The New Face of Luxury Real Estate for 2025: How Shifting Buyer Preferences Are Creating New Opportunities

in

By Bianca D’Alessio 

Nest Seekers International | The Masters Division | Founder

Nest Seekers Development Marketing | Managing Director

As we close the book on 2024 and approach 2025, evolving buyer preferences are reshaping luxury real estate in the most dynamic market across the country—New York, Boston, and Miami. These vibrant cities are witnessing a surge in demand for properties that goes above and beyond the standard notion of luxury. Today’s buyers are more discerning than ever, seeking properties that transcend aesthetics and design, and are defined by personalized experiences, as well as a commitment to smarter and more sustainable living. 

->Driven By Experience 

Standout architecture and premium finishes are no longer enough to impress buyers and renters in today’s market —it’s about the experience a property delivers. Over the past year, we’ve seen a major shift toward amenity and service-driven properties that align with the modern lifestyle, especially when it comes to leisure and well-being. These buyers work hard and play hard, and are increasingly willing to trade in square footage for more enhanced living experiences. They are gravitating toward features like thoughtfully-curated fitness and spa facilities, Olympic-sized pools, and professional-grade pickleball and basketball courts. Exclusive dining lounges as well as outdoor spaces have also emerged as essential value-adds.

Developers are responding to these demands by not only integrating experience-focused features into new developments but also activating them in novel ways through strategic partnerships, access and programming. In cities like Miami, Boston and New York, this trend is only increasing as we work closely with developers to establish elevated experiences that fulfills the needs of the more affluent and aspirational buyers.

->Eco-Conscious Living 

Today’s buyers are not just looking for an impressive property but a forward-thinking one. The luxury sector is seeing a surge in demand for sustainable buildings, with developers in all three cities incorporating eco-friendly designs. From energy-efficient appliances to LEED-certified construction and eco-conscious materials, these sustainability measures appeal to buyers willing to pay a premium for properties that align with their values.

Boston, in particular, is seeing a rise in demand for green buildings. Properties incorporating energy-efficient systems, green roofs, and sustainable materials appeal to buyers who prioritize the environment without compromising on style or luxury. In Miami, developers are considering resilient, climate-responsive designs, with hurricane-proof structures and elevated foundations becoming more prevalent in high-end markets. This is also a priority for a new generation of younger buyers who strongly emphasize sustainability into their entire lifestyle.

One of our best-selling development projects in the past year was 110 North 1st in Williamsburg, Brooklyn. Entering the market as a mid-sized condominium building offering a curated package of spa-inspired amenities and services, the building outperformed all of the other competing projects in the neighborhood.

->Looking Ahead 

As 2025 approaches, the luxury markets in New York, Boston, and Miami and beyond will continue this exciting evolution to align with the values of today’s buyers. Sustainability, experiential features, cutting-edge technology, and personalized services will take center stage in a way we have never seen before. There will be an even stronger focus on enhanced smart home and security systems and hospitality-inspired offerings such as wellness programs, curated events, dining, and concierge services.

Stay connected! Follow Bianca D’Alessio on Instagram for more insights: www.instagram.com/biancadalessio

Have a listing you think should be featured contact us or submit here to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Off the MRKT Q&A with Peter Zaitzeff, Sales Director of New Development at SERHANT.

in

Off the MRKT spoke with Peter Zaitzeff, New Development Sales Director at SERHANT., to discuss the firm’s innovative real estate marketing strategies, showcased in the Netflix hit Owning Manhattan. Peter offers insights into the unique allure of 200 Amsterdam — a best-selling luxury development on the Upper West Side featured on the show — and shares his perspective on emerging trends and buyer preferences in New York’s evolving luxury market.

Peter Zaitzeff

As New Development Sales Director at SERHANT., you're at the forefront of the company's rapid growth. How would you characterize SERHANT’s approach to real estate? What makes your team so successful?

SERHANT.’s approach leverages cutting-edge technology and a powerful social media presence, enabling us to stand out in today’s market. Ryan Serhant’s vision challenges the status quo and aims to truly disrupt the real estate industry.

Unlike traditional brokerage firms, SERHANT. has redefined how media is integrated into real estate, creating content that's both highly accessible and exceptionally polished. Our ‘Studios’ department illustrates this commitment — it's a dedicated in-house team focused on producing top-tier media content, which isn’t seen at other firms.

SERHANT. has become known for its innovative marketing and media presence, including the success of its Netflix reality show Owning Manhattan. How has the media exposure influenced the way you approach new development sales? 

Media exposure is essential in today's real estate market, particularly for new developments — it puts our properties on a global stage, reaching an international audience.  The response to Owning Manhattan has been phenomenal – our office has almost become a tourist destination, with people stopping by just to take photos of the building.

