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Download to View Times Square March 2018 Key Indicators BROADWAY Last 8 Weeks 2017 2018 HOTELS Last 6 Months ‘15-’16 ‘16-’17 ‘17-’18 Gross Sales, Attendance, Average Occupancy in Millions Millions Daily Rate Rate 35 0.35 $400 100% 94.8% 94.7% 92.2% 93.4% $348 30 0.30 83.7% $304 81.0% $300 $279 80% 25 0.25 20 0.20 $231 $187 $200 $176 60% 15 0.15 10 0.10 $100 y 40% c an 5 0.05 p s u e l a Occ 0 S 0.00 $0 20% 2/4 2/11 2/18 2/25 3/4 3/11 3/18 3/25 September October November December January February Broadway sales and attendance remained strong in Following seasonal trends, hotel occupancy March. With 35 shows open on Broadway at the end increased and average daily room rates decreased of the month, spring theater season is now in full slightly in February. Both occupancy rates and swing. average room rates are on par with the past two years. Source: The Broadway League Source: STR 2017 2018 Midtown TSQ PED COUNTS Last 4 Weeks CLASS A Last 6 Months Occupancy Net Effective Rent Rate Price/SF 400,000 399,498 100% 374,082 366,471 $80 358,157 354,388 312,131 $67 300,000 92% $60 90% 200,000 $40 80% 100,000 y c $20 an p u 0 70% Occ $0 3/11 3/18 3/25 4/1 February March October November December January February March Average Average Pedestrian counts increased significantly in March. Times Square Class A occupancy rates decreased This month’s average daily count exceeded that of slightly this month to 92%. Average price per February 2018 by 16% and March 2017 by 11.5%. square foot has dropped slightly from $68 to $67. This month, Times Square reached a peak daily count of 428,710 people on Friday, March 30. Source: CoStar, Compstak *Beginning in December 2016, the Alliance changed their methodolo- gy calculating Class A commercial rents. The reported number is now a Source: Springboard six-month moving average of net effective rents. TSq Retail/Oce Map March 2018 MAJORW 53r dOFFICE St OPENINGS 1. 130 W 42nd Street 1. Sony Hall M-III Partners 2. Prive Revaux Eyewear 5,088 SF 1 3. Poke Signature W 52nd St W 52nd St 2. 11 | X 1 Kepos Capital COMING SOON 19,689 SF 1. Knickerbocker Social 2 3 2. SAAR Indian Bistro 12 ToneW 51st St W 51nd St 3. Maison Kayser Bakery & 4 Cafe 5 4. Princi Bakery W 50th St W 50th St 5. Vanguard Wine Bar 6 6. Cafe 11 7. CVS 7 8. First & Last W 49th St W 49th St 9. Mia’s Brooklyn Bakery 2 1 10. Levi’s 3 11. Sephora W 48th St 12. American Market by 8 9 Todd English 2 4 1 13. Lionsgate Entertainment 5 City W 47th St y a 6 w e e CLOSINGS e v v d v a A A A o 1. e.l.f. h h h r 5 t t t B 7 9 8 1 3 4 2. Bella Mia W 46t h St 3. Paramount Bar & Grill 10 4. Corso Coffee 11 5. The Change Group W 45th St 6. Best Price 7. Yankee Clubhouse 8. Lids 9. Electronics & Souvenirs W 44th St Gift Outlet 6 7 10. Champs 8 12 IN DEVELOPMENT W 43rd St (A new building under construction) 9 1. Midtown Tower (2018) 2. Hotel Development (TBD) W 42nd St 3. Hard Rock Hotel (2019) 13 10 2 1 4. Marriott Edition (2018) 2 5. Riu Hotel (2020) 6. DoubleTree Hotel/Palace W 41st St Theatre (TBD) 3 W 40th St 6th Ave Dark Blue icons indicate a new “Coming Soon” to the map. For questions about retail or office changes in Times Square, contact Marianne Vernetson at [email protected].
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