Almost all of the value is the land.
RE: Cost of living, I dunno, part of the reason the cost of living in SF / Manhattan is so high is that lots and lots of people make enough to be able to afford it.
RE: Cost of living, I dunno, part of the reason the cost of living in SF / Manhattan is so high is that lots and lots of people make enough to be able to afford it.
I thought the cost of living in Manhattan or other similar places was so high because people do other things than live there that are highly valuable. Which might be nature's way of telling you "don't live there".