Old Billionaires’ Row buyers are flocking to new Billionaires’ Row towers

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Billionaires bounce between Billionaires’ Row buildings

Since the term “Billionaires’ Row” was coined in 2013, approximately a half dozen pricey, exclusive buildings have sprung up along a small slice of Midtown stretching from Park Avenue to Columbus Circle. The buyers for the apartments within these towers are a rarefied bunch, and as new buildings—including supertalls like Central Park Tower and 111 West 57th Street, and ever-so-slightly more modest buildings like 220 Central Park South—have arrived on the scene, those high-rollers are swapping their older, very expensive homes for newer, very expensive homes.

According to the Wall Street Journal, developers of the newer buildings are “targeting buyers from the ‘it’ buildings of the last cycle”—ones like 15 Central Park West, which opened in 2007 and was once the preferred building for the city’s uber-wealthy buyers. Two of its former residents, hedge funder Daniel Och and rocker Sting, have since picked up apartments at 220 Central Park South.

“When you’re at that price point, it’s about owning in whatever building is considered the very best in Manhattan,” Jason Haber of Warburg Realty told the WSJ. “But we’re living in an era now where what’s considered the best building seems to change every quarter.” What a world!

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