Military

CR-SDDATE=09/17/01

TYPE=CORRESPONDENT REPORT-S

TITLE=-MANHATTAN REAL ESTATE POST-TRAGEDY

NUMBER=2-280624

BYLINE= ELAINE JOHANSON

DATELINE=NEW YORK

INTERNET=YES

CONTENT=

VOICED AT:

INTRO: New York City is determined to keep businesses from moving out of Manhattan, in the wake of last Tuesday's terror attack on the World Trade Center. Companies that once occupied offices in the twin towers are looking to relocate. Elaine Johanson reports from New York.

TEXT: Approximately one-point-four-million square meters of valuable commercial property is now smoldering debris in lower Manhattan. It went suddenly missing last Tuesday, shortly after hijacked airliners ripped into the twin towers. New York City is worried it might lose business as companies scramble for new offices. That would be bad for New York's economy and New York officials add that would be a sign that the terrorists have succeeded in crippling the spirit of the world's financial and business center. Joseph Brows is the director of the New York Department of City Planning.

// BROWS ACTUALITY //

We're also looking to identify how we can very quickly mobilize to rebuild, obviously first that approximately 50 million square feet of space that was lost, but actually bring on more space... improve our infrastructure and emerge from this attack, showing clearly that we'll build back and have even more at the end of the day than we started out with.

// END ACTUALITY //

Cushman & Wakefield is the world's largest integrated real-estate company. It was an advisor last year on the sale on the sale of the World Trade Center. The company says there is plenty of available space for businesses that want to stay in Manhattan -- about two and half million square meters. Bruce Moseley, the president of the real estate company's American operation, says he is optimistic businesses will realize ultimately New York is the place to be and the city will do everything possible as fast as it can to make it happen.

// MOSLEY ACTUALITY //

...downtown open sooner than you think. But I think business will be back to usual relatively soon. And there are all kinds of caveats to that. But I go back to what I said in the beginning: New Yorkers are extraordinarily committed to seeing that what occurred does not impede their ability to do business.

// END ACTUALITY //

Some major companies are talking about what sounds like a permanent move out of Manhattan. But New York officials say these are still early days after the tragedy, expect a major public-relations campaign in the weeks ahead to convince businesses to keep their faith and their offices in the city. (signed).

NEB / DM-T / WD