SEMI-ANNUAL REPORT | NOVEMBER 2015

THE 100

CityRealty is the website for NYC real estate, providing high-quality listings and tailored agent matching for prospective apartment buyers, as well as in-depth analysis of the real estate market. Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT Additions to the CityRealty 100 The CityRealty 100 is an index comprised of the top 100 condominium buildings in . Several factors—including a building’s sales history, prominence and CityRealty’s rating for the property—are used to determine which buildings are included in the index. This report tracks the performance of those buildings through September 30, 2015.

Three buildings have been added to the index as of the third quarter of this year, reflecting the changing landscape of the city’s luxury housing market. The additions are as follows:

150 Charles Street

The 91-unit condominium at 150 Charles Street, in the far West Village, was developed by the Witkoff Group and sold out while still under construction in 2013. The building, designed by CookFox, includes a 12-story addition to an existing three-story storage facility. Its many amenities include a landscaped courtyard and a 75-foot-long pool.

https://www.cityrealty.com/nyc/west-village/150-charles-street

50 United Nations Plaza

The 42-story 50 United Nations Plaza sits across First Avenue from the United Nations complex. The 88-unit building, developed by Zeckendorf Development and designed by Foster & Partners and SLCE, has amenities that include a waterfall in the lobby and on-site valet parking.

https://www.cityrealty.com/nyc/turtle-bay-united-nations/50-united-nations-plaza

One Riverside Park, 50 Riverside Boulevard

This 33-story apartment tower at 50 Riverside Boulevard is the southernmost building of the Riverside South development, which stretches from 72nd to 59th streets. The building contains 219 apartments and was built by Extell Development and designed by Goldstein, Hill & West. The amenity-rich building includes a climbing wall and bowling alley in addition to a doorman and concierge.

https://www.cityrealty.com/nyc/riverside-dr-west-end-ave/one-riverside-park-50-riverside-boulevard

About CityRealty Established in 1994, CityRealty offers the most comprehensive data, analysis, and content available for the real estate market, covering both sales and rentals. Additionally, CityRealty provides a free, personalized service for New York City apartment buyers and sellers, matching each customer to an agent with the precise expertise needed to find his or her perfect home. Further information about CityRealty is available at www.cityrealty.com.

2 Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT Summary During the six month period starting April 1, 2015 and ending September 30, 2015, 438 apartments were sold in buildings that are part of the CityRealty 100. The average price per square foot was $2,384, which represents a year-over-year price decrease of 8%. The median price per square foot was $2,121, a year- over-year decrease of 3%.

The price decreases are largely attributable to there being fewer sponsor sales at over the past two quarters following a crush of extremely high-priced sales in the new building. Prices are expected to rise in the CityRealty 100 over the next year as closings in several noteworthy new developments begin—including 432 , The Greenwich Lane and 30 Park Place—and those buildings are added to the index.

Average and Median Price Per Square Foot

$3,000

$2,500 $2,384 AVG PRICE / FT2

$2,000 $2,121 MEDIAN PRICE / FT2 SIX MONTHS ENDING SEPTEMBER 30, 2015 $1,500 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 2014 2015

KEY: AVG PRICE MEDIAN PRICE

Transaction Volume

250

200

150

100 438TOTAL SALES SIX MONTHS ENDING 50 SEPTEMBER 30, 2015

Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 2014 2015

3 Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT Historical Investment Comparison Since April 2005, the average price per square foot of properties in the CityRealty 100 has increased at a Compound Annual Growth Rate (CAGR) of 4.5% per year (non-inflation adjusted). This is slightly below the ten-year CAGR for the S&P 500 (+5.4%), and well above the CAGR for oil (-1.1%), which has experienced significant volatility in the past year. By contrast, the ten-year CAGR for gold (+10.1%), is well above the buildings covered in the CityRealty 100.

Ten Year Price Change of the CityRealty 100

$3,250

$2,750 2 $2,250 +4.5% AVG PRICE / FT / PRICE AVG 10 YEAR COMPOUND ANNUAL $1,750 GROWTH RATE (CAGR) (USD)

$1,250

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

KEY: THE CITYREALTY 100 ALL MANHATTAN CONDOS(1)

Other Markets and Measures of Wealth

Wealth of Forbes' Top S & P 500 Oil Gold 100 Billionaires* +5.4% -1.1% +10.1% +8.1% 10 YEAR COMPOUND 10 YEAR COMPOUND 10 YEAR COMPOUND 10 YEAR COMPOUND ANNUAL GROWTH RATE ANNUAL GROWTH RATE ANNUAL GROWTH RATE ANNUAL GROWTH RATE

'05 '15 '05 '15 '05 '15 '05 '15

Data from April 1, 2005 to September 30, 2015. * Based on the top 100 Billionaires in the world included in Forbes' annual ranking from 2005-2015.

