2015 FIRST QUARTER FIDI REPORT

$1.273M +18.63% -32.96% -35.35% AVERAGE AVERAGE PRICE AVERAGE DISCOUNT UNITS SOLD PRICE % CHANGE (YR) % CHANGE (QTR) (YR)

The first quarter sales market in the Financial FIDI SALES MARKET District fared extremely Q1 2015 % Chg Q4 2014 % Chg (Yr) Q1 2014 well overall. Consistent increases in both average Average Price $1,273,848 3.04% $1,236,259 18.63% $1,073,823 and median price show Average PPSF $1,271 -0.39% $1,276 5.86% $1,201 that the neighborhood is continuing to make Average Discount 2.38% -32.96% 3.55% -38.97% 3.90% headway as a destination Median Price $1,120,075 2.06% $1,097,500 14.88% $975,000 neighborhood. With almost a 50% drop in closings Median PPSF $1,241 1.06% $1,228 14.80% $1,081 compared to last year, Units Sold 64 -35.35% 99 -47.97 123 more people are signing contracts with longer closing periods at some of Financial District’s new FIDI SALES MARKET BY SIZE developments. As these Q1 2015 % Chg Q4 2014 % Chg (Yr) Q1 2014 developments start closings in late 2015 and 2016, we STUDIOS should see a dramatic Average Price $711,207 -0.34% $713,627 0.25% $709,405 shift in both price and volume sold. Some high- Median Price $700,000 7.69% $650,000 7.69% $650,000 lights are below: Average PPSF $1,159 2.92% $1,126 5.29% $1,101 đŏ
2!.#!ŏ,.% !ŏ1,ŏ+2!.ŏ Units Sold 19 -5.00% 20 -53.66% 41 18% year over year 1 BEDROOMS 13.76% 13.79% đŏ
2!.#!ŏ,.% !ŏ+"ŏ03+ŏ Average Price $1,198,475 $1,054,346 $1,053,198 bedroom apartments Median Price $1,144,548 9.53% $1,045,000 15.61% $990,000 increased the most with Average PPSF $1,285 0.13% $1,283 2.06% $1,259 over 20% since last year Units Sold 24 -52.94% 51 -48.94% 47 đŏ
2!.#!ŏ,.% !ŏ+"ŏāŏ! - 2 BEDROOMS rooms increased over 13% since last quarter Average Price $1,892,142 -2.01% $1,930,983 21.25% $1,560,526 Median Price $1,785,000 -9.29% $1,967,794 28.65% $1,387,500 đŏ+(1)!ŏ+"ŏ1*%0/ŏ/+( ŏ decreased from last quarter Average PPSF $1,366 -5.48% $1,445 9.25% $1,250 as well as from last year Units Rented 19 -20.83% 24 -36.67% 30 đŏ$!ŏ2!.#!ŏ %/ +1*0ŏ 3+ BEDROOMS off asking decreased Average Price $1,958,750 -8.22% $2,134,271 3.62% $1,890,392 further to 2.38% from -14.09% 12.17% last quarter Median Price $1,958,750 $2,280,000 $1,746,299 Average PPSF $1,108 -3.55% $1,149 -4.74% $1,163 Units Sold 2 -50.00% 4 -60.00% 5

30 Wall Street 11th Floor, New York, NY 10005 | 212.825.0050 PLATINUMPROPERTIESNYC.COM 101, Ave. des Champs Elysées, Paris, France 75008 | +33 (0) 1.56.52.91.60 2015 FIRST QUARTER FIDI REPORT

$3,771 13.59% 1,043 599 AVERAGE AVERAGE PRICE TOTAL UNITS RENT DROP (YR) INVENTORY RENTED

The rental market stayed fairly on track with what FIDI RENTAL MARKET seasonality has traditionally Q1 2015 % Chg Q4 2014 % Chg (Yr) Q1 2014 dictated. The average rent stayed consistent at around Average Rent $3,771 -0.37% $3,785 2.03% $3,696 $3,750 per month across Average RPSF $52 -5.45% $55 0.00% $52 all unit sizes. As the spring starts and the rental market Price Drops 702 13.59% 618 9.18% 643 activity picks up, we should Median Rent $3,536 0.60% $3,515 3.18% $3,427 see this price be driven up slightly by demand. Also, Total Inventory 1,043 1.66% $1,026 -19.83% $1,301 with the opening of the 1 Units Rented 599 3.28% 580 -24.46% 793 World Trade Center and companies moving into their spaces, we saw a less significant decrease in FIDI RENTAL MARKET BY SIZE the seasonal prices than Q1 2015 % Chg Q4 2014 % Chg (Yr) Q1 2014 we typically have. We also saw a decline in the total STUDIOS inventory year over year. Average Rent $2,898 -0.38% $2,909 3.61% $2,797 The spring and summertime should see a new wave of Median Rent $2,862 1.82% $2,915 4.07% $2,750 inventory hit the market Average RPSF $57 1.79% $56 0.00% $57 as the highly anticipated 70 Pine Street and second Units Rented 248 5.71% 210 -21.83% 284 phase of 20 Exchange 1 BEDROOMS Place hit the market. Some -1.01% 0.24% highlights below: Average Rent $3,739 $3,777 $3,730 Median Rent $3,692 0.44% $3,676 1.46% $3,639 đŏ
2!.#!ŏ.!*0ŏ +*/%/0!*0ŏ Average RPSF $58 0.00% $57 3.64% $55 at $3,771 per month Units Rented 93 14.29% 217 -23.46% 324 đŏ
2!.#!ŏŏ1* $*#! 2 BEDROOMS year over year Average Rent $5,649 3.35% $5,466 -0.35% $5,669 đŏ+0$ŏ%*2!*0+.5ŏ* ŏ0$!ŏ Median Rent $5,616 5.96% $5,300 4.74% $5,362 units rented declined year over year Average RPSF $58 7.41% $54 9.43% $53 Units Rented 93 -16.22% 111 -27.91% 129 đŏ01 %+/ŏ3!.!ŏ0$!ŏ$%#$!/0 price increase with 3.61% 3+ BEDROOMS increased since last year Average Rent $6,629 -11.29% $7,473 -30.88% $9,591 -8.22% -29.52% đŏ * .!/! ŏ*1)!.ŏ+" Median Rent $5,638 $6,143 $7,999 price drops both since Average RPSF $50 -10.71% $56 -9.09% $55 last quarter and last year Units Rented 4 -20.00% 5 -42.86% 7

The FiDi Report, which is prepared by Platinum Properties’ President, Daniel Hedaya, focuses on real estate activities in New York City’s Financial District, encompassing the area bounded by the West Side Highway, the FDR Drive, Chambers Street and Battery Park. All data is based upon a combination of Platinum’s internal database, open rental listings, exclusive brokerage listings as well as city records. Some pricing discrepancies may appear due to the number of bathrooms, balconies or additional amenities. All prices reflect average values.