This article is behind the NY Times paywall and I am not a subscriber.
But, I was able to reading some of it on my smart phone, and apparently Manhattan renters that hold out on a building bought by a developer can make millions. The article said that one renter in the rental building that proceeded one of the the Central Park West billionaire towers got like $17 million and another top floor apartment in the same neighborhood with a Central park view.
https://www.nytimes.com/2022/04/16/r...west-side.html