h anymo
55,000
0
East
Side
61
18,894,525
1,934,364
Sou
e
Park
Avenue
30
21,652,799
2,152,087

y space that can be occupied within six months from the end of the current month is included in statistics.

19.9%
-61.5%
5.2%
1097.2%
N/A
19.9%
-20.7%
-14.9%
-15.6%

N/A
-20.7%
-46.1%
20.2%
N/A
5.2%
N/A
-46.1%
-12.6%
32.8%
N/A
N/A
-12.6%
30.3%
% 18.6%
N/A
N/A
30.3%
4.7%
!
10.7%
N/A
Y-o-Y
165.6%
4.7%
% Change
15.6%
N/A
102.1%
6.9%
!
13.9%
165.6%
Y-o-Y
6.9%
-88.8%
% Change
40.7%
102.1%
-5.8%
-28.1%
!
-6.0%
-88.8%
25.5%
N/A
1097.2%
-28.1%
-5.8%
N/A
Y-o-Y
N/A
%-12.4%
Change
25.5%
Y-o-Y
-60.4%
5.2%
% Change
!
N/A
-12.4%
!
-60.4%
19.9%
-15.6%
N/A
-20.7%
-15.6%
N/A
19.9%
-46.1%
N/A
N/A
Y-o-Y
-20.7%
-12.6%
N/A
% Y-o-Y
Change
N/A
% -46.1%
Change
30.3%
!
Y-o-Y
N/A
N/A
!%
% -12.6%
Change
4.7%
N/A
N/A
!
30.3%
-38.9%
N/A
-5.8%
165.6%
6.9%
4.7%
-10.1%
165.6%
25.5%
102.1%
-38.9%
20.2%
102.1%
N/A
-88.8%
-10.1%
6.9%
27.3%
-88.8%
-60.4%
-28.1%
20.2%
18.6%
-28.1%
N/A
27.3%
Y-o-Y
11.3%
N/A
19.9%
18.6%
% Change
14.1%
-12.4%
!
-20.7%
11.3%
Y-o-Y
14.8%
-12.4%
% -46.1%
Change
14.1%
-3.4%
-15.6%
!
-12.6%
14.8%
3.1%
N/A
30.3%
-3.4%
47.1%
-15.6%
N/A
4.7%
3.1%
N/A
Y-o-Y
47.1%
4.8%
% Y-o-Y
Change
N/A
6.9%
% Change
!
N/A
4.8%
!

32,950
229,582
60,650
0
183,746
60,650
0
229,582
63,168
00
Direct
183,746
872,420
00
Direct
Available
63,168
Available
1,325,417
Space
00
Direct
Space
872,420
188,629
Available
00
Space
1,325,417
626,910
0
326,796
45,854
4,005,290
188,629
4,193,734
45,854
782,582
174,973
626,910
78,603
174,973
0
5,220
4,193,734
4,005,290
1,572,959
5,220
32,950
447,686
78,603
1,502,930
447,686
0
1,572,959
3,060,613
Direct
0
229,582
1,502,930
Available
3,024,241
734,383
Space
183,746
3,060,613
Direct
1,999,825
734,383
63,168
3,024,241
Available
1,268,518
60,650
Space
872,420
1,999,825
2,948,046
0
1,325,417
1,268,518
275,759
60,650
0
188,629
2,948,046
0
Direct
275,759
20,552,138
Available
Direct
0
4,005,290
Space
Available
0
20,552,138
Space

Sublease
1,189,545
35,877
34,003
0
Sublease
Available
532,162
Available
128,277
00
Space
Sublease
Space
35,877
Available
00
Space
128,277
6,600
0
00
4,363,478
00
722,152
6,600
00
0
4,363,478
0
22,197
361,405
0
0
22,197
275,157
0
A649,157
0
275,157
0
744,903
0
Sublease
0
Available
1,189,545
0
31,811
350,687
Space
532,162
0
Sublease
350,687
0
Available
35,877
31,811
19,330
31,788
Space
128,277
0
34,003
0
0
31,788
19,330
0
Sublease
0
70,199
34,003
Available
0
Sublease
4,363,478
Space
Available
0
70,199
Space

0
6,600
0
6,600
0
0
00
Sublease
0
22,197
00
Sublease
Available
0
Available
275,157
Space
00
Sublease
Space
22,197
0
Available
00
Space
275,157
25,930
00
19,330
350,687
0
756,155
0
34,003
31,811
25,930
0
31,811
0
756,155
350,687
361,405
31,788
00
649,157
31,788
0
361,405
744,903
Sublease
00
649,157
Available
1,189,545
70,199
Space
0
744,903
Sublease
563,973
70,199
0
1,189,545
Available
58,074
6,600
Space
22,197
563,973
435,222
0
275,157
58,074
6,600
00
0
435,222
0
Sublease
0
4,784,364
Available
Sublease
0
350,687
Space
Available
0
4,784,364
Space

3.0%
7.5%
5.7%
0.0%
10.3%
5.7%
0.0%
7.5%
2.1%
0.0%
0.0%
Direct
10.3%
15.1%
0.0%
Direct
0.0%
Vacancy
2.1%
Vacancy
9.3%
Rate
0.0%
Direct
0.0%
Rate
%
15.1%
18.7%
Vacancy
0.0%
0.0%
Rate
9.3%
4.4%
0.0%
5.1%
12.4%
9.0%
18.7%
9.5%
12.4%
10.8%
7.5%
4.4%
2.9%
7.5%
0.0%
0.2%
9.5%
9.0%
8.3%
0.2%
3.0%
4.7%
2.9%
6.9%
4.7%
0.0%
8.3%
12.4%
Direct
0.0%
7.5%
6.9%
Vacancy
7.5%
4.6%
Rate
10.3%
12.4%
Direct
7.8%
4.6%
2.1%
7.5%
Vacancy
8.7%
5.7%
Rate
15.1%
7.8%
9.4%
0.0%
9.3%
8.7%
7.8%
5.7%
0.0%
18.7%
9.4%
0.0%
Direct
7.8%
8.5%
Vacancy
Direct
0.0%
9.0%
Rate
Vacancy
0.0%
8.5%
Rate

30 3% n he pas 12 mon hs offices a 1372

B oadway p ev ous y occup ed by L & Fung
wen back on he ma ke a e he g oba
ad ng g oup chose o conso da e a he
Emp e S a e Bu d ng The dea effec ve y
added 100 000 squa e ee on o he ma ke
wh e e eva ng he yea ove yea change n
N/A ava ab 45,854
0 y n T mes 0Squa e Sou
0.0% h o 30 30.0%
165.6%
12.4%
-38.9%
626,910
25,930
4.4%
0.2%
N/A
0
0.0%
0.0%
102.1%
174,973
31,811
7.5%
1.4%
-38.9%
626,910
25,930
0.2%
-10.1%
4,193,734
9.5%
1.7%
pe
cen sa 756,155
d0M McCa 4.4%
hy
0
756,155
0
Sublease
31,811
Available
31,788
0
361,405
Space
0
361,405
649,157

12.4%
0.2%
9.5%
2.9%
Direct
7.5%
Vacancy
4.7%
2.9%
8.3%
Rate
0.2%
0.0%
8.3%
6.9%

0.0%
1.7%
0.0%
Sublease
1.4%
Vacancy
0.3%
0.0%
1.9%
Rate
0.0%
1.9%
3.0%

479,474
2,152,087
3,805,516
67,250
804,582
0
3,805,516
4,213,786
0
4,213,786
2,563,798
0
804,582
2,563,798
1,326,592
0
1,326,592
3,383,268
0
3,383,268
275,759
0
Total
275,759
Available
45,854
25,336,502
Space
206,784
Total
25,336,502
Available
5,220
652,840
Space
479,474
4,949,889
0
652,840
78,603

-28.1%
18.6%
11.3%
-15.6%
-12.4%
N/A
11.3%
14.1%
N/A
14.1%
14.8%
N/A
-12.4%
14.8%
-3.4%
N/A
-3.4%
3.1%
N/A
3.1%
47.1%
N/A
Y-o-Y
47.1%
% 165.6%
Change
4.8%
!
102.1%
Y-o-Y
4.8%
% Change
-88.8%
-38.9%
!
-28.1%
-10.1%
N/A
-38.9%
20.2%

