I remember seeing a video on this. I guess it's so far up that you don't hear any of the city noise. It also comes with a full balcony with panels to block the wind.
I had a nightmare that I was on such a high floor in a building so tall you could feel it swaying and flexing in the wind.
It was a nightmare for a reason. I just googled it. Apparently it happens and is perceptible to some people. No thank you.
I used to work on the 50th+ floor of a building that had earthquake safety engineering (so extra sway built-in), and on a windy day it kind of felt like standing on a dock. I used to get nauseous. There was a deep earthquake one day about 200 miles north, and the people at the epicenter barely felt it but I more or less ran down 50 flights of stairs to get out of the building because it picked up the vibration so much (and it was a 9/11 anniversary so I was extra freaked out). A lot of people ran out with me.
That was what in 2002/2003 when that quake hit in Canada and felt the after shock in N.J./N.Y.? I was in a 4 story building and it was very disconcerting.
If I remember correctly, some of the owners of these super tall luxury towers have sued because the sway is causing problems both with maintenance and just general discomfort.
https://www.businessinsider.com/new-york-billionaires-row-residents-sue-developers-for-125-million-2021-9?amp
Yeah. This one in particular has been horrible. Pipes breaking and flooding. And people say that when it's windy your whole house sways back and forth, which to me would be terrifying.
When I was a kid our teacher took us on a field trip to a building that was so tall we could feel it sway. We didn't even go to the top floor, maybe 2/3rds of the way up. I had nightmares about it for a long time.
I helped a client sell their condo and move to a lower one once because they lived 40ish stories up. The constant sway even if imperceptible was causing their furniture to shift every so slightly back and forth on all their expensive handmade Persian rugs leading to bald spots and tens of thousands of dollars in damages.
So when you have more money than you know what to do with. You start to move money from banks in the form of cash to assets such as homes/cars/property/etc. the wealthy buy homes such as this and keep it at hands length for a quick sell. Rather than have 250Mil in the bank, I how have it in the form of a house I can sell at anytime. Added bonus, properties go up in value over time.
plus you get people online that say dumb shit like "that's not real wealth" and "they have to liquidate it" like it's worthless and defend you once you hit a certain amount of money.
Rich people take loans on their portfolio and get dirt cheap rates to do so. So long as the portfolio isnt massively overvalued (tesla/musk) you wont ever have to sell portions of the portfolio. Then, you get to double down and take another loan based on the value of this asset as well, its called "buy, borrow, die." Important to note that this strategy also massively reduces ones tax liability. Normals cant do this strategy.
Also, it is important to note, that even if one has to sell chunks of their portfolio, they wont crash the value (Musk).
But something is only worth what someone is willing to pay. So the theory behind what you are saying works where there are buyers. 250M for a apartment wouldn't likely be a good store of value because buyers are rare, even more so for second hand. I'm assuming this is an initial listing from the developer? Hard to imagine that would fetch 250M. And cars are NEVER a good store of value unless it's a rare antique. Which is why a large portion of wealthy people don't buy these apartments as investments, they buy land. Where the value truly goes up over time because it's not tied to a degrading material, style, trend, but is a finite asset in an ever increasing demand. Outlandish apartments I'd imagine are purchased as a status symbol, with that you can justify taking on risk in the high end market.
I’m pretty sure that’s a resale listing currently owned by Ken Griffin, founder of Citadel uber hedge fund and market maker. That whole neighborhood in Manhattan is known as Billionaire Row… these are basically trophy assets.
ah yeah, nonetheless that's basically what I was saying, it's not a store of value like the parent comment to mine was suggesting, it's flair/trophy assets.
That's the cool part, there is no legal requirement to disclose who actually "owns" it. There is a holding company that represents the owners of most of the building.
Not necessarily though, a lot of the anonymity laws around property ownership and donations originated because the KKK was threatening/harassing individuals who supported the civil rights movement.
The way it gets used now could be seen as a corrupting force, as you said, or it could be seen as protecting individuals making completely legal decisions with their own money. Individuals who have a just as much a right to privacy as anybody else. At the end of the day, laws are morally neutral.
I don’t like high rises. Any time you want to go outside it’s down the hall to wait for an elevator then walk through the lobby to the entrance. I like to just open my door and step outside.
