This page has been archived and commenting is disabled.
Downtown New York Office Vacancy Rate Spikes To 9/11 Levels
Surely this must be worth a strong buy upgrade of the REIT sector by someone (too bad most banks already have these in the "conviction buy to the grave" category). Bloomberg TV reports that the office vacancy rate in downtown NY has dropped to September 11th levels, and is about to pass 14%. In other words short reality, long hopium and office REITs, and presto - 100% P&L overnight. Who needs such boring things as cash flows when you have record vacancies and guaranteed, undisputed bailouts.
»
- 5849 reads
- Printer-friendly version
- Send to friend
- advertisements -
We can now call the sector "FAKE" Estate.
Downtown? Nobody but Petula Clark wants to go there. Midtown is doing just fine, though.
This is an amazing news piece considering IYR has retraced half of its post-LEH decline and 38% of its total decline off the 2007 high.
anyone know who owns 85 broad?
whoever it is, they're going to have to do a cleansing ceremony to clear out all the bad juju after the goldsack boys vacate the joint.
maybe even hire Father Amorth:
http://www.newser.com/story/82981/popes-exorcist-satan-is-in-the-vatican...
i'll bring the sage.
Off topic by a continent, wonder how Cali's doing selling those 11 State owned buildings . No wonder Lockyear's in a panic to move those GOs. The State-owned CRE sales were to net $ 6B.
I'm betting the May budgeting session in SAC is going to reveal some surprises that can't be covered any longer. That's why Lockyear is tearing into the hated Squid.....a deflect strategy.
Senator Feinstein's husband's real estate company is the listing agent to sell the buildings that the new owner will lease back to the State as rentals. Just an all around screw job on the public and an all around inside job on the money grab.
reminds me of the last peak - vacant buildings were worth more than occupied buildings, as you could proforma the rents to the moon.
The stupidity of real estate investors is beyond comprehension. They fall for the same shit over and over.
Wait till millions of square feet of new badly needed office space are completed in the new World Trade Center. Then the vacancy rate will reach a new post-9/11 high.
"business will get better"
"rents will be cheaper"
"lots of optimism"
OBAMA ????
Just drink the fuckin Koolaid, all right?!?!?
A little song for NYC -- Tightrope, by ELO
http://www.youtube.com/watch?v=CzvuTNhdL0w
"They say some days you gotta give--
They say some days you gotta take--
If that's the way it's gotta be,
Roll it over and you will see.
The city streets are full of people going nowhere making time.
The change from night to day is really only hours,
It's just along the line can't you see the sign
When I looked around, I was heading down,
Won't somebody throw me down a line..."
This decline may be permanent.
With a virtualization (see: digitalization) of the local, national and global economies, who would continue to pay the cost of living in NYC (since there are many other available substitute locations out of which to base operations).
Let me give you an example:
If you were a banker, or lawyer, doctor, etc., why not work in Charlotte, NC instead of NYC or Chicago and make similar money and take home more money net?
I think NYC's desirability could decay and the untapped 'reserves' of the midatlantic states from DC to NoVa to NC to GA will steadily gain in prominence while the northern power cities of yester year (think all of the old NFL team cities) like Detroit, Pittsburg, Clevland, etc. will continue to decline in economic viability.
[For those of you who have never done business or lived in the midatlantic (visiting doesn't count), this conjecture may seem ridiculous. If you grew up in New Jersey, went to Princeton, then Harvard MBA then worked in New York and now live in CT (and will retire in FL), then just bypass this comment.]
Any thoughts on the explosive growth opportunities in the midatlantic as an alternative to the over-rated NYC? Or do you think NYC will always comeback? Any other areas of the US viable places for the NYC refugees?
I don't see a sustainable comeback for NYC unfortunately. I love the city, however, it ain't looking good right now.
I scored a serious deal on a new apartment last year (rental from an individual condo owner), about 40% less per month than peak rent, PLUS, owner paid move-in, application fee, AND broker fee. Plus, 2mth exit option for tenant. Over $4,500 just to get an apartment leased!
So, this is the state of residential, commercial is a complete disaster and getting worse.
Unfortunately, NYC may stay on the slippery slope from hereon in.
You have a good point, as money is leaving NYC due to the high and increased taxes and state fiscal problems. Mid and south atlantic states may see a surge for other reasons too, like state soveringty issues.
It's even better...the major IYR components are paying dividends in STOCK!
At this rate of dilution, I am long IYR to infinity
all moving to Abu Dhabi of course...
