A really important point: > The group commissioned SBI Consultants, an engineering firm, to study mechanical and structural issues. Initial findings showed tha

A really important point: > The group commissioned SBI Consultants, an engineering firm, to study mechanical and structural issues. Initial findings showed that 73 percent of mechanical, electrical and plumbing components observed failed to conform with the developers’ drawings, and that almost a quarter “presented actual life safety issues,” Mr. Slinin wrote. Corruption exists at every level. The builder (as suggested by the above quote) skimped to increase their profit margins. These ultra-luxury NYC supertalls do not pay their fair share of property tax (as a percentage of price). Cities allow substandard buildings to be built (eg [1][2] not being drilled into bedrock). The city is allowing buildings to be built that are really too skinny (eg [3]). Real estate in major cities is driven by money laundering [4]. Real estate is exempt from a lot of foreign asset reporting like FATCA. All this while we're having a housing and affordability crisis pretty much everywhere. These supertall and skinny buildings just shouldn't be built. If you can't secure enough land to a decent base to go that high well that's your problem. Housing for the ultra-wealthy really needs to be taxed at probably 10x the current rate too. [1]: https://boingboing.net/2022/12/30/not-to-be-outdone-manhattan-has-a-leaning-skyscraper-full-of-multimillion-dollar-condos-too.html https://boingboing.net/2022/12/30/not-to-be-outdone-manhatta... [2]: https://sf.curbed.com/2016/9/16/12945600/why-millennium-tower-sinking https://sf.curbed.com/2016/9/16/12945600/why-millennium-towe... [3]: https://hyperallergic.com/724360/nyc-skyscraper-is-being-compared-to-a-coffee-stirrer/ https://hyperallergic.com/724360/nyc-skyscraper-is-being-com... [4]: https://gfintegrity.org/press-release/new-report-finds-u-s-real-estate-sector-a-safe-haven-for-money-laundering/ https://gfintegrity.org/press-release/new-report-finds-u-s-r...