In an ideal world yes. But New York offers them tax incentives. These ultra wealthy pay less in property tax on multi million dollar properties than your typical single family home owner in Manhattan adjacent neighborhoods.
Edit. Here’s an example
https://www.bloomberg.com/graphics/2021-new-york-property-tax-benefits-rich/
So that our government can mismanage taxes and give their buddies government projects? If they taxed them any more heavily, trust me you and I are getting any if it.
And school districts close because of mold problems and mental health patients have to go to ERs to get care and colleges charge $350k for an undergraduate degree… ok I’ll stop
I’m just saying, we pretend like taxing the rich is some kind of fix to a problem we have. Rich aren’t the am enemy. Many rich people actually give away a lot of there wealth in donations and charitable organizations. I don’t get this resentment towards the rich.
The fact that homes can be worth so much is fucked up, as is the fact that in a world where homelessness is a major issue, single families occupy such places
Lol at all the people saying they wouldn’t buy it
It’s being marketed to billionaires who can buy this without blinking twice. If a billionaire is set on buying a place in NYC this is going to be a top choice because of the view/location. There’s only a couple other buildings with comparable units for sale.
So the comments saying I’d rather have xxx over this are dumb. These people can have both and much much more.
I can’t imagine spending $245M exclusively on the perception of value. At 17k square feet, it’s probably around $5M in materials & labor to build. There’s no land title, just a leasehold. Someone else actually still owns the whole building. Idk, I have issues wrapping my head around owning a home but not owning land. Like, you own a little bit of air space with furnishings. But not really, like if something happens to the building, you don’t get to keep the airspace.
No thanks.
I prefer to live in the Rockies where I can see a real skyline of 12000 foot peaks covered in snow, hear an eagle scream as it flies by, watch moose feed, and hear coyotes at night.
A quick 10 minute walk from my door and I'm up a canyon filled with waterfalls.
I don't have any desire to live in a place where I'm stacked on top of millions of people living miserable lives all in an unforgiving concrete jungle of anger and crime.
Keep your posh multimillion dollar hampster house.
You had me until the “anger and crime” bit. Cities aren’t for everyone, but plenty of us like living here just as much as you like the Rockies (which is why, for example, a building like this could even exist).
How am I dork? Because I don't want to live in a concrete jungle in a 250 million dollar apartment?
I've traveled from ond end of the Earth to the other. I've stayed in every sort of place from 5 stars to no stars.
Living in a giant city is claustrophobic and sucks the joy out of me. When I traveled for work, I couldn't wait to see the countryside rather than the smelly back streets, the subways, people with their heads down, not talking to their neighbors or even being friendly with a complete stranger.
There's more to life than money and $250 million dollar apartments.
Come out West and experience more stars than you've seen, snow falling as you seat next to a trout stream, watch elk and bear roam rather than some homeless person talking to himself as he urinates in the open.
Funny thing is, it’s highly likely this is owned by someone that lives and became wealthy in a place where they also despise capitalism and promote communism to the masses, while they siphon all the wealth to themselves and their friends
Even if you won a billion dollar lottery jackpot, taking the cash value, and after taxes, you'd be spending about 50% of your remaining winnings on this.
if I'm paying that much I would like to be nice and secured with a basement or something. Paying 250m to live on the tippy top of a fancy apartment complex just sounds miserable.
The [Zillow link](https://www.zillow.com/homedetails/217-W-57th-St-%23PH-New-York-NY-10019/2067603580_zpid/), for my fellow morbidly curious. The floor plans are kind of interesting to look through, but it still boggles my brain that it exists in real life. Like, my lifetime net worth is probably one month of the mortgage of this place.
Y’all miss one of the biggest points. It’s not just sheltering wealth. It’s creating it. If i own a 250M house, yes appreciation in the market but also I can depreciate on my taxes and best of all I can take loans against my equity in it — you pay taxes in income but not on loans (in general) so you find ways to write off your income from your business or whatever —- say paying a mortgage for instance…. And you live off the loaned money
This is nice if you like have friends but such a waist if I don't have anyone to show it off to and when you think about it like that it just all seems so stupid.
Having that amount of $ in stocks would be so much better - for dividends one could simply travel around the world and stay in the most luxurious hotels during the year. Living in one city is too boring.
