Not many people can afford to live in Manhattan, yet the place is the hub of employment (and I wouldn't mind owning an apartment building there).Might be good news for the car industry and the public transportation authorities.Bob

The problem with CAP rate is its misuse - Vendors will advertise rose-coloured cap rates to promote the sale of their buildings {no two of them calculated the same}; folks try to use it as a universal ratio to compare assets in different markets {i.e. a CAP rate of 5% on a multi-unit in Manhattan may be good, but a similar building a the same CAP in Milwaukee would be overpriced}.  

I also am disgusted with the ~$50,000 I spent on rent money that I'll never see again after living in Manhattan for so long. 

My name is Craig Mitnick and I live in Manhattan, NY.

I grew up in Astoria Queens, a city outside of Manhattan that has seen a lot of spill over affect from Manhattan.  

@Noelle Bohlen I agree with Charmaine and Janusz...Queens is great, fairly decent prices prices to start, nice neighborhoods, people are moving from Brooklyn and Manhattan to Queens. 

My new job is in lower Manhattan area. 

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Let's get something in Malibu or Manhattan :) Ok, on the serious side, I like the BP REIT idea.

I want to focus on REI but I would like some extra income by getting my re license doing rentals in Manhattan.