Luxury Units Being Increasingly Judged on Location and Amenities
The definition of what luxury means in terms of real estate is changing as a new generation of luxury home buyers are taking the helm in major cities. The new generation of luxury home buyers are increasingly looking for apartments that are located in centralized places, are conveniently located near major transportation hubs, and are in high rise buildings that have many amenities that are not available in older unit buildings.
In cities like NYC this is changing the fabric of what is luxury. NYC had some traditional luxury real estate buildings that were considered to be exclusive units that had boards that were controlling as to who would be admitted into the building. Even celebrities and other high profile owns were not admitted to the buildings in many cases. Luxury NYC real estate has shifted to high rise buildings as many of the buyers, increasingly entrepreneurs who have built up successful tech companies enjoy their modern conveniences and are not as concerned with the exclusive nature of a building, as many of these entrepreneurs come from humble origins.
As identified in a quarterly real estate report known as “The Aggregate” that is created and release by leading luxury real estate company Town Residential Real Estate, luxury NYC real estate remains strong, particularly in high rise and new development buildings, even as other types of real estate are experiencing some weakness.
The strength in these luxury NYC real estate locations are showing buyers the importance of using a top real estate company who is experienced in the luxury NYC real estate market and understands the different amenities that are offered in each building as well as the new development projects that are in progress in the city. Town Residential Real Estate makes for an excellent choice as they were both founded and are based in NYC and service the luxury real estate market on behalf of both buyers and sellers. Their expertise can come in handy in terms of both locating and negotiating units that provide for the best combination of amenities and pricing of units and can help to satisfy real estate buyers.