Is that true?

Remember that scene in "The Cosby Show" when Cliff is fussing at Theo about his grades? When Theo says that he just wants to be "a regular guy, drive a bus or something"? Cliff tells Theo that he needs to work hard to afford the lifestyle he wants when he's older. He says, "An apartment in Manhattan is going to cost you at least $400 a month."

Ummm. Really? Is that true? $400? a month? I thought that show was set in the 1980s, not the 1880s. Interesting.