New York Office Leases:

• Total Manhattan Office Class A vacancies increased from 11.44 million RSF to 12.52 million RSF.
• Total Manhattan Office Market vacancies increased from 21.02 million RSF to 22.31 million RSF.
• Total Manhattan Office direct lease vacancy increased from 18.04 million RSF to 18.45 million RSF
• Manhattan Office Sublease vacancy increased from 2.98 million RSF to 3.87 million RSF.
• Total Manhattan Office Market vacancies increased from 21.02 million RSF to 22.31 million RSF.
• Total Midtown Office vacancy increased from 11.6 million RSF to 11.87 million RSF.
• Total Midtown South Office vacancy increased from 3.9 million RSF to 4.07 million RSF.
• Total Downtown Office vacancy increased from 5.52 million RSF to 6.37 million RSF.
• Total vacant Office Sublease Space in Midtown Manhattan increased from 1.88 million RSF to 1.97 million RSF.
• Total vacant Office Direct Space in Midtown Manhattan increased from 9.72 million RSF to 9.9 million RSF.
• Total vacant Office Direct Space in Midtown South Manhattan decreased from 3.6 million RSF to 3.78 million RSF.
• Midtown South Manhattan Sublease vacancies decreased from 0.295 million RSF to 0.289 million RSF.
• Total Downtown Manhattan Office Direct Lease Space increased from 4.72 million RSF to 4.76 million RSF.
• Total Downtown Manhattan Office Sublease Vacancies increased from 0.8 million RSF to 1.61 million RSF.

NYC Retail Leases:

• Total Available Manhattan Retail Space decreased from 1.12 million RSF to 1.09 million RSF.
• Midtown vacancy decreased from 0.25 million RSF to 0.23 million RSF.
• Midtown South Retail vacancies decreased from 0.76 million RSF to 0.72 million RSF.
• In Downtown, Retail vacancy increased from 0.11 million RSF to 0.13 million RSF.

New York Industrial Leases:

• Total Vacant Manhattan Industrial Space increased from 0.32 million RSF to 0.33 million RSF.
• Midtown vacancy stayed at 0.18 million RSF.
• Midtown South Industrial vacancies stayed at 0.15 million RSF.

Manhattan Office Rentals:

