So with the Japanese investor, assuming would want to live anywhere in the world, it might make more sense to have a penthouse apartment in Manhattan over one in Tokyo, or to have a vacation home on US lakefront property over a villa in Italy. 

Also, The Design District is bringing in a lot of Manhattan money.

I currently work in Manhattan for a large European financial institution.

You should also consider joining us at the Meetup in Manhattan we're having on June 17.

Finally the CAP does not tell you anything about the quality of a cash-flow, just its cost relative to its peers.So if you had a 100-unit property in Manhattan with a CAP of 5% in might be delightful, but one in Toledo with a CAP of 5% probably is not .... furthermore, using CAP to compare these two properties is dangerously meaningless. 

I know that Manhattan and to a lesser extent the outer boroughs have very low cap rates compared to other locations in the US.

The ACCRA Cost of Living Index, an analysis by the Council for Community and Economic Research, found that Manhattan by far had the highest cost of living in the U.S., with a cost that’s more than twice the national average.

I used to have a stackable combo unit in Manhattan.  

Pleasure to meet everyone, my name is edwin and I was born in manhattan in nyc and now live in the bronx near westchester county and 1 hour away from connecticutI am just getting involved in real estate investing with my partner looking to learn and possibly get into this f/t just not quite sure what area will become my main area of investing My primary interest at this moment is learning the preforecloure market for nyc and connecticut area, wholesaling properties to investors initially to investorsI am in my 50's and need to find a way to create a retirement fund through possibly rental properties so this becomes part of my retirement monies coming in since I do not have anything at this moment lined up for retirement, can't afford to make to many more mistakes...

Four story building on the fourth floor in Queens, 5 minute walk from Subway, 20 minutes from Manhattan on subway, 10 minutes on high speed express LIRR.175K price.8.5K down from me.