Paul, I don't know much about east coast real estate, but the prices in California are sky high. The premium properties on the beach in Santa Monica and Malibu range from about 3 mill to 20 mill and are going for about 4-5 times what they sold for in the 80's. Our home has gone from about 100 K in 1988 to over 500 K today.
As for players, there is always a demand for premium players, but the question is "how much money"? Will it be $20 mill for the top guys, or might it be around 10-12 mill. Vlad was the top guy available this year and he did not get Manny or A-Rod money.