住友不動産販売 NEW YORK

RESIDENTIAL MARKET REPORT 4Q 2014 SUMITOMO REAL ESTATE SALES 800 SECOND AVENUE, SUITE 300 NEW YORK, NY 10017 (212) 596-0800 WWW.SUMITOMO-NY.COM

RENTAL 賃貸市場 MANHATTAN

QUICK LOOK MH OVERVIEW 概要 PRICES 中間賃料 4.8% VACANCY 空室率 0.27% KEY POINT: 中間賃料過去 10 期連続上昇 新規契約数の継続的増加 底堅い賃貸需要を反映 DEC 14 前年比変化率 DEC 13 Ave Rental Price 平均賃料 $3,960-1.2% $4,009 Median Rental Price 中間賃料 $3,250 4.8% $3,100 # of New Rentals 新規契約数 2,822 33.8% 2,109 Days on Market リスティング期間 51-5.6% 54 Listing Discount 割引率 3.9% 5.1% Listing Inventory 市場在庫 5,493-14.3% 6,409 Vacancy Rate 空室率 2.52% 2.79% PROPERTY TYPE 物件種類別 Median Rental Price 中間賃料 DEC 14 前年比変化率 DEC 13 Doorman ドアマン付き $3,765 4.6% $3,600 Non Doorman ドアマン無し $2,678 6.4% $2,518 New Development 新築 $3,840-7.3% $4,142 BY PRICE 賃料別 Median Rental Price 中間賃料 DEC 14 前年比変化率 DEC 13 Luxury (Top 10%) 上位 10% $8,495-6.6% $9,095 Upper Tier (3 rd 30%) 上部層 30% $4,395 0.3% $4,382 Mid Tier (2 nd 30%) 中央層 30% $3,067 2.3% $2,997 Entry Tier (1 st 30%) 下部層 30% $2,150 0.0% $2,150 BY LOCATION エリア別 Median Rental Price 中間賃料 DEC 14 前年比変化率 DEC 13 Uptown $2,081 13.8% $1,828 Side $2,900 6.9% $2,713 West Side $3,335 0.4% $3,322 Downtown $3,585 5.4% $3,400 出所 : Miller Samuel Inc. Market Report 3

QUICK LOOK STUDIO MH $1,720 $2,403 Harlem Non Doorman Doorman Average Price 平均賃料 $ 2,366 Non Doorman $2,161 $2,659 Upper West Side Central Park $2,004 $2,583 Upper Side $ 2,970 Doorman $2,145 $2,982 Midtown West Midtown $2,266 $2,759 Price Change YoY 前年比価格上昇率 Murray Hill $2,334 $2,879-1.0% (-$24) $2,798 $3,138 Chelsea $3,229 $2,844 Gramercy Park Greenwich Village $2,370 $3,041 Village $2,279 $3,393 +6.3% (+$176) $3,840 N/A $3,700 $3,671 SoHo TriBeCa Lower Side $2,124 $3,245 N/A $2,967 Battery Park City Financial District $2,979 $3,019 出所 : MNS Manhattan Rental Market Report http://www.mns.com/manhattan_rental_market_report 2013.12 2014.1 2014.2 2014.3 2014.4 2014.5 2014.6 2014.7 2014.8 2014.9 2014.10 2014.11 2014.12 Non Doorman 2,390 2,431 2,424 2,459 2,481 2,549 2,449 2,782 2,630 2,352 2,277 2,331 2,366 Doorman 2,794 2,879 2,888 2,871 2,889 2,856 2,859 2,884 2,930 2,932 2,946 2,937 2,970 4

QUICK LOOK 1BR MH $2,092 $2,976 Harlem Non Doorman Doorman Average Price 平均賃料 $ 3,051 Non Doorman $2,743 $3,726 Upper West Side Central Park $2,443 $3,696 Upper Side $ 4,045 Doorman $2,676 $3,887 Midtown West Midtown $2,818 $3,741 Price Change YoY 前年比価格上昇率 Murray Hill $2,813 $3,605-2.4% (-$75) $3,224 $4,318 Chelsea $3,567 $4,682 Gramercy Park Greenwich Village $2,964 $4,024 Village $2,740 $4,289 + 1.5% (+$61) $3,624 $5,600 $4,898 $4,699 SoHo TriBeCa Lower Side $2,615 $3,861 N/A $3,810 Battery Park City Financial District $3,499 $3,769 出所 : MNS Manhattan Rental Market Report http://www.mns.com/manhattan_rental_market_report 2013.12 2014.1 2014.2 2014.3 2014.4 2014.5 2014.6 2014.7 2014.8 2014.9 2014.10 2014.11 2014.12 Non Doorman 3,126 3,156 3,128 3,218 3,216 3,187 3,141 3,179 3,165 2,983 3,026 3,287 3,051 Doorman 3,984 3,949 3,953 4,003 4,009 4,060 4,076 4,044 4,135 4,151 4,043 3,978 4,045 5

