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Billionaires' Row (Manhattan)
Billionaires' Row is a group of ultra-luxury residential skyscrapers, and the neighborhood surrounding them, near the southern end of Central Park in the Midtown section of Manhattan in New York City. Several of these buildings are in the supertall category—taller than —and, as of 2024, include the world's three tallest residential buildings. Since several of these pencil towers are on or near 57th Street, the term can refer to this street as well. Context The neighborhood has some of the most expensive residences in the world. The top two floors of One57 sold to Michael Dell for $100.47 million in 2015, setting a record for the most expensive apartment ever sold in New York. Another bi-level apartment in the building was bought by hedge fund manager Bill Ackman for $91.5 million. The top penthouse at 432 Park Avenue went to Saudi retail magnate Fawaz Al Hokair for $87.7 million, and hedge fund manager Kenneth C. Griffin is said to have bought four floors at 220 Cen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Estate Development
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction or Home construction, housebuilding, although many developers also manage the construction process or engage in housebuilding. Developers buy land, finance real estate deals, build or have builders build projects, develop projects in joint ventures, and create, imagine, control, and orchestrate the process of development from beginning to end.New York Times, March 16, 1963, "Personality Boom is Loud for Louis Lesser" Developers usually take the greatest risk in the creation or renovation of real estate and receive the greatest rewards. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
432 Park Avenue
432 Park Avenue is a residential skyscraper at 57th Street and Park Avenue in Midtown Manhattan in New York City, New York, U.S. The tower was developed by CIM Group and Harry B. Macklowe and designed by Rafael Viñoly. A part of Billionaires' Row, 432 Park Avenue has some of the most expensive residences in the city, with the median unit selling for tens of millions of dollars. At the time of its completion in 2015, 432 Park Avenue was the third-tallest building in the United States and the tallest residential building in the world. , it is the sixth-tallest building in the United States, the fifth-tallest building in New York City, and the third-tallest residential building in the world. 432 Park Avenue has 84 numbered stories and a mezzanine above ground. The tower's exterior is a lattice of poured-in-place concrete made from white Portland cement. The tower is segmented into 12-story blocks separated by open double-story mechanical spaces that allow wind gusts to p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
15 Central Park West
15 Central Park West (also known as 15 CPW) is a luxury residential condominium along Central Park West, between 61st and 62nd Streets adjacent to Central Park, on the Upper West Side of Manhattan in New York City. It was constructed from 2005 to 2008 and was designed by Robert A.M. Stern Architects in the New Classical style. The building consists of two sections: "the House", a 19-story structure occupying the eastern part of the city block, and "the Tower", a 35-story structure occupying the western part of the block. It has approximately 200 apartments, of which two-thirds are in the Tower and one-third are in the House. Both the House and the Tower contain several setbacks, complementing the design of older apartment buildings on Central Park West. The Tower rises above a retail podium, which faces west toward Broadway. The two sections are connected by an elliptical entrance pavilion, which abuts a cobblestone courtyard and a private garden. The facade of 15 Central Par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Trust
Land trusts are nonprofit organizations which own and manage land, and sometimes waters. There are three common types of land trust, distinguished from one another by the ways in which they are legally structured and by the purposes for which they are organized and operated: * A real estate investment trust is a fiduciary arrangement whereby one party (the trustee) agrees to own and to manage real property for the benefit of a limited number of beneficiaries. * A community land trust (CLT) is a private, nonprofit corporation that acquires, manages, and develops land for a variety of purposes, primarily for the production and stewardship of affordable housing, although many CLTs are also engaged in non-residential buildings and uses. * A conservation land trust is a private, non-profit corporation in the US that acquires land or conservation easements for the purpose of limiting commercial development and preserving open space, natural areas, waterways, and/or productiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shell Companies
A shell corporation is a company or corporation with no significant assets or operations often formed to obtain financing before beginning business. Shell companies were primarily vehicles for lawfully hiding the identity of their beneficial owners, and this is still the defining feature of shell companies due to the loopholes in the global corporate transparency initiatives. It may hold passive investments or be the registered owner of assets, such as intellectual property, or ships. Shell companies may be registered to the address of a company that provides a service setting up shell companies, and which may act as the agent for receipt of legal correspondence (such as an accountant or lawyer). The company may serve as a vehicle for business transactions without itself having any significant assets or operations. Shell companies are used for legitimate purposes but can be used for tax evasion, tax avoidance, money laundering, to dodge current or future lawsuits or to achie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Time Warner Center