4 Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT Buildings in the CityRealty 100

12-MONTH SALES / PAST 12-MONTH SALES / PAST BUILDING PRICE AVG 12 MONTHS BUILDING PRICE AVG 12 MONTHS One57 $6,010 (18.5%) 37 $2,327 (15.9%) 13 15 West $5,726 (-9.5%) 7 Bristol Plaza $2,282 (13.5%) 3 Residences at the Mandarin Oriental $5,629 (22.0%) 5 Superior Ink $2,258 (-20.9%) 5 Time Warner Center $4,831 (-11.6%) 6 The Aldyn $2,244 (27.1%) 8 Walker Tower $4,632 (34.7%) 10 101 Warren Street $2,239 (3.5%) 17 The Plaza $4,470 (24.2%) 11 The Olcott $2,192 (21.2%) 9 One Beacon Court $4,399 (2.5%) 2 SoHo Mews $2,182 (-17.4%) 3 Trump International $3,925 (15.5%) 4 Manhattan House $2,164 (11.3%) 34 Baccarat Hotel & Residences $3,803 (-17.1%) 32 1 Morton Square $2,154 (0%) 4 135 East 79th Street $3,777 (20.2%) 2 The Harrison $2,114 (4.1%) 8 40 Mercer Street $3,740 (15.1%) 2 The Siena $2,092 (22.6%) 2 Millenium Tower $3,585 (-1.5%) 2 456 West 19th Street $2,085 (2.4%) 4 200 Eleventh Avenue $3,398 (n/a) 1 HL23 $2,079 (n/a) 1 18 Gramercy Park South $3,196 (-17.3%) 3 Devonshire House $2,058 (5.0%) 4 737 Park Avenue $3,167 (1.3%) 11 The Laurel $2,048 (13.7%) 4 279 Central Park West $3,157 (n/a) 2 100 Eleventh Avenue $2,041 (-16.2%) 2 15 Union Square West $3,112 (n/a) 1 166 Perry Street $2,008 (n/a) 1 500 Park Tower $3,051 (n/a) 1 Apple Bank Building $1,984 (9.1%) 4 The Mayfair $2,993 (-10.2%) 2 W New York Downtown $1,981 (0.8%) 22 530 Park Avenue $2,991(9.5%) 17 3 Lincoln Center $1,975 (-0.5%) 12 Centurion $2,936 (14.0%) 4 The Grand Millennium $1,957 (6.6%) 6 Linden 78 $2,865 (n/a) 1 The Porter House $1,949 (n/a) 1 Sky Lofts at 145 Hudson $2,864 (n/a) 1 Place 57 $1,947 (5.7%) 3 40 Bond $2,863 (n/a) 1 The Park Laurel $1,944 (n/a) 2 $2,854 (26.3%) 6 Metropolitan Tower $1,925 (3.1%) 12 535 West End Avenue $2,764 (n/a) 1 The Loft $1,919 (n/a) 1 The Park 900 $2,725 (43.9%) 2 520 West Chelsea $1,914 (3.9%) 3 One Lincoln Square $2,705 (6.6%) 4 45 Park Avenue $1,892 (13.2%) 4 Liberty Lofts $2,695 (12.7%) 2 Sheffield 57 $1,892 (12.4%) 27 $2,688 (18.7%) 6 The Park Belvedere $1,845 (1.5%) 7 The Park Imperial $2,680 (0.6%) 2 The Centria $1,834 (5.0%) 10 Park Millenium $2,674 (13.6%) 8 The Heritage at Trump Place $1,767 (16.7%) 4 150 Charles Street $2,637 (n/a) 20 The Rushmore $1,759 (-3.8%) 14 299 West 12th Street $2,623 (11.7%) 3 Trump World Tower $1,714 (3.3%) 19 Caledonia $2,615 (10.5%) 12 The Ritz-Carlton, Battery Park City $1,706 (-10.6%) 5 240 Park Avenue South $2,612 (25.1%) 5 Central Park Place $1,685 (-14.5%) 15 The Chatham $2,528 (-15.6%) 5 The Empire $1,672 (-17.2%) 2 One Madison $2,525 (-22.8%) 18 Museum Tower $1,662 (-3.5%) 14 50 United Nations Plaza $2,521 (n/a) 35 The Apthorp $1,630 (-19.6%) 16 141 $2,474 (n/a) 1 One Riverside Park $1,619 (n/a) 55 400 Fifth Avenue $2,457 (-1.2%) 6 The Galleria $1,589 (-6.2%) 15 30 East $2,456 (14.7%) 4 Trump Palace $1,546 (-10.8%) 9 One Jackson Square $2,451 (12.0%) 2 The Visionaire $1,467 (2.3%) 17 Essex House $2,413 (-0.7%) 5 170 East End Avenue $1,421 (n/a) 1 The Lucida $2,402 (10.1%) 6 The Greenwich Street Project $1,233 (n/a) 1 One York Street $2,401 (34.1%) 4 Laureate n/a n/a 250 West Street $2,396 (29.7%) 10 Park Avenue Place n/a n/a One Kenmare Street $2,382 (-2.8%) 3 515 Park Avenue n/a n/a The Century $2,380 (-16.3%) 13 1049 Fifth Avenue n/a n/a 200 East 79th Street $2,344 (n/a) 1 165 Charles Street n/a n/a