• Credit Suisse leases 257,837 RSF at One Madison Avenue.
  The Swiss bank inked an expansion lease.
• The Segal Company leases 156,000 RSF at 333 West 34th Street.
  The independent consulting firm inked a new 15-year lease for floors two through five. The company is currently located at One Park Avenue and expects to move into its new offices during the first quarter of 2010. The reported asking rent was $58 per square foot.
• General Motors leases 120,000 RSF at 153 East 53rd Street (Citigroup Center).
  GM?s treasury operations and asset management group inked a 10-year lease. The company is relocating from 767 Fifth Avenue, where its naming rights deal is due to expire in 2010. The reported asking rent at Citigroup Center was approximately $115 per square foot.
• Crain Communications leases 100,000 RSF at 711 Third Avenue.
  The publisher of newspapers and magazines signed a five-year lease renewal.
• The American Language Communication Center leases 650,00 RSF at 229 West 36th Street.
  The English language school inked a 20-year lease for floors two through six. The reported asking rent was $45 per square foot. The institution is relocating from the Hotel Pennsylvania at 401 Seventh Avenue.
• Kohn Pedersen Fox leases 65,000 RSF at 11 West 42nd Street.
  The architecture firm inked a long-term lease for the entire ninth floor and parts of the eighth and 18th floors. The reported asking rent was $67 per square foot. The company is relocating from 111 West 57th Street.
• DirecTV leases 64,475 RSF at One Rockefeller Plaza.
  The broadcast satellite company inked a 15-year lease for the entire fifth, sixth and seventh floors. The firm is relocating from its 60,000-square-foot space at 1211 Sixth Avenue.
• Credit Suisse leases 56,745 RSF at 315 Park Ave South.
  The Swiss bank inked an expansion lease.
• The School of Visual Arts leases 54,000 RSF at 335 West 16th Street.
  The art and design school inked a 26-year lease for the entire building. SVA plans to use the property, which holds two movie theaters, for lectures and special events.
• Solomon-Page Group leases 51,000 RSF at 260 Madison Avenue.
  The executive search firm signed a 10-year lease for the entire third and part of the seventh floors. The reported asking rent was $60 per square foot. The company is relocating from 1140 Sixth Avenue, where asking rents are approximately $100 per square foot.
• PNC Bank of Pittsburgh leases 40,000 RSF at 340 Madison Avenue.
  The bank inked a lease for the 11th floor. The tenant is consolidating its offices at 450 Park Avenue and 70 East 55th Street. The reported asking rent was between $75 and $95 per square foot.
• Kobre & Kim leases 40,000 RSF at 800 Third Avenue.
  The law firm inked an expansion lease that will take effect starting in 2010. The company is currently on a short-term sublease for 20,000 square feet at the building.
• Turner Construction leases 30,000 RSF at 580 Gerard Avenue (The Bronx).
  The construction company inked a short-term lease.
• SpeechCycle leases 28,000 RSF at 26 Broadway.
  The speech-recognition software company inked a 4.5-year sublease for a portion of the 11th floor. The reported asking rent was $30 per square foot. The firm is relocating from its temporary offices at 90 John Street.
• The Rodgers & Hammerstein Organization leases 25,000 RSF at 229 West 28th Street.
  The copyright licensing company signed a 15-year lease renewal and expansion for the 10th and 11th floors. The reported asking rent was $42 per square foot.
• Humanscale Corp. leases 24,000 RSF at 11 East 26th Street.
  The furniture maker inked a 10-year expansion lease for the seventh and eighth floors. The reported asking rent was $45 per square foot.
• Allianz Global Investors leases 24,000 RSF at 51 West 52nd Street.
  The financial services firm inked a three-year sublease for the 36th floor. The reported asking rent was $100 per square foot. The company is expanding from its nearby headquarters at 1345 Sixth Avenue.
• William F. Ryan Community Health Center leases 23,178 RSF at 801 Amsterdam Avenue.
  The community health center inked a 20-year lease to relocate to Columbus Village, a large mixed-use development on the Upper West Side.
• The School of Visual Arts leases 20,000 RSF at 333 West 23rd Street.
  The art and design school inked a 26-year lease for the entire building. SVA plans to use the property, which holds two movie theaters, for lectures and special events.
• TheLadders.com leases 20,000 RSF at 205 Hudson Street.
  The online job search engine and media company signed an expansion lease. The firm now occupies nearly 45,000 square feet in two Trinity-owned properties.
• Easter Unlimited leases 16,264 RSF at 1115 Broadway.
  The toy company inked a 10-year lease renewal for its 10,000-square-foot space, as well as a 6,264-square-foot expansion. The reported asking rent was $40 per square foot.
• Teach for America leases 15,000 RSF at 519 Eighth Avenue.
  The nonprofit signed a 10-year lease for the entire 15th floor. The space will house the organization?s New York City regional team.
• Paine & Partners leases 14,000 RSF at 461 Fifth Avenue.
