POSTINGS

CLASS A

The B-Team
F
CLASS B

Building: 116 West 32nd Street 2011 Occupancy: 67% 2013 Occupancy: 100% Big Move-In: CUNY 67,500 SF

Building: 180 Maiden Lane 2011 Occupancy: 98% 2013 Occupancy: 19% Big Move-Out: AIG 800,000 SF

or the first time in recent history, the availability rate across Manhattans stock of Class B buildings is lower than that of their Class A counterparts, suggesting a flight to value, propelled in part by the latest wave of technology startups and media companies looking for affordable space. Indeed, at 10.6 percent, the current availability rate for Class B space is 170 basis points less than the Class A rate of 12.3 percent, according to Richard Persichetti of Cassidy Turley. With Cassidy Turleys help, The Commercial Observer decided to put a spotlight on some of the most dramatic occupancy shifts across Manhattan over the last three years.

Building: 350 Hudson Street 2011 Occupancy: 33% 2013 Occupancy: 88% Big Move-In: Medidata Solutions98,000 SF

Building: 1301 Avenue of the Americas 2011 Occupancy: 95% 2013 Occupancy: 71% Big Move-Out: Dewey & LeBoeuf382,000 SF

Building: 350 Madison Avenue 2011 Occupancy: 91% 2013 Occupancy: 45% Big Move-Out: BT North America82,000 SF

Building: 100 Church Street 2011 Occupancy: 70% 2013 Occupancy: 91% Big Move-In: NYC Law Department131,946 SF

Building: 261 Madison Avenue 2011 Occupancy: 70% 2013 Occupancy: 91% Big Move-In: WeWork44,000 SF

Building: 200 Hudson Street 2011 Occupancy: 34% 2013 Occupancy: 100% Big Move-In: Havas 225,474 SF

Building: 1221 Avenue of the Americas 2011 Occupancy: 96% 2013 Occupancy: 69% Big Move-In: Socit Gnrale536,000 SF

Building: 135 East 57th Street 2011 Occupancy: 82% 2013 Occupancy: 45% Big Move-Out: Multiple tenants

Building: 14 Wall Street 2011 Occupancy: 73% 2013 Occupancy: 90% Big Move-In: Amerigroup Corp.165,029 SF

Building: 551 Fifth Avenue 2011 Occupancy: 78% 2013 Occupancy: 93% Big Move-In: Inter Parfums43,000 SF

Building: 1290 Avenue of the Americas 2011 Occupancy: 93% 2013 Occupancy: 63% Big Move-Out: AXA (sublet)373,000 SF

Building: 685 Third Avenue 2011 Occupancy: 100% 2013 Occupancy: 32% Big Move-Out: Pfizer600,000 SF

Building: 17 Battery Place South 2011 Occupancy: 76% 2013 Occupancy: 95% Big Move-In: N.Y. Film Academy73,000 SF

Building: 260 Madison Avenue 2011 Occupancy: 78% 2013 Occupancy: 91% Big Move-In: Coca-Cola Co.50,000 SF

Building: 666 Fifth Avenue 2011 Occupancy: 95% 2013 Occupancy: 50% Big Move-Out: Citibank300,000 SF

Building: 770 Broadway 2011 Occupancy: 92% 2013 Occupancy: 65% Big Move-Out: Nielsen Media 157,000 SF

20|FEBRUARY 19, 2013|THE COMMERCIAL OBSERVER