In a press conference yesterday afternoon, Mosler stressed hisbelief that while client needs must and will be met, buildingowners are not about to take unfair advantage of prospectivetenants who may have only narrowly escaped tragedy. "The averageweighted cost of class A space is approximately $65 per sf," Moslersays. "I don't think you'll see a drop. But you will not see pricegouging by landlords. You will see people reach out to help oneanother."

Mosler estimated "11 to 12 million sf were destroyed" in theWorld Trade Center attacks, not including collateral damage thatmay not be calculated for weeks or months. He added, "it would beerroneous to state how much" the eventual damage assessment willbe.

As to where tenants will find space, Mosler said there isroughly 14 million sf of available space throughout the city in allclasses. Approximately 9 million sf of that space is on the subletmarket. Of course, clients' needs vary greatly and those requiringlarge blocks of space will have the roughest time. Some, he says,will turn to sublets, either temporarily or on a long-term basis.Others may have been protecting pockets of space and willbackfill.

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