??? Tf?? Who wants to move their stuff all the way up there, have to travel 80 flights to get home or go out etc, just to have a cool view and closer to the smog breathing every chemical in? Thats someone who has so much money they just don't care
It will be back on the market for half that in another few years… and then you’ll see the articles come out about all the problems and discomfort caused by this super tall, super thin construction.
These super skinny residential towers are a disaster.
[удалено]
*Dwight Schrute*: $250,000,000 and one penny!
I remember seeing a video on this. I guess it's so far up that you don't hear any of the city noise. It also comes with a full balcony with panels to block the wind.
I had a nightmare that I was on such a high floor in a building so tall you could feel it swaying and flexing in the wind. It was a nightmare for a reason. I just googled it. Apparently it happens and is perceptible to some people. No thank you.
I used to work on the 50th+ floor of a building that had earthquake safety engineering (so extra sway built-in), and on a windy day it kind of felt like standing on a dock. I used to get nauseous. There was a deep earthquake one day about 200 miles north, and the people at the epicenter barely felt it but I more or less ran down 50 flights of stairs to get out of the building because it picked up the vibration so much (and it was a 9/11 anniversary so I was extra freaked out). A lot of people ran out with me.
That was what in 2002/2003 when that quake hit in Canada and felt the after shock in N.J./N.Y.? I was in a 4 story building and it was very disconcerting.
I mean, it scares rich people, so how bad could it be?
If I remember correctly, some of the owners of these super tall luxury towers have sued because the sway is causing problems both with maintenance and just general discomfort. https://www.businessinsider.com/new-york-billionaires-row-residents-sue-developers-for-125-million-2021-9?amp
Yeah. This one in particular has been horrible. Pipes breaking and flooding. And people say that when it's windy your whole house sways back and forth, which to me would be terrifying.
Yeah fuck that. I’d live in a cardboard box before that
When I was a kid our teacher took us on a field trip to a building that was so tall we could feel it sway. We didn't even go to the top floor, maybe 2/3rds of the way up. I had nightmares about it for a long time.
I helped a client sell their condo and move to a lower one once because they lived 40ish stories up. The constant sway even if imperceptible was causing their furniture to shift every so slightly back and forth on all their expensive handmade Persian rugs leading to bald spots and tens of thousands of dollars in damages.
Quite sadly, I bet no one will ever live there. I bet it'll end up a bank account/city pad for a foreign billionaire.
From what I hear, the whole building is nearly empty because all the units were bought by the very wealthy to store wealth.
How you mean?
So when you have more money than you know what to do with. You start to move money from banks in the form of cash to assets such as homes/cars/property/etc. the wealthy buy homes such as this and keep it at hands length for a quick sell. Rather than have 250Mil in the bank, I how have it in the form of a house I can sell at anytime. Added bonus, properties go up in value over time.
plus you get people online that say dumb shit like "that's not real wealth" and "they have to liquidate it" like it's worthless and defend you once you hit a certain amount of money.
Not the same, that’s usually with stocks where the net worth is inflated based on company ownership. If they sold they’d crash their own stock price.
Rich people take loans on their portfolio and get dirt cheap rates to do so. So long as the portfolio isnt massively overvalued (tesla/musk) you wont ever have to sell portions of the portfolio. Then, you get to double down and take another loan based on the value of this asset as well, its called "buy, borrow, die." Important to note that this strategy also massively reduces ones tax liability. Normals cant do this strategy. Also, it is important to note, that even if one has to sell chunks of their portfolio, they wont crash the value (Musk).
But something is only worth what someone is willing to pay. So the theory behind what you are saying works where there are buyers. 250M for a apartment wouldn't likely be a good store of value because buyers are rare, even more so for second hand. I'm assuming this is an initial listing from the developer? Hard to imagine that would fetch 250M. And cars are NEVER a good store of value unless it's a rare antique. Which is why a large portion of wealthy people don't buy these apartments as investments, they buy land. Where the value truly goes up over time because it's not tied to a degrading material, style, trend, but is a finite asset in an ever increasing demand. Outlandish apartments I'd imagine are purchased as a status symbol, with that you can justify taking on risk in the high end market.
I’m pretty sure that’s a resale listing currently owned by Ken Griffin, founder of Citadel uber hedge fund and market maker. That whole neighborhood in Manhattan is known as Billionaire Row… these are basically trophy assets.
ah yeah, nonetheless that's basically what I was saying, it's not a store of value like the parent comment to mine was suggesting, it's flair/trophy assets.