Deutsche Bank Center (also known as One Columbus Circle and formerly Time Warner Center) is a mixed-use building on Columbus Circle in Manhattan, New York City, United States. The building occupies the western side of Columbus Circle and straddles the border between Hell's Kitchen and the Upper West Side. It was developed by The Related Companies and Apollo Global Management, and designed by David Childs and Mustafa Kemal Abadan of Skidmore, Owings & Merrill. Deutsche Bank Center features twin towers, connected by a multi-story atrium. The building has a total floor area of . It contains office space, residential condominiums, the Mandarin Oriental, New York hotel, and the Jazz at Lincoln Center entertainment venue. The Shops at Columbus Circle shopping mall is placed at the base of the building, with a large Whole Foods Market grocery store on the lower level. The building was built on the site of the New York Coliseum, formerly New York City's main convention center ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Safe Deposit Box
A safe deposit box, sometimes referred to as a safety deposit box, is an individually secured container, usually held within a larger safe or bank vault. Safe deposit boxes are generally located in banks, post offices or other institutions. Safe deposit boxes are used to store valuable possessions, such as gemstones, precious metals, currency, marketable securities, luxury goods, important documents (e.g. wills, property deeds, or birth certificates), or computer data, which need protection from theft, fire, flood, tampering, or other perils. In the United States, neither banks nor the FDIC insure the contents. An individual can purchase separate insurance for the safe deposit box in order to cover e.g. theft, fire, flooding or terrorist attacks. Some hotels, resorts, and cruise ships offer safe deposit boxes or small safes to their patrons, for temporary use during their stay. These facilities may be located behind the reception desk, or securely anchored within private gue ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pied-à-terre
A ''pied-à-terre'' (, plural: ''pieds-à-terre''; French for "foot on the ground") is a small living unit, e.g., apartment or condominium, often located in a large city and not used as an individual's primary residence. The term implies use of the property as a temporary second residence, but not a holiday home, either for part of the year or part of the work week, usually by a reasonably wealthy person. If the owner's primary residence is nearby, the term also implies that the residence allows the owner to use their primary residence as a vacation home. Pieds-à-terre attracted discussion during the 2010s in Paris and New York, where they are argued to cause a reduction in the overall housing supply. A tax on such units has been discussed since 2014. Legislation of pieds-à-terre New York In 2014, ''The New York Times'' reported 57% of units on one three-block stretch of midtown Manhattan were vacant over half of the year. Many of the buildings mentioned border Central ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset Forfeiture
Asset forfeiture or asset seizure is a form of confiscation of assets by the authorities. In the United States, it is a type of criminal-justice financial obligation. It typically applies to the alleged proceeds or instruments of crime. This applies, but is not limited, to terrorist activities, drug-related crimes, and other criminal and even civil offenses. Some jurisdictions specifically use the term "confiscation" instead of forfeiture. The alleged purpose of asset forfeiture is to disrupt criminal activity by confiscating assets that potentially could have been beneficial to the individual or organization. Asset forfeiture was found to generally increase with the percentage of the assets retained depending on electoral incentives. Civil and criminal law The standards of proof generally differ in criminal procedure and civil procedure. In civil cases the preponderance of the evidence which is described as anything over fifty percent can be sufficient. United Nations Conve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Laundering
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds into a seemingly legitimate source, usually through a front organization. Money laundering is illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered). As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate. Most countries implement some anti-money-laundering measures. In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Office of the Comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Avoidance
Tax avoidance is the legal usage of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable. A tax shelter is one type of tax avoidance, and tax havens are jurisdictions that facilitate reduced taxes. Tax avoidance should not be confused with tax evasion, which is illegal. Forms of tax avoidance that use legal tax laws in ways not necessarily intended by the government are often criticized in the court of public opinion and by journalists. Many businesses pay little or no tax, and some experience a backlash (sociology), backlash when their tax avoidance becomes known to the public. Conversely, benefiting from tax laws in ways that were intended by governments is sometimes referred to as tax planning. The World Bank's World Development Report 2019 on the future of work supports increased government efforts to curb tax avoidance as part of a new social contract focused on human capital investments and expanded social protection. "T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Flight
Capital flight, in economics, is the rapid flow of assets or money out of a country, due to an event of economic consequence or as the result of a political event such as regime change or economic globalization. Such events could be erratic or untrustworthy behavior by leadership, an increase in taxes on capital or capital holders or the government of the country defaulting on its debt that disturbs investors and causes them to lower their valuation of the assets in that country, or otherwise to lose confidence in its economic strength. This leads to a disappearance of wealth, and is usually accompanied by a sharp drop in the exchange rate of the affected country—depreciation in a variable exchange rate regime, or a forced devaluation in a fixed exchange rate regime. This fall is particularly damaging when the capital belongs to the people of the affected country because not only are the citizens now burdened by the loss in the economy and devaluation of their currency but ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
