Skyscrapers and the Skyline: Manhattan, 1895-2004

Abstract

This article investigates the market for skyscrapers in Manhattan from 1895 to 2004. Clark and Kingston (1930) have argued that extreme height is a result of profit maximization, while Helsley and Strange (2008) posit that skyscraper height can be caused, in part, by strategic interaction among builders. I provide a model for the market for building height and the number of completions, which are functions of the market fundamentals and the desire of builders to stand out in the skyline. I test this model using time series data. I find that skyscraper completions and average heights over the 20th century are consistent with profit maximization; the desire to add extra height to stand out does not appear to be a systematic determinant of building height. Copyright (c) 2010 American Real Estate and Urban Economics Association.

Transforming a tower: how did the One World Trade Center eclipse the Freedom Tower?

“…In the case of the Empire State Building for instance, financial calculations preceded and outweighed design or architectural schemes. Therefore, the height of skyscrapers built in 20th‐century Manhattan was consistent with the idea of profit maximisation which resulted in speculative tall buildings outnumbering those constructed for use purposes (Willis ; Barr ). Nonetheless, the logic of the tallest skyscrapers is often divorced from strict financial calculations that typify standard skyscrapers, and the notion of excess height is measured not only by economic parameters.…”

Skyscrapers and Skylines: New York and Chicago, 1885–2007

“…They do not analyze the broader market for height. In this vein, Barr (, ) looks at the market for height in Manhattan over the period 1895–2004. Barr () finds that there has been no upward trend in average heights over the last century; this provides evidence that, within Manhattan, ego‐driven height does not appear to be a systematic component of the skyscraper market.…”

Flying Carpets and Urban Development Trajectories

“…Sky-scrapers became the land marks of large metropolitan areas, such as, Chicago and New York since the 1890s (Barr 2010). Much of the discussion on changes in urban form has focused on horizontal transport (see Internal transport within cities and urban development), but it has often been overlooked that vertical transport must have been of equal importance.…”