  The private equity firm inked a 10-year expansion lease for the entire 17th and 18th floors. The reported asking rent was $95 per square foot. The company is relocating from One Rockefeller Plaza, where it occupied 3,000 square feet.
• Kable Distribution Services leases 12,486 RSF at 14 Wall Street.
  The distributor of comic books and magazines inked a lease for two pre-built units. The reported asking rent was $47 per square foot.
• Gaiam leases 12,000 RSF at 350 Madison Avenue.
  The online retailer and media company signed a lease for new space. The reported asking rent was $90 per square foot. The firm is relocating from 100 Park Avenue, where it kept offices for three years.
• CooperKatz & Company leases 10,662 RSF at 205 Lexington Avenue.
  The business communications company inked a lease for relocation.
• American Utex International leases 10,335 RSF at 463 Seventh Avenue.
  The fashion outerwear company inked an eight-year lease renewal. The reported asking rent was $44 per square foot.
• Enterprise Asset Management leases 10,022 RSF at 521 Fifth Avenue.
  The financial services firm inked a new 10-year lease for space on the 18th floor. The reported asking rent was $72 per square foot.
• United Legwear Co. leases 10,000 RSF at 48 West 38th Street.
  The maker of socks, tights and leggings inked a 10-year expansion lease for new showroom and office space and design studios. The reported asking rent was $38 per square foot. The company is relocating from a 3,000-square-foot space at 39 West 37th Street.
• GEOS Language Institute leases 7,091 RSF at 1133 Broadway (St. James Building).
  The international language school inked a 10-year lease for space on the 15th floor. The reported asking rent was $53 per square foot.
• Centro LLC leases 6,500 RSF at 22 West 21st Street.
  The online advertising/media company inked a lease. The firm is relocating from 900 Broadway.
• Algonquin Productions leases 6,390 RSF at 121 East 24th Street.
  The theater production company inked a six-year lease for production and performance space. The reported asking rent was $300 per square foot.
• Hotline leases 6,000 RSF at 231 West 39th Street.
  The fashion showroom inked an eight-year expansion lease. The reported asking rent was between $40 and $45 per square foot.
• Converseon Inc. leases 6,000 RSF at 53 West 36th Street.
  The online marketing company inked a seven-year lease. The reported asking rent was $44 per square foot. The firm is relocating from 1140 Broadway.
• BATS Trading Inc. leases 6,000 RSF at 14 Wall Street.
  The securities trading firm inked a five-year lease on the fourth floor. The reported asking rent was $46 per square foot.
• BJD Inc. leases 6,000 RSF at 318 West 39th Street.
  The menswear showroom inked a lease.
• The Nolan Glove Company leases 6,000 RSF at 22 West 38th Street.
  The fashion accessories company signed a long-term lease.
• Exhale Enterprises leases 5,700 RSF at 250 West 57th Street.
  The spa chain inked a 10-year lease for space on the 19th floor. The reported asking rent was $65 per square foot. The company is relocating from 200 West 57th Street.
• Deutsche Telekom leases 5,658 RSF at 14 Wall Street.
  The telecommunications company inked a lease.
• Ridge Abstract Corp. leases 5,336 RSF at 53 West 36th Street.
  The commercial and residential title insurance agency signed a lease for second-floor space.
• Rick Steiner Fell & Benowitz LLP leases 5,310 RSF at 90 Broad Street.
  The law firm inked a new lease for part of the 25th floor.
• Lacoste Home leases 5,200 RSF at 185 Madison Avenue.
  The home furnishing company inked a two-year sublease for showroom space. The reported asking rent was $53 per square foot.
• Elias Arts leases 5,000 RSF at 394 Broadway.
  The music marketing company signed a lease.
• EidosMedia leases 5,000 RSF at 14 Wall Street.
  The software company inked a five-year lease for space on the sixth floor. The reported asking rent was $46 per square foot. This will be the Milan-based firm?s first U.S. office.
• Software Reproduction Technologies leases 5,000 RSF at 7-9 West 30th Street.
  The independent computer media manufacturer inked a five-year lease.
• Verum Management leases 4,995 RSF at 12 East 49th Street.
  The hedge fund signed a lease.
• World Gold Trust Services leases 4,948 RSF at 424 Madison Avenue.
  The gold market intelligence firm signed a 10-year lease for the entire third floor.
• Houghton Mifflin Company leases 4,767 RSF at 1350 Sixth Avenue.
  The book publisher inked a five-year lease.
• 3PAR Inc. leases 4,749 RSF at One Whitehall Street.
  The utility storage provider inked a five-year lease. The company is expected to take occupancy in spring 2008.
• Bumble & Bumble Products leases 4,620 RSF at 160 East 56th Street.
  The hair care products company inked a six-year lease renewal.
• James Perse Enterprises leases 4,500 RSF at 231 West 39th Street.
  The California-based clothier inked a five-year expansion lease for showroom space. The company is expanding from a 2,200-sqauare-foot space at the building. The reported asking rent was between $40 and $45 per square foot.
• Harlem Veterans Center leases 4,000 RSF at 2279-2283 Third Avenue (The Bridges NYC).
  The regional counseling center for the U.S. Department of Veteran Affairs signed a lease for space in the new mixed-use development.

