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Demand for luxury residences goes sky-high in New York

When architect Ralph Walker designed his office tower for the New York Telephone Company in the 1920s, it was unlikely he envisioned his art deco skyscraper in downtown Manhattan as a place that the wealthy called home.
Walker Tower is one of a number of buildings in New York City that has been converted, or built from scratch, into luxury residences over the past two years in response to growing demand from deeppocketed Americans and foreign investors seeking stable investments.

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