ST Alpha - "Jeez, that would be prime real estate. I guess like 50-100 billion. -- nm" (Reading a Post)

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In response to "I looked this up last week: According to a figure posted in New York magazine in 2010, what is the land value of the 843 acres of Central Park? -- nm" by prayformojo

Jeez, that would be prime real estate. I guess like 50-100 billion. -- nm

Posted by Krusty (aka Krustylu) Aug 27 '13, 10:56

(No message)

Responses:

I just realized my guess included potential values of the buildings so I'm probably crazy high. -- nm - David Aug 27, 10:57 17
- I think I'm low. It has to be more than a $100b but less than a trillion. -- nm - Krusty Aug 27, 10:58 11
  - You're sorta in the neighborhood (spoils) - prayformojo Aug 27, 11:00 10
    - I gotta say, that seems too high... over $600 million per acre?? -- nm - Don Homer Aug 27, 11:04 3
      - Either your math is way off or mine is. -- nm - David Aug 27, 11:16
      - Trump Tower is 58 floors and takes up much less than an acre it is valued at over $310M - I don't think the numbers are that far fetched -- nm - decline Aug 27, 11:15 1
        
        yeah, I wasn't factoring in highrises as much as I should have. I just guessed a flat rate of $55 million/acre. -- nm - Don Homer Aug 27, 11:19
    - Right. Without the park the value of every property around it drops significantly. Still expensive but not Rockefeller expensive anymore. -- nm - Krusty Aug 27, 11:02 2
      - you're assuming that that (all of) it would be developed -- nm - zork Aug 27, 11:07 1
        
        That's what we're talking about, I thought. -- nm - Krusty Aug 27, 11:08
    - If that land ever came available, the basic traffic patterns of NYC would be rewritten on the fly. -- nm - David Aug 27, 11:01 2
      - The people of NYC would riot if they tried to touch one inch of that park. - Krusty Aug 27, 11:03 1
        
        But as to your point, the grid would fit it perfectly. It would be real easy to develop the area once you filled in the rivers and lakes. -- nm - Krusty Aug 27, 11:05
- not as far off as some of the people I asked last week so said along the lines of - prayformojo Aug 27, 10:57 4
  - Ha! $3m isn't getting you any acres in Manhattan. :-) -- nm - Krusty Aug 27, 10:59 2
    - some condos are more than that -- nm - zork Aug 27, 11:08 1
      - Yup. Change some to a lot and you nailed it. -- nm - Krusty Aug 27, 11:10
  - with an "m"? wow -- nm - Beryllium Aug 27, 10:59

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