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The attack on September 11, 2001 had influence on the whole world, but the strongest on New York and its economy. This paper concentrates especially on office space market of Manhattan after that event. Due to the tragedy not only the two towers of World Trade Centre were destroyed but, because of the falling wreckage, also the surrounding buildings were damaged and as a result a lot of office space vanished. Those facts definitely affected the supply and demand of the market, but did they cause a significant turn?
Most of the predictions about the situation after the attack, assumed that because approximately 30 million square feet of office space was destroyed or damaged (J.Bram, J.Orr, C.Rappaport, 2002), then, as a result of decrease in supply along with almost none changes in demand, the price would rise. However, that occurred to be wrong.
The short-term affect on supply actually did not influence the market, as it has already been in downturn. Analyzing the period...

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Title: 9/11 And The Market For Manhattan Office Space
Approximate word count: 762
Approximate pages: 4 (250 words per double-spaced page)

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