The owners of 11 Times Square broke ground for the 40-story skyscraper back in May 2007 when the real estate market was the tightest it had been in years. The owners projected the state-of-the-art tower would command an average rent of $110 a square foot. Two years later, the vacancy rate has swelled to 10.5%, and the owners of the speculative, still tenant-less building, scheduled to open in early 2010, are willing to deal at $80 a square foot...more