Steam Damage in the Range of Millions

New York, NY —

Experts predict that the economic damage from last week's steam pipe explosion in midtown Manhattan could reach into the tens of millions of dollars. The blast closed about 125 street-level shops and sent debris through the windows of some of the city's most expensive real estate, damaging office equipment.

REPORTER: Con Edison which owns the broken steam main says on its Web site that it will cover up to $9,000 each in claims from commercial customers for "perishable merchandise."

REPORTER: But business owners say that's not enough to compensate merchants for lost revenue. 42nd Street reopened early yesterday. Work closest to the steam pipe explosion at 41st Street and Lexington is estimated to take about a week to finish.