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337,864 1,129,450 3 New Stores 89,206 TIMES SQUARE | NOVEMBER 2019 KEY INDICATORS November By the Numbers Monthly Key Economic Indicators 1,129,450 Broadway attendees 337,864 Average daily pedestrian count in Times Square 89,206 Total SF leased in Times Square On November 1, Times Square Alliance unveiled the Show Globes exhibition to pay tribute to the creativity of Broadway design- 3 new stores ers and the power of live theatre. Opened in Times Square Average Daily Visitors Pedestrian Count Pedestrian counts dropped slight- ly from October to November. AVERAGE DAILY 2019 PEDESTRIAN COUNT 2018 This month, the average daily pe- 450,000 destrian count was 337,864, a 425,000 10.7% decrease from Novem- 402,759 400,000 ber 2018. 378,454 375,000 366,695 350,000 On Friday, November 1, tem- 337,864 peratures and pedestrian counts 325,000 reached their peaks at 72 de- 300,000 grees and 391,863 people. 275,000 250,000 225,000 OCTOBER NOVEMBER Source: Springboard TIMESTIMES SQUARE SQUARE | NOVEMBER| AUGUST 2019 2019 KEY KEY INDICATORS INDICATORS Commercial Real Estate Class A In November, the Times Square Class A commercial offce occu- XXXXXXOCCUPANCY RATE/ XXXXTIMES SQUARE PRICE PER SQUARE FOOT XXXXMIDTOWN pancy rate dropped slightly from PRICE PER SF October to 92%, but remained 95% higher than Midtown's rate of $63 $63 . 93% 90% $66 $63 Between September and Novem- 91% $72 $72 ber, Times Square net effective $74 $78 rent remained unchanged at $63 per square foot. Net effective rent 89% in Midtown saw a sharp increase this month to $78 per square foot. 87% 85% AUGUST SEPTEMBER OCTOBER NOVEMBER Source: CoStar, CompStak. Times Square fgures include properties within the BID boundaries. Midtown fgures are based on CoStar Submarkets. Beginning in Dec. 2016, the Alliance changed our methodology for reporting commercial rents to be a six-month moving average of net effective rent. XXXXXX XXXX XXXX Hotels Rates & Occupancy In October, average daily room rates in Times Square fell by HOTELXXXXXX OCCUPANCY/ OCCUPANCYXXXX from 2018 to . This AVERAGE DAILY RATE XXXX 6.3% $294 AVERAGE DAILY RATE is on par with Midtown and Man- 100% hattan rates, which fell by 5.9% $314 $304 and 5.6% respectively. $294 Occupancy rates in all markets 90% observed a slight decline, yet Times Square's occupancy rate of 93.6% continues to exceed those of Midtown and Manhattan. 80% 70% OCTOBER 2017 OCTOBER 2018 OCTOBER 2019 Source: Smith Travel Research. All fgures are based on representative samples of hotels within respective boundaries. Please note that hotel fgures are based on the month prior to the reporting month. TIMES SQUARE | NOVEMBER 2019 KEY INDICATORS Broadway Attendance & Gross Sales In November, Broadway ticket sales declined from last year to BROADWAY ATTENDANCE 2019 an average of $32.8 million (in thousands) 2018 per week. This month, average BROADWAY ATTENDANCE 2019 400 (in thousands) weekly attendance reached 2018 282,363 patrons, a 4.1% de- 400 350 crease from November 2018. 350 In total, 37 Broadway shows 300 played this month. November 300 openings included A Christmas 250 Carol and Slava's Snowshow. 250 200 200 150 150 100 11/3 11/10 11/17 11/24 100 Source: The Broadway11/3 League 11/10 11/17 11/24 BROADWAY GROSS SALES 2019 (in millions) 2018 BROADWAY GROSS SALES 2019 $50 (in millions) 2018 $50 $43.0 A Christmas Carol opened at the Lyceum Theatre on November 20. $40 $43.0 $37.2 $36.5 $40 $33.1 $37.2 $35.4 $36.5 $32.0 $32.8 $30 $33.1$31.1 $35.4 $32.0 $32.8 $30 $31.1 $20 $20 $10 11/3 11/10 11/17 11/24 $10 11/3 11/10 11/17 11/24 Source: The Broadway League TIMES SQUARE | NOVEMBER 2019 KEY INDICATORS Retail Update Opened & Coming Soon OPENED W 53rd St COMING SOON Dollar Car Rental W 52nd St Urbanspace Market Food + Beverage Retail W 51st St Luggage Entertainment Hotel W 50th St Other W 49th St Gong Cha In October, we cele- Krispy Kreme W 48th St brated the opening of three restaurants and retail shops, including W 47th St BarDough at 350 W 46th Street and Paramount Hotel Bar & Cafe ParaMount Ho- W 46th St tel Bar & Cafe at BarDough Prime Catch 46 235 W 46th Street. In the coming months, W 45th St we look forward to the opening of eight new food and retail shops. W 44th St W 43rd St Chick Fil A Just Baked W 42nd St JD Sports W 41st St ve A Broadway 6th 8th Ave 7th Ave W 40th St.
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