Photo Credit Williams New York

A luxury property on the Upper West Side, 200 Amsterdam, was featured in the season finale of Owning Manhattan. How has this type of exposure impacted buyer interest in the building?

Since the show aired, we've seen a significant increase in inquiries across the board. While a TV show alone can’t cement the sale of a luxury property, it has certainly generated considerable interest in 200 Amsterdam’s residences and attracted many prospective buyers following the building’s appearance in the finale. 

Tell me a little more about 200 Amsterdam. What sets the building apart from other luxury buildings on the Upper West Side?

200 Amsterdam, one of the tallest buildings on the Upper West Side, is a rare ground-up new development in the neighborhood that seamlessly blends classic New York architecture with modern amenities and conveniences. With floor-to-ceiling glass windows, the tower offers unbeatable views of nearby Central Park and the Hudson River. The 10-foot ceiling heights, meticulously-designed layouts, and expansive living and entertainment spaces elevate each residence, making them truly exceptional.

Which of the building’s features have resonated the most with prospects? 

200 Amsterdam’s open views of Central Park and the Hudson River are a major highlight, with some full-floor residences offering 360-degree panoramas so expansive that, on a clear day, you can see the Statue of Liberty. Buyers are also drawn to luxurious amenities like the 75-foot saltwater lap pool, state-of-the-art gym, sports simulator and composers-themed children’s playroom. The exclusive partnership with Lincoln Center, which provides residents with premier access to an array of performances, adds to the building’s unique appeal.

Additionally, the white-glove and concierge services, which can arrange everything from plane tickets to dinner reservations and dry cleaning, are particularly appealing to empty-nesters or those returning to the city after years in the suburbs, eager to experience the best of Manhattan.

We’re halfway through 2024. Looking at the New York City market, what are some of the key trends and buyer preferences we can expect throughout the rest of the year?

As we move into the latter half of 2024, we’re seeing a steady stream of contracts, especially from buyers focused on brand-new properties. Many of these are all-cash buyers from the tri-state area, looking for pied-à-terre units of varying sizes, intent on finalizing their purchases before any market uncertainty following the fall election. 

In terms of buyer preferences, there’s a strong demand for residences with comprehensive hotel-style amenities and services, like those I mentioned earlier. Some buyers are opting to downsize or purchase new properties rather than undertake renovations. We’re also seeing a notable transfer of generational wealth, with families investing in properties for the long term.

What is it about these luxury buildings that compels parents to pay all cash for their adult kids? How is this trend impacting the luxury market? 

Parents view these luxury buildings as solid, long-term investments for their adult children and future families. In the wake of the pandemic, there's also reassurance in knowing their children are in safe, secure buildings that offer everything they might need. This trend has been steadily growing since 2020, particularly among out-of-town buyers who prioritize full-service properties and proximity to institutions like Juilliard, Columbia and NYU. Even when buyers are purchasing for themselves, we’re seeing a rise in parents willing to pay a premium to be closer to their children attending college.

What advice would you give to someone looking to buy in the New York luxury real estate market today, whether as an investor or a first-time buyer?

My advice is to always aim for A+ properties, even in down markets — anything less is likely to suffer if the market shifts. A+ properties, like 200 Amsterdam, tend to perform well regardless of market conditions. It's important to find the right fit and act within the right time frame. As a broker, my philosophy is to help clients find a home they love that’s also the best possible investment for them. 

Have a listing you think should be featured contact us or submit here to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Discover NYC's Chic Condos with Upscale Entertaining Spaces

in

With spring in full swing and warmer weather enticing New Yorkers to gather and socialize, now is the perfect time to explore some of NYC's top developments featuring luxurious entertaining spaces. From chic bars to stylish lounges and elegant dining areas, these condominiums offer residents the perfect settings for hosting memorable gatherings, all within the comfort of their own buildings. High-design condos like Monogram NY, Sutton Tower, and Front & York showcase the importance of providing upscale entertainment options, embracing the concept of layered entertaining where residents can seamlessly move from cocktails to cozy lounges and sophisticated dining areas.

Monogram NY: Elegance in the Heart of Midtown

Photo Credit: Recent Spaces

Designed by Ismael Leyva Architects with interiors by the acclaimed studio Neri&Hu, Monogram NY is a stunning new development situated in the heart of Midtown Manhattan. This elegant condominium effortlessly blends serenity with the vibrant flair of New York City. Residents at Monogram NY can indulge in the top-floor amenity package known as the "Sphere Club." This sophisticated bar and lounge is attended by dedicated staff and offers sweeping panoramic views of the iconic New York City skyline, creating an atmosphere reminiscent of a private club. The Sphere Club also includes a reading room lounge with a fireplace, an intimate bar, and a private dining room with a catering kitchen, all enveloped by expansive city skyline vistas. These luxurious spaces provide residents with the perfect settings to host events and gatherings, ensuring a tailored experience for every occasion.

