432 Park Avenue , a supertall building that will be almost entirelyinhabited by billionaires , will soon open up in Manhattan . Its door , however , will not actually open onto Park Avenue . harmonise to Bloomberg , the building ’s developers in all probability paid the city a little - known $ 11,000 fee for a vanity address , which is exactly the sort of slow affair billionaires care about .
Most of us pattern have no real cause to impose 432 Park Avenue , so like whatever , but the exercise is annoyingly common . Bloomberg notesthat confusing computer address like One Bryant Park , 200 West St. , and passably much any address in Times Square are vanity ones . The Manhattan Borough President ’s office grants vanity addresses on a type by case ground for developers looking for a prestigiousness cost increase . It ’s granted five this class and six in 2013 .
In the case of 432 Park Avenue , one corner of its lot does meet Park Avenue , but its main incoming is likely to be 150 feet away on 56th Street . However , the cachet of a Park Avenue address add together 5 to 10 pct on the economic value of the its apartments , the cheesy of which is a hefty $ 16.5 million .
The metropolis ’s processing fee , on the other hand , is just $ 11,000 . If New York City is going to supply to the whims of the rich , it could at least get a little more out of it in return . [ Bloomberg ]
Top image : creative person rendering of the supertall 432 Park Avenue , which will be the tallest flat construction in America . Credit : dbox / CIM Group and Macklowe Properties
CitiesNew York City
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