[credit provider=”Wikipedia” url=”http://en.wikipedia.org/wiki/File:One_Madison_Park_from_Madison_Square_Park.jpg”]
It’s not new that being thin is trendy.Maybe a little more shocking is that this trend is also true in the real estate market.
Buildings are thinner than ever, especially in places where there isn’t much space to build, according to The Wall Street Journal’s Eliot Brown.
The trend isn’t only being seen in New York. Skinny buildings have been in Hong Kong for years, and are just now popping up in Tel Aviv and Vancouver, Brown notes.
Until recently, architects would design highrises with larger floors that were more stable and spanned around 10,000 square feet.
Now, super-luxury buildings such as the still-under-construction One57, 432 Park Avenue, and One Madison Park are cropping up with skinny bases, at 6,240, 8,250, and 3,300 square feet, respectively.
Thin is in because of advances in architecture and design, Brown notes. But it’s also become trendy in places like New York where unused space is scarce, and buyers are willing to pay for the views afforded by higher floors.
Vancouver, British Columbia developer Jon Stovell, who last year finished a 350-foot tower that has 4,850-square-foot floors, told The WSJ, “If you can build more slender and higher, you can get more units with good views—and height is valued.”
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