Towering silliness
How the city’s skyline is shaped by tax breaks
ITS prospectus declares that One57 will redefine luxury New York living; its bland interiors are, apparently, the acme of Danish modernism. The best condominiums in the building are said to sell for $100m. Strangely, the sales pitch does not mention that this luminous skyscraper beside Central Park benefited from tax breaks generously provided by New York city. Uncertainty about the future of that handout helps to explain why the city is in the midst of a building boom.
This article appeared in the United States section of the print edition under the headline “Towering silliness”
From the August 15th 2015 edition
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