Percentage changes based on current 12-month period, ending September 30, 2015 vs. previous 12-month period; must have at least 2 transactions in both periods.

5 Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT New York's Most Expensive Condos Q2 2015 - Q3 2015 One57 $6,010 AVG PRICE PER FT2 (BASED ON THE 12-MONTH PERIOD ENDING SEPTEMBER 30, 2015)

+18.5% (CAGR)

COMPOUND ANNUAL GROWTH RATE (CAGR)

2013 2014 2015

KEY: AVG PRICE

15 Central Park West Residences at the Time Warner Center Walker Tower Mandarin Oriental 25 212 West 18th Street 80 Columbus Circle $5,726 $5,629 $4,831 $4,632 AVG PRICE PER FT2 AVG PRICE PER FT2 AVG PRICE PER FT2 AVG PRICE PER FT2

+2.9% +8.1% +7.1% +34.7% (CAGR) (CAGR) (CAGR) (CAGR) '05 '15 '05 '15 '05 '15 '13 '15

Data from April 1, 2005 to September 30, 2015; for inclusion properties must have 3 or more transactions in the final time period.

6 Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT Top Price Gainers 10 YEARS OF SALES Trump International 1 Central Park West $3,925 AVG PRICE PER FT2 (BASED ON THE 12-MONTH PERIOD ENDING SEPTEMBER 30, 2015)

+7.5% (CAGR)

COMPOUND ANNUAL GROWTH RATE (CAGR)

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

KEY: AVG PRICE

1 Morton Square One Lincoln Square Time Warner Center The Century 150 Columbus Avenue 25 Columbus Circle 25 Central Park West $2,154 $2,705 $4,831 $2,380 AVG PRICE PER FT2 AVG PRICE PER FT2 AVG PRICE PER FT2 AVG PRICE PER FT2

+7.3% +7.0% +7.0% +6.7% (CAGR) (CAGR) (CAGR) (CAGR) '05 '15 '05 '15 '05 '15 '05 '15

Data from April 1, 2005 to September 30, 2015; for inclusion properties must have 3 or more transactions in the initial and final time periods.

7 Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT Midtown West/CPW Highlights

D

E B G

F C

A

KEY: Q3 2014 - Q3 2015 SALES

A The Plaza ($4,470/ft2) D One57 ($6,010/ft2) G Metropolitan Tower ($1,925/ft2)

B The Baccarat ($3,803/ft2) E Time Warner Center ($4,831/ft2)

C 15 Central Park West ($5,726/ft2) F Essex House ($2,413/ft2)

G F B A E C D

$1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 AVG PRICE PER SQUARE FEET

Average price/ft2 calculated using closings from the 12 month period ending September 30, 2015.

8 Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT Highlights

D G E

F B

C

A

KEY: Q3 2014 - Q3 2015 SALES NO SALES IN PAST 2 QUARTERS

A 737 Park Avenue ($3,167/ft2) D 515 Park Avenue G Trump Palace ($1,546/ft2)

B 530 Park Avenue ($2,991/ft2) E Trump Park Avenue ($2,854/ft2)

C The Mayfair ($2,993/ft2) F Manhattan House ($2,164/ft2)

G F E B C A

$1,000 $2,000 $3,000 AVG PRICE PER SQUARE FEET

Average price/ft2 calculated using closings from the 12 month period ending September 30, 2015.