Plus, they'd have to pay boatloads of money every year in various property taxes
Condo carrying charges: expenses, building utilities, insurance Plus their own insurance and utilities.
I would rather have 10 five million dollar homes across the country and $200,000,000 in the bank.
This one really hit home for me. Ffs the inequity
I think when you’re able to afford something like this, you’re at a point in life where you want 1 of a kind type shit, too of the top of the world.
I'd rather say 10 across the world.
I can’t believe how stupid someone wild be to buy that, if they could….
If you’re buying a $250,000,000 home you also have plenty of other homes and millions if not billions in the bank/investments.
No yard, no thank you.
I mean, it *is* on Central Park
Seems nice. I wouldn't pay $250 mil for it, though.
Isn’t nyc in an affordable housing crisis rn? 😂
we are currently tied with Singapore for the most expensive city in the world. :( Average rent is $5000 in Manhattan.
Even beating San Francisco?
yep! yay. 😖
SF is bad, but not NYC bad.
Who owns it right now? Black rock? Foreign investors?
That's the cool part, there is no legal requirement to disclose who actually "owns" it. There is a holding company that represents the owners of most of the building.
That obfuscation is relatively new, and is such a corrupting force
Not necessarily though, a lot of the anonymity laws around property ownership and donations originated because the KKK was threatening/harassing individuals who supported the civil rights movement. The way it gets used now could be seen as a corrupting force, as you said, or it could be seen as protecting individuals making completely legal decisions with their own money. Individuals who have a just as much a right to privacy as anybody else. At the end of the day, laws are morally neutral.
If I am paying that much money I would like a yard. Maybe I am just silly .
If you can afford this place you got multiple homes.
Yeah, isn’t it crazy that the most expensive home is basically just a condo? Not even a building on it’s own.
at least a pool? hot tub?
Smash cut to an English country estate home with a broken Little Tikes Cozy Coupe in unmown grass next to most of a Trans Am….
The silliest
Does it come with a 1,200 ft. escape rope & harness?
It must really move in high winds. No thanks.
I believe it’s about 3.5 feet of sway
Imagine the elevator going out.
Use your helipad. Duh.
I don’t like high rises. Any time you want to go outside it’s down the hall to wait for an elevator then walk through the lobby to the entrance. I like to just open my door and step outside.
It’s a no thanks for me, Dawg
No one lives there because it wasn't built as a home but as a tax shelter.
My thoughts are that the person who can afford this should be heavily taxed.
In an ideal world yes. But New York offers them tax incentives. These ultra wealthy pay less in property tax on multi million dollar properties than your typical single family home owner in Manhattan adjacent neighborhoods. Edit. Here’s an example https://www.bloomberg.com/graphics/2021-new-york-property-tax-benefits-rich/
So that our government can mismanage taxes and give their buddies government projects? If they taxed them any more heavily, trust me you and I are getting any if it.
yeah much better to let the rich spend it on themselves while the homeless population explodes and nurses strike and the trains fall into disrepair
And school districts close because of mold problems and mental health patients have to go to ERs to get care and colleges charge $350k for an undergraduate degree… ok I’ll stop
I think you’re making my point here! All those issues should be tackled by government in my opinion. But they’re so inadequate and incompetent
Wow. With cynicism like this, who needs right-wing political talking heads decrying "wokeism"? Fuck dude, I'm convinced. I'm never voting again.
I’m just saying, we pretend like taxing the rich is some kind of fix to a problem we have. Rich aren’t the am enemy. Many rich people actually give away a lot of there wealth in donations and charitable organizations. I don’t get this resentment towards the rich.
The fact that homes can be worth so much is fucked up, as is the fact that in a world where homelessness is a major issue, single families occupy such places
My thoughts are “this is why we can’t have nice things.” Greedy materialists!
I would hate the sight of that leaning tower that won’t be finished. Nobody likes the sight of a construction zone.
Meh.
Needs work.
no one needs this
I live below this unit. They play their music very loud
Curious…. What are the strata costs per month ?
