Pricey Midtown East office real estate took a hard hit between 2007 and 2009, according to a submarket analysis released today by Eastern Consolidated. The report, which examines the neighborhood between Sutton Place and Fifth Avenue, and between 38th and 60th streets, looks at data from the last decade. The office building market in that neighborhood “epitomizes the rollercoaster ride in commercial sales over the last 10 years,” according to the report, which showed a startling drop between the peak year of 2007 and the as-of-now trough year of 2009 in Midtown East. While 2007 saw almost $10 billion worth of office building transactions close, just $100 million worth of transactions were made in the same market in 2009. And while 2007 saw 55 office buildings sales, 2009 only had three office building transactions in Midtown East. TRD