12 billionaires could buy all of Manhattan if they wanted

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

New York /
Nov.November 01, 2016 08:00 AM

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.

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!

 

Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
The change was driven by record rent drops and an increase in available apartments. (iStock)
Falling rents double city’s supply of voucher-accessible apartments
Falling rents double city’s supply of voucher-accessible apartments
From left: Homes in Jackson Hole, Wyoming; Park City, Utah; and Aspen, Colorado (Getty images)
Mountain high: Homebuyers flock to and reshape ski resort towns
Mountain high: Homebuyers flock to and reshape ski resort towns
Igor Tulchinsky and 220 Central Park South. (Getty, Robert A.M. Stern Architects)
First resale at 220 Central Park South closes at 23% premium for seller
First resale at 220 Central Park South closes at 23% premium for seller
The report of the death of cities was an exaggeration, an analysis of 30 million change-of-address forms shows. (iStock)
Exaggerated exodus: Covid didn’t scramble people’s migration patterns
Exaggerated exodus: Covid didn’t scramble people’s migration patterns
Trophy trees are the latest must-have for high-net-worth individuals decorating their mansions. (iStock)
Thought your mansion had it all? Don’t forget the trophy tree
Thought your mansion had it all? Don’t forget the trophy tree
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...