"Manhattan is up quarter-over-quarter," said Daniel Baum, chief operating officer of the Real Estate Group of New York, a residential brokerage firm. "Prices are up, there are still plenty of buyers and less inventory compared to the rest of the country."
"The main point of why Manhattan has been spared is that it has a draw that no other place in this country has," Baum said. "Not only from here but from around the world. Manhattan is one of the only places in the world where people from all over the world want to live.
New York City 2010
