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Summary of Economic Scenarios + Coworking Stress Midtown South Overall Market

Short U

2019 2020 2021 -0.1 -3.3 -1.7 8.5% 14.8% 17.6% $75.73 $68.24 $60.93 -1.4% -9.9% -10.7% 2019 2020 2021 -0.1 -3.5 -3.8 8.5% 15.2% 21.0% $75.73 $67.65 $54.02 -1.4% -10.7% -20.2%

Sharp V

2019 2020 2021 -0.1 -4.3 2.1 8.5% 16.3% 13.5% $75.73 $64.91 $67.80 -1.4% -14.3% 4.5%

Net Absorption

Net Absorption

Vacancy

Vacancy

Asking Rent Rent Growth

Asking Rent Rent Growth

Long U

Net Absorption

Vacancy

Asking Rent Rent Growth

Source: Cushman & Wakefield Research Absorption in MSF. Asking rents are gross, all classes, per square foot. Vacancy and rent growth are annual average % (changes) versus year-end. Class A figures are for direct space only.