With the housing market in recovery mode, developers are taking multifamily buildings to staggering new heights, vying for the title of tallest tower and the prestige that translate into larger returns on investment while delivering the breathtaking views buyers are seeking. In major cities across the globe super-tall towers are popping up to meet demand. Following is a selection of tall residential towers either recently completed or in varying stages of construction.
New York By Gehry
Height: 870 feet, 76 stories Developer: Forest City Ratner Architect: Frank Gehry Completion: 2011 Prices: $2,290 per month for studio rentals up to $45,000 per month for the North Penthouse
Photo: AFP/Getty Images
New York by Gehry, New York, N.Y.
New York by Gehry currently holds the title of tallest all-residential tower in the Western Hemisphere. The penthouse unit, which came to rental market asking $60,000 per month in 2012, is still up for grabs. New price tag: $45,000, for 3,771 feet spanning the northern wing of the 76th floor. The building, located in Lower Manhattan near the World Trade Center, houses a private amphitheater, a catering kitchen and dining room, a sundeck, fitness center, children’s play rooms and a public school. The building’s brokers and developers have said it is not unusual to see snow from the top floors — and simultaneously rain from the lower levels.
Photo: New York by Gehry