Why New York’s Billionaires’ Row Is Half Empty

Manhattan’s skyscrapers aren’t really built for people anymore.
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Presenter - Fred Mills
Producer - Jaden Urbi
Camera Op and Video Editing - Aaron Wood
Motion Graphics - Vince North
Executive Producers - Fred Mills and James Durkin
Associate Producers - Liam Marsh, Adam Savage and Tim Gibson
US Travel and Logistics - Caroline Mills
Special thanks to Ryan Serhant, Matthew Soules, Samuel Stein and The Dronalist.
Additional footage from SERHANT., louisatalksbuildings, cody.boone, matalynnthayer, thevictoriashtainerteam, nilelundgren, nyconstructionphoto, Hey, it’s Kimberlee!, Periscope Film, Andrew M Cuomo, ABC News, CNBC, Municipal Art Society of New York, Streeteasy, Bloomberg, Euronews, Disney and OpenStreetMap contributors.
For more from The Dronalist visit - bit.ly/3dCW0iM
Ryan Serhant’s channel - bit.ly/3pPYClA
Kimberlee’s channel - bit.ly/33qCTZW
Matthew Soules’ book - bit.ly/3IKEBpi
Samuel Stein’s book - bit.ly/3m0UuOn
Additional research:
SERHANT. - bit.ly/3GEu64V
New York City Housing and Vacancy Survey - bit.ly/3EVCzjG
NYC IBO Report on One57’s 421-a exemption - bit.ly/3ykIH2t
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ความคิดเห็น: 17 815

  • Buba Dukuray
    Buba Dukuray5 หลายเดือนก่อน

    Wow! Wow! Wow! Just wow! They did it guys. They kept their promise. The half an hour video from the best channel for construction in the world just gave us the best treat of the year. I love you B1M. Your videos are spectacular. I can write almost an entire book about how much y’all have helped me in learning about construction projects around the world right here from the comfort of my home 📱 🛋 . You guys are the absolute best of the best . I’m sooooo grateful for rocking with y’all for over a year now I believe. Keep up the spectacular work mate 👏🏾🤍 🚧 And Sending loads of love right here from The Bronx NewYork City 😊

  • Buba Dukuray

    Buba Dukuray

    19 วันที่ผ่านมา

    @adam j they were trying to be rude

  • Slaven Arkaimovski

    Slaven Arkaimovski

    22 วันที่ผ่านมา

    Do you ever think about New York as city that is,and should be.

  • adam j

    adam j

    หลายเดือนก่อน

    @Buba Dukuray a slap what was there comment I don't see it?

  • JW
    JW4 หลายเดือนก่อน

    The one thing that amazed me the most when I moved to the US 10 years ago, was lobbying. I believe it's called bribery in the rest of the world.

  • Khalid Young

    Khalid Young

    3 วันที่ผ่านมา

    UK lobby more than any country. it's not illegal to donate money to a cause you care for because by donating will potentially help you. alot of times the person donating get nothing. especially if the party loses the election. would you say no to a person who asked fo build a home after they donate 100k to your charity n all u gotta do is allow it. heck no you wouldn't.

  • Toofah5

    Toofah5

    6 วันที่ผ่านมา

    It's called racketeering here

  • Geoff Lepper

    Geoff Lepper

    14 วันที่ผ่านมา

    @Brennan Schafer lobbying and bribery should be different things but when politicians running for office fund raise for their campaigns by having large dinners which people attend at great expense to basically be given access to talk to the politician at the dinner then lobbying and bribery start to merge. Also, don't think that anyone doubts that when a large corporation or industry organization makes a large contribution to the political campaign of a politician that the politician will have that donation on his/her mind when he makes decisions that impact that company/industry. This happens in many countries but seems so extreme in the United States where political campaigns cost ridiculously high amounts of money. Have read that American Senators spend 50% of their work time working on raising money because they have no choice if they want to have enough money to win their next election. If that's true I don't know but it seems possible.

  • Gideon Budd

    Gideon Budd

    27 วันที่ผ่านมา

    @Patrick ...

  • chewy dewy
    chewy dewy8 วันที่ผ่านมา

    What got me was the way he said "owning a house has been made an equal opportunity" which it has never been. Owning a house has always been this luxury investment.

  • William Terrell

    William Terrell

    5 วันที่ผ่านมา

    *If you put captions on* “And that opportunity hasn’t been made equal to everyone” So I and he both agree with you 🫡

  • faicotone
    faicotoneหลายเดือนก่อน

    The same thing is happening in Bangkok and I can imagine many other big cities in the world. Communities and the locals are wiped out to make place for development projects of luxury condos and shopping centers. It's ridiculous how we have so many empty houses and homeless people at the same time.

  • Justin Davis

    Justin Davis

    หลายเดือนก่อน

    This is why land should not be so liquid. The rich will get more and the poor will get even less.

  • Tic Toc Melody
    Tic Toc Melody2 หลายเดือนก่อน

    This was a fantastic video. I've been saying this for years, and taking photos at every construction site I see, all of these buildings, they're eyesores. Fantastic footage, and beautifully explained. They run people out of neighborhoods, build luxury apartments that stay empty, like they did on Berry Street in Williamsburgh. They turned that entire street into a ghost town. Maybe people live there now, but for years it was almost eerie, taking a beautiful, adorable working class neighborhood and turning it into ghost town with ugly, over-designed buildings. The 21st century has been nothing but a time for lowlifes and imbeciles, hasn't it? lol.

  • Mike Yorkav

    Mike Yorkav

    หลายเดือนก่อน

    The wrong country won the cold war and the ghouls are having a frenzy

  • Kevin .M
    Kevin .M2 หลายเดือนก่อน

    The amount of tax breaks given to the ultra rich is insane let alone all the loopholes they can just take advantage of; yeah they’re there and the and technically anyone can take advantage of them but 90% of people wouldn’t have enough money to take advantage of them in the first place.