QUICK LOOK 2BR MH $2,612 $4.318 Harlem Non Doorman Doorman Average Price 平均賃料 $ 4,133 Non Doorman $3,816 $5,926 Upper West Side Central Park $3,180 $5,978 Upper Side $ 6,033 Doorman $3,399 $5,813 Midtown West Midtown $3,799 $5,492 Price Change YoY 前年比価格上昇率 Murray Hill $3,511 $5,377 + 1.0% (+$42) $4,495 $6,382 Chelsea $4,806 $6,152 Gramercy Park Greenwich Village $3,901 $5,474 Village $3,603 $5,543 + 1.9% (+$111) $4,879 $9,038 $7,154 $7,644 SoHo TriBeCa Lower Side $3,500 $5,649 N/A $6,351 Battery Park City Financial District $5,214 $5,360 出所 : MNS Manhattan Rental Market Report http://www.mns.com/manhattan_rental_market_report 2013.12 2014.1 2014.2 2014.3 2014.4 2014.5 2014.6 2014.7 2014.8 2014.9 2014.10 2014.11 2014.12 Non Doorman 4,091 4,141 4,189 4,209 4,215 4,272 4,186 4,212 4,182 4,139 4,157 4,269 4,133 Doorman 5,922 5,874 5,910 5,894 6,062 6,060 5,970 5,948 5,808 5,748 5,900 5,827 6,033 6

RENTAL 賃貸市場 BROOKLYN QUEENS

QUICK LOOK BK OVERVIEW 概要 PRICES 中間賃料 9% NEW RENTALS 新規契約 111% KEY POINT: すべての間取りの中間賃料上昇 賃料上昇傾向続くも マンハッタン比割安水準のため 新規契約旺盛 ( 前年比 111% 上昇 ) DEC 14 前年比変化率 DEC 13 Ave Rental Price 平均賃料 $3,139-1.3% $3,181 Median Rental Price 中間賃料 $2,900 9% $2,660 # of New Rentals 新規契約数 441 111.0% 209 Days on Market リスティング期間 55 7.8% 51 Listing Discount 割引率 3.9% 7.9% Listing Inventory 市場在庫 1,893 17.5% 1,611 BY TYPE 物件種類別 Median Rental Price 中間賃料 DEC 14 前年比変化率 DEC 13 Studio $2,310 15.6% $1,999 1 Bed Room $2,630 9.8% $2,395 2 Bed Room $3,210 2.1% $3,143 3+ Bed Room $4,091 8.4% $3,775 BY PRICE 賃料別 Median Rental Price 中間賃料 DEC 14 前年比変化率 DEC 13 Luxury (Top 10%) 上位 10% $5,245-13.6% $6,073 New Development 新築 $3,156 19.2% $2,648 出所 : Miller Samuel Inc. Market Report 8

QUICK LOOK RENT BK AVERAGE RENT BY NEIGHBORHOOD $2,611 $3,123 $4,328 Downtown Brooklyn $2,231 $2,927 $4,456 $2,275 $2,770 $3,527 Fort Green $2,880 $4,043 $5,788 DUMBO Brooklyn Heights Clinton Hill $1,884 $2,495 $3,041 $2,624 $2,528 $3,219 Greenpoint Williamsburg $2,579 $3,088 $3,947 Bushwick $1,864 $2,048 $2,203 Studio 1 Bed Room 2 Bed Room Cobble Hill $2,280 $2,852 $3,545 Boerum Hill $2,846 $2,860 $3,557 Park Slope Bed Stuy Crown Heights $1,704 $1,881 $2,256 $1,565 $1,880 $2,262 $2,020 $2,562 $3,292 Prospect Lefferts Gardens $1,399 $1,635 $2,121 Bay Ridge $1,284 $1,580 $2,150 出所 : MNS Brooklyn Rental Market Report http://www.mns.com/brooklyn_rental_market_report 9

