Midtown Emerging In Manhattan Luxury Real Estate - Business Insider

Julie Zeveloff/Business Insider

The driveway of 15 Central Park West

New York City is becoming a place where you're either very rich or very poor.

And in the coming years, the super rich will be moving to Midtown ? the city's up-and-coming "Billionaire's Belt," as author Michael Gross calls it.

Gross, the author of 740 Park and Unreal Estate, said he had seen an uptick in the number of billionaires flocking to luxury buildings in the 57th Street and 59th Street corridors to the southern corner of Central Park, along to the Bloomberg building and 432 Park Avenue.

"This neighborhood never really defined itself before," Gross told Business Insider. "Now, it's becoming the new 'billionaire's belt.'"

Luxury towers of note in the neighborhood include One57 (made famous by the "dangling crane" during Hurricane Sandy), 15 Central Park West, the Timer Warner Center, and the Metropolitan Tower. And it will soon be home to Nordstrom's flagship NYC department store. Fifty-seventh Street and Central Park South form the ?spine? of this belt.

"It's not uptown, but it's not downtown," Gross said, which prompted him to nickname the region.

"This area has the potential, in the next few years, to become the richest neighborhood in the country," he added.?

DON'T MISS: A Sneak Peek Inside One57, The Super Expensive Apartment Building Being Built Right Now

Source: http://www.businessinsider.com/midtown-emerging-in-manhattan-luxury-real-estate-2012-11

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