  • comeawaywithme

    comeawaywithme

    14 วันที่ผ่านมา

    @Black Water thank you so much for this comment

  • Bob Bowie

    Bob Bowie

    20 วันที่ผ่านมา

    marriage and having kids is a loophole then

  • alcatel😊😊😊😀☺

    alcatel😊😊😊😀☺

    28 วันที่ผ่านมา

    It's not so much about the taxes and the tax code as much as it is about the price of the politicians who write those tax codes.

  • Black Water

    Black Water

    หลายเดือนก่อน

    @astralblue "in response to your response to Kerbal, you can easily open a business and file for an LLC or an SCorp if you have a partner, for a couple hundred and use that business's line of credit to buy the things needed to start and run the business." That's just a part of the story. Everbody can start a business yes it is easy, however, it IS also gamble even if you THINK you have a million dollar idea. If it doesn't work out the rich can just abandon the business and start another one and try their luck again, rinse and repeat, hence, "the rich getting richer"(ever play monopoly? 🤣). Again "it takes money to make money", it's just as simple as that. The rich have excess cash they can gamble on while the middle class has to take out loans and pray to Jesus everything will turn out ok. If you are the bread winner of a family of 5 there is no way in hell you would abandon your 9-5 job and live on credit, that's how people end up losing their house, wife and kids. Let's be real. Lmao!

  • astralblue

    astralblue

    หลายเดือนก่อน

    @Black Water in response to your response to Kerbal, you can easily open a business and file for an LLC or an SCorp if you have a partner, for a couple hundred and use that business's line of credit to buy the things needed to start and run the business. So to answer your question, yes the middle class gets that safety net too.

  • Louis Rossmann
    Louis Rossmann4 หลายเดือนก่อน

    The retail stores are empty the offices are empty, and billionaire's row is empty. Welcome to NYC!

  • id01

    id01

    6 วันที่ผ่านมา

    Our people are like NYC All empty inside

  • Fatimah Makgatho

    Fatimah Makgatho

    12 วันที่ผ่านมา

    That's kinda sad....

  • NoirMorter

    NoirMorter

    12 วันที่ผ่านมา

    People still say you're lying which is always funny. I watch your videos when they say it.

  • iEmbarcadero

    iEmbarcadero

    19 วันที่ผ่านมา

    Run for office of stop ya whinin'!

  • Jason Graham

    Jason Graham

    23 วันที่ผ่านมา

    Again, I'll take a retail space for a dollar if you are selling.. ;)

  • Christina Cover
    Christina Cover2 หลายเดือนก่อน

    This video is phenomenal and so informative. I’m curious to know how the affordable housing in the Bronx created by the billionaire’s row developers compare to their building in Manhattan in terms of in design and overall quality. I’d argue that we know what they are capable of and should see similar quality, luxury and attention to detail in the affordable housing built in the Bronx.

  • bellmeisterful

    bellmeisterful

    25 วันที่ผ่านมา

    Christina. Christina, Im sure you're a nice young lady. But you're speaking in the language of which fairy tales are born. You've heard that saying that people don't appreciate things, that they didn't work for? It's very, very true. I've seen affordable housing go up in two different places. That was brand new one minute and just months later they was trashed. And I remember thinking that they would take good care of it 'cause...It was just so nice and new, and the screens were ripped off and torn up, and the yard, everything was just trashed in six months. To put billionaire type quality in affordable housing would be honestly, it would be a very sad thing to do because they would trash the hell out of it. People just don't appreciate things that are handed to them. Not like people do that worked for it.

  • Diane Green

    Diane Green

    หลายเดือนก่อน

    @Christina Cover Thank you for clarifying, I agree with your expressions.

  • Christina Cover

    Christina Cover

    หลายเดือนก่อน

    @Diane Green That’s a great question. I think by luxury in my initial comment I meant aesthetic beauty and attention to details, perhaps modern appliances and modern features in the apartments. I understand that the luxury cannot be the same as what is offered at Billionaire’s Row because of profit, as @scott said in the comments, but just wish that wasn’t a factor, especially since the developers are so wealthy. I do not know of the quality of the housing created by the developers in the Bronx but was just thinking about how the developers might morally justify intentionally not building/designing as well or giving the housing in the Bronx the same attention to detail (other than cost)

  • Christina Cover

    Christina Cover

    หลายเดือนก่อน

    @scott clunie I appreciate your response! I understand that using the same materials would not make it an affordable project for the developers, but there have long been reported issues of deteriorating and troubling conditions in some affordable housing developments that can lead to issues including mold, issues with air quality and troubles with utilities like hot water and heat. I absolutely cannot assume that any of these issues have happened at the Bronx housing created by Billionaire’s Row developers, but it would be really troubling to me that the idea of profit would come before doing the best quality job - perhaps not to the complete extent of materials used in Manhattan, but excellent design and quality - that they know they can do and are capable of doing.

  • Diane Green

    Diane Green

    หลายเดือนก่อน

    Define the luxury that you mentioned. 🤔

  • Sam King
    Sam Kingหลายเดือนก่อน

    If someone said to me they lived at "220", I would think they were idiots for expecting me to know what that meant.

  • Sam King

    Sam King

    16 วันที่ผ่านมา

    @E G You're right, I wouldn't live there cos' I hate heights.

  • E G

    E G

    17 วันที่ผ่านมา

    Yeah but you're not their intended audience

  • dontbeadrone
    dontbeadroneหลายเดือนก่อน

    I particularly enjoyed the sociological implications covered in the last few minutes of the video. While I am a firm believer in capitalism as the most beneficial economic system, the way it has been corrupted and perverted in places like America carry the inherent risk of system-wide collapse...and its replacement with something scary. I do think places like Finland...and other Nordic countries...which are repeatedly listed year-to-year as the "happiest" places on earth offer a better paradigm, wherein the wealth created by their capitalistic systems is more successfully invested back into the society at large. Sadly, I don't see this ever happening in America, where the individual and individualism is "King," whereas in other societies the common good is more highly regarded.

