5 minute read
Branded Residences In the Lap of Luxury
IN THE LAP OF LUXURY
Some of the world’s most prestigious hotel groups now offer branded residences. Elliman explores the latest offerings. by David Graver
Advertisement
TTHE WALDORF Astoria. The Ritz-Carlton. The Mandarin Oriental. Such fabled brands have built devoted followings—and for good reason. After all, who hasn’t stayed at a favorite luxury hotel and dreamt of what life would be like if you could only move in? Now you can.
Born from beloved hotel chains, branded residences are a rapidly expanding market, favored for the combination of luxury, familiarity, and fivestar amenities they offer. They dot not only the New York City landscape but the world—from the Pendry West Hollywood to The Ritz-Carlton Residences, Miami Beach and acclaimed outposts in London, Tokyo, and beyond. “The real estate industry has been witnessing
The futuristic, ultra-luxury Waldorf Astoria Residences Miami is set to become the city’s tallest tower.
The Ritz-Carlton Residences, Miami Beach offers condominiums and private villas set on seven acres of waterfront with a private marina.
Penthouses at The Ritz-Carlton Residences New York, NoMad near Madison Square Park provide sweeping views of the skyline. and leveraging the upward trend in the branded residence sector for over a decade,” according to Susan de França, president and CEO of Douglas Elliman Development Marketing (DEDM). “While this growth has been underpinned by demand from prime buyers accustomed to a five-star-hotel lifestyle, the pandemic amplified the importance of a home and the appeal of having everything at your doorstep—or, better, having everything without ever needing to leave your home.”
The full-service residence concept is ideal for nomadic buyers—or anyone looking to snap up a hassle-free pied-à-terre. “The international buyer with a strong sense of brand loyalty and desire for premium living seems particularly drawn to a branded residence environment,” de França says.
BRAND LOYALTY
“Buyers of a branded residence tend to identify with the lifestyle the brand promises to deliver,” says de França. “So, while they enjoy feeling ‘at home’ when they travel and stay at their favorite hotel brands, they also enjoy being able to incorporate the level of service and luxury they experience while traveling into their at-home lives.” In fact, DEDM’s research shows that the majority of branded residence buyers value service as much as amenities, which vary greatly from high-end healthand-wellness options to gourmet dining overseen by celebrity chefs.
For example, the Mandarin Oriental’s “vision for a fully integrated hotel lifestyle without hotel guests and with private dining experiences curated by Chef Daniel Boulud sets it in a class by itself,” de França says. At the Mandarin Oriental Residences Fifth Avenue, which features 69 private residences (and no hotel rooms or
—Susan de França, president and CEO, Douglas Elliman Development Marketing
The Four Seasons Residences Fort Lauderdale’s curved silhouette, clean lines, and white building materials honor the city’s yachting heritage.
A resident enjoys one of the pools at the Four Seasons Residences Fort Lauderdale, ringed by lounge chairs and daybeds with views of the Atlantic.
The Mandarin Oriental Residences Fifth Avenue offers the services of a legendary hotel brand without the guests. guests), owners experience turnkey living 24 hours a day, seven days a week. Buyers can also purchase fully furnished homes designed by renowned interior decorators.
And of course, “The owner of a Mandarin Oriental Fifth Avenue residence is guaranteed to experience the same level of luxury service and comfort they would find at any Mandarin Oriental hotel in the world,” she notes.
OWNING AN ICON
One particular branded residence offers the chance to buy into the iconography of the city: the palatial Towers of the Waldorf Astoria, which is currently under a $1 billion renovation. “The Waldorf Astoria New York is a living legacy of luxury that will be brought back to its original splendor and will feature 375 exclusive condos created by acclaimed designer Jean-Louis Deniot,” de França says. “Every purchaser thus far has memories and fond stories about special events in their life taking place there. There’s also the cachet, prestige, and
The Mandarin Oriental Residences Fifth Avenue in New York features a private owners’ rooftop pool, lounge, and bar.
appreciation for the historical value of the landmark branded residence.”
Not surprisingly, amenities here reflect the property’s illustrious reputation. “Residents of the Waldorf Astoria New York will enjoy exclusive access to almost 50,000 square feet of private residential amenities as part of the condominium residences, signing privileges at the hotel’s restaurants and bars, preferred pricing, and à la carte services like housekeeping and 24/7 in-residence dining,” de França says.
Looking farther south, “The Waldorf Astoria Miami, the Four Seasons Residences in Ft. Lauderdale, and The Ritz-Carlton Residences in West Palm Beach are more evidence that the market for cutting-edge amenities that focus on the resident—such as a pool, large terraces, in-house cafés, private bar/wine tasting rooms, spas, and more—are most appealing to the buyer.”
The same can be said for The Ritz-Carlton New York, Nomad, a ground-up build along Broadway by architect Rafael Viñoly, which includes 16 luxury residences
on its upper floors, all with spectacular city views. Homes come fully furnished—and residents receive the acclaimed Ritz-Carlton service.
Whether your taste runs to chic metropolitan boutiques or luxe beachfront resorts, the beauty of branded residences lies in the comfort of knowing that you can savor the luxe surroundings and five-star service of a great hotel without ever having to check out. What better way to embrace the vacation mindset whether you’re on holiday or not?
The Towers Waldorf Astoria Residences balance modern comfort with art deco opulence. Among the amenities for owners in The Towers Waldorf Astoria Residences are a private dining room, a private terrace overlooking Park Avenue, and a private porte cochère with 24-hour valet service.
