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New York

Apartment prices reached new highs in May

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Rising like Russell Crowe’s temper, the median price for all sales in Manhattan in May increased 23 percent over the same month last year. The median price for a condo or co-op in the most expensive borough was $750,000, according to a report by Halstead Property. The average price also hit a new high of $1,276,202 34 percent higher than the average price in May 2004. more [NYT]