Sutton Tower: Grand Entertaining on the East Side

Photo Credit: Courtesy of Sutton Tower

Standing as the tallest residential tower along Manhattan's East Side waterfront, Sutton Tower is a defining New York address that boasts unrivaled views and dynamic design by the celebrated designer Thomas Juul-Hansen. The condo building's thoughtful amenity collection, known as The Sutton Club, embodies the Upper East Side’s tradition of grand entertaining. The large private dining room, adorned with warm, elegant finishes and an adjacent chef’s demonstration kitchen, is ideal for hosting and toasting with loved ones on special occasions. Residents also enjoy a secondary dining lounge, providing a more casual, intimate space for gatherings. The entertainment opportunities continue in the building’s skylit club lounge and adjacent terrace, as well as the plush screening room equipped with custom sofas, a wet bar, and a cinema-level audio-visual system. These amenities ensure that Sutton Tower residents have an array of options for hosting any type of event in style.

Front & York: A Luxurious Urban Experience in DUMBO

Photo Credit Colin Miller

Front & York, designed by celebrated architect Morris Adjmi, offers an amenity-driven luxury urban experience in DUMBO with one of NYC's largest and most comprehensive amenity collections, spanning 150,000 square feet. Perfect for residents looking to host intimate gatherings or holiday get-togethers, Front & York features a luxurious wine room connected to a chef's kitchen, creating an ideal suite for custom dining experiences. The development also boasts a dedicated party room with a beautiful dinner table for more formal sit-down dining experiences, as well as a billiards lounge complete with a pool table and bar, making it the perfect customizable suite for any occasion. These thoughtfully designed spaces ensure that residents can entertain in style, whether it’s a casual get-together or a grand celebration.

A Seamless Entertaining Experience

Monogram NY, Sutton Tower, and Front & York exemplify the trend of incorporating upscale, versatile entertaining spaces into residential developments. These condominiums not only provide luxurious living spaces but also create an environment where residents can host memorable events without leaving the comfort of their homes. From intimate lounges to grand dining rooms and everything in between, these developments offer the ultimate entertaining experience, reflecting the sophistication and elegance of New York City living.

Have a listing you think should be featured contact us or submit here to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.

Luxe Outdoor Living Spaces for Spring: Embracing the Season in New York's Finest Residences

in

As winter gives way to the vibrant hues of spring, New Yorkers with a penchant for luxury and outdoor living find themselves in a season of rejuvenation. This year, several exclusive residences in the city are showcasing their private outdoor spaces, perfect for entertaining, relaxation, and enjoying the beauty of nature. Here's a look at some of these exquisite properties, each offering a unique way to welcome the spring season.

The Wales Penthouse in Carnegie Hill

Photo credit David Paler

The Wales, a boutique hotel turned condominium in Carnegie Hill, features a Penthouse that epitomizes luxury outdoor living. Priced at $21.5 million and represented by Adellco, this residence boasts a massive 3,114 square foot terrace over two levels, offering panoramic views of Central Park. The Penthouse's elegant design and expansive outdoor spaces make it an ideal location for springtime enjoyment.

313 West 20th Street, Chelsea

Photo credit Hayley Ellen Day & Joel Pitra of Dreps

In the sophisticated neighborhood of Chelsea, 313 West 20th Street stands as a beacon of grandeur. Listed at $12,500,000 and represented by Vickey Barron, this expansive townhouse features multiple private outdoor spaces, perfect for embracing the spring season in style.

238 Greene Avenue Townhouse, Brooklyn

238 Greene Avenue in Brooklyn’s coveted neighborhood is a single-family townhouse that marries upscale finishes with the joys of outdoor living. Priced at $3.5 million and represented by Bianca D’Alessio of Nest Seekers International, this residence includes a backyard, sun terrace, and rooftop deck, offering a serene escape in the heart of the city.

145 Central Park North, #2A Central Park North

Photo credit Brad Dickson and Jakob Dahlin

Residence 2A at 145 Central Park North, priced at $2,995,000 and represented by Mike Fabbri of Nest Seekers International, features a 500+ sqft landscaped terrace with an outdoor kitchen. This 3-bedroom residence provides a lush, private space for residents to enjoy the spring season amidst the urban landscape.

These residences not only offer luxurious indoor living spaces but also provide an opportunity to indulge in nature's beauty, right in the heart of New York City. As spring unfolds, these outdoor spaces become the ultimate urban sanctuaries, blending the best of both worlds.

Have a listing you think should be featured contact us or submit here to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.