New York Retail Leases:

• Jeff Sutton leases 40,000 SF at 599 Broadway.
  The developer signed a 49-year lease for the retail space on the first, second and third floors as well as the basement. Sutton plans to sublease the entire four-story space to a single retailer.
• Zara leases 21,634 SF at 500 Fifth Avenue.
  The fashion retailer inked a lease for multi-level space. Asking rents in the area reportedly run between $400 and $500 per square foot.
• Victoria Secret leases 20,000 SF at 133 East 58th Street.
  The lingerie retailer inked a new 15-year lease with a five-year option for the multi-level space. The total reported value of the lease exceeded $100 million.
• NYZ Outlet leases 18,000 SF at 378 Broadway.
  David Zaken signed a 10-year lease with a two-year opt-out clause to open a discount shoe store at the multi-level space. The store will feature 6,000 square feet on the ground floor, 7,000 square feet on the lower level and a 5,000-square-foot basement.
• Associated Supermarket leases 13,209 SF at 801 Amsterdam Avenue.
  The supermarket inked a 20-year lease for space at Columbus Village, an Upper West Side mixed-use development.
• Duane Reade leases 9,458 SF at 71 West 23rd Street.
  The drugstore inked a 20-year lease for another location.
• Duane Reade leases 9,304 SF at 325 Columbus Avenue.
  The drugstore inked a 20-year lease for another location.
• Hugo Boss leases 9,000 SF at 555 Broadway.
  The fashion house signed a 12-year lease. The space is currently occupied by Ann Taylor, but its lease was bought out to accommodate Hugo Boss.
• Duane Reade leases 8,000 SF at 560 West 125th Street.
  The drugstore inked a 20-year lease for another location.
• Kira Plastinina leases 7,947 RSF at 509 Fifth Avenue.
  The international fashion retailer inked a lease for multi-level space. The tenant will occupy 3,500 square feet on the ground floor, 2,605 square feet on the mezzanine and 1,842 square feet on the lower level.
• Fig & Olive leases 7,000 SF at 10 East 52nd Street.
  The Mediterranean restaurant inked a 10-year lease for 2,200 square feet of ground-floor space, 2,500 square feet of second-floor space and 2,487 square feet of lower-level space. The reported asking rent was $250 per square foot on the ground floor and $
• Staples Copy & Print leases 6,600 SF at 330 Seventh Avenue.
  The copy center inked a lease for another location.
• AT&T leases 5,000 SF at 3 Times Square.
  The mobile communications company inked a lease for another branch.
• House & Home leases 4,000 SF at 345 West 42nd Street.
  The home and office supply retailer inked a 15-year lease to open its first Manhattan branch. The reported asking rent was $145 per square foot.
• Sleepy's leases 4,000 SF at 753 Columbus Avenue.
  The mattress retailer signed a five-year lease.
• Wachovia Bank leases 3,500 SF at 2279-2283 Third Avenue (The Bridges NYC).
  The bank signed a lease for space at the new mixed-use development. The two-building complex will have more than 30,000 square feet of retail when completed.
• Mundo Art leases 3,500 SF at 24 Spring Street.
  The upscale international art gallery inked a long-term lease.
• Haven leases 3,500 SF at 244 East 51st Street.
  The tapas bar inked a 10-year lease for 1,900 square feet on the ground floor and 1,600 square feet on the mezzanine. The reported asking rent was approximately $72 per square foot. The bar expects to be open by summer 2008.
• AT&T leases 3,200 SF at 5120 Fifth Avenue.
  The mobile communications company inked a lease for another branch.
• Play and Trade LLC leases 3,050 SF at 137 East 13th Street.
  The video game sales and repair company signed a 15-year lease for 1,500 square feet of ground-floor retail space, 1,200 square feet of basement space and 350 square feet of patio space. The reported asking rent was $100 per square foot. This will be the
• Staples Copy & Print leases 2,800 SF at 42 Broadway.
  The copy center inked a lease for another location.
• Nilesh Dawda leases 2,500 SF at 172 Orchard Street.
  The noodle bar inked a lease.
• Free People leases 2,100 SF at 1319 Third Avenue.
  The Urban Outfitters subsidiary inked a 10-year lease.
• Chop Creative Salad Company leases 2,030 SF at 1285 Sixth Avenue (UBS Building).
  The food retailer signed a 10-year lease for ground-floor space. This will be its third Manhattan location.
• Crumbs 42nd Street Inc. leases 2,014 SF at 110 West 40th Street
  The bakery inked a 10-year lease. The reported asking rent was $44 per square foot.
• Big Apple Style leases 1,850 SF at 485 Third Avenue.
  The furniture retailer signed a 15-year lease for showroom space. The reported asking rent was $45 per square foot. This is the company?s second Manhattan location.
• Spice leases 1,800 SF at 102 Second Avenue.
  The restaurant signed a lease.
• SEAJ Pharmacy Corp. leases 1,656 SF at 765-7 Morris Park Avenue (The Bronx).
  The pharmacy inked a lease for its second neighborhood location.
• AT&T leases 1,500 SF at 2066 Broadway.
  The mobile communications company inked a lease for another branch.
• Tasti D-Lite leases 1,500 SF at 1841 Broadway.
  The frozen dessert chain inked a lease.
• Yin Beauty Spa leases 1,300 SF at 103 West 86th Street.
  The luxury spa inked a 10-year lease for its first Upper West Side location.
• Elements Beauty Lounge leases 1,250 SF at 48 Third Avenue.
  The beauty salon took space.
• Citi-Spaces Realty leases 1,200 SF at 174 Second Avenue.
  The real estate company signed a 10-year lease.

