Channel: Business Insider
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Why Millionaires And Celebrities All Flock To The Same Famous Buildings


$44 million 15 central park west apartment

740 Park Avenue. 15 Central Park West. The Park Imperial. One57.

Besides their extremely high listing prices, these Manhattan apartment buildings have one thing in common: celebrities and the super-rich all want to call them home.

In a documentary airing tonight on PBS called "Park Avenue: Money, Power, and the American Dream," author Michael Gross talks about how the "1 percent of the 1 percent" have always flocked to buildings such as 740 Park Avenue.

"Birds of a feather flock together," Gross says.

Gross told Business Insider that the super-rich find comfort in being around other millionaires and billionaires. Established residential areas like the Upper East Side are also known for their schools, whereas schools in up-and-coming neighborhoods like TriBeCa may suffer from overcrowding.

Want proof that the rich and famous are all living in the same handful of buildings? Just look at their rosters.

In the days before the Great Depression, 740 Park was home to oil tycoons. Now, moguls like Steve Schwarzman and David Koch call the building home.

Russian billionaire Dmitry Rybolovlev recently dropped $88 million on an apartment for his daughter at 15 Central Park West. Designer Vera Wang, Goldman Sachs CEO Lloyd Blankfein, and Bob Costas also live there. One57 is also receiving a mass amount of foreign buyers.

The Park Imperial building has more of a celebrity crowd, including P. Diddy, Christoper Meloni of "Law & Order," and Deepak Chopra.

"If you can afford the best, why not have it?" Gross said.

Now see who lives inside 15 Central Park West >

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