New York Office Rentals:

• Total Manhattan Office Class A vacancies increased from 10.77 million RSF to 11.86 million RSF.
• Total Manhattan Office Market vacancies rose from 20.32 million RSF to 22.35 million RSF.
• Total Manhattan Office direct lease vacancy rose from 17.49 million RSF to 19.16 million RSF.
• Manhattan Office Sublease vacancy increased from 2.83 million RSF to 3.19 million RSF.
• Total Manhattan Office Market vacancies increased from 20.32 million RSF to 22.35 million RSF.
• Total Midtown South Office vacancy increased from 3.96 million RSF to 4.38 million RSF.
• Total Midtown Office vacancy increased from 10.75 million RSF to 12.49 million RSF.
• Total Downtown Office vacancy decreased from 5.6 million RSF to 5.48 million RSF.
• Total vacant Office Sublease Space in Midtown Manhattan increased from 1.71 million RSF to 2.11 million RSF.
• Total vacant Office Direct Space in Midtown Manhattan increased from 9.04 million RSF to 10.38 million RSF.
• Total vacant Office Direct Space in Midtown South Manhattan increased from 3.66 million RSF to 4.11 million RSF.
• Midtown South Manhattan Sublease vacancies decreased from 0.3 million RSF to 0.27 million RSF.
• Total Downtown Manhattan Office Direct Lease Space decreased from 4.78 million RSF to 4.68 million RSF.
• Total Downtown Manhattan Office Sublease Vacancies decreased from 0.81 million RSF to 0.8 million RSF.

Manhattan Retail Rentals:

• Total Available Manhattan Retail Space increased from 1.03 million RSF to 1.06 million RSF.
• Midtown South Retail space vacancies rose from 0.75 million RSF to 0.77 million RSF.
• Midtown vacancy stayed at 0.21 million RSF.
• In Downtown Retail vacancy increased from 0.7 RSF to 0.8 million RSF.

Manhattan Industrial Rentals:

• Total Vacant Manhattan Industrial Space stayed at 0.2 million RSF.
• Midtown South Industrial space vacancies stayed at 0.1 million RSF.
• Midtown vacancy increased stayed at 0.1 million RSF.

Manhattan Office Rentals:

• ALM leases 90,000 rsf 120 Broadway.
  The media firm, Real Estate Media's parent company, signed a lease for the fifth and sixth floors of the building. The move will consolidate the company's four offices at 345 Park Avenue South, 105 Madison Avenue, 333 Seventh Avenue and 270 Lafayette Street. Asking rents in the building are reportedly in the $40-per-square-foot range.
• Herrick Feinstein leases 72,000 rsf at 2 Park Avenue.
  The law firm, a tenant in the building since 1957, signed a 13-year expansion lease, bringing its total occupancy there to 191,000 square feet. The asking rent was not disclosed but was believed to be in the $59-per-square-foot range. The firm is now the largest tenant in the property, which is nearly 100 percent leased.
• Kirshenbaum Bond & Partners leases 67,815 rsf at 10 Hudson Square.
  The communications agency renewed its lease and expanded its space.
• Taconic Capital Advisors LP leases 50,000 rsf at 40 West 57th Street.
  The investment firm signed a 10-year lease for the 27th and 28th floors of the building. The asking rent was reported to be $120 per square foot. Taconic Capital will relocate in 2009 from 450 Park Avenue to its new headquarters.
• NCR Corporation leases 40,000 rsf at 7 World Trade Center.
  The global technology solutions provider took the entire 35th floor, which will house 200 employees and will include executive offices and an executive briefing center. The reported asking rent was $70 per square foot.
• Polo Ralph Lauren leases 35,664 rsf at 25 West 39th Street.
  The fashion house signed a lease for more space in the building.
• Jump Apparel Inc. leases 32,243 rsf at 1400 Broadway.
  The apparel manufacturer signed a lease renewal and expansion for the entire second floor of the building, nearly doubling its occupancy from 17,263 square feet on the second floor. The company will complete its expansion in January.
• Markit North America Inc. leases 31,753 rsf at 620 Eighth Avenue.
  The farm supplies wholesaler took space.
• Brennan Beer Gorman Architects leases 30,995 rsf at 350 Fifth Avenue (Empire State Building).
  The architecture firm inked a lease for the entire 25th floor in a relocation from 515 Madison Avenue, where it occupied 22,000 square feet. Asking rents for floors 20 to 39 are reportedly in the mid- to high $50s per square foot. The signing marks the first full-floor lease in the landmark building in years.
• Pipeline Financial Group leases 25,000 rsf at 60 East 42nd Street (The Lincoln Building).
  Through four separate transactions, the owner and operator of trading systems has expanded its space at the property to 25,000 square feet, an increase of more than 80 percent.
• Ronald Jonas Interiors; Jonas Upholstery Inc. leases 22,610 rsf at 44 West 18th Street.
  The sister companies, an interior design firm and an upholstery company, signed a lease for two spaces on the seventh and 10th floors of the building. The reported asking rent was $40 per square foot.
• Longacre Fund Management LLC leases 16,858 rsf at 810 Seventh Avenue.
  The hedge fund signed an expansion lease for the entire 33rd floor.
• Diamondback New York LLC leases 16,858 rsf at 810 Seventh Avenue.
  The hedge fund signed a lease for the entire 37th floor in a relocation from SL Green's 1 Landmark Square in Stamford, Connecticut.
• Micro Office Solutions leases 16,392 rsf at 1375 Broadway.
  The affordable full-service office space provider inked an expansion lease for space on the 11th floor, adding to its existing 20,000-square-foot space on the third floor. Asking rents in the property, built in 1927, are reportedly around $52 per square foot.
• Shalom International Corp. leases 15,000 rsf at 3 West 35th Street.
  The accessories company inked an expansion lease for additional space in the building.
• Excelled Sheepskin & Leather Coat Corp. leases 14,785 rsf at 1400 Broadway.
  The apparel manufacturer inked a 10-year, four-month lease for the entire 31st floor of the building in a relocation from offices at 525 and 485 Seventh Avenue. The reported asking rent in the building is in the $50 to $60 per square foot range.
• McMahon, Martine & Gallagher LLP leases 12,147 rsf at 55 Washington Street.
  The offices of the litigation law firm took space.
• FYC Apparel Group LLC leases 12,057 rsf at 1384 Broadway.
  The sportswear company signed a lease for a relocation and expansion.
• Haver Analytics leases 12,041 rsf at 60 East 42nd Street (The Lincoln Building).
  The database and software products specialist signed an early lease renewal for its full-floor space on the 33rd floor.
• Dealogic leases 12,000 rsf at 120 Broadway.
  The investment banking and technology company inked a 15-year expansion lease for almost the entire eighth floor, bringing its total occupancy to 40,000 square feet. The additional space will allow the company to expand its staff from 173 to 300 employees.
• National Academy of Recording Arts & Sciences leases 10,745 rsf at 11 West 42nd Street.
  The organization of recording professionals signed a lease for a relocation and expansion.
• Fortune Footwear Inc. leases 10,500 rsf at 174 Hudson Street.
  The family-owned importer of shoes and accessories signed a lease for the entire third floor in a relocation from 110 Greene Street. The reported asking rent was $42 per square foot.
• Business Journals leases 9,038 rsf at 1384 Broadway.
  The business media publisher inked a 10-year lease.
• YMI Jeanswear leases 8,600 rsf at 530 Seventh Avenue.
  The denim manufacturer took space.
• Fulvio & Associates leases 8,200 rsf at 5 West 37th Street.
  The accounting firm inked a 10-year lease for a full-floor space to accommodate its growing business.
• SLR Acquisitions/Strategic Workforce Solutions leases 7,990 rsf at 65 Broadway.
  The provider of legal, professional and administrative talent to law firms and other companies took space.
• Sage & Coombe Architects leases 7,128 rsf at 12-16 Vestry Street.
  The architectural firm relocated within the Trinity Real Estate portfolio.
• Gym Tech Inc. leases 7,000 rsf at 188 Varet Street.
  The gym equipment dealer signed an expansion lease for 5,000 square feet of warehouse space and 2,000 square feet of office space in a relocation from smaller quarters in Long Island City.
• ATB Holdings leases 5,776 rsf at 14 Wall Street.
  The stock broker signed a lease for a portion of the fifth floor. The reported asking rent was $45 per square foot.
• InterDealer Information leases 5,018 rsf at 14 Wall Street.
  The trading software developer for some of the world's largest financial institutions signed a lease for a portion of the fourth floor. The reported asking rent was $45 per square foot.
• Gold Village Entertainment Inc. leases 5,000 rsf at 72 Madison Avenue.
  The music management company signed a 10-year lease for executive offices in the building. The reported asking rent was $48 per square foot.
• Hasson Mireles leases 4,700 rsf at 224 12th Avenue (The Terminal Warehouse).
  The fashion wholesaler inked a lease for new space.