  • Most Expensive
    Most Expensive2 หลายเดือนก่อน

    "skyscrapers swaying in the wind" just unlocked a whole new level of fear of heights for me

  • chewy dewy

    chewy dewy

    8 วันที่ผ่านมา

    Actually everything that is over 4 stories or so sways, but it's actually necessary for things to sway a very specific amount otherwise they'll break. It's called harmonic resonance and it's pretty cool

  • Dana N

    Dana N

    12 วันที่ผ่านมา

    All skyscrapers sway because the wind will break them otherwise. They work a bit like bending tree branches.

  • Bryan Mercado

    Bryan Mercado

    หลายเดือนก่อน

    All skyscrapers need to sway to a certain amount. If they don't sway, that would be more concerning.

  • Aqua
    Aqua4 หลายเดือนก่อน

    I like how this channel has gone from discussing and praising the architecture of billionaire's row to pointing out how fucking terrible it is for literally everyone. Character development.

  • InventaChris

    InventaChris

    2 หลายเดือนก่อน

    Billionaire's Row towers are iconic. Stay pressed.

  • AVPDALLAS AVPDALLAS

    AVPDALLAS AVPDALLAS

    3 หลายเดือนก่อน

    @Asherasator Hey Asherasator, you say "Most rich people are condemned by God", so then I should 1) Stop working 2) Collect food stamps and Social Service benefits 3) Breed babies non-stop into poverty and not condemn them 4) Collect government breeder tax credits for beans n rice kinda sucks 4) Borderline live homeless been there, also kinda sucks. . . . . . . . You rocked my world with your analogy Asherasator! I've been doing it wrong all these years trying to get out of poverty. I'm changing my ways so that God accepts me, Thanks : )

  • Gretar Einarsson
    Gretar Einarssonหลายเดือนก่อน

    Part from the awesome engineering but, in some cases at least, questionable “beauty”, there is something absolutely disgusting about the wealth needed to afford to live or buy apartment in these buildings. But of course money and good taste seldom go hand in hand.

  • Ksj_eat
    Ksj_eat2 หลายเดือนก่อน

    The older I get the more it blows my mind how big the gap between the rich and the poor is. It's like night and day, no matter how hard I work in my life I'm never gonna have the wealth the top 1% do. The state I live in has gone up 3 times in rent and property worth is sky rocketing. Residents of other states have been moving to Arizona and buying multiple properties and increasing rent. I'm only 21 years old and I'm already deciding that I can't live here because of the cost. I'm hoping now for a miracle so I don't have to spend the rest of my life struggling for a well paying job even with a bachelors degree. If only I was born into wealth

  • MARISA COGNETTA

    MARISA COGNETTA

    5 วันที่ผ่านมา

    You think making 300 an hour is top 1 percent 🥴🥴 🤔mmmk

  • Cheepchipsable

    Cheepchipsable

    12 วันที่ผ่านมา

    @kat Who did your father steal from to get that. Why would this rich man's son have nothing better to do than post comments on YT?

  • patrick rainey
    patrick rainey2 หลายเดือนก่อน

    Honestly I love these buildings. From an architectural perspective they are gorgeous. I was in awe when I saw them in person. I love how the nyc skyline evolves. I just wish that much effort was put into housing for normal ppl

  • woowoolip
    woowoolipหลายเดือนก่อน

    432 view is absolutely amazing. The first time I saw the building in person I was like why is it so tall when everything is small. It’s so slender it looks like it’s gonna fall down it’s weird Apart from the amazing view it offers , it is so stupid judging from. How the buyer almost never live there and how the building has so many problems.

  • Philstory
    Philstory3 หลายเดือนก่อน

    This part really rubbed me the wrong way, When Serhant said "Smart people end up being incentivized to make money and their lifestyle increases" Ryan Serhant is not self made, his father was the vice chairman at a company with 3.9 trillion USD in assets under management. He was born in the purple.

  • Patricia Rouse

    Patricia Rouse

    7 วันที่ผ่านมา

    @Mitchell Sewell corporation welfare is bragging about dodging taxing while tightening that sphincter around tax revenue government contracts and keeping that colonic flowing.

  • Patricia Rouse

    Patricia Rouse

    7 วันที่ผ่านมา

    Insentivised is enabler talk for mentally deficient obsessive behavior. Billionaire neglects abuse polute and mass murder incite murder to much

  • --

    --

    9 วันที่ผ่านมา

    @wednesday adams Because simpletons believe that hard work will make them billionaires one day. While it may be true that you could work hard and become rich but with the tax code heavily influenced by the rich and personal/family/child needs, most of us can only work so smart and hard but will never get there. In fact, the rich and the powerful like their club exclusive and don't want the likes of you/me to walk amongst them so they finance political influences to keep us out. Good luck explaining that to the simpletons...

  • ikmarchini
    ikmarchiniหลายเดือนก่อน

    Odd. You hardly mentioned at all about the half of the units which are occupied year-round and how the residents have organized to sue the various builders. The towers sway, creak, groan, and other strange noises, they leak water thru the floors into lower units, and things tend to break from wind strain. Maybe one reason the towers are half empty is they are terrible places to live.

  • Cheepchipsable

    Cheepchipsable

    12 วันที่ผ่านมา

    @bellmeisterful You sound incredibly naive about the building industry. Plenty of new buildings have problems. You can't just return the property and get a refund - it takes many years of negotiation and lots of money to either get some satisfaction to rectify things or get compensation. Often the architects don't have a clue as to what is might be causing a problem, just depends what it is. The bigger the building the harder it is to fix.

  • Dana N

    Dana N

    12 วันที่ผ่านมา

    @bellmeisterful they actually did mention it in the video. There have been numerous skscrapers that have had engineering issues but usually they arent terrible wnough for the building to fall but to have some minor stresses which will be fixed when issues are discovered

  • bellmeisterful

    bellmeisterful

    25 วันที่ผ่านมา

    I'm sorry, but that just smacks of bullshittery. Those buildings have to be made up to code and with all these modern, very strong methods and materials. I'm sorry, I just find that very hard to believe that a billionaire's building was made so horribly. I just, you know, that makes no sense. To the point where I'm gonna just flat out. Can't believe it. No way.

