NY tower gives prime space to emergency generators as insurance against floods
New York
THERE is a breathtaking view of the mid-Manhattan skyline from the 48th floor of the taller of two new copper-clad apartment towers just south of the United Nations.
No plutocrat will enjoy it, however. This impressive penthouse aerie is hogged by five emergency generators.
For the developers, giving up premium space to machinery is insurance against an ominous future: They want tenants in the towers' 760 apartments to be able to live in their apartments for at least a week, no matter how high floodwaters may reach nor how lon…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US existing home sales drop in March; median price increases
German home building permits tumble 18% in February, extending rout
China national who had Singaporeans front plan to buy East Coast houses pleads guilty
Freddie Mac seeks regulatory approval to back home-equity loans
China national fined S$45,000 for having Singaporeans front plan to buy East Coast houses
Condo rents inch up after 7-month decline; volumes recover: SRX, 99.co