Despite what people mutter about real estate being in a down cycle in other parts of the region, in New York City, people are spending tens of millions on jaw-dropping properties throughout the city, with record-breaking sales being logged in 2012 and even more likely in 2013 as the economy continues to recover.
New York is often referred to the Capital of the World. Holding real estate in New York is sometimes an investment, sometimes a trophy, sometimes a home, and sometimes a home-away-from-home. This is especially true when you are talking about super luxury buildings and the people who live there. “These people have multiple residences and lead a global life. They are not tied to any particular country,” Kirk Henckels, vice chairman and director of Stribling & Associates Ltd., says.
The Definition of Luxury
Super luxury buildings have separate doorman and concierge services. They have white glove uniforms and elevator operators. They deliver mail to the residence’s doorsteps. They have private dining rooms, theater screening rooms and libraries.
“The qualifier for ‘super-luxury’ varies, but many buildings are now providing hotel style service and high-end concierge companies on-site,” says Nick Jabbour, senior vice president of Nest Seekers International. “These services can include shoe-shining, in house valet and cleaning services, assistance with booking trips, restaurants and theater tickets, and handling nearly any request. Buildings are increasingly featuring in-house spas and other pampering services as well.”
For example, 15 Central Park West offers a full restaurant for the residents exclusively, and the Trump International Hotel and Tower at 1 Central Park West allows residents to order from Jean-Georges, situated on the ground level. The ultimate luxury, though, remains a view of Central Park.