447,686
1,502,930
3,060,613
60,650
734,383
0
3,060,613
3,024,241
0
3,024,241
1,999,825
0
734,383
1,999,825
1,268,518
0
1,268,518
2,948,046
0
2,948,046
275,759
0
Direct
275,759
Available
45,854
20,552,138
Space
174,973
Direct
20,552,138
Available
5,220
626,910
Space
447,686
4,193,734
0
626,910
78,603

31,788
649,157
744,903
6,600
70,199
0
744,903
1,189,545
0
1,189,545
563,973
0
70,199
563,973
58,074
0
58,074
435,222
0
435,222
00
Sublease
0
Available
0
4,784,364
Space
31,811
Sublease
4,784,364

4.7%
6.9%
12.4%
5.7%
4.6%
0.0%
12.4%
7.5%
0.0%
7.5%
7.8%
0.0%
4.6%
7.8%
8.7%
0.0%
8.7%
9.4%
0.0%
9.4%
7.8%
0.0%
Direct
7.8%
Vacancy
12.4%
8.5%
Rate
7.5%
Direct
8.5%

0.3%
3.0%
3.0%
0.6%
0.4%
0.0%
3.0%
3.0%
0.0%
3.0%
2.2%
0.0%
0.4%
2.2%
0.4%
0.0%
0.4%
1.4%
0.0%
1.4%
0.0%
0.0%
Sublease
0.0%
Vacancy
0.0%
2.0%
Rate
1.4%
Sublease
2.0%

1,934,364
3,805,516

27.3%
11.3%

1,572,959
3,060,613

361,405
744,903

8.3%
12.4%

2,152,087
4,213,786

18.6%
14.1%

1,502,930
3,024,241

649,157
1,189,545

6.9%
7.5%

T mes Squa e Sou h Ove he pas seve a yea s he ech ndus y has
ca ved a pa h ac oss M d own Sou h bu as he ma ke gh ens and en
nc eases n he a ea bus nesses a e nc eas ng y head ng o T mes Squa e
Number
Available
20 ofh Known
2,226,447
0 ke
0.2%
Sou
he subma
s boVacancy
de
83
14,366,499a e na ve y as Che sea No h
25,930
4.4% ed
Buildings
Space
Rate
Inventory
73
9,600,346
31,788
4.7%
137
43,970,528
756,155
by 42nd S55,000ee and he Hudson R ve a he way o he0Avenue o 9.5%
he
1
0.0%
83
14,366,499
25,930
4.4%
16
2,669,648
0
2.9%
Ame
cas43,970,528
sa d M McCa
hy The-10.1%
subma ke4,193,734
s a so no 756,155
ab e o boas
ng
137
4,949,889
9.5%
61
18,894,525
1,934,364
27.3%
1,572,959
361,405
8.3%
151
15,959,466
804,582
-12.4%
734,383
70,199
4.6%
16
2,669,648s ock o2,152,087
78,603
20.2%
78,603d ngs n 649,157
2.9%
30 he a ges
21,652,799
18.6%
1,502,930
6.9%
C ass B and
C ass C bu
a 0 o M d own

Penn Station
Murray
Hill
Submarket
Times Square South
Grand Central
Lincoln
Center
y space that can be occupied
within sixHill
months from the end of the current month is included in statistics.
Murray
United
Nations

y space that can be occupied within six months from the end of the current month is included in statistics.

Grand
Central
East Side

Totals
shman and Wakefield Research
Services

United
Nations
ParkServices
Avenue
shman and Wakefield Research
East
Side Fifth
Madison/
MIDTOWN

61
18,894,525
24,670,627
NEW YORK121
OFFICE MARKET
Park
Avenue
30
21,652,799
6
Ave/
Rock
Cntr
73
40,154,243
Overall
Statistical
Summary
Madison/
Westside Fifth
6
Ave/
Rock Cntr
Penn
Station

3.0%
7.5%
6.3%
0.0%
10.3%
6.3%
0.0%
7.5%
2.1%
0.0%
0.0%
Total
10.3%
15.5%
0.0%
Total
0.0%
Vacancy
2.1%
Vacancy
11.2%
Rate
0.0%
Total
0.0%
Rate
%
15.5%
18.7%
Vacancy
0.0%
0.0%
Rate
11.2%
4.5%
0.0%
5.4%
12.4%
9.8%
18.7%
11.3%
12.4%
11.2%
8.9%
4.5%
2.9%
8.9%
0.0%
0.2%
11.3%
9.8%
10.2%
0.2%
3.0%
5.0%
2.9%
9.9%
5.0%
0.0%
10.2%
15.4%
Total
0.0%
7.5%
9.9%
Vacancy
10.5%
5.0%
Rate
10.3%
15.4%
Total
9.9%
5.0%
2.1%
10.5%
Vacancy
9.1%
6.3%
Rate
15.5%
9.9%
10.8%
0.0%
11.2%
9.1%
7.8%
6.3%
0.0%
18.7%
10.8%
0.0%
Total
7.8%
10.5%
Vacancy
Total
0.0%
9.8%
Rate
Vacancy
0.0%
10.5%
Rate

%
%

%
%
%

%
%

1.6%
1.4%
-0.3%
1.6%
1.1%
-0.3%
2.4%
Y-o-Y
1.4%
1.9%
2.4%
Y-o-Y
0.0%
Pt.
Change
Pt.-1.1%
Change
1.1%
0.0%
!
Y-o-Y
-4.5%
!
%
Pt.-4.5%
Change
1.9%
3.2%
0.0%
!
-1.1%
-1.2%
0.0%
1.2%
-5.5%
0.5%
3.2%
0.0%
1.2%
-3.2%
-2.1%
-1.2%
0.0%
-3.2%
-1.7%
1.1%
0.0%
0.5%
-11.4%
-1.7%
-2.2%
2.8%
0.0%
0.0%
-2.2%
2.6%
1.6%
-11.4%
0.0%
2.6%
0.8%
!
1.6%
0.0%
Y-o-Y
4.2%
0.8%
Pt.1.4%
Change
0.0%
4.5%
0.6%
!
1.1%
4.2%
Y-o-Y
0.6%
Pt.-1.9%
Change
1.9%
4.5%
-0.3%
-2.0%
!
-1.1%
-1.9%
2.4%
0.0%
3.2%
-2.0%
-0.3%
0.0%
Y-o-Y
0.0%
-0.8%
Pt.
Change
2.4%
Y-o-Y
-4.5%
0.5%
Pt.0.0%
Change
!
-0.8%

%
%
%

-4.5%
1.2%
-1.2%
0.0%
-3.2%
-1.2%
0.0%
1.2%
-1.7%
0.0%
0.0%
Y-o-Y
-3.2%
-2.2%
Y-o-Y
0.0%
Pt.
Change
-11.4%
Pt.-1.7%
Change
2.6%
!
Y-o-Y
-11.4%
0.0%
!
%
Pt.-2.2%
Change
0.8%
0.0%
0.0%
!
2.6%
-2.9%
0.0%
-0.3%
4.2%
0.6%
0.8%
-1.4%
4.2%
2.4%
4.5%
-2.9%
0.7%
4.5%
0.0%
-1.9%
-1.4%
0.6%
2.3%
-1.9%
-4.5%
-2.0%
0.7%
1.6%
-2.0%
0.0%
2.3%
Y-o-Y
1.6%
0.0%
1.2%
Pt.1.6%
Change
1.2%
-0.8%
!
-3.2%
1.6%
Y-o-Y
1.1%
-0.8%
Pt.-1.7%
Change
1.2%
-0.3%
-1.2%
!
-2.2%
1.1%
0.3%
0.0%
2.6%
-0.3%
2.5%
-1.2%
0.0%
0.8%
0.3%
0.0%
Y-o-Y
-11.4%
2.5%
0.5%
Pt.
Change
Y-o-Y
0.0%
0.6%
Pt.!
Change
-11.4%
0.0%
0.5%
!

