Fall 2005 Retail Report

October 18, 2005

The East Side and Downtown major retail corridors had significant increases in the asking rent for their ground floor space.

The Third Avenue corridor (60th - 72nd Sts) climbed 32% to $248 per square foot.
Along Broadway (between Houston and Broome St.) in SoHo average asking rent rose 27% to $228 per square foot.
The asking rent on Hudson St (between Chambers and Canal St) in TriBeCa was up 21% to an average of $68 per square foot.
The Broadway corridor (between Battery Park and Chambers St) in Lower Manhattan saw its average asking rent increase 12% to $125 per square foot.

The market area asking rents, which surveys all available space, likewise showed improvement.

The East Side climbed 26% to an average asking rent of $186 for all space.
Downtown average asking rent rose 16% to $85 per square foot for all space.
Average asking rents in Midtown South increased 5% to $82 per square foot for all space.
On the East Side stores with less than 1,000 square feet saw a 31% increase in average asking rent to $205 per square foot. · Stores south of 14th St (Downtown) with less than 1,000 square feet saw their average asking rents rise to $151 per square feet for all space, an increase of 27%.

Overall Manhattan average asking rent for all space rose 5% to $102 per square foot.