Fashions change, in both clothing and real estate, and the popular features that were once a driver of interest now often take a backseat to other emerging trends. Town Residential makes the case that the luxury real estate market, in both NYC and around the world, is often a harbinger of future trends in the lower echelon of the real estate market. New amenities, in other words, often filter downward from the luxury market to the remainder of the market.
Some of the new amenities that are being offered in the NYC real estate market are unique and go way beyond the basic amenities of gym rooms and doormen that were prevalent in the past. Instead of simply having a gym, a building in Brooklyn has cardio room as well as a golf simulator and putting green which is designed to allow players to practice an improve on their golf game. For pet owners, one building has a private dog spa that is only accessible by building residents. Another building has an NBA regulation sized basketball court.
In fact, there almost seems to be a building that has an amenity designed for any interest that you have. A building on 57th street in Manhattan has a library room that is artfully decorated and conducive to reading. A building in Brooklyn has an art studio and music rehearsal room in the building. Regardless of your tastes and interests, there is a building for you.
If you can find it of course. The buildings that have these amenities go fast as NYC real estate market is after all a competitive market. A high quality real estate broker can help you to traverse the NYC real estate landscape and a firm like Town Residential can help. Town Residential, after all, specializes in the luxury NYC real estate market and often has forewarning of the dates that these new buildings are available to both buyers and rental tenants.
For buyers, the most challenging part of buildings with amenities (other than finding them of course), is understanding what these amenities are worth and how they are priced by the building. A real estate broker like Town Residential can better help you to maneuver through these amenities and understand whether the amenities are a good value for the building and what resale value they are likely to have in future years.