They aren't buying for any of those, it's just an investment. You're overthinking this. Ken griffin doesn't give two shits what other billionaires think about his property, he just believes that 220cps is a good investment, and whether or not he lives there, it has been a good investment. Property is a great place to park money, all things considered.

Yeah but these buildings are not priced to sell. They're priced to price. If they wanted to price to sell there woudl be no full floor units they would just cram 7 2 bedrooms on every floor. They price to price on purpose, because it's an investment building not a residential building. Literally nothing about standard residential development or real estate dynamics applies here. You talking about "2nd floor doesn't have a kitchen and that's weird" like whoever buys the top 3 floors of this building give a shit about the cost of building a kitchen. Who is buying the top two floors and being like "damn it I have to spend $2M and wait 9 months for my kitchen, to move in!"

The building already has 2 duplexes and like 15 full floor units lol. I think 107 & 127 are duplexes and then everything in between those are full floors. They might split, anyway. A lot of high end buildings will split their units up if they don't sell fast enough and they lose patience

Yeah I know but that thing is literally just not worth 250m. Like 220cps sold the top 4 floors for less than that for more square footage, not to mention 220cps is way most costly per sqft

No, I don't. Flatiron new developments are going for $2k-$4k/sqft right now and they are having no trouble clearing inventory (flatiron house for ex). Also owning a 5m property is not that selectively "wealthy" for a location as central as 23rd. It's a lot, sure, but there's also a lot of wealthy people in this city

That thing is not selling for 250m lmao. They're just putting it at that price for the marketing

Brand new 2k sq ft in the flatiron building would go for well above 3m. Probably closer to 6m, with ~$3k/sqft. With the risk of construction/condo dev it seems like a reasonable buy.