NEW YORK — Initial Grubb & Ellis statistics indicate that 20% of the downtown Manhattan office market (a total of 27.5 million sq. ft.) was destroyed or damaged by Tuesday’s terrorist attacks.
The World Trade Center bombing destroyed 15.5 million sq. ft. of space. Grubb & Ellis also reported that another 12 million sq. ft. of office space was damaged by debris, building collapses and fires in the aftermath of the attack.
Of the 15.5 million sq. ft. in the World Trade Center area, about 97% (roughly 15 million sq. ft.) was leased at the time of the attack. Of the 12 million sq. ft. believed to be damaged, 11.5 million sq. ft. was leased.
The current available space in Manhattan is about 25.5 million sq. ft., according to Grubb & Ellis, although only a small percentage of this available space may be in the large floor plate format like that found in the World Trade Center and surrounding buildings.
An additional 22 million sq. ft. of vacant space is immediately available outside Manhattan in northern New Jersey, Nassau County, Long Island, Westchester and Fairfield counties.
Office Buildings Destroyed
• 1 WTC; 4.7 million sq. ft.; 4.5 million sq. ft. occupied
• 2 WTC; 4.7 million sq. ft.; 4.5 million sq. ft. occupied
• 7 WTC; 2 million sq. ft.; 2 million sq. ft. occupied
• 5 WTC; 783,500 sq. ft.; 781,000 sq. ft. occupied
• 4 WTC; 576,000 sq. ft.; 561,491 sq. ft. occupied
• 6 WTC; 537,700 sq. ft.; 537,700 sq. ft. occupied
• 1 Liberty Plaza; 2.1 million sq. ft.; 2 million sq. ft. occupied; partial collapse
Office Buildings Damaged
• 2 WFC; 2.6 million sq. ft.; 2.5 million sq. ft. occupied
• 3 WFC; 2.3 million sq. ft.; 2.2 million sq. ft. occupied
• 1 WFC; 1.5 million sq. ft.;1.3 million sq. ft. occupied
• 1 Bank T. Plaza.; 1.4 million sq. ft.; 1.4 million sq. ft. occupied
• 140 West; 1.2 million sq. ft.; 1.17 million sq. ft. occupied
• 90 Church; 950,000 sq. ft.; 950,000 sq. ft. occupied
• 195 Broadway; 875,000 sq. ft.; 676,000 sq. ft. occupied
• 22 Cortland; 668,110 sq. ft.; 556,000 sq. ft. occupied
• 90 West; 350,000 sq. ft.; 335,000 sq. ft. occupied
• 114 Liberty; 69,000 sq. ft.; 69,000 sq. ft. occupied
• 26 Cortland; 25,000 sq. ft.; 25,000 sq. ft. occupied
• 106 Liberty; 18,000 sq. ft.; 18,000 sq. ft. occupied
• 110 Liberty; 6,000 sq. ft.; 6,000 sq. ft. occupied
Source: Grubb & Ellis
