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Interesting. A $3m house is often valued at $300k so this is actually narrower than one would think. https://www.zillow.com/homedetails/62-Beach-St-APT-2F-New-Yo...

Wild that there are so many rich people in NYC. Truly an engine of wealth creation.

NYC surely does generate a lot of wealth, but a lot of vacant luxury NYC condos are just a place to park cash. No particular connection to the city.

Wealth cannot be created or destroyed, only distributed. /S