Economists Determine All of Manhattan's Land is Worth $1.4 Trillion

Manhattan | Overflying Manhattan, preparing to land at LaGuardia airport.
Manhattan | Overflying Manhattan, preparing to land at LaGuardia airport.

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.

via Vox

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