QUICK LOOK QN OVERVIEW 概要 PRICES 中間賃料 5.9% NEW RENTALS 新規契約 121% KEY POINT: すべての価格形態にて賃料上昇 賃料上昇傾向続くも マンハッタン比割安水準のため 新規契約旺盛 ( 前年比 121% 上昇 ) DEC 14 前年比変化率 DEC 13 Ave Rental Price 平均賃料 $3,015 4.9% $2,875 Median Rental Price 中間賃料 $2,839 5.9% $2,680 #of New Rentals 新規契約数 137 121.0% 62 Days on Market リスティング期間 40 166.7% 15 Listing Discount 割引率 0.4% 0.1% Listing Inventory 市場在庫 254 N/A N/A BY TYPE 物件種類別 Median Rental Price 中間賃料 DEC 14 前年比変化率 DEC 13 Studio $2,325 8.5% $2,143 1 Bed Room $2,830 11.4% $2,540 2 Bed Room $4,292 26.2% $3,400 3+ Bed Room $3,484-28.2% $4,850 BY PRICE 賃料別 Median Rental Price 中間賃料 DEC 14 前年比変化率 DEC 13 Luxury (Top 10%) 上位 10% $4,895 7.3% $4,563 New Development 新築 $2,995 0% $2,994 出所 : Miller Samuel Inc. Market Report 10

QUICK LOOK RENT QN AVERAGE RENT BY NEIGHBORHOOD Studio 1 Bed Room 2 Bed Room $2,338 $2,895 $3,888 $1,590 $2,037 $2,420 N/A $1,680 $1,954 $1,452 $1,668 $2,317 $1,717 $1,894 $2,218 N/A $1,705 $2,298 $1,622 $1,899 $2,683 11

SALE 売買市場 MANHATTAN BROOKLYN QUEENS WESTCHESTER

QUICK LOOK MH OVERVIEW 概要 PRICES 中間価格 中古 8.4% 3.5% 新築 SALES 売買取引数 中古 新築 13.0% 16.8% INVENTORY 在庫 中古 新築 39.2% 103.1% KEY POINT: 中古 新築市場における中間価格 SF あたり単価の上昇傾向継続 市況好転に伴う新築物件の建築ラッシュにより 市場供給増加するも リスティング期間が長期化することなく 引続きの市場需要の強さが確認される CONDOMINIUM 4Q 2014 前年比変化率 4Q 2013 Ave Sale Price 平均価格 $2,104,048-0.5% $2,115,228 Ave Price / Sqft SFあたり単格 $1,552 9.9% $1,412 Median Sale Price 中間価格 $1,431,250 8.4% $1,320,000 #of Sales (Closed) 売買取引数 1,115-13.0% 1,281 Days on Marketリスティング期間 104 1.0% 103 Listing Discount 割引率 3.2% 6.0% Listing Inventory 市場在庫 2,687 39.2% 1,930 NEW DEVELOPMENT 4Q 2014 前年比変化率 4Q 2013 Ave Sale Price 平均価格 $3,156,968 17.2% $2,694,436 Ave Price / Sqft SFあたり単格 $1,871 17.8% $1,588 Median Sale Price 中間価格 $1,785,000 3.5% $1,725,000 # of Sales 売買取引数 272-16.8% 327 Days on Market リスティング期間 102 0.0% 102 Listing Inventory 市場在庫 1,440 103.1% 709 RESALE CONDO HISTORICAL SALE PRICE $1,600,000 $1,700 $1,400,000 $1,200,000 $1,500 $1,000,000 $1,300 $800,000 $1,100 $600,000 $900 $400,000 $700 出所 : Miller Samuel Inc. Market Report Median Sale Price Average PPSF 13

QUICK LOOK PRICE MN $608K $762 Uptown Median Price Ave Price / sqft Average Price 平均賃料 $ 1,970,000 Ave Price $ 1,268,000 Median Price $1,380K $1,831 Upper West Side Central Park $1,608K $1,484 Upper Side ($ 1,468 Ave Price /sqft) Price Change YoY 前年比価格上昇率 Midtown $1,088K $1,325 + 9% ($1,811,000 4Q2014) Murray Hill + 8% ($1,168,000 4Q2014) + 7% ($1,375,000 4Q2014) Downtown $1,738K $1,641 Sales Share Med Sale Price Studio 0% $597,000 1 Bed -6% $882,000 2 Bed -2% $1,783,000 3+ Bed 11% $3,838,000 Financial District Battery Park City $1,043K $1,170 出所 : PropertyShark.com/maps 14