  • Positive Mindset
    Positive Mindsetหลายเดือนก่อน

    BM1 you deserve an award for many of the contents that you bring to us on YT. Thank you!

  • Victoria James
    Victoria James2 หลายเดือนก่อน

    I mean, at least Ryan Serhant answered The B1M call & gave permission to use his video footage of the luxury buildings which really enhanced the quality of the video. All the other rich developers & buildings declined to say anything to The B1M. Ryan is just saying the truth, I learned a lot just by listening to him, I always wanted answerers to these kinds of questions, so I am glad he shared his knowledge with the Internet.

  • Eric Wolford
    Eric Wolfordหลายเดือนก่อน

    i was just in ny for the first time the past 3 days. I saw all of these buildings and watching this very well put together documentary gave me a full circle outlook on the city. very well done.

  • Bly Gilmore
    Bly Gilmore5 หลายเดือนก่อน

    The scary thing is this move to own housing as an investment isn't just restricted to these ultra-wealthy properties like Billionaire's Row. More and more 'normal' homes are being scooped up as an investment at the detriment of people who'd actually like to live there.

  • DFFUSE

    DFFUSE

    2 หลายเดือนก่อน

    This happened in Amsterdam, investors buying houses and then renting them out to wealthy people at a high price the common people can't afford here. But the government makes it so if you buy a house you also have to live there for at least 1 to 5 years I believe.

  • Lex_xoxo

    Lex_xoxo

    2 หลายเดือนก่อน

    Yeap like our good friend Zillow scooping up all the houses across America to merely sit on them and hyper inflate the market.

  • Akane Kurashiki

    Akane Kurashiki

    2 หลายเดือนก่อน

    Don't worry, the bubble will crash soon

  • brett d
    brett dหลายเดือนก่อน

    This is a fantastic video mate, well done. It traverses a wide range of important topics. I live on the other side of the world from NY, but what you highlight here is happenning everywhere, just not quite as extravagantly. Thanks for the effort

  • lagritsalammas
    lagritsalammas2 หลายเดือนก่อน

    This was SO well done! So many issues raised, so many faces interviewed, such a deep dive! Loved it!

  • Khyber
    Khyber20 ชั่วโมงที่ผ่านมา

    I think the funniest thing is that the actual residents of these tombstones say the maintenance and upkeep is actually pretty poor for these buildings.

  • Ayo Yayo
    Ayo Yayo2 หลายเดือนก่อน

    As a developer I promise you if there is a loophole or exploit or “donation” that can be made to push a product forward it will be found and the project will push ahead, god bless capitalism

  • I zip-tied my penis to a brick

    I zip-tied my penis to a brick

    2 หลายเดือนก่อน

    Because state owned is so great 💀

  • Brandon Yates
    Brandon Yates5 หลายเดือนก่อน

    The overfocus on the hyper-wealthy seems to be a serious problem for the construction industry. Demand for regular homes is higher than ever and yet developers still aren't building enough of them.

  • M33M

    M33M

    หลายเดือนก่อน

    @Francis"small number of coastal states" the population of all coastal states, not even including the gulf coast, is like 150 million. Housing prices are still inflated inland in places like Atlanta, Nashville, Austin, Denver, and other places. Housing prices are up like 15-30% this year across the entire sun belt.

  • Internet Guy

    Internet Guy

    2 หลายเดือนก่อน

    @RushTest 4Echo yeah because it's always been about the top fucking over others

  • Stock Pistol

    Stock Pistol

    2 หลายเดือนก่อน

    Cause no one buying them no one can afford them

  • Asherasator

    Asherasator

    3 หลายเดือนก่อน

    @SA BNI That's exactly why ideas like communism evolved.

  • saedimic
    saedimic2 หลายเดือนก่อน

    "It's the way of the earth" is a weird phrasing. He's right, that if someone can do something heinous to their own benefit without consequences, most people will and rationalize it as being smart or better. But the response would be to adjust the system to have consequences. Because if you dont, you're liable to the other "way of the earth". The 'eat the rich' part. Do you want bombs in your cellar or death threats? do you want squatters? No? Maybe dont dodge taxes as much.

  • Lily Warner

    Lily Warner

    หลายเดือนก่อน

    @E J The working class have nothing to fear. Don't exploit others, don't get eaten. .Pretty simple!

  • E J

    E J

    หลายเดือนก่อน

    the way of the earth - well remember the French Revolution and madame guillotine - chop chop dude chop chop - hope when you “turn left” you don’t get caught 😳

  • L Sequeira
    L Sequeiraหลายเดือนก่อน

    Brilliantly made and narrated video. Thank you B1M.

  • Tom Dixon
    Tom Dixon2 หลายเดือนก่อน

    I would like to see an expansion of Central park towards the Hudson, 57th Street and east towards the ocean. This can begin withthe dismantling of a few of these buildings and creating fingers outwards in all four directions from the Park. Use the streets for parking. Only historic buildings built in the 20th century or earlier would be eligible for preservation.

  • darkowl9
    darkowl92 หลายเดือนก่อน

    I can't say that I like the aesthetics of all these stick buildings, but I can still appreciate their engineering.

  • Jake Wolven
    Jake Wolven4 หลายเดือนก่อน

    It was interesting to hear Ryan describe the people who evade taxes as "smart" and then 2 minutes later explain the problems that the rich are creating. It's like he understands it but chooses to not do anything about it.

