search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aFlorida Rock pays $98M for quarry in Miami-Dade CountyFlorida Rock pays $98M for quarry in Miami-Dade CountyMarty Burger’s new venture sputters on takeoffMarty Burger’s new venture sputters on takeoffDavid Werner strikes $115M deal to snap up 100 Wall Street at big discountDavid Werner strikes $115M deal to snap up 100 Wall Street at big discount
New York

12 billionaires could buy all of Manhattan if they wanted

All residential real estate in Manhattan costs an estimated $192.5 billion

<em>How the world's richest could divvy up Manhattan (credit: PropertyShark)</em>
How the world's richest could divvy up Manhattan (credit: PropertyShark)

Forget the penthouse overlooking Central Park — that’s for mere peasants. Seven of the world’s richest people could buy every home around the 843-acre park. Add five more billionaires, and the group could buy all of Manhattan to the tune of $192.5 billion.

PropertyShark crunched the numbers and found that the top 12 richest people on Forbes’ billionaires list could collectively buy all residential property in Manhattan (assuming all sellers were willing). The math isn’t exactly perfect: The listing site calculated the cost of all Manhattan homes by multiplying the number of residential units in each neighborhood by the average sales price of homes there in the third quarter of 2016. So, these billionaires would have to act now and also would need to dedicate their entire net worths to add a whole borough to their portfolio. Buying Brooklyn would cost $245 billion.

(Click to enlarge)

(Click to enlarge)

Sign Up for the undefined Newsletter

Still, it’s kind of fun to think about a Facebook- or Amazon-themed Upper West Side, courtesy of the neighborhood’s benevolent new overlords  landlords, Jeff Bezos and Mark Zuckerberg. No? Or Carlos Slim’s Seaport has a nice ring to it. Or what about Lower Manhattan — I mean, Larryville, named for major landlords Larry Ellison and Larry Page?

Clarence! Help me, Clarence! Get me back! Get me back!

Pottersville