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    Senior Member JohnDoe2's Avatar
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    N.Y.C. These vacant eyesores are piggy banks for the global elite

    These vacant eyesores are piggy banks for the global elite

    By Steve Cuozzo
    March 10, 2018 | 10:35am | Updated

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    Who’s coming to the 92nd and 93rd floors of 432 Park Avenue, which boasts that it’s the “tallest residential building in the world?”
    An “anonymous Chinese buyer” recently purchased three combined penthouses for $91.1 million. The name will dribble out eventually — but the likelihood of “432 Park Joy LLC,” whoever he or she is, showing up for dinner is remote.


    Our beloved, global-icon Midtown Manhattan skyline has been hijacked by obscenely rich global drifters. Postcard-favorite commercial structures such as the Empire State and Chrysler buildings, 30 Rock, Citigroup and newer One Bryant Park are humming cogs in the city’s economic machine, filled with working, striving, human beings. But they’re being upstaged by loftier condo monoliths inhabited by shadows.


    Make that shadow companies — like the one used to shield the identity of money-laundering Nigerian oil magnate/playboy Kolawole “Kola” Aluko, who secretly owned a foreclosed 79th floor penthouse at One57 on “Billionaires’ Row.”


    Shadows define the new generation of “residential” super-talls, but not in the way most people predicted. Fears that cloudbusters clustered along 57th Street would cast shade on Central Park had it backwards. Viewed from Central Park — from the Reservoir running track, for example — beanstalk “investment vehicles” cast a pall on Midtown.


    Some stand more than 1,000 feet tall. The under-construction “Central Park Tower” on West 57th Street, which aims to sell $4 billion worth of apartments, will rise taller than One World Trade Center minus its antenna. More are going up including 111 W. 57th St. and 53 W. 53rd St.


    But aren’t taller buildings and constant change what the city’s all about?


    I’m not upset over “income inequality” or that new structures stand higher than old ones. New York will always have its very poor and very rich. I loved the Empire State Building no less when the Twin Towers went up.


    But we should resent towers that are mainly designed to make their developers a killing on absentee foreign buyers — some who buy them merely to flip later for higher prices, others who take years designing “dream homes in the sky” but never move in. In one infuriating 2013 purchase, an unidentified Chinese woman grabbed a $6.5 million unit at One57 that won’t be used until her daughter enters college here. The daughter was two years old at the time of the purchase.

    We should resent towers that are mainly designed to make their developers a killing on absentee foreign buyers

    The upright piggy banks for sheikhs, rubber moguls and hedge-fund pirates define Midtown’s new visual profile — whether viewed from an airplane window or in an Instagram shot from across the river.


    Office buildings counter-intuitively belong to us all. They “manufacture” everything from TV shows to exotically packaged stocks and bonds. Their inhabitants earn money to spend on our stores, restaurants and kids’ educations. Taxes on their incomes pay for our vital services.


    But doormen can die of loneliness in the rising or recently opened apartment towers. How often would reclusive Mexican tequila mogul Juan Beckmann Vidal, who also owns pads at zillionaire-friendly Trump Tower and the Plaza Hotel, have been “home” on 432 Park Ave.’s 84th floor if he hadn’t pulled out of a $44.4 million deal over flood damage?


    Oligarch sanctuaries
    don’t even have to be super-tall to ruin the skyline for the rest of us. The cookie-cutter limestone stump of 520 Park Ave., a pygmy at 780 feet, was thrust like a weed between the Sherry-Netherland and Pierre hotels — Jazz Age landmarks that, when viewed from east or west, played off one another like meshing soloists. Now, 520 Park Ave. breaks into the duet like a drunk stagehand.


    “I’ll Take Manhattan,” Rodgers and Hart’s romantic 1929 tune, needs a new lyric: They Stole Manhattan.

    https://nypost.com/2018/03/10/super-...e-bad-for-nyc/

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    Senior Member JohnDoe2's Avatar
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