JUNE 2013 ABSORPTION REPORT

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2 HIGHLIGHTS The number of available apartments in Manhattan was 5,017 at the beginning of June, 5% less than the previous month, and 28% less than in June of June s absorption rate of 4.9 months was unchanged from May, but 40% lower than a year ago. This data remains consistent with a seller s market. At 3.9 months, the West Side continues to have Manhattan s lowest absorption rate, followed by Downtown at 4.4 months. Midtown West saw the biggest improvement over the past year, as its absorption rate fell from 9.1 months in June 2012 to 4.6 months, a 50% decline. DEFINITIONS LISTINGS: Number of active listings transmitted through the REBNY listing service. RATE: How many months it would take to sell all active listings in a given market. We calculate it by dividing the number of listings by the average number of closings over the prior 6 months. Historically, an absorption rate between 6-9 months indicates a balanced market. Cover Property: halstead.com Web#

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4 EAST SIDE MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All 1, , , MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All , ,

5 WEST SIDE MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All

6 MIDTOWN EAST MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All , MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All

7 MIDTOWN WEST MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All

8 MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom Loft All 1, , , DOWNTOWN MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom Loft All , MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom Loft All

9 UPPER MANHATTAN MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All MAY 2013 JUNE 2012 Studio Bedroom Bedroom Bedroom All

10 OFFICES NEW YORK PARK AVENUE 499 Park Avenue, New York, NY Phone: EAST SIDE 770 Lexington Avenue, New York, NY Phone: SOHO 451 West Broadway, New York, NY Phone: EAST HAMPTON 3 North Main Street, East Hampton, NY Phone: SOUTHAMPTON 31 Main Street, Southampton, NY Phone: BROOKLYN HEIGHTS 150 Montague Street, Brooklyn, NY Phone: PARK SLOPE 76 Seventh Avenue, Brooklyn, NY Phone: Fifth Avenue, Brooklyn, NY Phone: HUDSON VALLEY 526 Warren Street, Hudson, NY Phone: DEVELOPMENT MARKETING 831 Broadway, New York, NY Phone: WEST SIDE 408 Columbus Avenue, New York, NY Phone: VILLAGE 831 Broadway, New York, NY Phone: HARLEM 175 Lenox Avenue, New York, NY Phone: WASHINGTON HEIGHTS 819 West 187th Street, New York, NY Phone: BOERUM HILL 495 Atlantic Avenue, Brooklyn, NY Phone: COBBLE HILL 162 Court Street, Brooklyn, NY Phone: RIVERDALE 3531 Johnson Avenue, Riverdale, NY Phone: Mosholu Avenue, Riverdale, NY Phone: COMMERCIAL DIVISION 770 Lexington Avenue, New York, NY Phone: GLOBAL SERVICES 770 Lexington Avenue, New York, NY Phone: CONNECTICUT DARIEN 671 Boston Post Road, Darien, CT Phone: ROWAYTON 140 Rowayton Avenue, Rowayton, CT Phone: WESTPORT 379 Post Road East, Westport, CT Phone: WILTON 21 River Road, Wilton, CT Phone: NEW CANAAN 183 Elm Street, New Canaan, CT Phone: GREENWICH 2 Greenwich Office Park, Greenwich, CT Phone: STAMFORD 1099 High Ridge Road, Stamford, CT Phone: NEW JERSEY HOBOKEN 79 Hudson Street, Hoboken, NJ Phone: Prepared by Gregory Heym, Chief Economist, Halstead Property, LLC. Visit halstead.com for access to all of our reports, listings, neighborhood information and more by Halstead Property, LLC. All Rights Reserved. This information may not be copied, commercially used or distributed without Halstead Property s prior consent. While information is believed true, no guaranty is made of accuracy.