Net income attributable to common stockholders totaled $7.7 million, or $0.09 per diluted share, for the quarter ended September 30, 2012, compared to $7.1 million, or $0.08 per diluted share, for the same quarter in 2011.
Operating and Leasing Activity
For the third quarter of 2012, the Company reported revenues and operating income of $361.4 million and $204.7 million, respectively, compared to $306.6 million and $162.3 million, respectively, for the same period in 2011. For the nine months ended September 30, 2012, the Company reported revenues and operating income of $1.0 billion and $653.7 million, respectively, compared to $934.6 million and $534.9 million, respectively, for the same period in 2011.
Same-store NOI on a combined basis increased by 0.4 percent to $575.3 million for the nine months ended September 30, 2012, after giving consideration to 1515 Broadway and 521 Fifth Avenue as consolidated properties, as compared to the same period in 2011. Consolidated property same-store NOI increased by 0.2 percent to $499.7 million and unconsolidated joint venture property same-store NOI increased 1.7 percent to $75.7 million.Same-store cash NOI on a combined basis increased by 5.4 percent to $516.1 million for the nine months ended September 30, 2012, after giving consideration to 1515 Broadway and 521 Fifth Avenue as consolidated properties, as compared to the same period in 2011. Consolidated property same-store cash NOI increased by 5.7 percent to $443.9 million and unconsolidated joint venture property same-store cash NOI increased 3.7 percent to $72.3 million. Occupancy for the Company’s stabilized, same-store Manhattan portfolio at September 30, 2012 was 93.3 percent as compared to 93.5 percent at September 30, 2011 and 93.2 percent at June 30, 2012. During the quarter, the Company signed 47 office leases in its Manhattan portfolio totaling 412,407 square feet. Eighteen leases totaling 306,837 square feet represented office leases that replaced previous vacancy, and 29 office leases comprising 105,570 square feet had average starting rents of $50.07 per rentable square foot, representing a 2.7 percent increase over the previously fully escalated rents on the same office spaces. The average lease term on the Manhattan office leases signed in the third quarter was 12.0 years and average tenant concessions were 4.8 months of free rent with a tenant improvement allowance of $41.53 per rentable square foot.
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