Sick of fake new york luxury apartments? Identify Winners
If you’re not sure how to tell if New York luxury apartments are truly worth your money, this article will help you distinguish the legitimate luxury units from the poorly built ones. I’ll go over what a really makes a building luxury, what green and red flags you should look out for, and answer a few luxury building FAQs.
You’ve probably seen these cheaply built “luxury” apartment units popping up all over New York. They’ll look beautiful, but how can you know they’re legit and not a just an aesthetically appealing modern tenement? With hundreds of modern-looking new developments advertising themselves as luxury, distinguishing what’s actually worth your money can be a challenge. This article is meant to help you navigate the difference between luxury units and luxury marketing tactics slapped onto cheap, poorly built apartments.
What defines a luxury building?
There is no dictionary definition of luxury - it means different things to different people. However, if an apartment is billing itself as a luxury building, it better truly be a cut above the other inventory. Luxury buildings should have full staffs, high end fixtures, stunning views, and generous amenities such as pools fitness centers and spas.
Does it make sense to live in New York Luxury Apartments?
If networking, hosting, high end amenities, and design are all important to you, it absolutely makes sense to live in a luxury apartment. These buildings are full of comforts that elevate the day to day lives of their residents. Luxury apartment buildings cater to A-listers and titans of industry, and the buildings themselves foster a sense of community among those who live there.
What is a luxury apartment called?
Luxury apartments can go by many different names:
Penthouse: Usually, but not always, the top floor unit of a high rise building.
High Rise: The term high rise is usually associated with newer construction, and most newer construction has catered to the luxury market as developers try to keep pace with rising costs.
Loft: Lofts are characterized by higher ceilings, industrial vibes, and spacious, airy interiors. They typically are found downtown and take up the full floor in an older building - however, their popularity has inspired some newer high rise developments, like the Selene, to dedicate some space to loft like units.
High End Condominium: Pretty much everything build in the 2000s is a condominium rather than a cooperative. Newer builds are generally higher end, so people often associate condominiums with luxury.
Indicators of True New York Luxury apartments
Amenities
The building should have ample amenities. These are exclusive spaces and perks provided to residents living in the high end condominium.
Here are some amenities I’ve seen in luxury apartment buildings in New York:
Fitness Centers: Your friends are layering up and trudging through the snow to get to their crowded gyms and wait patiently for their turn on the machines. You are getting up, throwing on a pair of shorts and taking the elevator to your well equipped, practically empty, windowed fitness center - where you’ll get your reps in before work while looking at the beautiful NY skyline.
Child Play Rooms: Keep your kids safe by keeping them close to home. They’re sliding down slides, jumping rope and solving puzzles with the nanny in your building’s child play room.
Indoor or Outdoor Swimming Pool: On those oppressively hot NYC days, your friends are camped out in front of their AC units. You’re lounging by your outdoor pool, reading a good book and taking dips to cool down.
Wine Cellar: Nothing impresses at a party like telling your guests you’ll be right back from the wine cellar and appearing with a bottle of Chateau Margaux.
Squash Court: Want to make a connection with the titan of industry that lives down your hall? Invite them to a friendly game of squash.
Saunas, Steam Rooms and Spas: Stressful day at the office? Relax and rejuvenate in your buildings spa and tranquility rooms.
Private Theatre: Take Netflix and Chill to a whole new level but reserving your building’s private movie theatre for date night.
Basketball Court: Get close to other residents by participating in the pick up games your building organizes.
Cold Plunge Pool: Experts say there are tons of health benefits of ice baths, and some luxury buildings go the extra mile by providing cold plunge pools.
Golf Simulator: Even though NYC lacks golf courses, residents in luxury buildings can still practice their swing in rooms dedicated to the game.
Roof Deck: Impress all your friends with your grilling skills. Host a BBQ on your building’s gorgeous roof deck.
Concierge: Let someone else handle the minutia - have the on site concierge schedule reservations, reserve event space and buy theatre tickets.
Full Staffs
Higher end buildings employ a full suite of staff members to keep the building safe and clean, schedule activities, and generally make the lives of the residents as stress free as possible.
