The NYT has an interesting article this weekend in the Real estate section about buildings that have misleading addresses. I live and work in a building at 400 Central Park west where the entrance is on 100 street. This is not too bad in my opinion because we do have frontage on Central Park west: both the side of our building, garden and a parking lot. However, our neighbors to the west at 392 and 382 CPW are actually located on Columbus avenue but have what we call a vanity address.
Similarly, the building at 1049 fifth avenue where Rush Limbaugh lived is actually a half block down on E 86 street. Zeckendorf’s new developement 520 Park avenue also does not have any frontage on the coveted Park avenue but they did buy the air rights from the church who used to have that very same coveted address. Now the church has changed their address to 524 Park avenue and the Zeckendorfs the developers of 15 CPW have their coveted address. The Zeckendorfs have also pledged support for the church in exchange for keeping their address of 520 Park avenue. As so goes the world of real estate…
So in real estate the old adage needs to be revised from location,location, location to address,address,address…Read the full article below to learn why a vanity address will be harder to get in the future.