Remember that report last week about the impending lack of office space, which tossed around promises of a fearfully squished vacancy rate of under 3% in three years. Well, perhaps the most recognizable building in the city (aka the Empire State) isn't worried so much about that fate at the moment, as long as its vacancy rate is more like 18%, up from less than 2% in 2000, and that's "despite an asking rent nearly 25% below the average midtown rate of $48 per square foot," according to the Daily News, channeling Crain's. Granted, it's neither the newest place to work in the neighborhood, nor very unobtrusive on lists of post-9/11 targets, and the management can't seem to get their act together, either. But other than that, what's not to like? Changing lights all year (gosh, we missed Corporate Philanthropy Day)! A constant stream of tourists! Occasional imaginary visits by a big primate!
· Empire State falls short; Bldg.'s vacancies sky-high [NYDN]
· CBRE Predicting an Office Space Squeeze by 2009 [Curbed]
· Any Astronauts Want to Rent? [Curbed]
[Photo via Flickr/Hourman]