He dge Fund Index – Ma rket RecoveryEvery six months, we update the New York City hedge fund i ndex . The inde x tracks 24 C lass A and trophy b uildings in M idtown M anha ttan which have a h igh conce ntration of boutique he dge fund , investm ent m anag em ent, and related financ ial service tenants. In our latest edition, we a dded 6 50 M adison A venu e to the index. As the m arket recovery con tinues, pricing am ong the top tier buildings has increase d subs tantially. The high asking ren t is above $100 per sq. ft. in all but two of these signature properties. April 2011 Low Ask = Sublease Low Asking R ent Hi gh Aski ng R ent $80 $90 $125 $115 $96 $73 $85 $85 $63 $80 $49 $45 $77 $0 $110 $85 $60 $82 $0 $125 $65 $130 $80 $115 $210 $110 $110 $195 $120 $145 $105 $135 $135 $110 $90 $155 $125 $145 $120 $105 $ 0 $ 2 0 $ 4 0 $ 6 0 $ 8 0 $100 $120 $140 $160 $180 $200 $220 2 8 0 P a r k A v e n u e 3 2 0 P a r k A v e n u e 3 5 0 P a r k A v e n u e 3 7 5 P a r k A v e n u e 3 9 0 P a r k A v e n u e 4 5 0 P a r k A v e n u e 5 1 0 M a d i s o n A v e n u e 5 2 0 M a d i s o n A v e n u e 5 4 0 M a d i s o n A v e n u e 5 9 0 M a d i s o n A v e n u e 6 5 0 M a d i s o n A v e n u e 6 6 0 M a d i s o n A v e n u e 6 6 7 M a d i s o n A v e n u e 6 2 3 F i f t h A v e n u e 6 4 0 F i f t h A v e n u e 7 1 2 F i f t h A v e n u e 7 4 5 F i f t h A v e n u e 7 6 7 F i f t h A v e n u e 1 3 3 0 A v e n u e o f t h e A m e r i c a s 8 8 8 S e v e n t h A v e n u e 6 5 E a s t 5 5 t h S t r e e t 9 W e s t 5 7 t h S t r e e t 4 0 W e s t 5 7 t h S t r e e t 1 5 2 W e s t 5 7 t h S t r e e t H e d g e F u n d I n d e x R e n t $155 $60 $74 $125 $140 A s k i n g R e n t