The Dark Truth of New York’s Billionaires Row

Over the roof, overpriced, insane prices that's why. And until they come back down to earth, the gone stay empty. And I do love new York

"432 Park Street"? How about "Park AVENUE"

I think rich people haven't changed after 2008 crisis and decided to continue fraud and corruption circle that resulted in bigger economy scarcity. Not humble. (not talking about all rich people, but on average)

never accepting "responsability"

Because billionaire doesn't have big family or many children. they choose job/money over family and it is oblivious one man job for tower is too much.
I think we have two different type of man who enjoy taking care of their house and apartment to enrich culture and community and the other who only care about money and sell. 

that could lead into huge problems with finance because not many people who can afford this place. it is sad to see no one live there. I hope in the future they can fix the price properly and then let the family and worker move in and live there.

the building was inspired by a trash can tells you everything 😆😂

dude, fix your typos and also, get to the point. The video was half over before you started listing the problems.

Measure twice cut once

Well you know, we have all these migrants coming in non stop and they need shelter right?………..

Interesting

You see “M”. You feed these clowns

Isorz'; N the SKY!

FRAUD, &KORRUPTION; IZ the Latest, ofthe Display'z ; of Greedy, & Falible Human- Motivez;4 REALTY, PRICE- GAUGING'z/NATIONWIDE2.

it;s rigid for the rich

I'm not buying because of my neurotic fear of heights. These buildings are going to fall over...

Never been tempted to purchase an apartment there. Now I know why.

Lol good for them to live in a home that’s not as well built or constructed as well as the projects. God has a sense of humor.

It is not a good investment, so this was a plug more than it was read. You’re better off buying a mansion or building one.

Americans: living in small apartments
Also americans: see billionaires live in insane luxury not paying tax as they must
Also also americans: obsessed with race and preferences in bed
Me: americans are doomed!

Taxes are such a scam ☠️☠️☠️

Лол, у миллиардеров ровно те же проблемы, которые были у меня при покупке студии в Саларьево. Тоже инициативная группа хотела с застройщиком судиться из-за строительных дефектов.

It is insane how these devlopers refuse to acknowledge and do anything about those defects despite selling them to a group of the richest people in the world

432 Park Avenue looks like something designed by Gerhardt Fjuck (the character played by Alternatino).

How much to rent one?

I love the elite u must admit they r beyond smart and average thinking 🤔

Guys also remember this is a perfect place to launder money 💰

🤣🤣🤣🤣🤣🤣🤣 fuckem.

Another thing to keep in mind when looking at buying an apartment on billionaire row is that you never know if a much taller building will ever be put up blocking those billion dollar views of central park. But buying an apartment directly across the park is a guarantee the views are never going to disappear.

Personally I think the views from the smaller apartments directly across from central park are better than the highrise apartments on billionaire's row. You can make out the landmarks and details being closer. The higher up you go the smaller those details are. BTW you should do a video of all the B.S. that's involved in the actual purchase of an apartment in NYC.

Great video. Just your 1,5M figure is missing one zero.

This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.

So, I picked up on the negative carry involved with property taxes on homes held by REIT's and see some potential for shorting those without inventory turnover. I didn't realize how low the negative carry from taxes on Billionaire's Row apartments was until I watched this vid. I'm assuming there are still significant expenses on these apartments, like building maintenance & elevator repairs that can become a significant drain on those who "invest" in them.

I knew it. Full of problems.

thank God I came across in this video, I was about to buy one of these shitty penthouses!

The property tax issue is, indeed, infuriating, and should be rectified. Further, generally speaking, I harbor very little sympathy for what are routinely dismissed as "Rich people's problems." HOWEVER, when anyone purchases property, they should be able to expect conformity with safety standards, building codes and some common sense, especially if the property is new at the time of sale. In the alternative, when the property is not new, the buyers should have full disclosure of material defects and other known problems. That this could happen even to centimillionaires and billionaires should be worrisome to us average people who live in condos and other planned-unit developments. I suppose it's easy to say "oh well, they're super-rich and have plenty of money to fix the problems." However, that is besides the point, because they have already spent huge amounts of money for these units, and they probably pay ENORMOUS monthly or annual association and management fees. These issues should have been addressed and remediated long before the Boards had to sue those responsible for shoddy workmanship, poor design/engineering and perhaps untested innovations.

People need to realize that these Pents in Billionaires Row were never made to get sold in the first place, New York is going to become what Swizz banks used to do in the olden days

1.5 million dollar dumbass with a hilti😂

maybe charge people more if they don’t live there. you shouldn’t really punish families.

Paying that much and not even having a terrace.

Too much repetition to lengthen the video...thumbs-down.

Even the super rich has problems 😮

432 Park is one of the most boring looking skyscrapers I’ve ever seen.

Trust me us New Yorkers know about what's going on . There's a lot of us that are pissed off about it but all our politicians do is give us lips service then do nothing about it.

1500 defects wow I wouldn't take a unit if they gave it to me.

For 129 million, or whatever, you could buy an island in a tropical location and live the rest of your life surrounded by beaches, trees and warm weather all year round. No-one to bother you, unless you wanted friends to visit. I've never been to New York, but I do live in a heavily populated city. I can't imagine having that much money, and willingly choosing to stay surrounded by so many people. It's madness.

This is a pretty dumb video because you are acting like all of the towers on billionaires row as the same issues as 432 Park Ave. 432 was meant to be pretty much an investment only type of building rather than the other ones that actually put effort in their design. I don't blame you for hinting out the issues, but trying to blame all of those issues on all of the buildings is pretty exaggerated. (Also you kept saying 0ne59, its One57)

Billions of dollars but not willing to spend on earplugs. When you realise your property is costly, limited growth and no liquidity whatsoever. Bitcoin will make it irrelevant one day, when the other 99% embrace it

These building are architecturally ugly. A city like New York should have never have approved such hideous design. I honestly can’t look at images from Central Park anymore.

Because NYC is lost beyond saving.
The ONLY people buying those properties is overseas money that will never set foot in that cesspool.