Manhattan's almost-completed 432 Park Avenue is already known for its slender design, and its status as the tallest residential building in the northern-hemisphere - but it is not actually on Park Avenue.

The main entrance is located on 56th Street, and is about 150 feet from Park Avenue. The developers purchased what is known as a "vanity address" - paying the city of New York $11,000 to allow it to use the address on the exclusive boulevard, even though it doesn't correspond with the building's entrance.

Vanity Fair offer a virtual tour of the property 

New York property experts told Bloomberg that a Park Av. address is likely to increase the value of a property by between five and 10 percent.

432 Park Avenue has already made headlines for the cost of its apartments - the cheapest are priced at almost €14m.

The buying of exclusive addresses is a relatively common practice in the city - particularly around Times Square - where many buildings in the vicinity of the landmark crossroads buy 'Times Square' addresses.

New York City documents regarding vanity addresses state that a building, "must avoid creating confusion as to a building's location," when applying for an address that does not correspond to the main entrance to the building. 

432 Park Avenue benefits from the fact that part of the property touches Park Avenue.