The new skyscraper that will rise in Milan
New York and the creaking skyscraper: millionaires fleeing the Big Apple
The condominiums of the “billionaires tower” they are on the run, they have set up their apartments on sale at prices reduced by up to thirty percent. The 432 Parkon 57 street, a short walk from Central Park, is in crisis: super tenants talk about structural problems, skyscraper that creaks sinisterly, problems with the elevators and various services. As the Wall Street Journal writes, the flight has begun.
Three years ago the lawsuit initiated by the condominium owners claimed that 125 apartments, including penthouses, represented one of the worst examples of wrongdoing committed in New York in the history of luxury real estate. Illegal acts accompanied by structural problems related to design. The billionaire Thomas Peterfly sold his 84th floor apartment for $13.5 million37 percent less than what he had paid in 2016, i.e. 21.3 million.
A penthouse from 169 million was sold for 105 million. Of eighteen real estate units, fourteen recorded a vertical price cut. The decline is around 13 percent, but it also reaches more than 30 percent in a city where house prices have increased by 11.3 percent. If anyone is interested, he can search the internet for information. Prices, let’s say, are falling but not exactly accessible.
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