New York City Retail Rentals:

• Modell's Sporting Goods leases 25,105 sf at 795 Columbus Avenue.
  The sporting goods store signed a 20-year lease for space in Columbus Village, one of the biggest developments on the Upper West Side.
• Duane Reade leases 17,200 sf at 1657 Broadway.
  The drugstore signed a 10-year lease renewal.
• Ana Tzarev leases 14,600 sf at 24 West 57th Street.
  The art gallery signed a 10-year lease for space with a reported annual rent of $125 per square foot.
• Smith leases 8,000 sf at 55 Third Avenue.
  The team of Jeffrey Lefcourt and Glen Harris of Jane Restaurant and the Neptune Room signed a lease for a 4,000-square-foot ground-floor space with an additional 4,000 square feet of space below grade.
• Duane Reade leases 7,573 sf at 378 Sixth Avenue.
  The drugstore signed a 10-year lease renewal.
• Jeffrey Chodorow leases 7,000 sf at 44 West 63rd Street (Empire Hotel).
  The restaurateur inked a lease to open a 140-seat steakhouse. The terms of the lease were not disclosed.
• Trespa New York LLC leases 6,500 sf at 62 Greene Street.
  The subsidiary of an international developer and manufacturer of interior and exterior paneling signed a long-term lease for Soho retail space. The property contains 4,500 square feet of space on the ground floor and 2,000 square feet below grade. The spa
• North Fork Bank leases 6,400 sf at 991 Third Avenue.
  The bank signed a 20-year lease for space in the new building.
• Yuki Sushi leases 5,400 sf at 685 Amsterdam Avenue.
  The Japanese restaurant signed a 15-year lease for space with a reported annual rent of $53 per square foot.
• Le Pain Quotidien leases 5,000 sf at 2463 Broadway.
  The bakery chain signed an 11-year lease for space with a reported annual rent of $75 per square foot.
• Hugo Boss leases 4,100 sf at 401 West 14th Street.
  The fashion house signed a lease for a new location in the former Western Beef building, where Apple is opening a store. The reported asking rent for a smaller space in the building was $500 per square foot, compared to the $75-per-square-foot price from
• Frankie's Playce leases 4,050 sf at 8000 Cooper Avenue.
  The full-service toy store signed a long-term lease for space in the Shops at Atlas Park. The reported asking rent was $55 per square foot.
• Qdoba Mexican Grill leases 3,500 sf at 216 Eighth Avenue.
  The Mexican restaurant franchise inked a long-term lease for another location.
• Le Pain Quotidien leases 3,200 sf at 550 Hudson Street.
  The bakery chain signed an 11-year lease for space with a reported annual rent of $75 per square foot.
• Volcom leases 3,000 sf at 446 Broadway.
  The California-based apparel and accessories company signed a 10-year lease for its first New York location.
• Magnolia Bakery leases 3,000 sf at 200 Columbus Avenue.
  The baked goods shop signed a 10-year lease to open its second Manhattan location. The space comprises a 1,300-square-foot ground-floor area, a 400-square-foot, enclosed sidewalk caf? and a 1,300-square-foot basement.
• Qdoba Mexican Grill leases 2,400 sf at 12 East 46th Street.
  The Mexican restaurant franchise inked a long-term lease for another location.
• Cafe Blossom leases 2,000 sf at 466 Columbus Avenue.
  The gourmet vegan restaurant signed a 10-year lease with a 10-year option for its second Manhattan location.
• Athea Kitchens Inc. leases 1,700 sf at 7 Hanover Square.
  The kitchen contractor signed a 12-year lease for space to open its second showroom in New York City.
• Blue Mercury Inc. leases 1,700 sf at 2305 Broadway.
  The beauty products store and spa inked a 10-year lease to open its first New York location.
• Casa Foods LLC leases 1,300 sf at 173 Orchard Street.
  The Spanish gourmet and catering restaurant signed a 10-year lease for 800 square feet of ground-floor space and 500 square feet in the basement. The reported asking rent was $90 per square foot. The eatery is expanding its operations from 136 East 36th S
• Audio Cubes leases 930 sf at 69 East 8th Street.
  The audio, electronics and computer accessories retailer signed a 10-year lease for ground-floor retail space.

