The NBA has, at last count, been on and off the market since, get this, 2001. (Remember that Ninth Avenue deal that fell through?) Since at least 2007, the Association has been looking once again, this time for around 150,000 to 200,000 square feet, apparently cognizant of its pending lease expiration in 2010.  “They’ve been looking everywhere, including renewing in place,” said one top broker.

“Everywhere” includes 1166 Avenue of the Americas and the under-construction 11 Times Square. At the latter, the firm went so far as to do layouts, the broker said. There was even discussion of painting the globe at the building’s setback to look like a basketball, perhaps emblazoned with the letters “NBA.”

But, said the broker, “since September, they’ve been sitting on their hands.”

Sitting on their hands, as in, waiting for the economic turbulence to settle down? Or sitting on their hands, as in, staying put in their 150,000 square feet at Olympic Tower at 645 Fifth Avenue?

“I don’t know what the hell they’re doing,” the broker said.

Newmark’s Barry Gosin and Moshe Sukenik, who are repping the tenant, wouldn’t comment. Nor would an NBA spokesman.

drubinstein@observer.com

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