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$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
2
80ParkAvenue
320ParkAvenue
350ParkAvenue
375ParkAvenue
390ParkAvenue
450ParkAvenue
510
MadisonAvenue
520
MadisonAvenue
540
MadisonAvenue
590
MadisonAvenue
650
MadisonAvenue
660
MadisonAvenue
667
MadisonAvenue
623FifthAvenue
640FifthAvenue
712FifthAvenue
745FifthAvenue
767FifthAvenue
13
30SixthAvenue
888
SeventhAvenue
65East55thStreet
9
West57thStreet
40
West57thStreet
152
West57thStreet
HedgeFundIndex
Asking
Ren
t
Low Direct Asking Rent High Direct Asking Rent
$80
$145
$125
$105
$140$130
$140
$120
$150
$125
$135
$200
$80
$127
$115$125
$125
$96 $95
$72
$107
$90
$150
$150
$50
Direct High Asking RentSublease Low Asking RentSublease High Asking Rent Direct Low Asking Rent
$76
$160
$120$110
$42
$83
$165
$80
$65 $60
$135
$95
$65
$53$58
$85$93
$110
$77
$110
$70
$39
$85
Hedge Fund Index Increase in Rents and Continued Availability of Sublease Space
Every six months, we update the New York City hedge fund index. The index tracks 24 Class A and trophy buildings in Midtown Manhattan which have a highconcentration of boutique hedge fund, investment management, and related financial service tenants. Since our last update in April 2012, pricing among the toptier buildings has increased modestly. The high asking rent for direct space is above $100 per sq. ft. in all but one of these signature properties.
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October 2012
Showcase Sublease Space640 Fifth AvenueEntire 12th Floor 10,114 rsfAsking rent $72.00 per sq. ft.
Spectacular usable wrap-around terrace overlookingFifth Avenue and Rockefeller Center roof gardens
IT Room wi th 5-tonsupplemental AC unit
11 private offices, 2 conferencerooms, 12 workstations and8 trading positions
Fully furnishedand wired
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October 2012
Showcase Sublease Space623 Fifth AvenueEntire 17th Floor 14,486 rsfAsking rent $65.00 per sq. ft.
IT Room wi th 8-ton supplementalA/C unit
Extended building hours for A/C
14 private offices,conference room, 50trading positions and12 workstations
Fully furnishedand wired
Excellent Fifth Avenueand Rockefeller Center
roof gardens andskating rink views
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Building Photo
Building and
Address
640 Fifth AvenueN/W/C of West 51st Street
590 Madison Avenue
S/W/C of East 57th Street
623 Fifth Avenue
Between 49th and 50th Streets
Ownership Vornado Realty Trust Edward J. Minskoff Equities Cohen Brothers
Floor / RSF Entire 12th Floor 10,114 rsf Partial 8th Floor 3,263 rsf Entire 17th Floor 14,486 rsf
Asking Rent $72.00/rsf $75.00/rsf $65.00/rsf
Term Through June 2015 Through February 2016 Through February 2017
Sublandlord Withheld Hatteras Funds UBP Asset Management
Comments High end installation with 11 offices, 12workstations, 8 trading positions, 2conference rooms, pantry, reception areaand IT room with 5 tons of supplemental
a/c. Large useable wrap-around terraceis fully planted with excellent views ofRockefeller Center roof garden and FifthAvenue. Space is fully furnished/wired.
High end space built with 5 offices, openarea for workstations, conference room,pantry and IT closet. Space is fullyfurnished/wired.
Above standard installation built with 14perimeter offices, 50 trading positions, 12workstations and a conference room.Space has 8 tons of supplemental a/c in
place and Rockefeller Center views.Space is fully furnished/wired.
Floorplan
Newly Available Sublease Spaces
Apri l 2011October 2012
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Building Photo
Building and
Address
320 Park Avenue
Between 50th and 51st Streets
375 Park Avenue
Between 52nd and 53rd Streets
505 Fifth AvenueN/E/C of 42nd Street
Ownership Mutual of America RFR Realty Stawski Partners
Floor / RSF Entire 27th Floor 15,361 rsf Entire 17th Floor 16,828 rsf Partial 15th Floor 4,200 rsf
Asking Rent $76.00/rsf $80.00/rsf $83.00/rsf
Term Through July 2016 Through November 2014 5 years
Sublandlord Ospraie Management Bronfman Associates Cartesian Capital
Comments High end installation with 15 offices, 14workstations, 22 trading positions and 3conference rooms. Space has 18 tons of
supplemental a/c, including 5 tons in theIT room. Furniture and phones can bemade available.
High end installation with 12 offices, 10workstations, 4 conference rooms, fullservice kitchen, private bathroom and a
CEO suite with a gym and two additionalprivate bathrooms. Space has 20 tons ofsupplemental a/c and somefurniture/phones are available.
