Shadows creeping over booming cities
Tensions between light and growth are rising as new skyscrapers emerge in US cities, casting shadows on their neighbourhoods.
New York
RISING over Midtown is "Billionaires' Row", a collection of glassy new pinnacles that promise the kind of condo views you can get in Manhattan only by building taller than everything else around.
With its US$95 million penthouse, 432 Park Ave tops out just shy of 427 metres. It will remain the tallest residential building in the hemisphere until the Nordstrom Tower - high-end shopping below, luxury living above - goes up four blocks away. Between them are a few more audacious developments, all part of a race for ever-taller towers to distinguish luxury living in an increasingly crowded city.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
HDB resale prices up 1.8% in Q1; 6,800 BTO flats to be launched in June
Singapore’s private home prices up 1.4% in Q1, rents drop by 1.9%: URA
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Singapore office rents in central region fall 1.7 per cent in Q1 over Q4: URA
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year