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MARKET OVERVIEW PARK AVENUE: AN EVOLVING LANDSCAPE

Following JP Morgan Chase’s announcement to redevelop and expand its world headquarters building at 270 Park Avenue, the short- term outlook for the Park Avenue corridor is more positive than originally expected. Over the next three-plus years, 1.9 MSF of large leases will potentially expire, as the corridor begins to go through a transformation in the wake of the East Side Rezoning. Currently, the Park Avenue submarket vacancy is 10.3% and Class A overall asking rents average $100.81 PSF.

300 PARK AVENUE | 773,056 SF 1 P2–3: 47,966 SF, $77.00 (Q3 2020 Possession) 1 E5: 40,577 SF, $79.00 (Q3 2020 Possession) 1 E17–18: 52,984 SF, $89.00 (Q1 2021 Possession) 1 E22-24: 51,885 SF, $95.00 (Q1 2021 Possession) 211,509 SF | LXD 2023 Colgate Palmolive and subtenants 320 PARK AVENUE | 750,000 SF P10-17: 208,252 SF, $88.00 (Q2/3 2020 Possession) 350 PARK AVENUE | 570,000 SF 287,030 SF | LXD 2021 Ziff Brothers Investment & subtenants 375 PARK AVENUE | 830,928 SF 1 E2-10: 237,620 SF, $155.00 (Q4 19 possession) 399 PARK AVENUE | 1.7 MSF 1 E18–21: 96,203 SF, $110.00 (immediate possession) 61,228 SF | LXD 2019 Savills Studley 425 PARK AVENUE | 670,000 SF 1 E30–45: 222,400 SF, $200–$300.00 (Q1 2020 possession)

200 PARK AVENUE | 3.0 MSF 1 E12: 43,886 SF, $86.00 (Immediate Possession) 89,716 SF | LXD 2019 Oppenheimer & Co.

200,000 SF | LXD 2021 Greenberg Traurig LLP 330,260 SF | LXD 2023 Dreyfus Corp

245 PARK AVENUE | 1.8 MSF 1 E22: 37,334 SF, $95.00 (Immediate Possession) 2 E27-32: 222,6631 SF, $45-$50.00 (Q1 2020 Possession) 115,349 SF | LXD 2022 Houlihan Lokey 250 PARK AVENUE | 543,292 SF 1 E12-E14: 87,763 SF, $76.00 (Q3 19 possession) 230 PARK AVENUE | 1.4 MSF 1 E10: 72,838 SF, $75.00 (Immediate Possession) 277 PARK AVENUE | 1.9 MSF E19-20: 46,652 SF, $100.00 (Immediate Possession) E24-26: 69,496 SF, $105.00 (Q1 2021 Possession) E32-34: 69,541 SF, $110.00 (Q1 2021 Possession) E39-41: 73,051 SF, $115.00 (Q1 2021 Possession) E44-46: 73,252 SF, $120.00 (Q1 2021 Possession) 280 PARK AVENUE | 1.3 MSF 1 E30–31: 40,584 SF, $98.00 (immediate possession) 270 PARK AVENUE | 2.5 MSF 70-story New Development (Possession TBD) 299 PARK AVENUE | 1.2 MSF 1 E3–7: 141,567 SF, $87.00 (Immediate Possession) 57,506 SF | LXD 2020 American Securities Capital Partners

55 E. 52ND STREET | 1.2 MSF 1 E18-19: 60,704 SF, $89.00 (Q3 19 possession) 370,000 SF | LXD 2023 BlackRock (moving to 50 Hudson Yards)

65 E. 55TH STREET | 619,631 SF 1 E25, 26, 28, 29: 63,910 SF, $130-$135.00 (Arranged Possession) ONE VANDERBILT AVE | 1.7 MSF E15-16, E49-50, E53-55, E60-66: 407,434 SF, $140-$320 (Q4 2020 Possession)

LARGE AVAILABILITIES INCLUDE 40,000+ SF OF CONTIGUOUS SPACE

PROPERTIES LISTED IN BLUE DENOTE NEW DEVELOPMENTS

6 | Stephens Inc.