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Cubicle Stockpile

The glum news surrounding the Manhattan commercial real estate market is getting glummer, by gum: "Almost 16 million square feet is currently listed as available in large blocks in 68 office buildings in Manhattan, according to Colliers ABR, a commercial brokerage firm. That is nearly double the space available a year ago, both in terms of the number of large office blocks — which in New York usually means 100,000 square feet or more — and in terms of total square feet." And recent deals are down 20 to 30 percent from the summer. [NYT]