Band of billionaires: NYC to outpace London as go-to destination for the super-rich  - See more at: http://therealdeal.com/blog/2015/04/14/band-of-billionaires-nyc-to-outpace-london-as-go-to-destination-for-the-super-rich/#sthash.tFsDdUBq.dpuf

 

By 2025 NYC will have the highest number of billionaires in residence.  While there are good things this brings to NYC, there is a real concern that  too many super-luxe $100 million properties are being developed with not enough buyer demand for that level.  Many buyers here want smaller, more affordable units. and property they can take possession of  right away ,and not wait for a new project to be completed.  What will developers do?

 

Read the entire article at The Real Deal.