Rental
Rate
$58.22
Sublease
$69.61
$41.02
Wtd.
Avg.
$69.61
$62.68
Rental
Rate
$31.67
$62.68
$61.11
$39.66
$61.11
$56.78
$31.67
N/A
$56.78
$48.45
$39.66
N/A
Sublease
$48.45
$63.81
N/A
Wtd.
Avg.
N/A
$63.81
Rental
N/ARate
N/A
Sublease
N/A
N/A
Wtd.
Avg.
N/A
$59.71
Rental
N/ARate
Sublease
N/A
$59.71
N/A
Wtd.
Avg.
$39.48
N/ARate
Rental
N/A
$44.01
$47.31
$39.48
$0.00
N/A
$44.01
$47.31
$58.22
Sublease
$0.00
$41.02
Wtd.
Avg.
Sublease
N/A
$69.61
Rental
Rate
Wtd. Avg.
$58.22
$62.68
$41.02
Rental
Rate
$69.61
$61.11
$31.67

h s one bu d ng has b g mpac

$100.22
$67.46
$43.19
$49.76
Direct
$80.09
$57.40
$49.76
N/A
Direct
Wtd.
Avg.
$67.46
Wtd.
Avg.
$72.46
N/A
Rental
Rate
$53.46
Direct
Rental Rate
$57.40
$47.75
Wtd.
Avg.
$53.46
N/A
Rental
Rate
$72.46
$34.38
N/A
$65.69
$52.39
$73.97
$47.75
N/A
$65.69
$52.29
$58.48
$34.38
N/A
$52.29
$50.70
$49.60
N/A
$73.97
N/A
$50.70
$39.26
$63.11
N/A
D
N/A
$39.26
$44.44
N/A
W$81.86
A
N/A
$44.44
$41.47
$100.22
N/A
Direct
$38.29
$41.47
Wtd.
Avg.
$80.09
N/A
$36.93
$45.55
Rental
Rate
$67.46
$38.29
Direct
$45.55
$29.13
Wtd.
Avg.
$57.40
$36.93
$43.19
$37.02
Rental
Rate
$72.46
$29.13
$49.76
N/A
$47.75
$37.02
$43.19
N/A
Direct
N/A
$36.46
$49.76
Wtd.
Avg.
$53.46
Direct
$73.97
Rental
Rate
Wtd.
Avg.
N/A
$36.46
Rental
Rate
$53.46
$65.69
$34.38
N/A
$52.29
$34.38
N/A
$65.69
$50.70
N/A
N/A
Direct
$52.29
$39.26
N/A
Direct
N/A
Wtd.
Avg.
$50.70
Wtd.
Avg.
$44.44
Rental
Rate
N/A
Direct
N/ARate
Rental
$39.26
$41.47
Wtd.
Avg.
N/A
N/ARate
Rental
$44.44
$46.07
N/A
$43.19
$38.29
$45.55
$41.47
$57.23
$38.29
$49.76
$36.93
$46.07
$49.60
$36.93
N/A
$29.13
$57.23
$45.55
$62.90
$29.13
$53.46
$37.02
$49.60
$81.86
$37.02
N/A
$62.90
$98.36
Direct
N/A
$65.69
$81.86
Wtd.
Avg.
$78.04
$36.46
Rental
Rate
$52.29
$98.36
Direct
$64.54
$36.46
$50.70
$78.04
Wtd.
Avg.
$45.59
$34.38
Rental
Rate
$39.26
$64.54
$54.70
N/A
$44.44
$45.59
$43.45
$34.38
N/A
$41.47
$54.70
N/A
Direct
$43.45
$67.61
Wtd.
Avg.
Direct
N/A
$45.55
Rental
Rate
Wtd. Avg.
N/A
$67.61
Rental
Rate
N/A
$38.29
$46.07
N/A
$36.93
$46.07
$57.23

$62.68
$56.78
$31.67
$39.66
Sublease
$61.11
$48.45
$39.66
N/A
Sublease
Wtd.
Avg.
$56.78
Wtd.
Avg.
$63.81
N/A
Rental
Rate
N/A
Sublease
Rental Rate
$48.45
Wtd.
Avg.
N/A
N/A
Rental
Rate
$63.81
$36.00
N/A
N/A
N/A
$59.71
N/A
N/A
$47.31
$36.00
N/A
N/A
N/A
$59.71
N/A
$39.48
$58.22
N/A
N/A
$39.48
$44.01
N/A
W$69.61
A
N/A
$44.01
$0.00
$62.68
N/A
Sublease
N/A
$0.00
Wtd.
Avg.
$61.11
N/A
N/ARate
$41.02
Rental
$56.78
N/A
Sublease
$41.02
N/A
Wtd.
Avg.
$48.45
N/A
$31.67
$32.75
Rental
Rate
$63.81
N/A
$39.66
N/A
N/A
$32.75
$31.67
N/A
Sublease
N/A
$33.69
$39.66
Wtd.
Avg.
N/A
Sublease
$59.71
Rental
Rate
Wtd.
Avg.
N/A
$33.69
Rental
Rate
N/A
$36.00
N/A
$36.00
N/A
N/A
N/A
N/A
Sublease
N/A
$39.48
N/A
Sublease
N/A
Wtd.
Avg.
N/A
Wtd.
Avg.
$44.01
Rental
Rate
N/A
Sublease
N/ARate
Rental
$39.48
$0.00
Wtd.
Avg.
N/A
N/ARate
Rental
$44.01
$33.05
N/A
$31.67
N/A
$41.02
$0.00
$46.86
N/A
$39.66
N/A
$33.05
N/A
N/A
N/A
$46.86
$41.02
$58.22
N/A
$32.75
N/A
$69.61
$32.75
N/A
$58.22
$62.68
Sublease
N/A
N/A
$69.61
Wtd.
Avg.
$61.11
$33.69
Rental
N/ARate
$62.68
Sublease
$56.78
$33.69
N/A
$61.11
Wtd.
Avg.
$45.02
$36.00
Rental
Rate
$39.48
$56.78
$51.55
N/A
$44.01
$45.02
N/A
$36.00
N/A
$0.00
$51.55
N/A
Sublease
N/A
$58.65
Wtd.
Avg.
Sublease
N/A
$41.02
Rental
Rate
Wtd. Avg.
N/A
$58.65
Rental
Rate
N/A
$33.05

$96.52
$65.24
$42.64
$49.38
Total
$74.45
$56.62
$49.38
N/A
Total
Wtd.
Avg.
$65.24
Wtd.
Avg.
$71.95
N/A
Rental
Rate
$53.46
Total
Rental Rate
$56.62
$47.75
Wtd.
Avg.
$53.46
N/A
Rental
Rate
$71.95
$34.57
N/A
$65.69
$52.39
$71.76
$47.75
N/A
$65.69
$52.29
$57.40
$34.57
N/A
$52.29
$50.70
$49.60
N/A
$71.76
N/A
$50.70
$39.27
$62.63
N/A
N/A
$39.27
$44.42
N/A
W$79.30
A
N/A
$44.42
$41.47
$96.52
N/A
Total
$38.29
$41.47
Wtd.
Avg.
$74.45
N/A
$36.93
$45.39
Rental
Rate
$65.24
$38.29
Total
$45.39
$29.13
Wtd.
Avg.
$56.62
$36.93
$42.64
$36.72
Rental
Rate
$71.95
$29.13
$49.38
N/A
$47.75
$36.72
$42.64
N/A
Total
N/A
$36.29
$49.38
Wtd.
Avg.
$53.46
Total
$71.76
Rental
Rate
Wtd.
Avg.
N/A
$36.29
Rental
Rate
$53.46
$65.69
$34.57
N/A
$52.29
$34.57
N/A
$65.69
$50.70
N/A
N/A
Total
$52.29
$39.27
N/A
Total
N/A
Wtd.
Avg.
$50.70
Wtd.
Avg.
$44.42
Rental
Rate
N/A
Total
N/ARate
Rental
$39.27
$41.47
Wtd.
Avg.
N/A
N/ARate
Rental
$44.42
$45.59
N/A
$42.64
$38.29
$45.39
$41.47
$56.31
$38.29
$49.38
$36.93
$45.59
$49.60
$36.93
N/A
$29.13
$56.31
$45.39
$62.45
$29.13
$53.46
$36.72
$49.60
$79.30
$36.72
N/A
$62.45
$95.01
Total
N/A
$65.69
$79.30
Wtd.
Avg.
$73.27
$36.29
Rental
Rate
$52.29
$95.01
Total
$63.07
$36.29
$50.70
$73.27
Wtd.
Avg.
$45.56
$34.57
Rental
Rate
$39.27
$63.07
$54.53
N/A
$44.42
$45.56
$43.45
$34.57
N/A
$41.47
$54.53
N/A
Total
$43.45
$66.42
Wtd.
Avg.
Total
N/A
$45.39
Rental
Rate
Wtd. Avg.
N/A
$66.42
Rental
Rate
N/A
$38.29
$45.59
N/A
$36.93
$45.59
$56.31