  • Robert Luten

    Robert Luten

    4 วันที่ผ่านมา

    Every rich person understands it. They all choose not to do anything about it because that's not how they stay rich and get even richer

  • carole patterson

    carole patterson

    13 วันที่ผ่านมา

    @Wholesome Content Only IT'S NOT selfishness but rather a lack of a moral compass. Without a compass a sailor is lost on the ocean of blue n without a moral compass, a person and a society R lost at sea--a sea with no morals; no ethics; no guidance for SOULS lost in greed, empty of spirit & joy.

  • Doug G

    Doug G

    18 วันที่ผ่านมา

    He didn't discribe Evading taxes, He spoke of Avoiding taxes

  • pure cinnamon roll

    pure cinnamon roll

    19 วันที่ผ่านมา

    @Mason Russell it's not that crazy, entertain the thoughts in your head. place yourself in the position of one of these eminence grise type people and just THINK of what power you have at your fingertips and what someone with no qualms about taking advantage of others or exploiting the vulnerable and getting away with it all could do. what they WOULD do. what they HAVE done, in the history books, over, and over, and over, and over, and over, and over. that said i don't take a position on this. i don't know whether they're selected or elected because proof has never been offered for either one as far as i've seen, and it isn't really possible now is it? because vote results means trusting the same entity thats controlled and funded by the very people causing all of the problems and trying to maximize their influence in the first place.

  • Denis Vargas
    Denis Vargas2 หลายเดือนก่อน

    Guys this is an amazing video. Please keep producing these types of short documentaries, then we need as societies to start digging deeper into the interrelationships that different areas of our lives hang in the balance due our current financial system and wealth accumulation.

  • BlueBockser
    BlueBockser2 หลายเดือนก่อน

    21:02 I think I just regurgitated part of my breakfast after hearing that. "Don't question society's problems because that's the way society is"... By that standard we would still be living in caves.

  • pokke muur

    pokke muur

    หลายเดือนก่อน

    Right ☠️

  • Daniel
    Danielหลายเดือนก่อน

    Billionaires' Row is very impressive, and I'd like to see more of it!

  • Johnnie Boy
    Johnnie Boy2 หลายเดือนก่อน

    New York and California have housing laws that prevent builder's from producing a larger supply of houses which would drop the price of apartments to an affordable level like the rest of the country. Supply and demand makes things more fair for everyone.

  • Beacon, NY

    Beacon, NY

    หลายเดือนก่อน

    America thrives on status. Making New York and California affordable. No way. We have affordable states in the South and Midwest. They are affordable for a reason.

  • Goat-on-a-Stick
    Goat-on-a-Stick5 หลายเดือนก่อน

    Pretty much like the billionaires themselves: overrated and empty inside.

  • Sunny Hill

    Sunny Hill

    6 วันที่ผ่านมา

    💘

  • SiaA

    SiaA

    15 วันที่ผ่านมา

    @P Pumpkin someday I might be rich, and people like me better watch their step!

  • MARK JASON

    MARK JASON

    21 วันที่ผ่านมา

    🤣🤣🤣🤣🤣🤣 thats the reason why you will never touch a milli in yourlife

  • Miss Piggy

    Miss Piggy

    25 วันที่ผ่านมา

    Seriously Yes sadly.

  • alcatel😊😊😊😀☺

    alcatel😊😊😊😀☺

    28 วันที่ผ่านมา

    How much more money will it take to impress you? What if I told you that I'm in negotiations with an individual in one of the upper apartments of 147 for his 55 year lease of a piece of gum chewed by Warren Harding for $197 million dollars.

  • Slame333
    Slame3332 หลายเดือนก่อน

    This is one of the most fascinating and enthralling videos the almighty algorithm has recommended to me in quite some time. The amount of effort and research put into it is A1. Also, special shout to Ryan Serhant for now becoming one of my least favorite people I’ve never met. Yes, there’s are thousands, if not millions of other silver spoon rich while dudes just like him, but he seems like an exceptionally awful human being from his interview here.

  • sirens
    sirensหลายเดือนก่อน

    My mom used to watch this series about these estate agents and I always thought they were rich dickheads. Ryan Serhants statements in this video just confirmed that 110%

  • Meme World
    Meme World2 หลายเดือนก่อน

    I live in a private complex in London. At least 40% of the apartments are empty. It's weirdly quiet. We have floor/ceiling windows and you can see so many non furnished apartments

  • homer1075
    homer10752 หลายเดือนก่อน

    This makes me sick. Hundreds of million of dollars for these places, meanwhile the streets are filled with the homeless, crazies, and regular folks struggling to make ends meet. I'm not a commie, socialist or marxist but there has to be a better way!

  • Bryant G
    Bryant G5 หลายเดือนก่อน

    That real estate guy justified rich people's ability to game the system by listing a host of taxes that normal people also have to pay while completely ignoring the benefits the rich people have that normal people don't have access to... Rich people having to pay sales tax on their nice shit doesn't provoke any sympathy out of me...

  • A Mac

    A Mac

    2 หลายเดือนก่อน

    @Alex Banica a flat tax isn’t true equality - the only way to truly achieve equality is with equal opportunity aka progressive tax brackets

  • I zip-tied my penis to a brick

    I zip-tied my penis to a brick

    2 หลายเดือนก่อน

    Hate taxes yet y'all vote to raise em

  • Lex_xoxo

    Lex_xoxo

    2 หลายเดือนก่อน

    @arthur lee well stated sir 👏🏽👏🏽

  • obafgkmrnsxy
    obafgkmrnsxy2 หลายเดือนก่อน

    The video is very good! The part on liquidity is wrong/misleading, though (albeit unimportant for the main ideas), as it seems to confuse liquidity and store of value (both different characteristics of money). A house can be very liquid is it can be sold easily, not dependent on if it's high in a building...

  • God
    Godหลายเดือนก่อน

    i'm kinda torn between being disgusted by this level of opulence and the marvel of engineering that went into making these buildings. it may actually be beneficial in the end in terms of creating homes for the masses using creative techniques. reminds of of the space programs and how some people criticize how much money is spent on them while there are issues to deal with on earth. yet a lot of good science and progress come out of those programs that help humanity.

