reports that the average price of a single square foot was a mere $617 back in 2002. Now it stands at $1,087.
According to NY Daily News
, the average sales price in Manhattan is now $1,426,912, which is a massive 80% higher than the average in 2002, according to a new report from Prudential Douglas Elliman.
“The big message is: steady, steady, steady, safe, safe safe,” said Steven James, president of the Manhattan brokerage firm for Prudential Douglas Elliman.
“While the national market is still declining, Manhattan has been stable for two-and-a-half years,” said Jonathan Miller, CEO of appraisal firm Miller Samuel, which compiled the Prudential Douglas Elliman Report.
Last year saw the record-breaking sale of a luxuriant 15 Central Park West apartment for $88 million
to Russian billionaire Dmitry Rybolovlev, who then handed the apartment straight over to his ever-so-fortuitous 22-year-old daughter.