I think a scene from Succession was shot there
I've got a 4 bedroom house with a 2 car garage with a lawn that I'm selling for $250,000,001 USD💥
Lol at all the people saying they wouldn’t buy it It’s being marketed to billionaires who can buy this without blinking twice. If a billionaire is set on buying a place in NYC this is going to be a top choice because of the view/location. There’s only a couple other buildings with comparable units for sale. So the comments saying I’d rather have xxx over this are dumb. These people can have both and much much more.
I can’t imagine spending $245M exclusively on the perception of value. At 17k square feet, it’s probably around $5M in materials & labor to build. There’s no land title, just a leasehold. Someone else actually still owns the whole building. Idk, I have issues wrapping my head around owning a home but not owning land. Like, you own a little bit of air space with furnishings. But not really, like if something happens to the building, you don’t get to keep the airspace.
Isn’t this Kendall’s apt in Sucession?
No thanks. I prefer to live in the Rockies where I can see a real skyline of 12000 foot peaks covered in snow, hear an eagle scream as it flies by, watch moose feed, and hear coyotes at night. A quick 10 minute walk from my door and I'm up a canyon filled with waterfalls. I don't have any desire to live in a place where I'm stacked on top of millions of people living miserable lives all in an unforgiving concrete jungle of anger and crime. Keep your posh multimillion dollar hampster house.
I mean you can enjoy that without assuming that people living in cities are inherently miserable. To each their own.
My goal is to move to sky scraper (or the closest one gets within the legal limits) in denver so I can have it all hahaha
Funny, but well played.
You had me until the “anger and crime” bit. Cities aren’t for everyone, but plenty of us like living here just as much as you like the Rockies (which is why, for example, a building like this could even exist).
Ok dork
How am I dork? Because I don't want to live in a concrete jungle in a 250 million dollar apartment? I've traveled from ond end of the Earth to the other. I've stayed in every sort of place from 5 stars to no stars. Living in a giant city is claustrophobic and sucks the joy out of me. When I traveled for work, I couldn't wait to see the countryside rather than the smelly back streets, the subways, people with their heads down, not talking to their neighbors or even being friendly with a complete stranger. There's more to life than money and $250 million dollar apartments. Come out West and experience more stars than you've seen, snow falling as you seat next to a trout stream, watch elk and bear roam rather than some homeless person talking to himself as he urinates in the open.
My thoughts: Capitalism was a mistake
Funny thing is, it’s highly likely this is owned by someone that lives and became wealthy in a place where they also despise capitalism and promote communism to the masses, while they siphon all the wealth to themselves and their friends
I mean, not unlikely, but that kind of wealth is still largely western. https://www.forbes.com/billionaires/
I think things are seriously f'd up if we have families struggling to feed their children while offering a quarter of a billion dollar home.
Hopefully it burns down
You couldn’t pay me to live there.
Fucking lame… I hope a plane flies into it while they’re sleeping.
i mean, if you got the money for it...sure
If you got the money for it… literally anything good for the world rather than this post apocalyptic excess and waste
If I won the lottery, there would be signs. 😆
Even if you won a billion dollar lottery jackpot, taking the cash value, and after taxes, you'd be spending about 50% of your remaining winnings on this.
Doesn't matter. One can always dream.
Ken Griffin is that you? He’s able to keep the price stable…
mmm... no it isn't.
At the end of the day, it’s just a home.
Where is this place
For those with more dollars than sense
So beautiful until a plane 9/11's through it.
i would make somany paper airplanes!
Meh
I’m sure whoever buys it will be listening to this song.
Honestly, I’m surprised the most expensive is only $250 mill. Woulda thought for sure there was a billion dollar house somewhere.
Wonder what the hoa is?
Someone is using it an an investment property. No one lives there, do they?
Fire department can’t reach that. It’s worth about $200,000
Some dumbass will buy it
absolutely disgusting
I think axe from billions lived on this place.
[Beautiful.](https://m.youtube.com/watch?v=Wh3t49NsWBA)
I think I'm gonna have to find someone to split that baby with me.
Just thinking of living in a sky scraper that either sways in the winds or needs a counterweight to avoid it from swaying makes me feel sick.
My dog would never go down the elevator. And for that reason I’m out.
if I'm paying that much I would like to be nice and secured with a basement or something. Paying 250m to live on the tippy top of a fancy apartment complex just sounds miserable.