  • will troyer
    will troyer2 หลายเดือนก่อน

    wish I could like this video a million times. this is what all journalism should look like. exceptional video

  • LovingAtlanta
    LovingAtlanta2 หลายเดือนก่อน

    😱It is terrifying (for me) to think about living in one of those tall & slender buildings. 😱

  • R023 G0ld
    R023 G0ld4 หลายเดือนก่อน

    I live in Melbourne and definitely have felt this, in my building there are easily 200-300 apartments, but given the amount of neighbours I've encountered and mailboxes I've seen empty, I think no more than 100 are occupied. At one point for almost a month my roommates and I realised we were the only occupied apartment in our entire level

  • Cheepchipsable

    Cheepchipsable

    12 วันที่ผ่านมา

    Are you sure many of those apartments weren't owned by overseas investors? Many SE Asian companies/families buy off-the-plan apartments for their kids to live in when they study in Australia. Not many students coming in ATM.

  • Adriana Campos

    Adriana Campos

    2 หลายเดือนก่อน

    Isn't that normal though? Like finding an all full apartment building is sad

  • James Jameson

    James Jameson

    2 หลายเดือนก่อน

    That's a good thing

  • damosil80

    damosil80

    2 หลายเดือนก่อน

    @Yuck Foutube only an American would make a comment like that. Melbourne isn’t just a city in Florida it is a major city in Australia…

  • Grumpy Mustard

    Grumpy Mustard

    2 หลายเดือนก่อน

    Similar thing in Toronto, so many empty apartments are owned by people from another country as an investment.

  • Surf Earth
    Surf Earth2 หลายเดือนก่อน

    My dad used to say: “I love the city, because everyone else lives there and I don’t”. So true.

  • Vyzzle
    Vyzzle26 วันที่ผ่านมา

    "Tenants in Queens are susceptible to increases in rent that are practically for all intents and purposes an eviction, and I think it's very important that we take a moment to underline that evictions are violence."

  • richardscathouse

    richardscathouse

    16 วันที่ผ่านมา

    If I were still trying to rent i'd be in the streets. I'm disabled on social security. But years ago I bought my condo at a foreclosure sale and only pay $550 a monthe morgatage. And prop13 keeps my taxes pinned at a grand a year. Meanwhile one bdrm rentals are near $2000 and no tax breaks whatsoever.

  • richardscathouse

    richardscathouse

    16 วันที่ผ่านมา

    That's why you buy a condo. That and numerous other tax advantages.

  • Starhealer
    Starhealer2 หลายเดือนก่อน

    America: Where we have more than enough room and space for everyone, but we insist on not providing basic services to the people who need it the most while offering an over-abundance for those who need it the least.

  • Alex
    Alex2 หลายเดือนก่อน

    Very well done and super informative! Thanks so much for the great content!

  • Fred Stanley
    Fred Stanley5 หลายเดือนก่อน

    I like how the rich dude listed a bunch of taxes that literally everyone pays.

  • BravoCharlie

    BravoCharlie

    หลายเดือนก่อน

    "...isted a bunch of taxes that literally everyone pays." ??? Actually, No. You missed the point about Real Estate Taxes 22:20 (as little as Zero or "$157"). Capital Gains Tax? Zero (I know why). Income Tax? Zero, Income is NOT what they earn...

  • FrigginOutOfBlue

    FrigginOutOfBlue

    หลายเดือนก่อน

    And most rich people do their best to get exempts from, just like with these buildings

  • John Kisch

    John Kisch

    หลายเดือนก่อน

    He is rich because he doesnt pay taxes. Facts

  • Cârroux

    Cârroux

    หลายเดือนก่อน

    Exactly what I thought as well..-

  • navidski
    navidski2 หลายเดือนก่อน

    Frankly, these slender, slim, straight up in the air towers look neither aesthetically nice, nor very inspiring. They’ll be the ugly concrete blocks of tomorrow. No comparison to an iconic empire estate or Chrysler building

  • Jane G
    Jane G2 หลายเดือนก่อน

    I live in a 56 fl highrise in Los Angeles and when it’s windy, the elevators are programmed to run extremely slow😬 freaks me out every time. Ironically, Im scared of elevators. So that “faulty elevators” suit makes it not worth living there😳

  • Micaela Leroux Burch
    Micaela Leroux Burch3 วันที่ผ่านมา

    Imagine buying a place on billionaires row and you get one on the lowest floor possible (I bet there aren’t any that go right out to the street or are just above the street, but there is a “first” floor apartment)

  • M Vallance
    M Vallance2 หลายเดือนก่อน

    This is fantastic documentary production, thoroughly interesting!

  • Joe
    Joe5 หลายเดือนก่อน

    As cool and well engineered as these buildings are, what they represent really lay bare the glaring problems with human society. If someone can buy a penthouse in NYC for 170 million just as an asset meanwhile people on the street can barely afford to get by you know something is seriously wrong with us.

  • Samuel Park

    Samuel Park

    12 วันที่ผ่านมา

    It's cruel for sure, but it's just simply a fact of life that individuals are born with significant differences in intelligence, work ethic, luck, emotional stability, and more. There's nothing "wrong" with that. It's harsh, but not "wrong".

  • Todd Lavigne

    Todd Lavigne

    4 หลายเดือนก่อน

    apparently 432 Park Ave. groans at a high level on windy days, so much it's difficult to sleep. The elevators stops as well. Bunch of other problems have been reported. A class action lawsuit is going after the developer and builders.

