From the May issue: In a city where cramped studio apartments generate six-figure bidding wars, it’s hard to imagine a place where real estate is even pricier. But there are cities out there that can make Park Avenue look like a bargain. According to data from London-based brokerage Knight Frank, $1 million would buy you only about half a studio in Monaco.

This month, The Real Deal took stock of how New York real estate compares to other major international and U.S. cities, from London to Los Angeles. We chose 25 preeminent cities, in different geographic regions, that compete with New York for real estate buyers and tourist dollars, and pored through real estate data from each one.

Which city is struggling most to weather the worldwide financial meltdown? Which has the glitziest and most expensive stretch of retail stores on the planet? Which is stuck trying to unload the most empty office space? Where are the most expensive hotels in the world? And which urban mecca has the world’s most expensive coffee? The answers will undoubtedly surprise you. [more]