New York City Buildings Sold:

• 1177 Avenue of the Americas, was sold for over $1 billion to Silverstein.
• SL Green agreed to buy Citigroup's towers at 388-390 Greenwich Street for $1.575 billion in a partnership with SITQ. SL Green will own 52.5 % of the 2.6 million square foot building which sold for $598 per square foot. Citigroup will lease back the building and cover the costs of operating and maintaining it for 13 years.
• 450 Park Avenue, a 32-story 330,000 SF office building was sold to Somerset Partners LLC for $509 million.
  Somerset has closed on its purchase of the Class A office property for $509 million, or $1,540 per square foot, the most ever paid for a U.S. office tower on a per-square-foot basis. The transaction was originally expected to close on September 10, but the buyer said the hold-up was not caused by conditions in the credit market. Asking rents in the building are now in the range of $60 to $70 per square foot, but Somerset believes new leases can fetch up to $180 per square foot.
• 10 Monroe Street (Knickerbocker Village), a two 12-story apartment. Building 1590 units was sold to Apollo Real Estate Advisors for $200 million.
  The affordable housing complex sold for $200 million. Built in 1934, the property is the only New York City rental subject to Article 4 under the state's Private Financing Housing Law, which tightly restricts rents. One-bedrooms rent for an average of $700.
• 440 Ninth Avenue, an 18-story 342600 SF office building was sold to Paramount Group; Sherwood Equities for $160 million.
  The office building sold for $160 million. It comprises 327,600 square feet of office space and 15,000 square feet of retail. SL Green had put the property on the market in September, with plans to shift its focus from managing Class B office buildings to Class A properties.
• 470 Park Avenue South, a 17-story 260,000 SF office building was sold for $157 million.
  The property sold for $157 million, or $604 per square foot. The building, which is currently 96 percent leased, became a part of SL Green's portfolio in 1997 in connection with the company's initial public offering. The sale will generate a net profit of approximately $118.4 million. The proceeds are expected to be used as part of a 1031 exchange corresponding with the recent acquisition of the balance of interests in One Madison Avenue.
• 360 East 65th Street, a 21-story apartment. Building 165 units was sold to Stonehenge Partners for $130 million.
  The Upper East Side residential property sold for close to $130 million. It will be renamed Stonehenge 65 and renovated to a luxury rental building.
• 235 West 75th Street, a 224,000 SF apartment building 212 units was sold to Westbrook Partners for $109.12 million.
  The Upper West Side apartment building sold for $109.12 million, or $487 per square foot.
• 476 11th Avenue, a Development site was sold to Rockrose Corporation for $83.4 million.
  The 22,000-square-foot lot sold for $83.4 million. The site, which is within the rezoned Hudson Yards district, is one block north of a planned two-tower, 835-unit rental project that Rockrose has broken ground on at 505 West 37th Street. The development will extend from 37th to 38th streets and from 10th Avenue halfway down the block to 11th Avenue. Rockrose is also building a 394-unit rental building at 455 West 37th Street.
• 127-135 West 33rd Street, a 16-story 171000 SF mixed-use building was sold to Time Equities for $70.5 million.
  Savanna Partners; The City Investment Fund','W. Heller, W. Silverman, Studley','$70.5M','The commercial building sold for $70.5 million. It comprises 152,000 square feet of office space and 19,000 square feet of retail space. The sellers made a quick profit on the property: They purchased the building in May for $43 million. The buyer could convert the space into office condos.
• 24 West 53rd Street, a 5-story 100441 SF building was sold to Orient-Express Hotels Ltd. for $59 million.
