Posts Tagged ‘real estate’

Richard Florida
by Richard Florida
Fri Jun 17th 2011 at 8:00am UTC

Real Estate Is Spiky

Friday, June 17th, 2011

The map below shows the price of land in the New York metropolitan area (via Matt Yglesias) from this fascinating New York Fed study. The premium for land in central Manhattan is nothing less than extraordinary. Land prices rise and fall logarithmically according to their distance from midtown, notes to the study: “A parcel located five miles from the Empire State Building commands a price that is about twice as high as the price of a parcel ten miles away.”