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Photograph: Courtesy Creative Commons/Flickr/Denial_Land

You now basically have to be a millionaire to own in Manhattan

By
Will Gleason
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Marrying a millionaire used to be an aspirational aim in Manhattan, now it's pretty much a survival technique.

For the first time, the MEDIAN prices of Manhattan apartments are just shy of $1,000,000. A combination of high demand and not-enough listings were to blame for the soaring prices in the third quarter of the year.

The new median sales price, $999,000 (who do they think they're fooling?), is a record-breaking high.

“It seems like a lot of money anyplace else,” said Dottie Herman, chief executive of Douglas Elliman Real Estate, which calculated a median price of $998,000. In Manhattan, “what you get for a million dollars is not a lot of space.” 

h/t The New York Times

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