  • SkylarkingsRS
    SkylarkingsRS25 วันที่ผ่านมา

    this 30 minute video makes me realise that in another few generations time, human wealth distribution, how we look at opinions, moral coding and ethics etc will all be fully wiped out. its 99 of the money owned by 1% at the moment, and as said in the video when questioning the moralities of wealth ownership, in this example the inability to share the numbers of unoccupied apartments, shows how much that 1% have power wise. as the world grows further and the stats keeps getting more extreme, that 1% will then stretch the poorer millionaires out of money and it becomes 0.1% own 99.9% of the wealth, and after that, well youve all seen the russian oligarchs and the problems it causes. not just with money, but as mentioned, the moral ethics behind how the ultra rich use their wealth. theres gotta be a ceiling at some point or humanity isnt going to survive

  • yonkers87
    yonkers87หลายเดือนก่อน

    Excellent video and analysis. I have been a new Yorker since I came from Italia years ago And I’ve learned to love this city and it has become part of me. However since those great years of Giuliani and Bloomberg things have gone downhill. I feel strongly that the pencil buildings the masquerade as homes Are detrimental to the life of New York. The skyline is no longer a classic one, but one of Very tall and skinny sticks there are more of an anorexic architecture. New York always had wonderful buildings in architecture they were more harmonious with the city in the street than most other cities. Now this is all changing. In general the skyscraper has become a joke, Ridiculously tall. Just look at the buildings that are going up in the middle east. They really make no sense. It’s so is the buildings on billionaires row. I understand the financial logic as explained in the video, but there’s something grotesque about this whole building concept. It’s simply garbage

  • Alexander J
    Alexander J2 หลายเดือนก่อน

    The production of this video is so great! I really enjoyed watching.

  • Astral Panda
    Astral Panda2 หลายเดือนก่อน

    Theory before watching: They are empty because they cost so much thus keeping the value of the building high. If they were to be sold out on a cheaper price, it would decrease the value of the whole building. So by keeping it half empty and selling out slowly (compared to selling it out fast but cheaper) the value of the building remains high and more money can be made.

  • Martell
    Martell4 หลายเดือนก่อน

    This reminds of an interesting article in the German constitution: "Property entails obligations." This means for example that you have to take care of your house, but also that you can't divert something from it's intended use. In some German cities, this means that you're not allowed to leave a home vacant for longer than 6 months without good reason, because having a home sit vacant, diverts it from it's intended use, which is housing people. I think legislation like this being commonplace would solve a lot of housing issues. Also, imho these billionaire's row tower are kinda ugly and don't fit into the New York skyline at all.

  • Cheepchipsable

    Cheepchipsable

    12 วันที่ผ่านมา

    Well there is only so much land to go around, especially in Germany.

  • Rafael Mocochinski Freitas

    Rafael Mocochinski Freitas

    หลายเดือนก่อน

    @iiro siren it's called urbanism.

  • ffsmma

    ffsmma

    หลายเดือนก่อน

    We have the same thing in a small number of places in Norway aswell. The law surrounding it is abit to complicated for me, as there are 100s of empty houses that have no such regulations, but others that get notices from the City about forced sale of the house if no one moves in. Like I said, I don't understand it enough to go into it.

  • DeLaRafi

    DeLaRafi

    หลายเดือนก่อน

    @Nonameanymore i don't think its stupid if it solved the issue.

  • Darrin Nunyah
    Darrin Nunyahหลายเดือนก่อน

    I am a mountain climber, and Ive climbed most of the 4000 meter (13K feet) mountains in the North American continent. Yet, the thought of living in a tall, slender building in NYC gives me pause. I guess I trust nature's engineering more than theirs. Crowds also give me a bit of anxiety, so there's that too.

  • Oli
    Oli2 หลายเดือนก่อน

    I love looking at the engineering but the wealth inequality makes me feel so nauseous

  • Oleksandr Byelyenko
    Oleksandr Byelyenkoหลายเดือนก่อน

    While talking to my History of Art teacher about architecture, he said that the structure has to have a meaning, it is a place for something. Based on that my question is: so the apartment is made for living and if no-one lives in an apartment does it count as such? Is it even an architecture, if the space isn't used as it was built for?

  • RebornKingofThule

    RebornKingofThule

    หลายเดือนก่อน

    They euphemistically it an investment vehicle

  • RebornKingofThule

    RebornKingofThule

    หลายเดือนก่อน

    Come to $PLx stick it too em

  • Kevin Nguyen
    Kevin Nguyen17 วันที่ผ่านมา

    Human cannot defy physics. I've been up to high rises with those dampers and I can still feel the "sway." Tall buildings sway just a "few" meters.

  • khanfauji7
    khanfauji74 หลายเดือนก่อน

    Turning homes into investment tools that local and foreign investors can speculate in to hedge against inflation has been the biggest driver of unaffordable housing.

  • Mr. Reinterpret Cast

    Mr. Reinterpret Cast

    12 วันที่ผ่านมา

    @Cheepchipsable No, it can't . The majoiity of the network would agree on doing that, and it will never happen.

  • Cheepchipsable

    Cheepchipsable

    12 วันที่ผ่านมา

    @Mr. Reinterpret Cast How is bitcoin scarce? The number of coins could be increased tomorrow.

  • WeeabooMan

    WeeabooMan

    3 หลายเดือนก่อน

    @Magnus Anderson Those zoning laws exist precisely because the rich can lobby the government to create them. What happened to government "for the people."?

  • furyofbongos
    furyofbongos2 หลายเดือนก่อน

    No issues with billionaires buying expensive thin tower apartments. I have BIG issues with companies like Blackrock buying up single family homes and renting them out, pricing out first time home buyers and destroying neighborhoods. They also treat their tenants worse than anyone.

  • hoherspatz

    hoherspatz

    20 วันที่ผ่านมา

    The same forces that are buying up single homes in America are the same forces that are pricing New Yorkers outta the housing market today. BlackRock is an asset management firm after all and they mostly buy these houses on behalf on large institutional investors, pension funds and sovereign wealth funds that want to maximize their capital gains on these investments. As a consequence, more and more income has to be spent on overpriced healthcare, privatized infrastructure and inflated housing prices. So, you end up with a high-priced economy, that cannot compete with the likes of China or Europe, where basic necessities for economic activity like infrastructure are provided for free or at subsidized cost. America has moved from industrialization to financialization and its economy has become a tollbooth opportunity for wall street.

