REPORT REAL ESTATE Real Capital Analytics’ Top Property Sales Biggest commercial transactions in NYC in 2010, ranked by price

Sq. ft. or Address/ # of units/ property type/ Sale price price per Close Buyer’s representative/ submarket (in millions) sq. ft. or unit date Buyer Seller seller’s representative TOP FOUR SALES 111 Eighth Ave. $1,770.0 2,961,071 12/1 Google Jamestown/Taconic Investment Partners/ CBRE 1 Office $598 NYS Common Retirement Fund Eastdil Secured Midtown South 1 1221 Sixth Ave. (McGraw-Hill Building) $1,280.0 2,600,000 5/14 Canada Pension Plan SL Green Realty Corp. n/a 2 Office $492 Investment Board n/a Midtown West 2 55 E. 52nd St. (Park Avenue Plaza) $700.0 1,230,000 7/7 Rockpoint Group Fisher Brothers n/a 3 Office $569 CBRE Midtown East 3 299 Park Ave. $687.0 1,160,000 1/9 Rockpoint Group UBS Bank Corp. n/a 4 Office $592 CBRE Midtown East 4 340 Madison Ave. $570.0 750,000 6/10 RXR Realty Broadway Partners/ n/a 5 Office $760 D.E. Shaw Group CBRE Midtown East LIST RANK 1 4 1540 Broadway (Bertelsmann Building) $520.0 906,287 11/8 EDGE Fund Advisors/ CB Richard Ellis Investors n/a ADDRESS 6 Office condo $574 HSBC CBRE 111 Eighth Ave. Midtown West PRICE PER SQ. FT. 1330 Sixth Ave. $400.0 535,600 12/29 RXR Realty/ Otéra Capital n/a $598 7 Office $747 Safra family/ CBRE Midtown West PSP Investments 125 Park Ave. $330.0 603,433 8/3 SL Green Realty Corp. Shorenstein Properties n/a 8 Office $547 CBRE Midtown East 452 Fifth Ave. $330.0 865,000 4/13 IDB Group/ HSBC Holdings CBRE 9 Office $382 Midtown Equities Jones Lang LaSalle Midtown West 5 250 E. 57th St. $320.0 900,000 4/28 Worldwide Group NYC Educational n/a 10 Development site $356 Construction Fund CBRE Midtown East 440 Park Ave. (former Drake Hotel) $305.3 600,0006 1/28 CIM Group Macklowe Properties n/a 11 Development site $509 n/a Midtown East 510 Madison Ave. $275.0 350,000 9/24 Boston Properties Macklowe Properties n/a LIST RANK 2 12 Office $786 Cushman & Wakefield Inc.7 Midtown East ADDRESS 1221 Sixth Ave. 700 8th Ave. (Milford Plaza Hotel) $230.0 1,300 11/2 Rockpoint Group/ Milstein family n/a 13 Hotel $176,923 Highgate Holdings Hodges Ward Elliott PRICE PER SQ. FT. Midtown West $492 1466 Broadway (Six Times Square) $214.8 298,695 6/17 Walton Street Capital/ Dubai World Okada & Co. 14 Office $719 Ashkenazy Acquisition Corp. Jones Lang LaSalle Midtown West 600 Lexington Ave. (Manhattan Tower) $193.0 303,515 5/20 SL Green Realty Corp./ Hines Interests n/a 15 Office $636 Canada Pension Plan CBRE Midtown East Investment Board 685 Third Ave. $190.0 634,000 7/30 TIAA-CREF Pfizer Corp. n/a 16 Office $300 CBRE Midtown East 770 11th Ave. (Clinton Park) $189.7 330,000 8/4 Mercedes Benz USA Two Trees Management CBRE 17 Retail condo $575 n/a Midtown West 201 Park Ave. South (W Union Square) $185.2 270 8/31 Host Hotels & Resorts Inc./ LEM Capital n/a 18 Hotel $686,049 Dubai World n/a Midtown South LIST RANK 3 420 E. 54th St. (Rivertower) $181.5 323 1/29 Equity Residential Macklowe Properties n/a ADDRESS 19 Apartment $561,920 n/a 55 E. 52nd St. Midtown East PRICE PER SQ. FT. 680 Madison Ave. (Carlton House) $166.0 157 7/30 Angelo Gordon & Co./ Helmsley Estate n/a $569 20 Apartment $1,057,325 Extell Development CBRE Upper East Side 150 E. 86th St. (Lucida) $165.3 150,000 10/8 Vornado Realty Trust Extell Development/ n/a 21 Retail condo $1,102 Carlyle Group n/a Upper East Side 653-659 11th Ave. (Ink48) $162.5 222 9/10 Prudential RE Investors Horizen Global n/a 22 Hotel $731,966 n/a Midtown West 2 Court Square (CUNY Law School) $155.0 225,000 3/4 City University of New York Citigroup n/a 23 Office condo $689 n/a Astoria, Queens 1412 Broadway (Fashion Gallery) $152.5 400,000 12/7 Harbor Group International/ Murray Hill Properties/ n/a 24 Office $381 Migdal Insurance/ Principal RE Investors Jones Lang LaSalle Midtown West Menorah Mivtachim 777 Sixth Ave. $150.8 294 1/29 Equity Residential Macklowe Properties n/a LIST RANK 4 25 Apartment $512,925 n/a Midtown West ADDRESS 299 Park Ave. Sale prices for partial-interest deals reflect 100% valuations. Development site square footage and price per square foot are based on buildable square feet. In case of tied figures, deals are ranked based on price per square foot or unit. n/a Not available. 1-A 45% interest was traded. 2-A 49.9% interest was traded. 3-A 49.75% interest was traded. 4-A 49% interest was traded. 5-75-year leasehold. 6-Estimate. 7-Represented O’Connor in sale of mortgage position. Real Capital Analytics PRICE PER SQ. FT. Inc. is an independent research firm focused exclusively on capital investment markets for commercial real estate. RCA offers comprehensive information on activity in the industry. In addition to collecting transactional information for property sales and financings, it interprets the data, including capitalization rates, market trends, pricing and sales volume. The firm publishes a series of Capital Trends reports and offers an online service that provides real-time, global transactional market $592 information. Visit www.rcanalytics.com.

January 17, 2011 | Crain’s New York Business | 21