Y-o-Y
1.6%
0.9%
3.5%
% Change
0.9%
-0.3%
-0.4%
-0.3%
6.2%
9.6%
6.2%
5.0%
-0.4%
N/A
5.0%
3.4%
9.6%
-0.7%
3.4%
N/A
% 2.0%
N/A
2.0%
6.1%
-0.7%
Y-o-Y
13.8%
6.1%
N/A
% Change
-2.4%
2.9%
13.8%
Y-o-Y
2.4%
2.9%
% Change
-2.4%
2.5%
5.4%
!
2.4%
4.8%
0.4%
2.5%
0.9%
5.4%
18.1%
4.8%
0.4%
Y-o-Y
1.6%
0.9%
3.5%
% Y-o-Y
Change
18.1%
0.9%
% Change
!
1.6%
-0.3%
3.5%

0.9%
6.2%
-0.4%
-0.3%
5.0%
-0.4%
9.6%
Y-o-Y
6.2%
3.4%
9.6%
N/A
% Y-o-Y
Change
% Change
5.0%
2.0%
N/A
!
Y-o-Y
-0.7%

!%
% Change
3.4%
6.1%
-0.7%
N/A
!
2.0%
5.9%
N/A

13.8%
5.4%
2.9%
6.1%
N/A
13.8%
-2.4%
0.4%
5.9%
N/A
-2.4%
2.4%
18.1%
N/A
2.9%
N/A
2.4%
2.5%
1.6%
N/A
N/A
2.5%
4.8%
% 0.9%
N/A
N/A
4.8%
0.9%
!
-0.3%
N/A
Y-o-Y
9.5%
0.9%
% Change
6.2%
N/A
13.4%
3.5%
!
5.0%
9.5%
Y-o-Y
3.5%
-19.5%
% Change
3.4%
13.4%
-0.4%
3.3%
!
2.0%
-19.5%
9.6%
N/A
6.1%
3.3%
-0.4%
N/A
Y-o-Y
N/A
3.7%
% Y-o-Y
Change
9.6%
-0.7%
2.9%
% Change
!
N/A
3.7%

-0.7%
13.8%
5.9%
N/A
-2.4%
5.9%
N/A
13.8%
2.4%
N/A
N/A
Y-o-Y
-2.4%
2.5%
N/A
% Y-o-Y
Change
N/A
% Change
2.4%
4.8%
!
Y-o-Y
N/A
N/A
!%
% Change
2.5%
0.9%
N/A
N/A
!
4.8%
-1.0%
N/A
-0.4%
9.5%
3.5%
0.9%
1.2%
9.5%
9.6%
13.4%
-1.0%
18.1%
13.4%
N/A
-19.5%
1.2%
3.5%
2.2%
-19.5%
-0.7%
3.3%
18.1%
0.9%
3.3%
N/A
2.2%
Y-o-Y
0.2%
N/A
13.8%
0.9%
% Change
6.7%
3.7%
!
-2.4%
0.2%
Y-o-Y
5.0%
3.7%
2.4%
% Change
6.7%
8.3%
5.9%
!
2.5%
5.0%
2.5%
N/A
4.8%
8.3%
5.3%
5.9%
N/A
0.9%
2.5%
N/A
Y-o-Y
5.3%
3.7%
% Y-o-Y
Change
N/A
3.5%
% Change
!
N/A
3.7%
!

65,434
314,842
e 2012
(70,695)
65,434
(274,029)
(70,695)
Year-to-Date
(47,257)
Total(274,029)
Absorption
(265,335)
Rate
(47,257)
(311,470)

d Qu

$72 46 s p obab y no co nc dence ha

83,528
(265,335)
(39,646) bu d ng
(119,020)
11 T mes Squa e he office
ha
108,286
112,947
(397,344)
(311,470)
(121,687)
(149,564)
(241,627)
(240,094)
has so d ama ca y affec
ed
vacancy
a es
(39,646)
(119,020)
110,865
65,944
0
0
Third Quarter
2012
(149,564)
n T mes Squa e Sou h (121,687)
s a Third
so he
ead
Quarter
2012
(29,600)
(29,600)
21,876
21,876 ng
110,865
65,944
0
0
cause o he subma keYear-to-Date
s h gh en Year-to-Date
a(820,750)
a es
(29,600)
(29,600)
339,271
Direct
Absorption
Total
Absorption
(98,219)
(95,645)
Year-to-Date
Year-to-Date
Rateo
They e ask ng anywhe
e omTotal
$85
Direct Rate
Absorption
Absorption
39,616
43,403
339,271
(820,750)
Rate
Rate
!
104,554
-48.3%
43,236 so ha s43,236
$90 and s-72.0%
a o o space
wha
396,679
309,198 Third Quarter
314,842 2012
261,422
29.0%
(117,724)
(112,804)
396,679
-72.0%
309,198
314,842
1,388,674
-46.4% ave age
330,352
65,434
pushes hose
en s sa d(429,924)
M
765,422
-8.9%
(229,516)
Third
Quarter
1,388,674
-46.4%
330,352
65,434
12,135
-22.8%
(70,695)
(70,695)2012
Year-to-Date
Year-to-Date
Year-to-Date
McCa
hy%Y-o-Y
you veDirect
go
600 000
squa
4,460
-35.0%
(17,104)
(17,104) e
12,135
-22.8%
(70,695)
(70,695)
Change
637,507
-33.7%
(103,642)
Leasing
Absorption
Total(274,029)
Absorption
Activity
Rate
Rate
!
Y-o-Y
637,507
-33.7%
(103,642)
(274,029)
Year-to-Date
ee ave ag%-14.7%
ng
ha
ha
932,581
-3.9% a $87 Year-to-Date
267,942s abou Year-to-Date
(47,257)he
2,056,916
(491,176)
(674,109)
Change
Leasing
Direct
Absorption
Total
Absorption
932,581
-3.9%
267,942
(47,257)
1,186,477
-30.0%
83,528
(265,335)
Activity
Rate
Rate
!
space
on he-30.0%
ma ke n 108,286
ha subma (265,335)
ke
410,378
53.2%
112,947 so
1,186,477
83,528
1,235,178
-29.9%
(397,344)
(311,470)
335,191
-44.2%
(241,627) Th d Qu (240,094)
e 2012
1,235,178
-29.9%
(397,344)
(311,470)
ha
s
why
s
so
h
gh

794,359
-55.0%
(39,646)
(119,020)
410,378
53.2%
108,286
112,947

Year-to-Date
1,235,178
196,418
335,191
0
Year-to-Date
Leasing
794,359
Leasing
267,578
0
Activity
33,126
Year-to-Date
Activity
196,418
Leasing
33,126
00
Activity
267,578
27,506
0
46,841
396,679
7,047,586
0
46,841
95,522
1,388,674
27,506
0
95,522
104,554
12,135
0
7,047,586
0
104,554
261,422
637,507
0
0 D
261,422
765,422
932,581
0
0
765,422
A
4,460
1,186,477
0
Year-to-Date
48,967
4,460
Leasing
1,235,178
0
117,239
2,056,916
Activity
794,359
48,967
Year-to-Date
2,056,916
46,086
Leasing
196,418
117,239
410,378
358,347
Activity
267,578
46,086
335,191
0
0
358,347
410,378
0
Year-to-Date
0
598,145
335,191
Leasing
33,126
Year-to-Date
7,047,586
Activity
Leasing
0
598,145
Activity
33,126
46,841
27,506
0
95,522
27,506
0
46,841
104,554
00
Year-to-Date
95,522
261,422
00
Year-to-Date
Leasing
104,554
Leasing
765,422
Activity
00
Year-to-Date
Activity
261,422
4,460
Leasing
00
Activity
765,422
834,563
0
410,378
48,967
2,056,916
4,460
1,723,865
48,967
335,191
117,239
834,563
12,135
117,239
0
46,086
1,723,865
2,056,916
670,633
46,086
33,126
358,347
12,135
932,581
358,347
0
670,633
1,233,318
Year-to-Date
0
46,841
932,581
Leasing
1,379,667
598,145
Activity
95,522
1,233,318
Year-to-Date
1,016,152
598,145
104,554
1,379,667
Leasing
503,926
27,506
Activity
261,422
1,016,152
1,391,347
0
765,422
503,926
4,460
27,506
0
4,460
1,391,347
0
Year-to-Date
4,460
9,702,647
Leasing
Year-to-Date
0
2,056,916
Activity
Leasing
0
9,702,647
Activity

