Average Manhattan Apartment Costs Over $2 Million

Yahoo Finance reports that the average Manhattan apartment is over $2 million, while the median apartment is more like $1.1 million.

3 Explanations For This Discrepancy

  1. Donald Trump’s penthouse is driving up the average, in part, because like his net worth, he inflates the value of this suite by $6 billion dollars because it features chattels like artwork and Donald Trump.
  2. There’s no discrepancy: averages make better clickable headlines, even if they don’t mean very much!
  3. Apartments appraised by New York based banks – what could possibly go wrong?
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Categories: Mildly Bad News

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