From the realdeal.net:
Moreover, this price includes crappy apartments in crappy areas like Harlem.
Average Manhattan price per foot sets record
October 11, 12:50 pm
Largely lost in the media froth over the Miller Samuel residential market report last week was this: The average price per square foot of a Manhattan apartment set an all-time record in the third quarter. It bounced to $984, a 1.4 percent increase over the second quarter and a 22.5 percent jump over the same period in 2004. The record came during a quarter when the overall market increased, according to Miller Samuel CEO Jonathan Miller. Also, the market share for studios and one-bedrooms surged during the quarter, driving average prices up in that market and affecting the overall residential market.>
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