  Orient-Express paid the library $59 million for the building, which the hotel developer plans to convert into a 150-room luxury hotel. The buyer will also pay for the value of the library space, which will be rebuilt as the new Donnell Library, to be owned and occupied by the New York Public Library. The hotel project is likely to cost $220 million, including the purchase cost. It is expected to open in early 2011.
• 121 West 28th Street (The Hilton Garden Inn Chelsea), a 174-room hotel was sold to Inland American Winston Hotels for $55 million.
  The hotel sold for $55 million. Chang purchased the sites at 119-121 West 28th Street in 2005 for $5.75 million. The hotel, which opened on October 16th, was sold after this summer\'s merger between Winston Hotels and the REIT Inland American.
• 158 West 27th Street, a 12-story commercial building 15 units was sold to Louis Dreyfus Property Group for $46 million.
  The building, built in 1913, sold for $46 million.
• 112-126 Ninth Avenue, a 6-story 60000 SF building was sold to Morris Moinian Fortuna Realty Group for $40 million.
  The prewar building, which has 64 residential units and eight retail units, went into contract for $40 million. The property is expected to undergo major renovations and bring in new retail tenants.
• 305 West 39th Street (Times Square Comfort Inn), a 78-room hotel was sold to Gemini Real Estate Advisors for $31.74 million.
  The hotel sold for $31.74 million.
• 29 West 35th Street, a 12-story 71180 SF office building was sold to a New York investor for $30 million.
  The property sold for $30 million. The Midtown building has 6,500 rentable square feet per floor and was delivered 75 percent vacant. The seller purchased the building five years ago.
• 312-318 East 95th Street, a 5-story 39424 SF building was sold to TDS Acquisition LLC for $25 million.
  The community facility sold for $25 million, or $250 per square foot.
• 433-439 West 37th Street, a Development site was sold to a New Jersey developer for $19 million.
  The Hudson Yards-area parking lot sold for $19 million to make way for construction of an 86,000-square-foot residential rental building. A contiguous vacant building and lot at 431 West 37th Street sold in a separate transaction as part of the development plan
• 215 West 108th Street and 210 West 109th Street, a 31,425 SF portfolio 44 units was sold to Morris Moinian for $16.5 million.
  The five- and six-story walk-up buildings sold for $16.5 million, or $525 per square foot. The price represents a capitalization rate of 5.7 percent and a gross rent multiple of 14.5. The units are primarily renovated two- and three-bedroom apartments; 31 units are free market. The properties have an additional 23,000 square feet of air rights.
• Central Harlem portfolio, a 12 mixed-use walk-up building was sold for $15 million.
  The portfolio, which totals 132 residential units, three commercial units and three super's units, sold for $15 million. The properties are located at 234-244 and 260-262 West 122nd Street; 2268 and 2500 Frederick Douglass Boulevard; 222 St. Nicholas Avenue; and 262 West 115th Street. The buildings were renovated under an HPD vacant buildings program and are eligible for tax credits.
• 19 West 56th Street, a 25,000 SF office building was sold to Sheldon Solow for $15 million.
  The American Cancer Society Building deal to sell its property to United American Land was flipped to Sheldon Solow. United was in contract for several years as the ACS waited to relocate to a new building.
• 2269-75 First Avenue, a 5-story 45,000 SF building was sold to The Noam Corporation for $11.5 million.
  The vacant former public school building sold for $11.5 million. The building, built in the 1890s, has an additional 20,000 square feet of air rights and will have ground-floor retail. The site could be redeveloped as condos or rental apartments. The seller, which had planned about 60 condominium units, bought the property for $7.65 million in 2005.
• 677 11th Avenue, a 4-story 32,800 SF commercial building was sold to Rockrose Development Corp. for $10.048 million.
  The property sold for $10.048 million, or $306 per square foot. The company is developing two apartment buildings totaling 1,250 units nearby at 10th Avenue and 37th Street.

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