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Deflating the $1 Million Apartment

Leave it to the goddamn Observer to puncture the New York real estate bubble. Gabriel Sherman takes a look at the oft-reported $1 million average sale price for Manhattan digs and comes to this impossible conclusion: "Most buyers in Manhattan are finding apartments for far less that $1 million." Apparently?you accountant-types can help us out here?the "median" sale price ($674,000) may be a better market gauge than the "average" sale price ($1.047 million). Not willing to be taken in by such unpatriotic pabulum, Curbed pledges to continue overhyping every data nugget that comes our way. You can thank us later.
· Is the $1 Million Apartment Sale an Urban Legend? [NYObserver]