-3.9%
-29.9%
53.2%
-30.0%
-55.0%
53.2%
-44.2%
Y-o-Y
-29.9%
-0.5%
-44.2%
N/A
% Y-o-Y
Change
% -55.0%
Change
-56.0%
N/A
!
Y-o-Y
-43.6%

!%
% -100.0%
Change
-0.5%
-43.6%
N/A
!
-56.0%
-35.5%
N/A
-52.0%
-72.0%
-41.2%
-100.0%
N/A
-52.0%
-29.4%
-46.4%
-35.5%

N/A
-29.4%
-48.3%
-22.8%
N/A
-41.2%
N/A
-48.3%
29.0%
-33.7%
N/A
N/A
29.0%
-8.9%
% -3.9%
N/A
N/A
-8.9%
-35.0%
!
-30.0%
N/A
Y-o-Y
347.1%
-35.0%
% -29.9%
Change
N/A
18.3%
-14.7%
!
-55.0%
347.1%
Y-o-Y
-14.7%
-36.7%
% Change
-0.5%
18.3%
53.2%
-14.1%
!
-56.0%
-36.7%
-44.2%
N/A
-100.0%
-14.1%
53.2%
N/A
Y-o-Y
N/A
-7.0%
% Y-o-Y
Change
-44.2%
-43.6%
-41.2%
% Change
!
N/A
-7.0%

-43.6%
-52.0%
-35.5%
N/A
-29.4%
-35.5%
N/A
-52.0%
-48.3%
N/A
N/A
Y-o-Y
-29.4%
29.0%
N/A
% Y-o-Y
Change
N/A
% -48.3%
Change
-8.9%
!
Y-o-Y
N/A
N/A
!%
% -35.0%
Change
29.0%
N/A
N/A
!
-8.9%
-51.7%
N/A
53.2%
347.1%
-14.7%
-35.0%
-46.0%
347.1%
-44.2%
18.3%
-51.7%
-22.8%
18.3%
N/A
-36.7%
-46.0%
-14.7%
-34.3%
-36.7%
-43.6%
-14.1%
-22.8%
-3.9%
-14.1%
N/A
-34.3%
Y-o-Y
-31.2%
N/A
-3.9%
% -52.0%
Change
-27.7%
-7.0%
!
-29.4%
-31.2%
Y-o-Y
-50.8%
-7.0%
-48.3%
% -27.7%
Change
6.6%
-35.5%
!
29.0%
-50.8%
-25.4%
N/A
-8.9%
6.6%
-69.7%
-35.5%
N/A
-35.0%
-25.4%
N/A
Y-o-Y
-69.7%
%-35.5%
Change
Y-o-Y
N/A
-14.7%
% Change
!
N/A
-35.5%
!

0
(119,020)
(149,564)
(240,094)

Quarter
21,876D2012
(149,564)
65,944
0
A0
65,944

(29,600)
21,876
Quarter
(95,645)2012
Year-to-Date

(29,600)
0
Total Absorption
43,403
(820,750)
Rate
(95,645)
Year-to-Date
43,236
(820,750)
Total 43,403
Absorption
(112,804)
314,842
Rate
43,236
(429,924)
Quarter
65,434 2012
(112,804)
Quarter
(17,104)2012
314,842
(70,695)
(429,924)
65,434
(274,029)
Year-to-Date
(17,104)
(674,109)
Total
Absorption
Year-to-Date
(70,695)
(47,257)
Rate
Total Absorption
(274,029)
(265,335)
(674,109)
Rate
Quarter
(47,257)2012
(311,470)
Quarter
112,947 2012
(265,335)
(119,020)
112,947 2012
(240,094)
Quarter
Year-to-Date
(311,470)
(149,564)
(240,094)
0
Year-to-Date
Total
Absorption
Total(119,020)
Absorption
65,944
0
Rate
21,876
Year-to-Date
Rate
(29,600)
Total(149,564)
Absorption
21,876
0
Rate
65,944
(14,785)
0
(95,645)
314,842
(820,750)
(29,600)
0
(95,645)
43,403
65,434
Qu (14,785)
e 2012
0
43,403
43,236
(70,695)
0
(820,750)
0
43,236
(112,804)
(274,029)
0
Quarter
2012
0 D
(112,804)
(429,924)
(47,257)
A0
0
(429,924)
(17,104)
(265,335)
0
Quarter
2012
Year-to-Date
(10,838)
(17,104)
Total(311,470)
Absorption
0
(96,259)
(674,109)
Rate
(119,020)
(10,838)
Year-to-Date
(674,109)
25,616
Total(149,564)
Absorption
(96,259)
112,947
42,599
Rate 2012
Quarter
65,944
25,616
(240,094)
Quarter
2012
0
(29,600)
42,599
112,947
0
Year-to-Date
0
(53,667)
(240,094)
Total
Absorption
21,876
Year-to-Date
(820,750)
Rate
Total Absorption
0
(53,667)
Rate
21,876
(95,645)

(14,785)2012
Quarter
0
43,403
Quarter
2012
(14,785)
0
(95,645)
43,236 2012
Quarter
00

Year-to-Date
43,403
(112,804)
00
Year-to-Date
Total
Absorption
43,236
Total(429,924)
Absorption
Rate
00
Year-to-Date
Rate
(17,104)
Total(112,804)
Absorption
00
Rate
(429,924)
413,004
0
112,947
(10,838)
(674,109)
(17,104)
(174,660)
(10,838)
(240,094)
(96,259)
413,004
(70,695)
(96,259)
0
25,616
(174,660)
(674,109)
Quarter
(252,153)2012
25,616
21,876
42,599
(70,695)
(47,257)
42,599
0
(252,153)
Quarter
(360,980)2012
Year-to-Date
0
(95,645)
Total (47,257)
Absorption
(278,905)
(53,667)
Rate
43,403
(360,980)
Year-to-Date
(172,043)
(53,667)
43,236
Total(278,905)
Absorption
(236,752)
(14,785)
Rate
(112,804)
(172,043)
(321,381)
Quarter
2012
0
(429,924)
(236,752)
Quarter
2012
(46,704)
(14,785)
0
(17,104)
(321,381)
0
Year-to-Date
(46,704)
(1,548,526)
Total
Absorption
Year-to-Date
0
(674,109)
Rate
Total Absorption
0
(1,548,526)
Rate

