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April 2011 Market Report Office Average Vacancy Rates Midtown Class A Midtown Class B
Mar-11 11.6% 15.2%
Feb-11 11.7% 14..5%
Mar-10 13.9% 14.5%
Midtown South Class A Midtown South Class B
7.3% 11.9%
7.5% 12.0%
11.2% 14.5%
Downtown Class A Downtown Class B
11.3% 15.6%
11.3% 15.7%
10.3% 15.6%
Average Asking Rent (PSF)
Midtown Class A
Mar-11 $66.18
Feb-11 $65.94
Mar-10 $67.45
Midtown Class B
$42.51
$42.59
$43.16
Midtown South Class A Midtown South Class B
$47.71 $39.64
$48.36 $39.74
$50.94 $40.13
Downtown Class A Downtown Class B
$42.25 $33.02
$42.11 $33.07
$43.88 $33.86
Source: Cassidy Turley
DJIA vs. NYC Unemployment 11.0%
12500 11500 9.0% 10500 8.0%
9500
7.0%
8500
6.0%
7500
5.0%
6500 Mar- Apr- May- Jun- Jul-10 Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar10 10 10 10 10 10 10 10 10 11 11 11
DJIA
Source: NYS Department of Labor Source: NYC Office of Management and Budget
NYC Unemployment
DJIA
NYC Unemployment
10.0%
Economic Indicators
60%
Dow Jones(^DJI) % Change & Montly Close 14,500
50%
13,500
40%
12,500
30%
11,500
20%
10,500
10%
9,500
0%
8,500
-10%
7,500
-20% Mar-10
6,500 Apr-10 May-10
Jun-10
Jul-10
Aug-10
Sep-10
Dow Jones (^DJI) % Change
Oct-10
Nov-10 Dec-10
Jan-11
Feb-11 Mar-11
Dow Jones (^DJI) Close
Nasdaq(^IXIC) % Change & Monthly Close 3000
70% 60% 50% 40% 30% 20% 10% 0% -10% -20% -30% Mar-10
2750 2500 2250 2000 1750 1500 Apr-10 May-10
Jun-10
Jul-10
Aug-10
Nasdaq (^IXIC) % Change
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11 Mar-11
Nasdaq (^IXIC) Close
S&P 500(^GSPC) % Change & Monthly Close 20% 1,500
15% 10%
1,400
5% 1,300
0% -5%
1,200
-10% 1,100
-15% -20%
1,000
-25% -30%
900
Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 S&P 500 (^GSPC) % Change Source: NYC Office of Management and Budget
S&P 500 (^GSPC) Close
(In Thousands,
Foreign Exchange Rate USD to CAD Euro to USD Pound to USD USD to Peso USD to Yen
3/25/11 0.98
2/25/11 0.98
3/26/10 1.03
1.41 1.62 12.06 81.14
1.38 1.61 12.13 81.76
1.34 1.49 12.54 92.56
Source: Federal Reserve Bank of NY
Prime Rate
March-11 3.25%
February-11 3.25%
March-10 3.25%
Source: New York Federal Reserve Bank
Consumer Price Index (1982-84 = 100) March-11
February-11
March-10
245.617
243.832
240.101
Change To Mar-11 From: Feb-11 0.73%
Mar-10 2.30%
Source: Bureau of Labor Statistics
Employment For New York City (In Thousands, Not Seasonally Adjusted)
Total Financial Activities Services Wholesale Trade Retail Trade Government Construction Manufacturing Transportation & Utilities Unemployment Rate Source: NYS Department of Labor
Mar-11 3,711.2
Feb-11 3,687.4
Mar-10 3,675.2
433.1
433.6
424.0
1,672.4 138.6 300.9
1,661.0 137.9 297.2
1,634.5 136.0 293.6
547.0 103.2 74.0 118.1 8.4%
546.0 98.7 73.6 116.4 9.2%
560.4 110.0 76.4 118.3 10.0%
Housing Mortgage Rates NYC Week Ending 3/25/11 Week Ending 2/25/11 Week Ending 3/26/10
15 Yr
30 Yr
1 Yr Adj.
4.50% 4.61% 4.80%
5.16% 5.24% 5.35%
4.06% 4.06% 4.49%
Source: HSH Associates
Monthly Housing Permits Issued
2011 January February March
BX 95 108 2
BK 134 127 30
MN 21 31 94
QN 173 15 223
SI 42 12 34
NYC To Month 465 293 383
NYC to Date 465 758 1,141
2010 Total to Date
205
291
146
411
88
1,141
1,141
Month
2010 January
BX 8
BK 47
MN 0
QN 57
SI 141
NYC To Month 253
NYC to Date 253
February March April May
35 13 37 18
46 82 17 238
0 326 65 89
96 96 58 166
33 25 40 41
210 542 217 552
463 1,005 1,222 1,774
June
435
612
12
388
40
1,487
3,261
July August September October November
140 85 6 7 85
68 119 59 74 48
0 0 176 5 0
130 165 99 457 59
36 23 24 43 30
374 392 364 586 222
3,635 4,027 4,391 4,977 5,199
December
195
683
199
587
32
1,696
6,895
2010 Total to Date
1,064
2,093
872
2,358
508
6,895
6,895
Jan - Mar 2010 Jan - Mar 2011 Percent Change
Bronx 56 205 266%
Brooklyn 175 291 66%
Month
Year To Date Comparison
Source: U.S. Census Bureau Monthly and Annual Totals are reported separately by the U.S. Census Bureau
Manhattan 326 146 -55%
Queens 249 411 65%
Staten Island 199 88 -56%
NYC Total to Date 1,005 1,141 14%