Design
The exteriors in truly luxurious buildings are designed by world renowned architects, and the building’s interiors are curated by award winning interior designers. They should have been designed with the most discerning of consumers in mind.
High End Appliances
Luxury apartments in high end buildings should boast top of the line, chef’s quality appliances.
Look for the following brands high-end appliance brands when luxury apartment hunting:
Miele
Gaggenau
Miele and Gaggenau are two German manufacturers of high-end home equipement. They are considered some of the world's leading brands in luxury appliances.
High Quality Natural Materials
High quality natural stone is always a good sign, and large building will have large, high-end slabs of rock imported in from around the globe.
Look for Marble: This material is natural, extremely expensive and high end.
The Bigger the Better: Larger, continuous slabs are the most expensive and luxurious. Check to make sure important pieces of stone are one whole piece. For example, the bathtubs at 130 Williams street are constructed out of one giant slab of marble. Now that is high end.
Likewise, natural wood is also preferable.
High Quality Wood Species: Look for oak, birch, mahogany, teak or other high quality wood species.
Solid & Natural: Make sure that the wood finishes are made of solid material and not plywood with a natural veneer.
Developers with a good reputations
Many luxury buildings are put up by developers with a long and established track record in New York City. Your real estate agent will know the top tier developers and steer you in the right direction. If you don’t have a realtor, you can always reach out to ask me about a developer.
Red flags to watch out for
Suspiciously high Number of Resales
Tons of apartments in a brand new building already back on the market? This might be a sign that there’s something not quite right about the building.
Cheaper Appliances
Some developers might try to get away with mid-tier appliances. There’s nothing wrong with these brands; they just aren’t luxury, and a developer that is trying to save some money on appliances may be cutting corners elsewhere.
Watch out if you see any of the following appliances:
Bosch
Whirlpool
Artificial Stone or Wood Details
Man made materials are cheaper than natural ones - even if they might hold up better to wear and tear.
Cheap Stone Materials: Make sure your “stone” countertops are not some cheaper material like porcelain. Certain man-made materials like quartz or Caesarstone will look nice and potentially be easier to maintain, so you may prefer them over their more expensive marble counterparts. Just be aware they are less expensive.
Split-Up Marble Slabs: It is much cheaper to combine two pieces of marble than it is to create a counter top or a bathtub from one solid piece.
Cheep Wood Materials: Plywood with a natural veneer, or vinyl/engineered hardwood flooring might look OK, but it’s substantially cheaper than solid hardwood. And you won’t be able to refinish it as easily if it were to get scuffed.
FAQ
luxury apartment buildings new york
What is a high-end apartment?
High end apartments are usually newer construction. Units have large windows and high end fixtures. Some high end apartments - especially downtown - are lofts in older buildings with high ceilings, lots of space and open floor plans.
Why are luxury apartments so expensive?
Developers and designers craft luxury apartments with the highest quality material. Sometimes luxury buildings are packed with cutting edge amenities and often they are in prime locations. Either way, these apartments justifiably attract a large number home buyers and can demand top prices.
What is the difference between luxury and ultra luxury apartments?
Luxury apartments generally start at around $2,000 per square foot. Ultra luxury apartments command higher prices and can sell for upwards of $6,000 a square foot. Many ultra luxury apartment buildings in Manhattan can be found close to Central Park on Billionaire’s Row where the views of the park push the price per square foot into the stratosphere.
What is the difference between premium and luxury apartments?
These are both marketing terms and there is really no difference between premium and luxury apartments. Sometimes sellers will mix up the terminology to differentiate themselves.
An expert’s eye can make all the difference
There’s a lot of research that goes into knowing for sure whether a luxury apartment unit is really worth your money. If you want to be sure you’re buying luxury, you should talk to a luxury property expert.
If you want to take advantage of more of my insider secrets as you look for your new home, be sure to download my FREE Ultimate Buyer’s Guide.
I would also love to personally support you in your home buying journey, and am always available for FREE phone consultations to answer any questions you might have before taking the leap. Just reach out to me by filling out my contact form to get started.
