Good morning, and welcome to New York Minute, a new roundup of the New York City news you need to know about today. Send stories you think should be included to email@example.com.
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!
And in other news…
- Why biking over the Hudson River bridges isn’t easier.
- There are more than 100 subway stations that have entrances that are closed or blocked off, and transit advocates want to change that.
- Two city jails—the Brooklyn Detention Complex in Boerum Hill, and the Eric M. Taylor Center on Rikers Island—will close early next year as part of the de Blasio administration’s larger Rikers shutdown plan.
- The Market Line, the new food hall within the Essex Crossing megaproject, opens today, and our pals at Eater NY have everything you need to know about the project.
- The landlord of Brooklyn’s Atlantic Plaza Towers apartment complex changed his tune on installing facial recognition software in those buildings.
- It’s one of the busiest travel times of the year and gridlock season; plan accordingly.
- The city’s Department of Buildings is ramping up its surprise inspections at construction sites, with positive results: injuries are down by 26 percent from the same period last year.
- How a 19th-century Brooklyn building—one that’s located on one of the borough’s busiest thoroughfares—is being restored.