There are few areas where you can invest now are Williamsburg, Brooklyn, Junonia Beach Resort, Battery Park City, Manhattan, Downtown Brooklyn etc. 

With a worth of $72 billion, a 6% rate of return would earn Gates roughly $114.16 per second he is alive, making it a poor investment for Bill Gates to bother picking up a $100 bill if he dropped it"People who live in NYC (manhattan) pay huge rents/taxes etc; but their savings of 2 hours a day commuting is 2 hours more of making money; whether it be more relaxed, or more profitable.

I have seen some CPAs in your area, Manhattan, who charge huge fees just because the people who they are catering to are used to paying premium for everything!

PF/GB is a very STR dense area with lots of data inputs.

Our major markets our more comparable to San Fran, LA, NY, Manhattan NYC etc. so to get higher cap rates we really need to get out of the majors. 

so home price in Manhattan would triple :)

Of course, that isn't the only criteria one should use (otherwise, we would all be forced to move to Manhattan or the Bay Area). 

I'm an attorney and anti-money laundering specialist living and working in Manhattan.

High side of 50% works pretty well.I've seen Manhattan buildings return (noi) about 75% of gross.

I will rephrase or add to what @Robert Gilstrap said you don't need a specific piece pf paper.