8 9% A nega ve 8 9 pe cen eas ng

2% Compa ed w h o he M d own
ac v y ac oss C ass B office p ope es
subma %ke s he 5 pe cen vacancy a e
n T mes Squa e Sou h s among he
among C% ass C bu d ngs n T mes Squa e
hea h es n M d own And h nk ha
Sou h appea s sky h gh wh e he nega ve
con nues o benefi om he g ow h o he
2 pe cen yea ove yea change ooks huge
echno ogy sec o sa d M McCa hy You
The change
howeve
can
be
a
bu
ed
o
%
know Manha an ove a has aced some
633 Wes% 38 h S ee an office bu d ng
0.0%
0.0%
N/A
0he as
N/A
0 one
0
12.4%
4.2%
9.5%
48,967
347.1%
(10,838)
(10,838)
cha -1.0%
enges
ove 834,563
ew
mon hs bu
ha was aken
off he ma ke a e be ng
Third Quarter
2012
4.5%
-2.9%
-51.7%
402,699
413,004
0.0%
0.0%
N/A
N/A
0
N/A
0
0
8.9%
4.5%
13.4%
117,239
18.3%
(64,448)
(96,259)
4.5%
$33.05
-1.0%
834,563
-51.7%
402,699
413,004
11.3%
-1.4%
$46.86
1.2%b gh spo
1,723,865
-46.0%
88,725ke
(174,660)
o he
s n he 347.1%
ea
es a e ma
conve ed -2.9%
n o a ho e $38.29
The vacancy
a e $38.29
12.4%
4.2%
N/A
9.5%
48,967
(10,838)
(10,838)
0.2%
-1.9%
$29.13
$29.13
-19.5%
46,086
-36.7%
25,616
25,616
11.3%
-1.4%
$57.23
$46.86
$56.31
1.2%
1,723,865
-46.0%
88,725
(174,660)
Y-o-Y
Y-o-Y
Y-o-Y
2.9%
0.7%
$49.60
N/A
$49.60
18.1%
12,135
-22.8%
(70,695)
(70,695)
Total
Direct
Sublease
Total
Year-to-Date
Year-to-Date
% Pt.-2.0%
Change e Sou
Change
Change
has% been
heYear-to-Date
s Leasing
eng h o %echno
ogy
and
he Total
n10.2%
Squa
h C C ass
bu
8.9%
4.5%
$36.93
N/A
$36.93
13.4%
117,239
18.3%
(64,448)
(96,259)
Vacancy
Wtd.
Avg.
Wtd.
Avg. d ng Wtd.
Avg.
Direct
Absorption
Absorption
5.0%he T mes
$37.02
$32.75
$36.72
3.3%
358,347
-14.1%
24,094
42,599
2.9%
0.7%
$49.60
N/A
$49.60
18.1%
12,135
-22.8%
(70,695)
(70,695)
2.3%
$62.90
$58.22
$62.45
2.2%
670,633
-34.3%
(81,766)
(252,153)
Rate
Rental Rate
Rental Rate
Rental Rate
Activity
Rate
Rate
!
!
!
0.2%
-1.9%
$29.13
N/A
$29.13
-19.5%
46,086
-36.7%
25,616
25,616
0.0%
0.0%
N/A
N/A
N/A
0
N/A
0
10.2%
2.3%
$62.45
2.2%
(81,766)
(252,153)
9.9%
1.6%
$81.86
$69.61
$79.30
0.9%
932,581
-3.9%
267,942
(47,257)
demand
o 670,633
space
om-34.3%
hese fi ms
0
s down wo
pe cen $62.90
age
po n s $58.22
Tha
s
5.0%
-2.0%
$37.02
$32.75
$36.72
3.3%
358,347
-14.1%
24,094
42,599
9.9%
1.6%
$81.86
$69.61
$79.30
0.9%
932,581
-3.9%
267,942
(47,257)
15.4%
1.6%
$98.36
$62.68
$95.01
0.2%
1,233,318
-31.2%
(14,691)
(360,980)
6.3%he a ges-1.2%
$34.38
$36.00
$34.57
5.9%
27,506
-35.5%
(14,785)
(14,785)
d
op
o
a
bu
he
Eas
5.0%
-0.8%
$36.46
$33.69
$36.29
3.7%
598,145
-7.0%
(40,361)
(53,667)
0.0%
0.0%
N/A
N/AS de
N/A
N/A
0
N/A
0
0
15.4%
1.6%
$98.36
$62.68
$95.01
0.2%
1,233,318
-31.2%
(14,691)
(360,980)
10.5%
1.2%
$78.04
$61.11
$73.27
6.7%
1,379,667
-27.7%
(368,566)
(278,905)
0.0%
0.0%
N/A
N/A
N/A
N/A
0
N/A
0
0
10.5%
1.2%
$61.11
$73.27
6.7%
1,379,667
-27.7%
(368,566)
(278,905)
ke

9.9%
1.1% subma $78.04
$64.54
$56.78
$63.07
5.0%
1,016,152
-50.8%
(60,858)
(172,043)
0.0%
0.0%
N/A
N/A
N/A
N/A
0
N/A
0
0
5.0%
-0.8%
$36.46
$33.69
$36.29
3.7%
598,145
-7.0%
(40,361)
(53,667)
9.9%
9.1%
0.0%
9.1%
10.8%
0.0%
10.8%
7.8%
0.0%
Total
7.8%
Vacancy
12.4%
10.5%
Rate
8.9%
Total
10.5%

Vacancy
0.0%
0.2%
Rate
0.3%
1.7%
0.0%
0.2%
0.0%

Vacancy
0.2%
4.5%
Rate
5.0%
11.3%
0.0%
4.5%
2.9%

1.1%
-0.3%
-11.4%
-0.3%
0.3%
0.0%
0.3%
2.5%
0.0%
Y-o-Y
2.5%
% Pt.4.2%
Change
0.5%
!
4.5%
Y-o-Y
0.5%
% Pt.-1.9%
Change
-2.9%
!
-2.0%
-1.4%
0.0%
-2.9%
0.7%

$64.54
$45.59
N/A
$45.59
$54.70
N/A
$54.70
$43.45
N/A
Direct
$43.45
Wtd.
Avg.
$38.29
$67.61
Rental
Rate
$36.93
Direct
$67.61

$56.78
$45.02
N/A
$45.02
$51.55
N/A
$51.55
N/A
N/A
Sublease
N/A
Wtd.
Avg.
N/A
$58.65
Rental
Rate
N/A
Sublease
$58.65

Wtd.
Avg.
$29.13
$46.07
Rental
Rate
$37.02
$57.23
N/A
$46.07
$49.60

Wtd.
Avg.
N/A
$33.05
Rental
Rate
$32.75
$46.86
N/A
$33.05
N/A

$63.07
$45.56
N/A
$45.56
$54.53
N/A
$54.53
$43.45
N/A
Total
$43.45
Wtd.
Avg.
$38.29
$66.42
Rental
Rate
$36.93
Total
$66.42
Wtd.
Avg.
$29.13
$45.59
Rental Rate
$36.72
$56.31
N/A
$45.59
$49.60

5.0%
8.3%
N/A
8.3%
2.5%
N/A
2.5%
5.3%
N/A
Y-o-Y
5.3%
% Change
9.5%
3.7%
!
13.4%
Y-o-Y
3.7%
% Change
-19.5%
-1.0%
!
3.3%
1.2%
N/A
-1.0%
18.1%

1.7%
1.9%
0.4%
0.0%
3.0%

11.3%
10.2%
5.0%
2.9%
9.9%

-1.4%
2.3%
-0.8%
0.7%
1.6%

$57.23
$62.90
$36.46
$49.60
$81.86

$46.86
$58.22
$33.69
N/A
$69.61

$56.31
$62.45
$36.29
$49.60
$79.30

503,926
6.6%
(213,795)
(236,752)
1,391,347
(94,557)
0
N/A ng ac v
0 y o C ass(321,381)
0
14 1% Yea
o da e -25.4%
eas
1,391,347
-25.4%
(94,557)
(321,381)
4,460
-69.7%
(46,704)
(46,704)
0
N/A
0
0
ThirdnQuarter
2012
Y-o-Y
Year-to-Date
Year-to-Date
C T mesYear-to-Date
Squa
e
Sou
h
bu
d
ngs
c
ocked
a
4,460
-69.7%
(46,704)
(46,704)
% 347.1%
Change
Leasing
Direct(10,838)
Absorption
Total (10,838)
Absorption
48,967
9,702,647
-35.5%
(192,266)
(1,548,526)
Activity
Rate
Rate
!
358 347Year-to-Date
squa
down 14 1Year-to-Date
pe
cen om
117,239 e ee Y-o-Y
18.3%
(64,448)
(96,259)
Year-to-Date
9,702,647
-35.5%
(192,266)
(1,548,526)
% Change
Leasing
Direct25,616
Absorption
Total 25,616
Absorption
-36.7%
as yea Activity
46,086
n a ma ke
a M d own
834,563
-51.7%
413,004
Rate
Rate
!whe e ove402,699
358,347
-14.1%
24,094
42,599
1,723,865
-46.0%
88,725
(174,660)
eas ng s down
35 peN/Acen
s no0 so bad 0
0
834,563
-51.7%
402,699
413,004
12,135
-22.8%
(70,695)
(70,695)
sa d M 1,723,865
McCa
hy So
sa
e b be e (174,660)
1.2%
-46.0%
88,725
2.2%
670,633
-34.3%
(81,766)
(252,153)
3.7%
598,145
-7.0%
(40,361)
(53,667)
18.1%
12,135
(70,695)
(70,695)
0.9%
932,581
-3.9%
267,942
(47,257)
s s down-22.8%
bu no much

