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Manhattan's million-dollar pads a bargain: survey
The New York Post - 04/27/2001
Author: Rita Delfiner

Millionaires who want to get a move on should love this - luxury two-bedroom apartments are a bargain in Manhattan compared with some other top cities, a new survey says.

The Big Apple ranked fourth on a survey of the most expensive two-bedroom apartments in the world - located on the best streets or neighborhoods - compiled by corcoran.com Global Real Estate.

London was No. 1, with the tab for an average 1,500-square-foot Eaton Square pad hitting an average $2,121,179, the survey said.

San Francisco came in second, with a Pacific Heights apartment setting you back an average $2 million; Hong Kong was third, with a place on Barker Road hitting an average $1,858,900, the survey said.

In Manhattan, the average 1,650-square-foot co-op or condo on Fifth Avenue has an average $1,722,000 price tag.

We're talking high-end luxury - but not ultra-fantasy.

"It would be a two-bedroom apartment between 60th and 96th street facing Central Park with two baths, a dining area and nice-sized kitchen," said Scott Durkin, chief operating officer of the Corcoran Group.

"This would be a doorman building. The apartment would be mid-floor within the building," he said.

Forget penthouse. The average tab would shoot up to about $5 million.

"This is strictly a two-bedroom," Durkin noted. "If you add another bedroom, you add $1 million."

Someone who could afford the luxury two-bedroom "has a net worth of about $1.5 to $2 million minimum," he said.

Singapore nailed 10th place in the survey of about 100 cities, with a two-bedroom costing an average $1,017,241

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