New York City Buildings Sold:

• 650 Madison Avenue a 27-story 600,000 RSF office building was sold to Ashkenazy Acquisition Corp. for $695 million.
  The building went into contract for $695 million, or $1,185 per square foot.
• 1250 Broadway a 39-story 670,000 RSF office building was sold to Murray Hill Properties for $310 million.
  The property sold for $310 million, or $463 per square foot. Asking rents in the building are reportedly in the mid-$30s. SL Green bought the building in 1999 for $93 million.
• 100 Fifth Avenue a 19-story 240,000 RSF office building was sold to Rock New York (100-104 Fifth Avenue) LLC for $152 million.
  The prewar building sold for $152 million. Atlas bought the property for $110 million, or $458 per square foot, in July 2007 from Kinney-Hill Associates.
• 100-104 Fifth Avenue a 20-story 270,000 RSF office building was sold to Rock Investments for $150 million.
  The office condominium property went into contract for more than $150 million. The seller had purchased the building for $110 million in June 2007.
• 370 Canal Street a 20-story hotel 360 rooms total was sold to Magna Hospitality Group for $83 million.
  The future site of a Sheraton Hotel sold for $83.5 million. The hotel, slated to be completed later this year, is the second unfinished hotel that McSam sold to Rhode Island-based Magna Hospitality Group in February; the developer also sold 505-513 West 43rd Street to Magna for $42 million. Additionally, McSam purchased a commercial building at 6-12 Water Street for $27 million and a parking lot at 431 West 33rd Street for $24 million (see below).
• 8 Gramercy Park South and 141 East 33rd Street 2 mixed-use buildings 180,000 RSF total was sold to Stonehenge Partners for $83 million.
  The properties sold for $83 million. The rental building at 141 East 33rd Street has 120 apartments, one office space and a 6,000-square-foot retail space; 8 Gramercy Park South has 55 apartments and three office spaces, and features 60,000 square feet of additional air rights.
• 28-30 West 57th Street a 34-story 321,44 RSF office building was sold to The LeFrak Organization for $56 million.
  The property sold for $56.5 million, or $1,614 per square foot. The prewar building has 4,500 square feet of retail space and comes with 40,000 square feet of development rights.
• 318 East 15th Street (Booth House) a 12-story 112,898 RSF apartment building 140 units total was sold to Arun Bhatia Development for $56 million.
  The property sold for $56 million. The buyer plans to convert the units into luxury apartments.
• 64 West 48th St a 17-story 130,000 RSF office building was sold to Muss Development for $54 million.
  The property sold for $54.5 million. The building is being repositioned with a multimillion dollar capital improvement program. Cushman & Wakefield is exclusively marketing the office space; CB Richard Ellis is representing the 17,000-square-foot, ground-level retail space.
• 38-40 and 42-50 Greene Street three 5-story office buildings 110,000 RSF total was sold to Zar Property NY; Nassimi Realty for $50 million.
  The package of office buildings with retail sold for more than $50 million.
• Washington Heights portfolio 7 mixed-use buildings 323 residential units total was sold to Perseus Management for $44 million.
  The seven-building portfolio sold for $44 million, or $143 per square foot. The properties are located at 35 Fort Washington Avenue, 247 Wadsworth Avenue, 672 St. Nicholas Avenue, 82 and 84 Wadsworth Avenue, 565 West 188th Street and 562 West 189th Street.
• 505-513 West 43rd Street Development site was sold to Magna Hospitality Group for $42 million.
  The 20,000-square-foot lot sold for $42 million. The property is the site of a planned 198-room budget hotel that is not due to be completed until mid-2009.
• 134 West 58th Street a 15-story apartment building was sold to Benedict Properties for $39 million.
  The corporate housing building sold for $39 million.
• 777 Washington Street a 4-story 20,000 RSF mixed-use building was sold for $34 million.
  The live-work photo studio sold for $34 million. The property, home to Albert M. Watson Photography, has a photo studio on the bottom two floors and bedrooms, a gym, library, terrace and roof deck on the top two floors.
