New York's tallest residential building, 432 Park Avenue, has a secret: its entrance is not on Park Avenue. But Park Avenue is a lot sexier than 56th Street, so Macklowe Properties did what any billionaire-seeking developer would do and bought a vanity address. The city allows them if a developer can provide "cogent rationale"and drop $11,000, which is a complete bargain compared to the cost of everything else involved with building a supertall luxury tower. [Bloomberg; previously]
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