Angry New Yorker

Tuesday, March 30, 2004
[Ed. note -- So let me get this straight, by the time my future kids are ready to start thinking about buying a home in NYC, the entry price, extrapolating from the figures below, will be $1,700,000? Give me a break. Of course, by then, a person living in New York won't actually "take home" much thanks to NYS's insatiable tax appetite. I can't see this ending well for anyone.]


March 30, 2004 -- Manhattan apartment hunters are spending a lot more for a lot less.
Apartment prices in Manhattan have nearly doubled in price, but shrank in size by a fifth in the past 10 years, said a new report released yesterday.

The comprehensive Manhattan Market Report 1994-2003 showed the average price for a Gotham apartment was a staggering $872,160 last year - up 93.8 percent from the 1994 average of $450,084.

The average price per square foot jumped even more during the same time - 146.7 percent from $278 to a record high of $686 per square foot.

The survey found that studios, one-bedrooms, two-bedrooms and three-bedrooms all set price-per-square-foot records last year - jumping about an average of 15 percent over the previous year. Setting an even higher record were four-bedroom apartments, which jumped 28.7 percent in price-per-square-foot.

[full article here]

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