Manhattan Luxury Real Estate: A Bargain?

"It's all Relative" Albert Einstein's theory of relativity 

The Real Deal took a look at how Manhattan's high-end residential  market compares to other cities internationally. The article featured two charts. How many square feet does $1 million buy around the world? and Highest total asking prices by city around the world.

   Tour Odéon, Monaco

35,000 square foot penthouse asking $391 million

approx: $11,000 per square foot

 How many square feet does $1 million buy around the world?

City               Square Feet

Monaco             172

Hong Kong       204

London              247

Geneva              344

Paris                  409

Singapore         409

Moscow             463

New York           474

Highest total asking prices by city

City                  Address/Name                           Price (U.S. Dollars)

Monaco                   Tour Odeon                                   $391 million

London                   18 Carlton House Terrace          $391 million

Singapore               33 Nassim Road                         $242 million

Greenwich, CT       Cooper Beach Farm                   $190 million

Los Angeles           Owlwood Estate                          $150 million

Paris                        Palais Montmorency                   $140 million

Dallas                     Crespi Hicks Estate                     $135 million  

New York               The Pierre 795 Fifth Ave           $125 million

Hong Kong             5 Henderson Road                      $90 million

In the world economy a Manhattan luxury apartment is a real asset, a good value and perhaps a bargain.

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