What's the estimated land value of Central Park in New York?
$528,783,552,000
That prices out to about $627 million an acre, or 26% more than the entire 2006 U.S. defense budget, or 7 million times the price of Boardwalk and Park Place together. Considering that New York "paid more than $5 million for undeveloped land from 59th Street to 106th Street" between 1853 and 1856, that's pretty good appreciation. Real estate pundit Jonathan Miller writes "the net value of all of Manhattan would be less after Central Park was developed."
(This info was taken from yahoo. I thought it was pretty interesting.)
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