I don´t subscribe to this theory. Prices and rents for apartments are closely connected with the land on which they are built. If the land prices rise, apartment prices will rise too. And land prices rise when the demand for land rises because the supply stays unchanged, for instance in Manhattan.
google .wikipedia ).
Actually those luxury towers raise the supply of luxury apartments by transferring air space into flats. This could save Manhattan from the development experienced in London where the demand from the super rich like hedge fund managers, Russian oil tycoons and sheiks from Near East drive land prices & rents up to the sky.