Glass and steel have monopolized new developments in recent years, but some architects are taking design cues from New York City’s classic buildings. Several new projects have stone facades—think Indiana Limestone and bluestone—while preserving views and natural light in the residences with oversized windows and sliding doors.
Luxury sales have suffered over the last year, as inventory has swelled and new taxes in New York City have made real estate deals more expensive.
In the fourth quarter of 2019, the median sales price for luxury homes, defined as the top 10%, dropped 24% year-over-year to $4.8 million, according to Douglas Elliman. The luxury threshold was $3.24 million in the same time period, compared to $3.9 million in 2018, Mansion Global reported.
That means developers are looking for ways to distinguish themselves. Some are bringing high-fashion home, by tapping designers who have worked with brands such as Tom Ford, Ralph Lauren and Gucci. Others have brought in international architectural and design firms from cities like Paris and Toronto to appeal to buyers with that certain je ne sais quoi.
Enhanced wellness amenities are also a must, with some developments going above and beyond to serve residents’ health needs. As always, outdoor space and enviable views are highly desirable in New York City homes.
Here, Mansion Global takes a look at several new projects launching sales in New York City this spring.