{"id":11919,"date":"2014-12-30T09:00:44","date_gmt":"2014-12-30T14:00:44","guid":{"rendered":"http:\/\/www.Centives.net\/S\/?p=11919"},"modified":"2014-12-30T08:06:47","modified_gmt":"2014-12-30T13:06:47","slug":"the-economics-of-vanity-addresses","status":"publish","type":"post","link":"http:\/\/www.Centives.net\/S\/2014\/the-economics-of-vanity-addresses\/","title":{"rendered":"The Economics Of Vanity Addresses"},"content":{"rendered":"<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2014\/12\/123014_1301_TheEconomic1.jpg\" alt=\"\" width=\"640\" height=\"383\" \/><\/p>\n<p>432 Park Avenue in New York City, at 426 meters, is the tallest residential building in the world. It&#8217;s become notorious for its high prices; the cheapest two bedroom unit costs $17 million. Because of this and other factors the address &#8216;432 Park Avenue&#8217; has become a buzzword in the city but people trying to find the entrance of the building are wasting their time walking along Park Avenue wrote Patrick Clark:<\/p>\n<ul>\n<li>While one of the building&#8217;s sides is on Park Avenue, the skyscraper&#8217;s main entrance is on 56<sup>th<\/sup> street.<\/li>\n<li>However an address on Park Avenue can raise a property&#8217;s price by up to 10%.<\/li>\n<li>Getting such a &#8216;vanity address&#8217; is relatively cheap, and an excellent return on investment. The government evaluates each application on a case by case basis and charges an $11,000 processing fee.<\/li>\n<li>Such vanity addresses are a particular problem on Times Square where buildings far from the Square may claim an address there.<\/li>\n<li>Inaccurate addresses can sometimes lead to tragic consequences. In 1987, in Chicago, rescue workers were unable to find a burning building in time because the building, 1 Illinois Center, was actually on East Wacker Drive.<\/li>\n<\/ul>\n<p>Read about the practice, periodic outrages about it, other popular vanity addresses, and more over <a href=\"http:\/\/bwads.businessweek.com\/articles\/2014-12-29\/vanity-addresses-like-432-park-avenue-add-confusion-to-city-navigation\">here<\/a>.<\/p>\n<p>Source: <a href=\"http:\/\/bwads.businessweek.com\/articles\/2014-12-29\/vanity-addresses-like-432-park-avenue-add-confusion-to-city-navigation\">Bloomberg<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>432 Park Avenue in New York City, at 426 meters, is the tallest residential building in the world. It&#8217;s become notorious for its high prices; the cheapest two bedroom unit costs $17 million. Because of this and other factors the address &#8216;432 Park Avenue&#8217; has become a buzzword in the city but people trying to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-bulletin"],"jetpack_featured_media_url":"http:\/\/www.Centives.net\/S\/wp-content\/uploads\/2014\/12\/123014_1301_TheEconomic1.jpg","_links":{"self":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/11919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/comments?post=11919"}],"version-history":[{"count":3,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/11919\/revisions"}],"predecessor-version":[{"id":11922,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/posts\/11919\/revisions\/11922"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media\/11918"}],"wp:attachment":[{"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/media?parent=11919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/categories?post=11919"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.Centives.net\/S\/wp-json\/wp\/v2\/tags?post=11919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}