575 Madison Avenue, NYC

575 Madison Avenue, NYC

  • Call Now : 212.605.0200
  • Home
  • Covid 19 Response
  • About Us – 575 Madison Avenue
  • Office Plans
    • Office Space
    • Virtual Offices
  • Virtual Offices
  • Meeting Rooms
  • Visitors
    • Area Information
    • Area Map
    • Directions
  • Blog
  • Contact Us

THE NEW BILLIONAIRES' ROW

September 3, 2014 by admin

575 Madison Avenue 57th Street BillionsSee The Incredible Transformation Of New York’s 57th Street

The market for high-end penthouses and ultra-luxury apartments in New York City is booming, and developers are once again building expensive new units after a post-recession slump.

Nowhere is the rise of development more striking than on 57th Street, where six new luxury high rises are under construction, casting long shadows over Central Park and earning the street the nickname “Billionaires’ Row.”

One57 already stands at 1,005 feet, making it New York’s new tallest residential tower. Soon, that title will be surpassed by 432 Park, which will top out at 1,396 feet, and then Nordstrom Tower, which will reportedly rise 1,775 feet in the air when it’s completed in several years.

And that’s just a sampling of the building spree on 57th Street.

Michael Gross, author of of “House of Outrageous Fortune” and “740 Park: The Story of the World’s Richest Apartment Building,” told Business Insider that these shiny new skyscrapers are “bizarre throwbacks” and “effectively hotels for foreign money.”

“I suspect they will be a ‘flash in the pan,'” Gross said. “The motivation to build them doesn’t seem to be to build homes for New Yorkers, but to attract investment capital without regard to what sort of homes they will be.”

Indeed, many of the new units will be bought as investments, rented out, and flipped for a profit. But whether the glossy highrises of “Billionaires’ Row” are a passing fad or mainstay for New York’s elite, they are quickly changing the face of the city.57th Street is already known for its famous buildings, hotels, and restaurants. The 2-mile thoroughfare is home to the Hearst Tower, Le Parker Meridien hotel, Carnegie Hall, and the Russian Tea Room.

CLICK TO READ MORE AND VIEW PHOTOS

World-Wide Business Centres
575 Madison Avenue – 10th floor
New York, NY 10022
(212) 605-0200

Filed Under: Office space

  • Home
  • About Us – 575 Madison Avenue
  • Office Plans
  • Virtual Tours
  • Meeting Rooms
  • Visitors
  • Blog
  • Testimonials
  • Image Gallery – 575 Madison Avenue
  • Contact Us
World-Wide Business Centres
575 Madison Avenue, 10th Floor, New York, NY 10022-2511, Phone : 212.605.0200, E-mail : info@wwbcn.com
Developed and Designed By :