Price of land in Manhattan? Try paying $430 a square foot

kpete

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Tue Nov-29-05 07:56 PM
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Price of land in Manhattan? Try paying $430 a square foot

Price of land in Manhattan? Try paying $430 a square foot
RAW STORY

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The price of air has gone up dramatically up in New York City -- to $430 a square foot, the New York Times is set to report Wednesday, RAW STORY has learned.

Despite warnings of a slowdown in the housing market, two New York developers have agreed to pay that record-setting amount for "air rights" that will enable them to build a 35-story apartment tower in the Silk Stocking District of Manhattan with views of Central Park.

Meanwhile, home sales in the United States slid from 7.29 million units in September to 7.09 million units in October.
http://rawstory.com/news/2005/Price_of_land_in_Manattan_Try_1129.html

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