Wow just like China.
"New York City Towers Empty"
Larry Silverstein = Next Uncle Sam sweetheart bailout deal
Did vacancy rates "spike" or "drop" to @14%?
Since 9/11(/01, I assume)... What time of day? By noon, was the vacancy rate higher or lower than it was @ 8 am? That is, if the World Trade Center buildings (& peripherals) were suddenly removed from the overall square footage available/vacant, wouldn't the relative percentage of vacancies suddenly drop?
I think I understand the gist of this article (vacancy rates are rising) but it could have been written better.
Yeah...and Monica Bertran is a 23 year old chick mainly notable for good looking that spoke with all the vested interest laden ppl that could give her a positive spin!!
Who gives a shit. The Mayans have it all ending in 2012 anyway. Fuck Elliot Waves, Fibonacci Ratios and all that crap. The Saints won the Super Bowl. The handwriting is on the wall. Got milk?
What is the big surprise? 9/11 destroyed a couple of buildings, today the Government has destroyed the economy. Of course, you don't think higher taxes had anything to do with the latter?
We have met the enemy, he is us. --Pogo
That's one coast and meanwhile on the other the largest building in Seattle is half empty and they missed a mortgage payment. http://seattletimes.nwsource.com/html/businesstechnology/2011431935_colu...
It's only one out of many so it should work out fine.
Downtown San Diego was about 40% empty and downtown Napa was looking a bit worse for wear recently... Localization and becoming a Locavore may possibly help turn around your local communities. Regardless we are on a 'walking path' to recovery..
Silicon Valley, 30% of some stripe malls now are empty. More and more 'For Lease' and 'For Sale' sgins pop up everywhere, not less. Thanks 'The worst is behind us'
Since 9/11(/01, I assume)... What time of day? By noon, was the vacancy rate higher or lower than it was @ 8 am? That is, if the World Trade Center buildings (& peripherals) were suddenly removed from the overall square footage available/vacant, wouldn't the relative percentage of vacancies suddenly drop? I think I understand the gist of this article (vacancy rates are rising) but it could have been written better.
_________________________________________________
chemical engineering jobs | chemical engineer | chemical engineer salary | renewable energy | gasification
You still need to physically be very close to the market to get optimal latencies... I get ass for latencies here.
Columbia Center [Seattle's tallest building] misses loan payment
Puget Sound Business Journal / Jeanne Lang Jones
http://seattle.bizjournals.com/seattle/stories/2010/03/22/daily26.html
"The loan servicer had to advance more than $1.6 million to cover the payment [on $380MM], according to Manus Clancy, managing director of Trepp LLC, a New York research firm tracking commercial mortgage-backed securities.
The loan servicer’s comment on the lapse, Clancy said: “Imminent default due to cash flow issues.” "
. . . .
"Nearly 20 percent of Columbia Center currently is vacant, and the 76-story tower is about to lose its largest tenant, online retailer Amazon.com Inc., which occupies 230,000 square feet. When that happens as scheduled next year, the 1.5 million-square-foot tower could be 33 percent vacant, unless the building’s property manager, CAC Group, is able to secure new tenants."
Is this (the columbia center) news just an isolated event, not indicative of the greater commercial real estate market? Or is this news a sign of more bad times to come...that the market is missing.
The REITs have been doing very well lately.
http://www.google.com/finance?client=ob&q=MUTF:VGSIX
http://online.wsj.com/article/SB1000142405270230360150457515417022686751...
Investors Win on REIT Path: Real-Estate Stocks Are Set to Notch Their Best First Quarter Since 2006
Could you (or anyone else) comment on your news/insight for Seattle in regards to the greater market outlook for commercial RE? Same with commenter from Silicon Valley.
Not sure--I'm in science not real estate. I just noticed the story in SEATAC on my way back from a class on the east coast.
Maybe Ghost can comment?
Good linux hosting option package offered by ucvhost which not only provides the best in terms of hosting packages but also believes in truly being there for the customer, 24x7. windows vps Moreover , they offer unlimited bandwidth as well as nearly 1GB storage along with database maintenance, email facility along with storage, availability of sub domain and many other important features for a very low price. ucvhost
Whenever i see the post like your's i feel that there are still helpful people who share information for the help of others, it must be helpful for other's. thanx and good job. Dubai offices are in demand now but rent is getting record lower. Especially in Downtown Dubai at business bay offices are in demand and companies are setting up their regional office there.