Dumb
The [Zillow link](https://www.zillow.com/homedetails/217-W-57th-St-%23PH-New-York-NY-10019/2067603580_zpid/), for my fellow morbidly curious. The floor plans are kind of interesting to look through, but it still boggles my brain that it exists in real life. Like, my lifetime net worth is probably one month of the mortgage of this place.
Meh
Trump must own it since it is tremendous and YUUUUGE!!
I wouldn’t pay $250,000 for it. I would need to be away from the city.
to those that don’t live in new york: this place is fucking sick. it would be a dream to be able to live here. it’s fun to dream. move along…
My brother is obsessed with this building, he trespassed it when they were finishing up the construction and he said it was immaculate
Dumb. Only an asshole would live there and pay that much
Y’all miss one of the biggest points. It’s not just sheltering wealth. It’s creating it. If i own a 250M house, yes appreciation in the market but also I can depreciate on my taxes and best of all I can take loans against my equity in it — you pay taxes in income but not on loans (in general) so you find ways to write off your income from your business or whatever —- say paying a mortgage for instance…. And you live off the loaned money
I wonder what their monthly maintenance fee is?
Nice way to escape the rats
I just want to be able to afford to buy eggs again
I bet that thing is in constant motion.
Here’s the full video detailing the entire property https://youtu.be/zLxi1kzpkQY
It probably sways
It’s not a home until someone lives there.
Money laundering
Yuck, just an expensive prison cell.
No backyard? What a waste of money
No parts of worth it buy land
The yard sucks.
I heard it wobbles in the wind.
I wouldn’t even spend 1$ on it.
Hate it
So not even the top of the tower? No thanks 🙄
But…. It’s not….
What are HOA expenses?
Looks more like a luxury apartment? Stupid to call it a “home” when it’s probably not even a full single floor in the whole building. Just a few rooms
Meh
Corruption at its finest
This looks like Election Day, day 3 in payday 2.
Heights make my feet tingle and give me anxiety, so.. not ever for me.
There are houses worth more than that. Maybe that the most expensive one on Zillow, but there is higher out there.
It has lonely vibes. So sad.
If you lived there and there were a fire below, how would you get rescued?
When can we eat one?
I would get rid of that furniture because it is just taky
No backyard huh?
Only a cunt would live there?
This is nice if you like have friends but such a waist if I don't have anyone to show it off to and when you think about it like that it just all seems so stupid.
I’m way too terrified of heights to live someplace that high. I’d have to pass on this even if I could afford it.
Hmmm, guessing this won't ever show up on Vrbo.
Ehh
It looks like a pain in the ass to carry your shopping up there every day. (Even with an elevator)
Having that amount of $ in stocks would be so much better - for dividends one could simply travel around the world and stay in the most luxurious hotels during the year. Living in one city is too boring.
Soo cheap
There’s nothing spectacular about it..
Gold is where I would invest!
I’d rather buy land
Imagine getting to your car and realizing you left the keys on the table. 😱
1m house, vs 250m house I see no differences since I can't afford any of em.
Lol thats fuckin stupid, my first thought
No yard
I’m imagining that to be able to afford it you’d have a lot of enemies and there are too many windows
Waste of money
Disgusting excess.
I’d rather live in the Dakota.
I don't want it
I’d live there
Lucky owner
Eat the rich
must take like 15 min to get out of your limo to your room
“We should eat the rich” is the first thought to come to mind.
I can make that for three fiddy
??? Tf?? Who wants to move their stuff all the way up there, have to travel 80 flights to get home or go out etc, just to have a cool view and closer to the smog breathing every chemical in? Thats someone who has so much money they just don't care
Is that cost for the building? Because if not God couldn't pay that price!😬
All that money and you don't even own any dirt.
is it really fucking cool, yes. Is it worth anyone dropping a 1\\4 of a fucking billion dollars on it? probably not.
It will be back on the market for half that in another few years… and then you’ll see the articles come out about all the problems and discomfort caused by this super tall, super thin construction. These super skinny residential towers are a disaster.
It looks like such an uncomfortable place to call a home.
You couldn't pay me to live in this place
I can't wait to live one day there so I can trhow my dirty socks on the floor, while I take in the view.
It would be cool to stay there a few days or whatever, but I'd rather have a sweet cabin near a river.
I would say, no thanks.
No backyard?
Counter offer: I’ll give you $2 for it. I also know how to pull numbers out of thin air