most expensive buildings in NYC

maps, real estate trends

MAS 421a tax exemption map

By now it’s no secret that there’s an unbalanced tax system in place for those living in the city’s luxury towers, but exactly how much is being lost–and where–has for the most part been a mystery. To shed some light on just how much of our money goes into subsidizing the likes of One57 and its eye-poppingly expensive friends, the Municipal Arts Society (MAS) has created a map (h/t Gothamist) that shows not only how much tax each of the city’s top buildings skip out on annually under the 421a tax abatement, but how long their exemption will last—which together can add up to staggering amounts for many. Last year alone, MAS found that we forfeited $1.1 billion in tax revenue and 60 percent of that went to building apartments in Manhattan targeted at the 1 percent.

Find out more here

Celebrities, Recent Sales, Upper West Side 

15 Central Park West, Sara Blakely, Spanx, NYC celebrity real estate

That’s right, $18 million. According to city records, Spanx founder and self-made billionaire Sara Blakely sold her apartment at 15 Central Park West for $30 million, almost triple the $12.11 million she paid for it in 2008.

The sale comes on the heels of CityRealty releasing its CityRealty 100 list of most expensive homes in the city, on which 15 Central Park West is listed first. The prestigious, Robert A.M. Stern-designed building has an average price per square foot of $6,288 (the Time Warner Center, which came in second has an average of $4,689) and it also holds the priciest condo sale through the second quarter of 2014 at $48 million.

More about Blakely’s highly profitable sale

SIGN UP FOR OUR NEWSLETTERS

Thank you, your sign-up request was successful!
This email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.