Spoke on Bloomberg this afternoon - said his outlook for Manhattan real estate was negative in the near term as the worsening economy takes its toll.

Thought "while national real estate levels had another 15% to fall in addition to the 20% already taken, Manhattan will now be hit hard too though to a lesser extent than [35%]"

is he talking residential or commercial?

The numbers sound like residential, but he's a commercial guy...

not specified

Oh Zuckerman. He is just trying to sell magazines.