1,016,152
503,926
0

-50.8%
6.6%
N/A

(60,858)
(213,795)
0
Third

(172,043)
(236,752)

1.9%
3.0%

10.2%
15.4%

2.3%
1.6%

$62.90
$98.36

$58.22
$62.68

$62.45
$95.01

2.2%
0.2%

670,633
1,233,318

-34.3%
-31.2%

(81,766)
(14,691)

3.0%

9.9%
10.5%

1.6%
1.2%

$81.86
$78.04

$69.61
$61.11

$79.30
$73.27

0.9%
6.7%

932,581
1,379,667

-3.9%
-27.7%

267,942
(368,566)
Third

0
Quarter
2012

(252,153)
(360,980)
(47,257)
(278,905)
Quarter
2012

24,670,627
25,786,088

3,805,516
2,563,798

11.3%
14.8%

3,060,613
1,999,825

744,903
563,973

12.4%
7.8%

3.0%
2.2%

15.4%
9.9%

1.6%
1.1%

$98.36
$64.54

$62.68
$56.78

$95.01
$63.07

0.2%
5.0%

1,233,318
1,016,152

-31.2%
-50.8%

(14,691)
(60,858)

(360,980)
(172,043)

73
45

40,154,243
14,591,335
25,786,088
31,235,607
Inventory
14,591,335
3,543,743

4,213,786
1,326,592
Total
2,563,798
Available
3,383,268
Space
1,326,592
275,759

14.1%
-3.4%
Y-o-Y
% Change
14.8%
3.1%

1,189,545
58,074
Sublease
563,973
Available
435,222
Space
58,074
0

7.5%
8.7%
Direct
7.8%
Vacancy
9.4%
Rate
8.7%
7.8%

3.0%
0.4%
Sublease
2.2%
Vacancy
1.4%
Rate
0.4%
0.0%

10.5%
9.1%
Total
9.9%
Vacancy
10.8%
Rate
9.1%
7.8%

1.2%
-0.3%
Y-o-Y
% Pt.1.1%
Change
0.3%

$61.11
$45.02
Sublease
$56.78
Wtd.
Avg.
$51.55
Rental Rate
$45.02
N/A

$73.27
$45.56
Total
$63.07
Wtd.
Avg.
$54.53
Rental Rate
$45.56
$43.45

!
8.3%
5.3%

1,379,667
503,926
Year-to-Date
1,016,152
Leasing
1,391,347
Activity
503,926
4,460

-27.7%
6.6%
Y-o-Y
% -50.8%
Change
-25.4%

!
-0.3%
2.5%

$78.04
$45.59
Direct
$64.54
Wtd.
Avg.
$54.70
Rental Rate
$45.59
$43.45

6.7%
8.3%
Y-o-Y
% Change
5.0%
2.5%

!
-3.4%
47.1%

3,024,241
1,268,518
Direct
1,999,825
Available
2,948,046
Space
1,268,518
275,759

!
6.6%
-69.7%

(368,566)
(213,795)
Year-to-Date
Direct(60,858)
Absorption
(94,557)
Rate
(213,795)
(46,704)

(278,905)
(236,752)
Year-to-Date
Total(172,043)
Absorption
(321,381)
Rate
(236,752)
(46,704)

31,235,607
14,366,499
241,535,642
3,543,743
43,970,528

3,383,268
652,840
25,336,502
275,759
4,949,889

3.1%
-38.9%
4.8%
47.1%
-10.1%

2,948,046
626,910
20,552,138
275,759
4,193,734

435,222
25,930
4,784,364
0
756,155

9.4%
4.4%
8.5%
7.8%
9.5%

1.4%
0.2%
2.0%
0.0%
1.7%

10.8%
4.5%
10.5%
7.8%
11.3%

0.3%
-2.9%
0.5%
2.5%
-1.4%

$54.70
$46.07
$67.61
$43.45
$57.23

$51.55
$33.05
$58.65
N/A
$46.86

$54.53
$45.59
$66.42
$43.45
$56.31

2.5%
-1.0%
3.7%
5.3%
1.2%

1,391,347
834,563
9,702,647
4,460
1,723,865

-25.4%
-51.7%
-35.5%
-69.7%
-46.0%

(94,557)
402,699
(192,266)
(46,704)
88,725

(321,381)
413,004
(1,548,526)
(46,704)
(174,660)

0
4,784,364

2.9%
8.5%

0.0%
2.0%

2.9%
10.5%

0.7%
0.5%

$49.60
$67.61

N/A
$58.65

$49.60
$66.42

18.1%
3.7%

12,135
9,702,647

-22.8%
-35.5%

(70,695)
(192,266)

(70,695)
(1,548,526)

361,405

8.3%

1.9%

10.2%

2.3%

$62.90

$58.22

$62.45

2.2%

670,633

-34.3%

(81,766)

(252,153)

147
83
799
15
137

20|October
2, 612012|The
Commercial
Observer1,572,959
East Side
18,894,525
1,934,364
27.3%
16
799

2,669,648
241,535,642

Park
Avenue
30month is included21,652,799
y space that can be occupied
within
six months from the end of the current
in statistics.
121

24,670,627

shman and Wakefield Research Services

y space that can be occupied
months
from the end of the current
in statistics.
6 within
Ave/six
Rock
Cntr
73month is included40,154,243

Westside

Total
10.5%
6.5%
11.2%
0.0%
Total
Vacancy
11.2%
Vacancy
17.8%
0.0%
Rate
3.0%
Total
Rate
%
6.5%
3.5%
Vacancy
3.0%
0.0%
Rate
17.8%
6.3%
0.0%
7.5%
3.5%
11.1%
3.5%
0.0%
7.5%
10.3%
11.3%
6.3%
0.0%
10.3%
2.1%
4.2%
0.0%
11.1%
0.0%
2.1%
15.5%
10.7%
0.0%
0.0%
15.5%
11.2%
9.9%
0.0%
0.0%
11.2%
18.7%
16.6%
0.0%
Total
12.4%
18.7%
Vacancy
10.5%
0.0%
8.9%
9.8%
Rate
11.2%
12.4%
Total
9.8%
0.2%
Vacancy
6.5%
8.9%
5.4%
5.0%
Rate
17.8%
0.2%
11.2%
0.0%
3.5%
5.0%
5.4%
0.0%
Total
0.0%
5.0%
11.2%
Vacancy
3.0%
Total
11.1%
Rate
Vacancy
0.0%
5.0%
Rate

2.4%
5.4%
2.5%
5.4%
0.4%

(149,564)

110,865 Third Quarter

65,944 2012
Year-to-Date
Year-to-Date
(29,600)
(29,600)
Direct Absorption
Total Absorption
Rate
Rate
Year-to-Date
Year-to-Date
339,271
(820,750)
Direct
Absorption
Total
Absorption
Rate
Rate
309,198
314,842

121
71

Times Square South

Murray Hill
Totals Center
Lincoln
Grand Central

Madison/ Fifth

Rate
10.7%
Total
9.9%
9.8%
Vacancy
9.9%
16.6%
Rate
5.4%
16.6%
10.5%
11.2%
10.5%
11.2%
5.4%
0.0%
11.2%
6.5%
11.2%
3.0%
Total
6.5%
17.8%
0.0%
Vacancy
0.0%
17.8%
Rate
3.5%
3.0%
7.5%
Total
3.5%
0.0%
Vacancy
10.3%
11.1%
Rate
7.5%
Total
2.1%
11.1%
10.3%
Vacancy
15.5%
3.5%
Rate
2.1%
11.2%
11.3%
15.5%
18.7%
3.5%
4.2%
11.2%
11.3%
10.7%
Total
18.7%
9.8%
Vacancy
Total
4.2%
9.9%
Rate
Vacancy
10.7%
16.6%
9.8%
Rate
9.9%
10.5%
5.4%
16.6%
11.2%
5.4%
11.2%

2.6%
-2.1%
1.1%
Y-o-Y
0.8%
Pt.1.1%
Change
2.8%
Y-o-Y
2.8%
1.6%
0.6%
Pt.
Change
1.6%
1.6%
-0.3%
1.6%
1.4%
2.4%
1.4%
1.1%
-0.3%
0.0%
1.1%
1.9%
2.4%
-4.5%
Y-o-Y
1.9%
0.0%
Pt.-1.1%
Change
0.0%
-1.1%
3.2%
-4.5%
Y-o-Y
1.2%
3.2%
Pt.0.0%
Change
-3.2%
0.5%
1.2%
Y-o-Y
-1.7%
0.5%
Pt.-3.2%
Change
-2.2%
-5.5%
!
-1.7%
2.6%
-2.1%
-2.2%
0.8%
-5.5%
1.1%
2.6%
-2.1%
Y-o-Y
2.8%
0.8%
0.6%
Pt.
Change
Y-o-Y
1.1%
1.6%
Pt.!
Change
2.8%
1.6%
0.6%
!