9 Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT Most Expensive Sales By Sale Price Time Warner Center, #PH78 $50.9M 8,275 ft2 (5 BEDS, 6+ BATHS) 6,153 / ft2 One57, #77 $47.8M 6,240 ft2 (4 BEDS, 4 BATHS) 7,657 / ft2 737 Park Avenue, #PH $32.7M 6,003 ft2 (4 BEDS, 6+ BATHS) 5,440 / ft2 One57, #53B $30.7M 5,475 ft2 (5 BEDS, 5.5 BATHS) 5,604 / ft2

One57, #67B $28.0M 5 BEDS, 6+ BATHS 4,116 ft2 (3 BEDS, 3.5 BATHS) 6,804 / ft2 $50,917,500 150 Charles Street, #12C/14C $25.5M APPROX 8,275 ft2 | $6,153 / ft2 5,486 ft2 (6+ BEDS, 6+ BATHS) 4,648 / ft2 One57, #58B $24.6M 4,193 ft2 (3 BEDS, 3.5 BATHS) 5,866 / ft2 The Baccarat, #46A $23.3M 4,543 ft2 (4 BEDS, 4 BATHS) 5,127 / ft2 15 Central Park West, #37D $22.0M 3,173 ft2 (3 BEDS, 4 BATHS) 6,934 / ft2 One57, #56C $21.4M 3,466 ft2 (4 BED, 4.5 BATHS) 6,170 / ft2

By Price per Square Foot One57, #77 $7,657 / FT2 6,240 ft2 (4 BEDS, 4 BATHS) $47.8M 4 BED, 4.5 BATHS 15 Central Park West, #37D $6,934 / FT2 $21,386,750 2 3,173 ft (3 BEDS, 4 BATHS) $22M APPROX 3,466 ft2 | $6,170 / ft2 One57, #67B $6,804 / FT2 4,116 ft2 (3 BEDS, 3.5 BATHS) $28M The Plaza, #607 $6,673 / FT2 2,248 ft2 (3 BEDS, 3 BATHS) $15M One57, #56C $6,170 / FT2 3,466 ft2 (4 BEDS, 4.5 BATHS) $21.4M Time Warner Center, #PH78 $6,153 / FT2 8,275 ft2 (5 BEDS, 6+ BATHS) $50.9M The Mandarin Oriental, #69B $5,956 / FT2 1,746 ft2 (2 BEDS, 2.5 BATHS) $10.4M One57, #51C $5,877 / FT2 3,466 ft2 (4 BEDS, 4.5 BATHS) $20.4M 3 BEDS, 3 BATHS One57, #58B $5,866 / FT2 4,1932 (3 BEDS, 3.5 BATHS) $24.6M $15,000,000 APPROX 2,248 ft2 | $6,673 / ft2 One57, #49C $5,789 / FT2 3,466 ft2 (4 BED, 4.5 BATHS) $20.1M

The top 20 sales above are ranked based on prices for closings from the 6 month period ending September 30, 2015.

View more sales from the CityRealty 100 at www.cityrealty.com

10 Q2 2015 - Q3 2015 THE CITYREALTY 100 REPORT

Methodology

The CityRealty 100 is an index of the top 100 residential condominiums in Manhattan. CityRealty follows a strict set of criteria to determine which buildings are included in the CityRealty 100. All buildings must have a minimum average price/ft2 of $1,000 for recorded sales during preceding 12 months. If the buildings have had no recorded transactions in the past 12 months, then the last transaction value is used. For newly constructed properties, a minimum of three months closing history is required.

The building's prominence, popularity and desirability among purchasers and brokers is also taken into consideration, as is CityRealty’s rating for the building.

Please note that CityRealty does not rank buildings within the Index; rather, a default sort order is provided (which is price/ft2 based on the each building's past 12 months sales history). Details for all listed apartments that comprise The CityRealty 100 are available at www.cityrealty.com/indices. Additional transaction details for The CityRealty 100 are available on the CityRealty website, as are other market indices that cover additional areas of Manhattan and Brooklyn.

Gabby Warshawer, CityRealty Director of Research and Communications, welcomes any questions and comments regarding the New York City real estate market. She can be reached at [email protected] or by phone at 212-209-8809.

Visit www.cityrealty.com for more sales information.

(1) Pricing information for "All Manhattan Condos" on page 4 does not include buildings north of on the East Side, above 110th Street north of Central Park, and above 125th Street west of the Park.

All closed sales data has been provided by the New York City Department of Finance via the Automated City Register Information System (ACRIS). No warranty or representation is made as to the accuracy of any data provided by ACRIS or any other sources. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no property included in this report shall the number of bedrooms listed be considered a legal conclusion.

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