I've lived in manhattan for more than 10yrs and was born, raised, and went to college in NJ. clearly you havent ventured far off the GWB. i love nyc, and i love NJ. saying the 'swamp state' is just stupid. did you know the dept of health estimated there are anywhere from 1 to 8 rats per person in nyc? you manage buidlings, huh? hells kitchen? breeding ground. (sorry, it's "clinton" now) AND - taxes are not negotiable and have to be paid forever everywhere in the united states!! ever heard that 'death and taxes' line?

but back to the argument. 600k in nyc less expensive than 400k in nj? how about the additional 2.907% to 3.648% NYC income tax that we have to pay as of 2006 (on TOP of state and federal)? how about the 3rd highest cost of living in the WORLD? how about when you buy a condo in nyc, you must pay a mortgage recording tax, aka tax stamps (1.8% of value of apt) and it's due up front at closing (600k x 1.8% = $10,800) if you hit 1mm purchase price, add on another 1% for the mansion tax. its also the law that you must hire an attorney to close ($1,500 - $3000). as previously mentioned, the yearly taxes are low. i agree. BUT also as mentioned every condo or co-op you buy in manhattan will have maintence fees. for a 600k place, figure about another $600-$1200 per month, depending on building, neighborhood, etc. another cool feature of nyc real estate is that when you SELL your 600k apartment, you'll pay a 6% broker commission, and a 1.4% nyc transfer tax.

but, you're in real estate...you probably already knew all that.