• 127-131 West 25th Street a 12-story 89,000 RSF mixed-use building was sold to Real estate partnership for $32 million.
  The prewar building sold for $32 million, or $300 per square foot. The buyers are planning major renovations for the property and hope to raise the asking rents to the $40-per-square-foot range from the mid-$20s.
• 408-410 Broadway a 5-story 60,600 RSF commercial building was sold to Vanick Properties for $29 million.
  The office and storage building sold for $29 million.
• 6-12 Water St a 5-story 21,000 RSF office building was sold to McSam Hotel Group for $27 million.
  The commercial property sold for $27 million.
• 431 West 33rd Street Development site was sold to McSam Hotel Group for $24 million.
  The 74,000-square-foot parking lot sold for $24 million.
• 3581 Broadway Development site was sold to Columbia University for $20 million.
  The single-story, 25,000-square-foot lot sold for $20 million. Columbia plans to build a 42-unit rent-to-own residential project for residents who will be displaced by its 17-acre expansion into Harlem.
• 176-182 West 82nd Street Four 5-story apartment buildings 30,000 RSF total was sold to Navistone Amsterdam LLC for $19 million.
  The four walk-up properties sold for $19 million, or $635 per buildable square foot. The residential package went on the market in spring 2007 for $16.5 million. WexTrust purchased the buildings for $12.28 million in February 2007 and had planned a condo conversion. Navistone plans to knock down walls in the buildings to combine smaller residential units into three- or four-bedroom units of up to 2,000 square feet.
• 15 Broad St (Downtown by Philippe Starck) Commercial condo was sold for $18 million.
  The commercial unit sold for $18.62 million.
• 65-67 Greene Street Two 5-story mixed-use buildings was sold to a Manhattan investor for $15 million.
  The contiguous loft buildings sold for $15.68 million, or $735 per square foot. The price represents a capitalization rate of 2.6 percent and a gross rent multiple of 28.8. The two properties combine for 21,321 square feet of space, with an additional 4,304 square feet of air rights. 65 Greene Street is an elevator building and 67 Greene Street is a walk-up building.
• 145-147 East 47th Street 4-story 8,980 RSF retail building was sold to a Manhattan developer for $12 million.
  The building sold for $12.95 million, or $322 per buildable square foot. The property has approximately 40,164 buildable square feet.
• 111 Mercer Street a 5-story 11,332 RSF office building was sold to Mercer 111 LLC for $12 million.
  The vacant building sold for $12.35 million, or $1,090 per square foot. The property has been approved by the Landmarks Preservation Commission for a 1,250-square-foot penthouse addition, which would bring its total square footage to 12,582.
• 128 East 62nd Street 6-story 7,890 RSF apartment building was sold for $6.9 million.
  The co-op building sold for $6.9 million, or $875 per square foot. The price represents a gross rent multiple of 34.6
• 647-53 West 174th Street 30,000 RSF apartment building 40 units total was sold for $6 million.
  The multifamily walk-up property sold for $6.8 million. The price represents a gross rent multiple of 11.
• 124-26 West 139th Street 5-story apartment building 30 units total was sold for $3 million.
  The multifamily walk-up property sold for $3.7 million.
• 660 Park Avenue a Commercial condo was sold to Aerin Lauder Zinterhoffer for $3 million.
  The ground-floor commercial condominium sold for $3.65 million.
• 225-227 East 24th Street a 5,000 RSF retail condo was sold to a Manhattan architect for $2 million.
  The street-level commercial space sold for $2.65 million, or $530 per square foot. The unit contains approximately 3,075 square feet on the ground floor and 1,925 square feet in the cellar.
• 3857-3861 Third Avenue (The Bronx) a Development site was sold to a Manhattan developer for $1 million.
  The vacant site sold for $1.4 million, or $39 per buildable square foot. The property has approximately 36,858 buildable square feet. The buyer plans to build housing on the site.

Legend