High end installation with 5 offices, 6workstations, conference room, pantryand reception area. Bright space with
floor to ceiling windows, direct presenceoff the elevator and excellent Bryant Parkviews.
Floorplan
Newly Available Sublease Spaces
Apri l 2011October 2012
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Building Photo
Building and
Address
909 Third AvenueBetween 54th and 55th Streets
830 Third AvenueS/W/C of East 51st Street
777 Third Avenue
Between 48th and 49th Streets
Ownership Vornado Realty Trust AEW Sage Realty
Floor / RSF Entire 33rd Floor 19,133 rsf Partial 8th Floor 6,352 rsf Partial 22nd Floor N/A
Asking Rent $58.00/rsf $54.00/rsf $3,300/month
Term Through July 2016 or May 2019 3-10 years Flexible
Sublandlord Robeco Investment Management Direct Aviate Global
Comments Recently built space with 8 offices, 74trading positions, 2 conference rooms,pantry, data center with two 10 tonsupplemental a/c units and emergencyUPS battery backup. Top floor of thebuilding with double height ceilings.
Above standard installation with 7 offices,18 trading positions and a conferenceroom. Bright space with a double doorentrance directly off the elevator.
Newly built space with 1 office that canaccommodate 2 people. Shared accessto a conference room and pantry. Spacehas great light and East River views.Furniture and phones are available.
Floorplan
Newly Available Sublease Spaces
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Building Photo
Building and
Address
152 West 57th Street
Between Sixth and Seventh Avenues
51 West 52nd Street
N/E/C of Sixth Avenue
515 Madison Avenue
N/E/C of 53rd Street
Ownership TF Cornerstone CBS Corporation Gural Family
Floor / RSF Partial 10th Floor 4,003 rsf Entire 36th Floor 23,767 rsf Entire 34th Floor 3,794 rsf
Asking Rent $49.00/rsf $85.00/rsf $68.00/rsf
Term Through April 2014 Through September 2015 Through July 2015
Sublandlord Sancus Capital BNP Paribas Flintlock Capital
Comments Built with 3 offices, 12 trading positionsand a conference room. Furniture isavailable.
Above standard installation with 27offices, 56 workstations, 4 conferencerooms, 2 copy/file rooms and a pantry.Furniture and phones are available.
Built with 2 offices, 14 trading positions,conference room, reception, pantry andIT room. Furniture and phones areavailable.
Floorplan
Newly Available Sublease Spaces
Apri l 2011October 2012
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Building Photo
Building and
Address
277 Park Avenue
Between 47th and 48th Streets
1177 Avenue of the Americas
Between 45th and 46th Streets
527 Madison Avenue
S/E/C of East 54th Street
Ownership Stahl Real Estate Silverstein Properties Mitsui Fudosan
Floor / RSF Partial 30th Floor 5,361 rsf Partial 2nd Floor 6,200 rsf Entire 24th Floor 6,600 rsf
Asking Rent $80.00/rsf $55.00/rsf $59.00/rsf
Term 3 years Through April 2017 Through December 2017
Sublandlord Agricultural Bank of China Hold Brothers WP Stewart
Comments Wide open space. Direct presence offthe elevator.
Second generation space built 2 offices,58 trading positions and a conferenceroom. Furniture and phones are
available.
Second generation installation built with10 offices, open area for 5 workstationsand 2 conference rooms. Space has
floor to ceiling glass. Some furniture isavailable.
Floorplan
Newly Available Sublease Spaces
Apri l 2011October 2012
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Building Photo
Building andAddress
1095 Avenue of the AmericasBetween 41st and 42nd Streets
366 Madison AvenueS/W/C of East 46th Street
623 Fifth AvenueBetween 49th and 50th Streets
Ownership The Blackstone Group Ponte Gadea Madison, LLC Cohen Brothers
Floor / RSF Partial 33rd Floor 4,234 rsf Entire 10th Floor 6,851 rsf Partial 16th Floor 5,353 rsf
Asking Rent $88.00/rsf $50.00/rsf $65.00/rsf
Term Through February 2021 Through October 2016 Through August 2015
Sublandlord LUKOIL Pan-Americas LLC EDGAR Online, Inc. Ellis Lake Capital
Comments Above standard installation with 4 offices,open area for 12 workstations, pantry
and a private bathroom. Furniture andphones are available. Additional 4,636rsf contiguous unit available 4/1/2013.
Newly built with 7 offices, 20workstations, conference room, pantry
and reception. Furniture and phones areavailable.
Built with 3 offices, 16 trading positions, 3conference rooms, IT room and pantry.
Space has raised flooring andsupplemental a/c on the trading floor andin the IT room. Furniture is available.
Floorplan
Newly Available Sublease Spaces
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Recently Completed Transactions Financial Service Firms
For further information, please contact: Cynthia Wasserberger | 212.812.5816 | [email protected] .com
October 2012
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