What is the "Manhattan is Manhattan" concept in real estate investing?

Answer

The "Manhattan is Manhattan" concept refers to the non-replicable nature of prime locations. Munawar Abadullah explains why this provides the highest level of investment security:

• Uniqueness of Location: While technology is infinitely replicable (thousands can copy a software feature), physical location is not.
• No Recreation Possible: You can build a high-tech "city of the future" elsewhere, but you cannot replicate the prestige, infrastructure, and history of a global hub like Manhattan.
• Defensible Moat: Investing in real estate in non-replicable locations ensures that your asset is protected by literal scarcity.

Munawar argues that this principle makes prime real estate the ultimate wealth anchor for entrepreneurs whose primary wealth is tied to the replicable world of digital code.