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Old December 3rd, 2014, 05:42 AM   #14521
Uaarkson
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Yesterday morning, my photo

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Old December 3rd, 2014, 05:44 AM   #14522
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What other skyscraper cities have that kind of architectural diversity? That's right! None of them. As of now, not even Chicago.
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Old December 3rd, 2014, 05:48 AM   #14523
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view from the Trade Center, 432 Park living up to the "skyscraper" epithet: https://www.flickr.com/photos/stryka...20477/sizes/h/
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Old December 3rd, 2014, 07:43 AM   #14524
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Quote:
Originally Posted by scrapesalot View Post
Actually, this article is just plain wrong. As more super high end buildings are built, it decreases price inflation on the existing housing stock. If you have 100,000 millionaires looking to move into New York City, and only 3,000 units, then the units are priced so only the richest (in this case, billionaires) can afford them. If you have 100,000 units for 100,000 millionaires, then the units are priced much more reasonably. Which, is what needs to happen. The issue is, you have tons of millionaires in New York City, who are living in middle range units and paying a premium due to the market demand. If NYC added more units, then the middle range units can be returned to the middle class, and the millionaires can buy their fancy brand new digs. Towers like 432 Park are generally built for billionaires, but the older residential towers that some of these billionaires will vacate can be purchased by millionaires, and the residences the millionaires vacate can be purchased by upper middle class and ... you get the idea. It the "hand me down" of housing in New York City. "New" is often viewed as the best (especially to new money) and is priced accordingly.

And, thats keeping this on the real estate skyscraper spectrum. There are economical arguments to be made, as well.

/rant

Well, theres more to these buildings than plain and simple house-prices.. it's also a handy little tax-dodge for the wealthiest people in the country...(again).
This is about One57, but they're all the same.

https://www.youtube.com/watch?v=HFrJ...C1tSM73A0ZjYjQ
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Old December 3rd, 2014, 08:20 AM   #14525
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Supertalls by Tim Drivas, on Flickr



A04_8363.jpg by Nao Okawa, on Flickr
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Old December 3rd, 2014, 02:00 PM   #14526
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Untitled by TheFatnick, on Flickr



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Old December 3rd, 2014, 02:26 PM   #14527
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Quote:
Originally Posted by Vertical_Gotham View Post
A-mazing!! What a hell of a town Gotham is.
Indeed! What a town Gotham is....



Gateway to Gotham with a bonus skyline shot:



You can even catch a bus there!

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Old December 3rd, 2014, 07:34 PM   #14528
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Quote:
Originally Posted by SMCYB View Post
I love skyscrapers. With that said, here's a Bill Moyers piece about the buildings going up on Billionaires' Row. http://billmoyers.com/episode/full-s...#disqus_thread (p.s. - I'm posting this on the threads of the Billionaires' Row buildings because it makes perfect sense to do that.)
Without inequality, there would be few if any skyscrapers at all. I take a look at how inequality allows for skyscrapers like this to exist also why in the aggregate inequality is good for everyone when considering the consequences of forced equality.

http://opmaex.wordpress.com/2014/12/...ut-inequality/

P.S if you want to disagree or debate that's fine, just don't do it here because it would be off topic.
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Old December 3rd, 2014, 11:50 PM   #14529
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Look what I found on the internet. NYC in 2018. It's pretty awesome!!







click here to view the photos in original size
http://www.archdaily.com.br/br/75837...iorque-em-2018
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Old December 4th, 2014, 12:12 AM   #14530
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Originally Posted by Hudson11 View Post
view from the Trade Center, 432 Park living up to the "skyscraper" epithet: https://www.flickr.com/photos/stryka...20477/sizes/h/
This is what I have in mind when I visualize the word skyscrapercity.
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Old December 4th, 2014, 02:44 AM   #14531
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Originally Posted by Celt67 View Post
Well, theres more to these buildings than plain and simple house-prices.. it's also a handy little tax-dodge for the wealthiest people in the country...(again).
This is about One57, but they're all the same.

https://www.youtube.com/watch?v=HFrJ...C1tSM73A0ZjYjQ
Well, this is just disgusting. But, remember who is really at fault--the elected officials who permit this to happen.

Sad reality is, most of this new construction we drool over would not happen without ... creative financing.
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Old December 4th, 2014, 05:53 AM   #14532
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Originally Posted by scrapesalot View Post
Well, this is just disgusting. But, remember who is really at fault--the elected officials who permit this to happen.

Sad reality is, most of this new construction we drool over would not happen without ... creative financing.
None of this is true. There is no "tax dodge" in these towers. NYC has some of the highest property taxes and transfer taxes in the world, and U.S. requires taxation of all money earned or capital gains in the U.S.

And wrong about construction financing. These buildings all have conventional financing, from banks and syndicates.

These buildings are being built because of raw demand.
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Old December 4th, 2014, 06:04 AM   #14533
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Earlier this evening...

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Old December 4th, 2014, 01:42 PM   #14534
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Old December 4th, 2014, 03:32 PM   #14535
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Quote:
Originally Posted by S.T.Y AP View Post
Look what I found on the internet. NYC in 2018. It's pretty awesome!!
Has been posted a month ago (here and in other threads).
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Old December 4th, 2014, 04:39 PM   #14536
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Quote:
Originally Posted by Oasis-Bangkok View Post


Untitled by TheFatnick, on Flickr



Untitled by TheFatnick, on Flickr
Nice! The du-rag is finally coming down.
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Old December 4th, 2014, 09:24 PM   #14537
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looks great
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Old December 5th, 2014, 03:22 AM   #14538
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None of this is true. There is no "tax dodge" in these towers. NYC has some of the highest property taxes and transfer taxes in the world, and U.S. requires taxation of all money earned or capital gains in the U.S.

And wrong about construction financing. These buildings all have conventional financing, from banks and syndicates.

These buildings are being built because of raw demand.
So a $400 million construction loan that is coming from a children foundation charity group is conventional financing? Puhhhleeeaze.

http://online.wsj.com/articles/SB100...88760846981682

"Real-estate observers said foundations rarely make new construction loans, considered among the riskiest property debt. For 432 Park, the foundation's risk was reduced in part because CIM has provided or raised about two-thirds of the $1.25 billion price tag in equity. The firm typically has relied more on equity than debt in its property investments. Mr. Shemesh declined to describe specifics of the debt but said it was a nonrecourse loan, meaning the lender can't go after other CIM assets in the event of a default. He added that he expects 432 Park to be completed by the end of 2015, "and we have more than twice that amount of time to pay back the loan."
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Old December 5th, 2014, 04:39 AM   #14539
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This morning, some sun! The parapet is practically invisible without windows.



For the record folks, I am officially not sick of working in the Empire State Building.
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Old December 5th, 2014, 06:21 AM   #14540
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So a $400 million construction loan that is coming from a children foundation charity group is conventional financing? Puhhhleeeaze.
Yes, it is conventional financing. Your ignorance is showing.

And it's funny you bring up 432 Park as an example, since 432 Park isn't even leveraged, at all. Most of the construction costs are being paid by the developer, with lenders providing a small portion of construction costs.

There are probably few market-rate towers on earth that are as underleveraged as 432 Park. And they've already sold far more in units than in total costs, so if they gave every remaining unit away for free, they would still be making a fantastic profit.

Macklowe/CIM are so successful with this tower, that they have cash to pretty much buy what they want. That's why they're co-developing the Helmsley CPS site, that's why they're developing the Broadway/Wall site, that's why they've been rumored in all kinds of other superluxury condo deals. 432 Park is probably one of the most successful residential buildings, anywhere, ever.
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