QUICK LOOK BR OVERVIEW 概要 PRICES 中間価格 中古 新築 1.9% 15.1% MARKETING TIME リスティング期間 中古 新築 72.9% 52.4% KEY POINT: ブルックリン地区全体における中間価格過去 9 期連続上昇 マンハッタン比における割安感を背景に 中古 新築市場のリスティング期間の大幅な縮小や割引率低下など市場需要の逼迫が顕著に見られる CONDOMINIUM 4Q 2014 前年比変化率 4Q 2013 Ave Sale Price 平均価格 $826,470 6.8% $774,054 Ave Price / Sqft SFあたり単格 $770 1.9% $756 Median Sale Price 中間価格 $690,000 6.8% $646,250 #of Sales 売買取引数 611 19.8% 510 Days on Market リスティング期間 23-72.9% 85 Listing Discount 割引率 5.2% 12.9% NEW DEVELOPMENT 4Q 2014 前年比変化率 4Q 2013 Ave Sale Price 平均価格 $927,209 8.3% $856,331 Ave Price / Sqft SFあたり単格 $928 11.8% $830 Median Sale Price 中間価格 $871,500 15.1% $757,000 #of Sales 売買取引数 68-59.0% 166 Days on Market リスティング期間 30-52.4% 63 RESALE CONDO HISTORICAL SALE PRICE $800,000 $900 $800 $600,000 $700 $400,000 $600 $500 $200,000 $400 $- $300 出所 : Miller Samuel Inc. Market Report Median Sale Price Average PPSF 15

QUICK LOOK QN OVERVIEW 概要 PRICES 中間価格 CONDO 6.1% 5.4% CO-OP SALES 売買取引数 CONDO CO-OP 34.5% 41.3% KEY POINT: クイーンズ地区全体における中間価格過去 8 期連続上昇 市場在庫の増加と売買取引数の減少より 市場バランスにやや供給多寡傾向が見られる CONDOMINIUM 4Q 2014 前年比変化率 4Q 2013 Ave Sale Price 平均価格 $475,667 6.1% $448,369 Ave Price / Sqft SFあたり単格 $497 25.2% $397 Median Sale Price 中間価格 $412,856 3.2% $400,000 # of Sales 売買取引数 338-34.5% 516 CO-OP 4Q 2014 前年比変化率 4Q 2013 Ave Sale Price 平均価格 $227,910 5.4% $216,303 Median Sale Price 中間価格 $205,000 6.5% $192,500 # of Sales 売買取引数 663-41.3% 1,129 NEW DEVELOPMENT 4Q 2014 前年比変化率 4Q 2013 Ave Sale Price 平均価格 $499,697-22.5% $644,969 Ave Price / Sqft SFあたり単格 $595-3.1% $614 Median Sale Price 中間価格 $446,160-26.9% $610,000 # of Sales 売買取引数 107 0.0% 107 RESALE CONDO HISTORICAL SALE PRICE $500,000 $600 $400,000 $500 $300,000 $400 $200,000 $300 $100,000 $200 $- $100 出所 : Miller Samuel Inc. Market Report Median Sale Price Average PPSF 16

QUICK LOOK WC OVERVIEW 概要 PRICES 中間価格 HOUSE SALES 売買取引数 HOUSE 3.6% 2.1% KEY POINT: 戸建て (Single Family House) 中間価格に上昇は見られるものの ウェストチェスター地区全体においては前年と変わらず 市場に緩和傾向が見られる リスティング期間の大幅な縮小は 2014 年 1Q における MLS(Multiple Listing Service) の計算方法変更によるもの SINGLE FAMILY 4Q 2014 前年比変化率 4Q 2013 Ave Sale Price 平均価格 $769,899 3.6% $742,931 Ave Price / Sqft SFあたり単格 $308 4.8% $294 Median Sale Price 中間価格 $568,000 1.4% $560,000 #of Sales 売買取引数 1,245 2.1% 1,219 Days on Market リスティング期間 106-39.4% 175 Listing Discount 割引率 4.3% 9.3% Listing Inventory 市場在庫 2,231 0.2% 2,226 AREA: Median Sale Price 4Q 2014 前年比変化率 4Q 2013 North $772,500 2.7% $752,500 North Central $528,250-5.0% $556,250 North West $380,500 9.7% $347,000 River Towns $745,000 15.1% $647,000 Sound Communities $836,000-6.6% $895,000 South Central $681,000 20.5% $565,000 South $438,011 1.9% $430,000 RESALE SINGLE FAMILY HISTORICAL SALE PRICE $800,000 $400 $350 $600,000 $300 $250 $400,000 $200 $150 $200,000 $100 $50 $- $- 出所 : Miller Samuel Inc. Market Report Median Sale Price Average PPSF 17