WSJ

The Most Expensive Real-Estate in the World

By Robert Frank

Associated Press Monaco

If you think real-estate in Manhattan or San Francisco is expensive, consider Monaco.

The price of real-estate in Monaco — the world’s most expensive locale — is now an average of $5,408 a square foot, according to a report from Citi Private Bank and Knight Frank, the London real-estate firm. Spending $1 million will get you a 200 square-foot closet – presumably without a water view.

The second most expensive locale is Cap Ferrat in the south of France, at more than $4,800 a square foot. That’s followed by London, at $4,534 a square foot, and then by Hong Kong, at $4,406 a square foot.

New York is a relative bargain, coming in at number 17, at more  than $2,161 a square foot (this seems to be a little  high, even for Manhattan). The only other U.S. locations on the top 50 are Aspen, at number 39, with $974 a square foot, followed by Telluride ($760 a square foot) and Miami, at about $580 a square foot.

Here is the list of the Top 10

LOCATION    AVG PRICE PSF

Monaco – $5,408

Cap Ferrat — $4,800

London — $4,534

Hong Kong (houses) — $4,406

Courcheval 1850 — $4,081

St. Moritz — $3,951

Gstaad — $3,701

St. Tropez — $3,600

Geneva  – $2,959

Hong Kong (apartments) — $2,625

LaGuardia Terminal Update Sought

By ANDREW GROSSMAN (WSJ)

[010612laguardia] Bloomberg NewsTravelers wait to check in at the Central Terminal at LaGuardia Airport in 2010. The Port Authority is planning to begin construction on a new terminal in 2014.

The Port Authority of New York and New Jersey is eyeing a 2014 start to construction of a replacement for the cramped, outdated Central Terminal Building at La Guardia Airport.

The authority is seeking proposals from private terminal operators, bankers and consultants to finance, design and build a replacement terminal, according to a request for information issued quietly last month.

NYLAGUARDIAmap

Plans are still tentative, and construction might not start by 2014. But the request for information is one of the most concrete steps yet toward replacing the terminal.

“I think the schedule is our best estimate to how the transaction or transactions could fall into place,” said Patrick Foye, the Port Authority’s executive director. “Obviously we’re going to be driven by the suggestions that come in from industry partners.”

The schedule calls for construction to be completed by the end of 2021 at a cost of about $3.6 billion.

Full Article Here: Via WSJ