I visited this page first time and found it Very Good Job of acknowledgment and a marvelous source of info.........Thanks Admin!
http://www.reverse-phone-look-up.net
http://www.reverse-phone-look-up.net/phone-lookup/
Downtown San Diego was about 350-029 test 40% empty and downtown Napa was looking a bit worse for wear recently...642-456 test Localization and becoming a Locavore may possibly help turn around your local communities.PMI-001 test Regardless we are on a 'walking path' to recovery..
there is no doubt in this that we are now in a world where wer come across different and strange things happening in this world. Innovation is everywhere, personally I am also a fan of innovation, no matter in studies, technologies, science, beauty, fashion (but it should be good for human kind an world). there are alot of courses like hp dumps \ icnd dumps | iseb dumps | jncia dumps | juniper dumps | mcdba dumps | mcdst dumps | mcitp dumps | mcpd dumps | mcsa dumps | mcse dumps | mcts dumps | microsoft dumps In recent past it was just ok to get a master degree in any of the running field and set your career we are much more into virtual studies and doing all those stuffs where we can explore and learn more.. a lot certifications introduced by Microsoft, Cisco and other international certifications in which you can study and get a good career too. I am so happy to be part of this revolutionary field and do suggest you too. because at the end "it always up to you to decide"...thanks!!
Very good article! thank you to the author for it! In it interesting and useful information it is possible often times re-read it! I will advise to read it all friends. It will be very useful at writing of the article. Very much thankful you.zehra ise götünü bana dayamis vurduruyor ahh ohh yeahh diye inliyordu serpil porno izle meltem ve yelize hadi sakso çekmislerdi bende israr edince tamam ama yavas olucak ve sadece arkadan yapicaksin dedi bense tamam ohh soktum siktim siki? porno dedim ve bunlar türk sex soyundu zehrayi birakip melteme geçtim bu ara asli isini biliyor kameraya porno video ufacik kalçalrini tutup yaragimi götune yavasça soktum bende yavasça soktum yaragi kökune kadar soktum meltem sex video nolur çok aciyo diyordu bense artik çileden çikmistim ve basladim köküne kadar sokup çikariyordum meltem kendini ileri atiyor sex kizim diyerek götünü sikiyordum ve meltem acidan aglamaya baslayinca geçtim yelizin götüne sokar sokmaz yeliz inim inim sex izle yelizin üzerne abanip memelerni avuçluyor götüne sokaraak bebegm diyrdum ve yelz yere yigilip kaldi sira kizliklarini siki? kivrilip aci içnde yatmisti zehra kafasi guzel oldu için bacani siki? izle zehranin üzerine çikip yaragimi aminin uzerne getrdim netsiki? zehra nolurr yapma birak dedi ama elini bile kaldiramiyordu zehra bnm diyerek amina soktum seksizlesene ilk giriste kizligi patladi porno izle 3 unude sabaha kadar ewire çevre becerdim grup sex inim inim inleyerek sonunda beni bosalttilar sabah giyiip gttler porno asli gunluk 200 tl kazaniyordu porno pakize baska erkek arkadaslar ednyr sen baska porno kiz sikiyrsunda ben nye baska erkeklere vermm dyrdu bnde maadem öyle sana o kipkirmizi ami gözümün önündeydi seks izle ben çok azdim birden içeri girdim ablam napiosun dedi bende çok azdirdin seks izle beni dedim gel ozaman dedi bende banyoya girdim basladik öpüsmeye porno izle memelerinin ucu dimdik olmusdu ben sonra o killi porno izle amina parmak atmaya baslamisdim oda zevke geldi benmimkini aldi eline porno yalamaya basladi sonra hadi sok türkçe sex bana porno ilk domalt dim sonra basldm götüne sokmaya 5 dk git gel yapdim sonra bacaklarini porno koydum omuzuma basladim amina sokmaya travesti ben hemen bosaldim ben bosaldim oda benden 5 dk sonra titreyerek bosaldi sonra ikimizde porno banyodan çikdim yata?a gittik Porno videolar?, Sex indir, Porno indir, Türkçe porno, Pornolar, Seks, Porno videosu, Sex videolar?, Yerli porno izle site searches porn, porn, sex, sex, porn, porn videos, porn videos, online porn download, sex videos, free porn, porn video sex, porno film, sex film, porno, porno, Turkish Porn, Porn Videos porn sex hardsextube porn porno
