And mind you, you get no land for your million dollars
Average Manhattan Apartment Costs Over $1 Million
Tue Jul 13, 2004 03:58 PM ET
By Ilaina Jonas
NEW YORK (Reuters) - Who wants to be a millionaire?
Anyone who wants to buy a Manhattan apartment.
For the first time, the average price of a Manhattan apartment broke through the $1 million mark, as cheap money, a tight supply and an improving economy made most prospective buyers feel like paupers.
During the second quarter, the average sales price of a Manhattan apartment was $1,047,938 -- up 4.9 percent from the previous quarter and 20.9 percent above last year's average sales price, according to the quarterly Prudential Douglas Elliman Manhattan Market Overview report, released Tuesday.
Posted by Prometheus 6 on July 13, 2004 - 5:12pm :: Economics
