They say you can never be too rich or too thin — real estate is no different. Increasingly skinny apartment towers are growing all over New York City, the Wall Street Journal reported.
While generally residential towers have been at least 10,000 square feet wide, these days architects are eschewing that convention, the paper said. For example, 432 Park Avenue, designed by Rafael Viñoly, is expected to have approximately 8,250-square-foot floors, while One57 has floors as small as 6,240 square feet. And, towering above Madison Square Park, is the Cetra/Ruddy-designed One Madison Park, with its tiny 3,300-square-foot floors.
But while thin towers afford a more exclusive feel, and many apartments with great views, the paper said, there are drawbacks to this new building style.
“It’s definitely not easy or cheap,” Michael Stern, managing partner of JDS Development Group, which is planning a 43-foot-wide tower down the block from One57, told the Journal. [WSJ] –Guelda Voien