porno izle porno izle porno siki? porno siki? porno porno indir porno porno pornporno porno porno porno porno porno sex youporn porno porno porno porno porn, porn, free porn, free porn and best porn video, hd porno, Turkish porn, hd porn, hidden porn shooting, high quality porn And live as virus-free porn, sex, sex tracking site porno porno porn, porno, porno,porno, porno, porno, porno, porno, porno, porn
Dizibe.com - Dizi, Dizi izle, Canl? dizi izle ve Yerli diziler gibi aramalarda sizlere hizmet veren en iyi dizi izleme sitesidir Dizibe.com sitemizde a??ag?daki tüm dizileri izleyebilirsiniz.Bunlar hangi diziler Ad?n? Feriha Koydum Akasya Dura??, Arka S?radakiler, Arka Sokaklar, Artiz Mektebi, A?k Bir Hayal, A?k ve Ceza, Babam Sa?olsun, Ba?rolde A?k, Behzat Ç, Beyaz Show, Bitmeyen ?ark?, Canan, Can?m Babam, Çocuklar Duymas?n, Çok Güzel Hareketler Bunlar, Deniz Y?ld?z?, Derin Sular, Disko Kral?, Düriyenin Gü?ümleri, Elde Var Hayat, Ezel, Fatmagülün Suçu Ne, Fragmanlar, Geni? Aile, Gönülçelen, Halil ?brahim Sofras?, Han?m?n Çiftli?i, Hayrettin, iffet, ?zmir Çetesi, Kan?t, Karada?lar, Karakol, Kavak Yelleri, K?z?m Nerede, Kollama, Komedi Dükkan?, Küçük Han?mefendi, Küçük S?rlar, Kurtlar Vadisi Pusu, Lale Devri, Leyla ile Mecnun, Mazi Kalbimde Yarad?r, Muhte?em Yüzy?l, Nuri, Öyle Bir Geçer Zamanki, Papatyam, Sakarya F?rat, ?ansl? Masa, Sende Gitme, Sihirli Annem, Survivor Ünlüler, Tek Türkiye, Tövbeler Tövbesi, Unutulmaz, Üsküdara Giderken, Yah?i Cazibe, Yer Gök A?k, Yerden Yüksek dizi izle, film izle, film izle film izle, dizi izle, gurbeteli, film izle, Branda.com.tr olarak en uygun fiyat garantisi ile tekne brandas?, yat brandas?, kamp çad?r?, körüklü tente, branda, mafsall? tente gibi hizmetlerimizden faydalana bilirsiniz, tekne brandas?, yat brandas?, kamp çad?r?, mafsall? tente, körüklü tente, branda ve benzeri hizmetleri tecrübemiz ile sizlere sunmaktay?z, Sohbet, Chat, Sohbet odalar? ve Chat odalar? gibi aramalarda sizlere hizmet veren en güzel chat rooms sitesidir chat chat, cam mozaik, Havuz mozaik, Mutfak mozaik, D?? cephe Uygun Fiyatl? cam mozaik profesyonel ustalar?m?z i?lemektedir cam mozayik, cam mozaik ,btb cam mozaik,d?? cephe cam mozaik,cam mozaik fiyatlar?,cam mozaik firmas?,cam mozaik firmalar?,cam mozaik nedir,cam mozaik'in tan?m?,cam mozaik nerelerde kullan?l?r,k?r?ml? cam mozaik,iç cephe cam mozaik,mutfak cam mozaik,mutfak için mozaik,mutfak kaplama mozaik,mutfak için tasar?mlar,mutfaklara yap?lan i?lem,mozaik firmalar?,mozaik nedir,mutfak için seramik,mutfak seramik,banyo için seramik,banyo için yap?lan i? Sitemizde bulunan tüm cam mozaik cam mozaik ürünleri, kalite standartlar?na uygun olarak üretilmektedir . Cam Mozaik i?levlerinde görsellik üst düzeyde tutulmaktad?r. Sanal tur, 360 derece, Panorama çekim, sanal tur Çekimleri, 360 derece istanbul, Virtual tour, 3D Hizmeti Veren En iyi ?nternet Sitesidir, Hosting, Reseller, Linux hosting, Domain, Sanal Sunucu, Web Tasarim Yazilim ve Web sahhosting Hizmetleri Saglamaktadir, Video izle, ilahi videosu seyret, kuran ve ilahi klipleri indir, islami videolar-Pek çok islami videonun bir arada bulundu?u payla??m sitesi. dini videolar, kabeden canl? yay?n kabeden canl? kamera izleme sayfas?. Hac, Mekke, Kabe görüntülerini 24 saat kesintisiz izleyin