Several of these buildings are in the supertall category, taller than 1,000 feet (300 m), and are among the tallest buildings in the world. Since most of these pencil towers are on 57th Street, the term can refer to this street, too.
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The stretch of buildings on 57th Street between Park Avenue and Broadway, also known as “Billionaire's Belt” or “Billionaire's Row,” has been attracting billionaires and celebrities from all over the world since the early 2000s.
New York's Fifth Avenue has reclaimed its position as the world's most expensive retail street, with average rents of USD2,000 per square foot (sq ft) per year (€21,076/sq m/yr) according to a new global ranking from real estate services firm Cushman & Wakefield.