(119,020)

71 of
Number
147
Buildings
45
15

Westside
Times Square South
Submarket
Penn
Station
Lincoln
Center

United
Totals Nations

0.0%
0.6%
0.0%
0.6%
0.0%
0.0%
0.0%
0.0%
Sublease
0.0%
0.4%
0.0%
Sublease
0.0%
Vacancy
0.0%
Vacancy
1.9%
Rate
0.0%
Sublease
0.0%
Rate
%
0.4%
0.0%
Vacancy
0.0%
0.0%
Rate
1.9%
0.2%
0.0%
0.3%
0.0%
0.8%
0.0%
1.7%
0.0%
0.5%
1.4%
0.2%
0.0%
1.4%
0.0%
1.7%
0.8%
1.9%
0.0%
0.3%
0.0%
3.0%
0.3%
0.0%
1.9%
3.0%
Sublease
0.0%
0.0%
3.0%
Vacancy
3.0%
0.4%
Rate
0.0%
3.0%
Sublease
2.2%
0.4%
0.0%
3.0%
Vacancy
0.4%
0.6%
Rate
0.4%
2.2%
1.4%
0.0%
1.9%
0.4%
0.0%
0.6%
0.0%
0.0%
1.4%
0.0%
Sublease
0.0%
2.0%
Vacancy
Sublease
0.0%
0.8%
Rate
Vacancy
0.0%
2.0%
Rate

45,854
5,220
4,193,734
78,603
Direct
174,973
Available
447,686
78,603
1,572,959
Space
5,220
0
1,572,959
1,502,930

shman and Wakefield Research Services

9,600,346
21,652,799
24,670,627
1,070,823
15,959,466
55,000
24,670,627
40,154,243
272,576
40,154,243
25,786,088
0
MARKET
15,959,466
25,786,088
14,591,335
43,000
14,591,335
31,235,607
0
MARKET
31,235,607
3,543,743
0
3,543,743
368,885
241,535,642
Inventory
2,322,389
241,535,642

!%
%1097.2%
Change
40.7%
-60.4%
N/A
!
-6.0%
-15.6%
N/A

2,831,031
1,761,684
326,796
782,582
Direct
2,794,641
390,878
782,582
0
Direct
Available
1,761,684
Available
1,174,943
0
Space
32,950
Direct
Space
390,878
87,130
Available
32,950
0
Space
1,174,943
60,650
0
229,582
239,464
15,812,465
87,130
0
229,582
183,746
3,411,152
60,650
0
183,746
63,168
78,603
0
15,812,465
0
63,168
872,420
1,540,009
0
D 0
872,420
1,325,417
0
A1,502,930
0
1,325,417
188,629
2,831,031
0
Direct
45,854
188,629
Available
2,794,641
0
174,973
4,005,290
Space
1,761,684
45,854
Direct
4,005,290
5,220
Available
390,878
174,973
326,796
447,686
Space
1,174,943
5,220
782,582
0
87,130
447,686
326,796
0
Direct
0
734,383
782,582
Available
32,950
Direct
15,812,465
Space
Available
0
734,383
Space

165.6%
-88.8%
-10.1%
Y-o-Y
20.2%
% 102.1%
Change
-28.1%
20.2%
27.3%
!
-88.8%
N/A
27.3%
18.6%

Research
Services
yshman
space and
thatWakefield
can be occupied
within
six months from the end of the current month is included in statistics.

TimesAvenue
Square South
73
Park
30
Madison/
Fifth
121
Murray
Hill
22
Totals Center
151
Lincoln
1
Madison/
Fifth
121
6 Ave/ Central
Rock
Cntr
73
Grand
5
6
Ave/
Rock
Cntr
73
Westside
71
United
0
MIDTOWN
OFFICE
Totals Nations NEW YORK151
Westside
71
PennSide
Station
45
East
2
Overall
Statistical Summary
Penn
Station
45
Times
Square South
Park
Avenue
0
MIDTOWN
NEW YORK147
OFFICE
Times
Square
South
147
Lincoln
Center
15
Madison/
Fifth
0
Overall
Statistical Summary
Lincoln Center
15
Number
6 Ave/ Rock Cntr
7 of
Totals
799
Buildings
Submarket
Westside
21
Totals
799

18.6%
15.6%
-5.8%
10.7%
13.9%
-5.8%
25.5%
Y-o-Y
15.6%
40.7%
25.5%
N/A
% Y-o-Y
Change
% Change
13.9%
-6.0%
N/A
!
Y-o-Y
-60.4%

Space
1,540,009
Direct
1,502,930
4,005,290
Available
1,502,930
2,831,031
Space
326,796
2,831,031
2,794,641
782,582
2,794,641
1,761,684
326,796
0
1,761,684
390,878
782,582
32,950
Direct
390,878
1,174,943
0
Available
0
1,174,943
Space
87,130
32,950
229,582
Direct
87,130
0
Available
183,746
15,812,465
Space
229,582
Direct
63,168
15,812,465
183,746
Available
872,420
239,464
Space
63,168
1,325,417
3,411,152
872,420
188,629
239,464
78,603
1,325,417
3,411,152
1,540,009
Direct
188,629
4,005,290
Available
Direct
78,603
1,502,930
Space
Available
1,540,009
2,831,031
4,005,290
Space
1,502,930
2,794,641
326,796

0
0
22,197
0
722,152
275,157
722,152
0
Sublease
00
361,405
Available
Space
361,405
Sublease
649,157
350,687
Available
649,157
744,903
Space
19,330
744,903
1,189,545
34,003
1,189,545
532,162
19,330
0
532,162
35,877
34,003
0
Sublease
35,877
128,277
0
Available
0
128,277
Space
0
0
Sublease
00
Available
0
4,363,478
Space
0
Sublease
0
4,363,478
0
Available
22,197
0
Space
0
275,157
722,152
22,197
0
275,157
722,152
361,405
Sublease
0
350,687
Available
Sublease
0
649,157
Space
Available
361,405
744,903
350,687
Space
649,157
1,189,545
19,330
744,903
532,162
19,330
34,003

!
-72.0%

(311,470)

Third Quarter 2012

71

25,786,088

78,603
25,336,502

20.2%
4.8%

78,603
20,552,138

2,152,087

18.6%

1,502,930

649,157

6.9%

3.0%

9.9%

1.6%

$81.86

$69.61

$79.30

0.9%

932,581

-3.9%

267,942

(47,257)

3,805,516

11.3%

3,060,613

744,903

12.4%

3.0%

15.4%

1.6%

$98.36

$62.68

$95.01

0.2%

1,233,318

-31.2%

(14,691)

(360,980)

4,213,786

14.1%

3,024,241

1,189,545

7.5%

3.0%

10.5%

1.2%

$78.04

$61.11

$73.27

6.7%

1,379,667

-27.7%

(368,566)

(278,905)

2,563,798

14.8%

1,999,825

563,973

7.8%

2.2%

9.9%

1.1%

$64.54

$56.78

$63.07

5.0%

1,016,152

-50.8%

(60,858)

(172,043)