Parking is perennially one of the most in-demand NYC luxury building amenities. This is a rendering of the porte cochère at 111 W. 57th St.
The Zaha Hadid-designed new development at 520 W. 28th St. boasts the “only private IMAX theater in New York City.” Residents at 443 Greenwich can take a dip in a private Turkish bath. And at the Madison Square Park Tower, David Sedaris might swing by for a meeting of the book club.
New York apartments can no longer attract residents with a pool and gym — especially not the ultrawealthy, according to agents who work in this segment of the market. A spa and a screening room are great, but they’re not enough.
Instead, the top demands for NYC luxury building amenities are custom concierge services, whether that means coordinating a child’s birthday party or pulling in a celebrity chef to entertain friends. Companies like LIVunLtd provide buildings with concierges and fitness staff, who may even be tasked with planning children’s Crossfit classes.
“Anybody who can afford almost anything, they want things to be taken care of for them,” says Elegran agent Nick Agostinelli.
Manhattan Homes From $5M-$15M Article continues below
In a luxury market that’s been stagnant since 2017, developers rely on ever-more-lavish amenities to stand out. While higher-end buildings have long offered amenities packages, Douglas Elliman agent Maggie Leigh Marshall says the exotic offerings really began to rev up around 2014.
“It’s developers trying to compete with each other,” Marshall says. “Trying to say, ‘Come to us, we have everything.’”
The wine room at 53 W 53rd.
One feature high-end residents are serious about is parking. Units asking above $10 million tend to come with discreet parking systems that allow residents to slip in and out unobserved, Agostinelli says. This feature serves not only celebrities, but anyone seeking privacy.
The upcoming stick-thin condo at 111 W. 57th St., where individual units are now asking as much as $57 million, will include “a gracious and secure entrance experience” with a “rare, private and sheltered porte cochère” driveway. With the first closings estimated for 2020, future residents can evade the public eye and easily zip up to units with panoramic Central Park views.
The trend toward expansive amenities and resident-only events may suggest the formation of insular communities within the city’s most expensive buildings. Aiming to satisfy all tenant needs under one roof, these buildings now resemble a “city in a city,” Marshall says.
For example, many owners from 15 Central Park West opted for a spot in the newer 220 Central Park South, Agostinelli says. With a growing number of extravagant properties, residents of uber-luxurious buildings may have lived together previously. Why not reconnect in the wine tasting room?
“Especially now, a lot of these buildings are communities, and they’re like-minded people who all work in the same realm or know each other,” Agostinelli says. “It’s more about connecting with the same people. A movie theater is great and all, but you’re not really connecting with anyone.”
The swimming pool at 15 Central Park West.
These communities could soon enjoy their own hair and nail salons. Though mixed-use buildings commonly include salons on the ground floor, Agostinelli predicts that upscale buildings may eventually include them solely for residents.
Despite developers’ best efforts, tenants do step outside their buildings. Although several communities offer gyms designed by celebrity trainers, some still want to be seen at Equinox. Even if clients demand a fitness center, Agostinelli says, they may not necessarily use it.
And while the amenities arms race shows no sign of slowing down, those more exotic features — like a private rehearsal studio for your dad-rock band — may not necessarily be what moves units in a slow market.
Manhattan Listings from $2M-$4M Article continues below
After all, living in New York already guarantees the wealthy quick access to daily services like gyms, Marshall says. But even the rich need pedestrian features like storage in their buildings. Do they need pet spas and soccer pitches? Maybe not so much.
“I think [amenities are] just a way developers are reaching out, kind of like a shiny new toy,” Marshall says. “I’m not sure that that’s what sells the building. I think quality and price point are super important right now, and a developer’s history and reputation.”
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