Economists Jason Barr, Fred Smith, and Sayali Kulkarni of Rutgers University recently crunched the numbers for a paper titled What’s Manhattan Worth? A Land Values Index from 1950 to 2013 and came up with a staggering total.
By recording all the vacant sales and doing a little math, you can interpolate the value of all the land and conclude that in 2014 the island's land was worth about $1.4 trillion — almost 10 percent of the annual income of the entire United States.
Check out the full paper for more insights into Manhattan land value.
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