NEW YORK CITY-With no successors to 11 Times Square or the new Goldman Sachs headquarters on the immediate horizon, construction starts in the city’s office sector could dip below $500 million for the year, the New York Building Congress says in a report issued Thursday. That’s about 80% less than the $2.6 billion seen in 2009, and is also well below the $1.3 billion in starts the year before. However, building activity in the sector is likely to climb gradually out of the trough over the next few years.

Following the opening of the Goldman Sachs tower at 200 West St. and the substantial completion of 11 Times Square, “the projects we hoped would replace them, such as the Gem Tower and 250 W. 55th St., are on hold,” Building Congress president Richard T. Anderson says in the report.

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