At Street Level
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
Manhattan’s commercial real estate market may soon be flooded with millions of square feet of available office space as a result of this week’s Wall Street shakeout.
The takeover of Merrill Lynch by Bank of America, the bankruptcy of Lehman Brothers Holdings Inc., and the federal bailout of insurance giant American International Group could throw into play 10 million square feet of office space. That figure would be equivalent
to 2.2% of the total 450 million square feet of Manhattan office space.
