I think that's pretty strange reasoning. Most likely the rates for this building will be lower than the rates for places along other sides of the park, but still high because of the views and because the property is new.
The following involves even stranger reasoning still.
"It's a gutsy gamble and, if it works, no area of the city may again be off-limits to luxury development. Every market-rate home developer hence will be able to toss off the line, "Well, Athena made it work with 111 Central Park North."
No area of the city? How about no area of the city with views of Central Park? The key difference is the amenity of Central Park views. Those are obviously in extremely short supply. I don't see how the construction of a condo on one of the world's most celebrated parks would say nearly anything about developers ability to build luxury properties in other parts of the city that overlook neither park nor bodies of water.
The size of this building, incidentally, is absurdly small. It should be at least double the size. Zoning schmoning.
I think that's pretty strange reasoning. Most likely the rates for this building will be lower than the rates for places along other sides of the park, but still high because of the views and because the property is new.
The following involves even stranger reasoning still.
"It's a gutsy gamble and, if it works, no area of the city may again be off-limits to luxury development. Every market-rate home developer hence will be able to toss off the line, "Well, Athena made it work with 111 Central Park North."
No area of the city? How about no area of the city with views of Central Park? The key difference is the amenity of Central Park views. Those are obviously in extremely short supply. I don't see how the construction of a condo on one of the world's most celebrated parks would say nearly anything about developers ability to build luxury properties in other parts of the city that overlook neither park nor bodies of water.
The size of this building, incidentally, is absurdly small. It should be at least double the size. Zoning schmoning.