  • James Piazza
    James Piazza2 หลายเดือนก่อน

    "Is this great architecture or capitalist ambition? Can those be the same thing? Is that the very essence of New York?" Love this❤

  • Fart

    Fart

    2 หลายเดือนก่อน

    This doesn’t mean a damn thing

  • DAVID CAMPBELL
    DAVID CAMPBELL2 หลายเดือนก่อน

    I own a holiday apartment in Spain my appt is on the 5th floor the entire building is 6 floors. If on occasions it is very windy the noise is very loud and can be difficult to get to sleep over 15 yrs the noise has been a problem on about 7 or 8 times. The idea of an apartment as high as you have talked about would be way way too high for me.

  • Lunchguy
    Lunchguy2 วันที่ผ่านมา

    21:27 This moment felt like it was straight out of an early 2000s episode of The Simpsons.

  • Michael McDermott
    Michael McDermott4 หลายเดือนก่อน

    Usually I don't mind people bearing the fruits of capitalism and making a lot of money, but the sheer magnitude of wealth that we have seen in recent years and the exploitation used to get to that point makes me physically sick. Billionaires row seems like a giant gaudy monument to the sick underbelly of the U.S. economy and those who profit from it.

  • Chris

    Chris

    3 หลายเดือนก่อน

    That's the thing about capitalism. The idea seems fine to some but as a system it's doomed to spiral downwards until it collapses. We are living in late stage capitalism right now, where all of the issues have been exaggerated to a breaking point. The exploitation of the working class, the global money pool of the rich, nationalism, lack of resources caused by inconsiderate use and extraction of that was left unchecked for profit. The issue now is that we have no more continents to discover, civilizations to colonize, empires to build. We are heading towards a second dark age. Medieval Europe looked pretty similar and only crawled out of its filth through planting itself in the americas and the east/south. Now those countries have been used for their resources and left in 3rd world states or (sometimes recovering) dictatorships slowly trying to reinstate themselves in the capitalist global scene. Theres not much left to turn to within the parameters of capitalism and its inherent requirements.

  • chang yang

    chang yang

    3 หลายเดือนก่อน

    @Phobos 21 The problem is that we don’t benefit from it.

  • Phobos 21

    Phobos 21

    3 หลายเดือนก่อน

    @Queens Rule why you so sure I use spellcheck? And maybe next time tell me thanks for letting you feel superior at least at something. Also lets see how you spell in 3 other languages I speak

  • Queens Rule

    Queens Rule

    3 หลายเดือนก่อน

    @Phobos 21 One would suggest another review of your reply as it contains some spelling errors. The little red squiggly line that appears under a term is telling you something. Listen.

  • Mr.E
    Mr.E26 วันที่ผ่านมา

    Very well explained. Great content as always. 👍

  • ImABich
    ImABich2 หลายเดือนก่อน

    23:30 ...So he's aware of the issue yet advocates for the downfall of every poor and middle class individual. What a good dude.

  • Vark R
    Vark Rหลายเดือนก่อน

    It's kind of weird seeing new yorkers protest against second homes when half the houses in my southern town are owned by middle class new yorkers who buy them all up and rent them out or turn to air bnbs. A new yorker earning 100k a year can always out bid a native who makes 35k a year on average.

  • Cheepchipsable

    Cheepchipsable

    12 วันที่ผ่านมา

    Millions of people live in NY. Do you think those protesting owned 2 homes?

  • Rasler*King

    Rasler*King

    29 วันที่ผ่านมา

    That is bloody true, in South Africa it is the same

  • LeCrenn
    LeCrennหลายเดือนก่อน

    Well done. Excellent analysis of a mind boggling phenomenon.

  • crabless in baltimore
    crabless in baltimore3 หลายเดือนก่อน

    *imagine if we tried explaining to aliens that we have many, many empty buildings but millions of people are still homeless because some properties are too valuable to live in*

  • ForceField9

    ForceField9

    หลายเดือนก่อน

    @Mr. chicano what about her?

  • Mr. chicano

    Mr. chicano

    หลายเดือนก่อน

    @ForceField9 what about the mom who can't afford rent cuz babysitting fees are so high due to insurance rates? Hmm genius?

  • ANNA KENDRICK
    ANNA KENDRICK11 วันที่ผ่านมา

    Great content. I plan to retire at 55 with $3MILLION in savings and a few passive income sources, I'm currently 38 and although I started investing this year I have high hopes for the future. Any idea on how to invest in stocks or crypto?

  • Oloruntimilehin Taiwo Rebecca

    Oloruntimilehin Taiwo Rebecca

    11 วันที่ผ่านมา

    she taught me how to invest in bitcoin, how to trade daily, when to trade and the best asset to trade, and honestly I don't regret the move I made because I invested in a big way.

  • Oloruntimilehin Taiwo Rebecca

    Oloruntimilehin Taiwo Rebecca

    11 วันที่ผ่านมา

    04649

  • Oloruntimilehin Taiwo Rebecca

    Oloruntimilehin Taiwo Rebecca

    11 วันที่ผ่านมา

    + 135190

  • Oloruntimilehin Taiwo Rebecca

    Oloruntimilehin Taiwo Rebecca

    11 วันที่ผ่านมา

    @st Her availability is on W/A for easy access tell her i refered you

  • Cristian Florin
    Cristian Florinวันที่ผ่านมา

    Curious how many of these thin towers would still stand safely after a 7 degree earthquake 😅

  • Cvexreos
    Cvexreos2 หลายเดือนก่อน

    Why New York’s Billionaires’ Row Is Half Empty Answer: Because there aren't enough billionaires.

  • ichigo kurosaki

    ichigo kurosaki

    3 วันที่ผ่านมา

    Billionaires children and their grandchildren will just multiply this number of billionaires XD

  • Dan Davis

    Dan Davis

    หลายเดือนก่อน

    Yet.

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