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.
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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