Hedge Fund Report - 102012

7/30/2019 Hedge Fund Report - 102012

1/11

$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.

October 2012


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3/11

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


4/11

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


5/11

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


6/11

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


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




7/11

Building Photo

Building and

Address

909 Third AvenueBetween 54th and 55th Streets

830 Third AvenueS/W/C of East 51st Street

777 Third Avenue


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




8/11

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


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




9/11

Building Photo

Building and

Address

277 Park Avenue


1177 Avenue of the Americas


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


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




10/11

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


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




11/11

Recently Completed Transactions Financial Service Firms

For further information, please contact: Cynthia Wasserberger | 212.812.5816 | [email protected] .com

October 2012

Documents

Hedge Fund Report - 102012