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Manhattan apt. bonanza

The housing bubble may have burst around the United States — but not in Manhattan.

The median price for all condos and co-ops sold in the borough rose a stunning 89 percent — from $450,000 to $850,000 — from a decade ago, a new study shows.

The average price for a single square foot was a mere $617 back in 2002. Now it’s $1,087, the Prudential Douglas Elliman report found.

The numbers provide evidence that Manhattan real estate remains a solid investment.

“You can’t look at real estate the same way that you look at a stock,” said Dottie Herman, president and CEO of Prudential Douglas Elliman.

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Housing Notes by Jonathan Miller

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