.cliomiso spoke with a contractor who does luxury architectural work to get a sense of the job (“Sometimes you’ve got to shut down Fifth Avenue and hire a crane”) and the clientele (“bad taste but tons of money”)
Photo-Illustration: Curbed; Photo: Dreet Production/Getty Images/Cavan Images RF In New York City, luxury real estate is as much a vehicle to hide one’s wealth as it is to flaunt it. Recently, such properties have come under new scrutiny as city officials call for seizing the apartments of known Russian oligarchs.
With celebrities, you might know it’s their place — it’s rumored — but you don’t ever see them. But for oligarchs owning real estate done through shell companies, you would never know who it is. These types of build-outs or investments are just parking money somewhere. Maybe the developers themselves will have a relationship with the end client, but I don’t know.
A not unusual practice is building stuff that will pass inspection only to be removed after it’s given a certificate of occupancy. For example, there’s lots of rules about stairs, like code around open gaps between balusters on railings. Frequently, they want a big wide-open railing, so we’ll build a railing that is filled in, and after inspection, it comes out.
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