BY JOTHAM SEDERSTROM

Early indications suggest that the period between October and December will clock in as the most active fourth quarter since 2007, just before Manhattan’s office market imploded.

And while lease flow in 2012 was a far cry from 2011, when deals by Condé Nast and Nomura Holding straddled the million-square-foot precipice, a bevy of eleventh-hour transactions by Microsoft and Kaye Scholer in the fourth quarter of 2012 helped close the gap.

The Commercial Observer reviewed fourth-quarter leasing in Midtown South with Cushman & Wakefield Director of Research Jonathan Mazur last week in an bid to gleam a snapshot of the quarter. An annotated guide, after the jump.

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BY AL BARBARINO

After signing an 82,000-square-foot deal for three floors—not to mention an option for a fourth—at 250 Park Avenue in May of last year, wine and spirits company Pernod Ricard’s new flagship space consolidated Pernod Ricard USA and Pernod Ricard Americas, which owns brands like Absolut Vodka and Jameson Irish Whiskey.

With the deal, the company now occupies floors 16 through 18, with a focus on the 17th floor, where an open layout and exposed, distillery-like environment commingle with a lounge and conference rooms.

“We’re loving this space—it came out so great,” said Scott Spector, principal of the Spector Group, which designed the space. “It’s one of the coolest spaces we’ve ever worked in on Park Avenue. Some will likely argue that the finished product is even cooler.”

After the jump, Mr. Spector reviews the furniture plans with The Commercial Observer and explains what, exactly, drew Pernod Ricard to 250 Park Avenue.

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BY ROBERT SAMMONS

The overall vacancy rate for metro New York City closed out 2012 at 12.2 percent, equal to the third-quarter 2012 figure.

But first, the bad news.

Fairfield County, despite some rather high-profile announcements last year, had the highest vacancy rate, with 20.8 percent, up 50 basis points during the quarter. Right behind it was Westchester County, which climbed back over the 20 percent figure during the quarter.

The increases in these two affluent markets were caused by smaller spaces added in a number of properties. The Hudson Waterfront saw a sharp increase in its vacancy rate because the entire 145,000 square feet at 800 Harbor Boulevard in Weehawken was made available (this property may be converted into a data center).

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BY KARSTEN STRAUSS

Fine fashion accessories importer, Ruyi Design and Mancufacture Inc., made a move to a higher floor with more space at 1410 Broadway. The company’s new 12th floor home triples the space it had while on the fifth floor, bringing its total footprint to 3,480 square feet as part of an eight-year lease.

The deal closed in the latter half of December and asking rent was in the mid $40s per square foot.

“Business is growing,” said Ruyi director of operations, Patty Man, adding that the larger space will accommodate a more expansive showroom and the addition of six to eight new employees.

The company had been seeking a larger office for about nine months – even looking in other buildings in the neighborhood – but was happy to remain at 1410 Broadway to avoid the cost of breaking its lease and moving. Ruyi had occupied its fifth floor space for about two-and-a-half years, Ms. Man said.

“Helping a company grow is among the things we like doing best,” said Thomas P. Sullivan, executive managing director with Coldwell Banker Commercial Alliance, which represented Ruyi.

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