Does Manhattan real estate not appreciate anymore?

We're looking at a few locations around the country to retire. In almost every market prices have gone up 50% compared to pre-pandemic and they sell quickly. Except Manhattan. We're seeing many 1br co-ops, many of which are priced at, or below, their prices a decade ago. Do people just buy because they want to be in NY and accept that there won't be much, if any, appreciation? Have 1br Manhattan co-ops gone out of fashion as much as fur coats and harvest gold appliances? Although we've been away for many years, we both grew up in the city and lived there before so we're not total newbies.