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When it comes to New York City real estate, the billionaires are on a buying spree.
Sales of multimillion dollar residential properties are up 120% so far this year, according to CityRealty.
While median home prices for the U.S. overall are pretty much back to where they were 10 years ago, Manhattan's luxury home prices have more than doubled, according to Jonathan Miller, president of Miller Samuel, a real estate appraisal firm in New York.
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