Quote:
Originally Posted by iheartthed
I'm not a fan either. I think they're ugly and look very out of place. But market reality will put a stop to that nonsense after the current crop under construction finishes being built.
|
If there's a recession, there will be a temporary pause, but "market reality" says that Billionaires Row is the most expensive stretch of urban real estate on the planet, and that isn't likely to change, so this is likely the very beginning of the superskinny trend, at least along that corridor.
There are roughly a dozen assemblages in the corridor held by major developers. Durst, Solow, Barnett, Vornado, Macklowe, Related (basically the first rank of Manhattan developers) all have assemblages. They aren't spending upwards of a billion on painstakingly complex, decade-long land assemblages for the hell of it.