In this week’s news recap: hotel branded residences among recent top sales in Boston and San Francisco, Ritz-Carlton Waikiki could expand its plan for more residences, plus openings in London, Bangalore, Israel and Charlotte.
There are distinct advantages to living near a cultural hot-spot, including a wealth of things to see, the possibility of great food right around the corner, and being part of an eclectic, creative vibe. Art museums located in major metropolitan centers bring exactly that type of vibe to the neighborhood in which they are located, and some hotel residences around the world have capitalized on their proximity to major art museums and installations, drawing in residents with a keen interest in being surrounded by culture and creativity. In many cases, the hotel residences themselves are works of art, making them even more attractive to potential occupants.
With an eye for style and design, it’s no wonder that many fashion labels move into designing home goods and furnishings. It’s also no surprise that a few would even go beyond that, making their mark in residences and hotels. Today we look at a few hotel residences designed by prominent fashion and jewelry designers, where their style philosophies have been translated into real estate.
When away from home for month-long business assignments, many executives suffer from pricy hotels or bland serviced apartments outfitted with generic furniture and boring restaurants. But high-end serviced apartment company Supercity UK utilizes its partnership with .IT All About Design (pronounced “Punto-I-T”), an Italian lifestyle hub and purveyor of high-design furniture, to push the boundaries of style in its collection of well-located extended stay homes in London.
This week’s news recap includes the partially-built Dellis Cay project up for sale, Brian Gluckstein’s model residences at Four Seasons Private Residences Toronto, and a new brand from Banyan Tree at Laguna Phuket’s next phase!
The first annual Serviced Apartment Summit was held this week at the Andaz Hotel in London, England. Over 200 delegates from Europe, The Americas, Middle East and Asia attended the event, which focused on for-rent aparthotels and corporate housing.
The upbeat summit focused on topics including market fundamentals, investment and financing, design, marketing and travel distribution. The optimistic group of industry leaders was convinced of the sector’s impressive growth potential. According to figures from The Apartment Service, there are an estimated 655,000 serviced apartments at 8,800 locations worldwide, pointing to growth of 9.4% over the 2011 total.
Those coming to London for short stays no longer need to worry about staying in generic or drab residences while taking a short-term assignment or when freshly relocated to the English capital. Supercity Aparthotels UK has developed three stylish and well-located properties for those needing more than a hotel but less than their own home.
Founded in 2008 and with the backing of HSBC, the family-run enterprise has been pursuing the development of prime sites for its “apartment-hotel” concept. While this sector is well-developed in the US and Middle East, supply of such accommodation in London is extremely limited, and demand high. The typical customers include corporate executives new to town who will look for a permanent home after they arrive, and those transferred to the city for temporary assignments.
Thus, Supercity customers’ average length of stay is around 2 months, which is too short to decorate one’s own home, and too long to go without personal touches and a full suite of kitchen appliances. Thus, the Apart-Hotel concept is the perfect solution. Supercity’s fresh, modern properties combine stylish interiors that recall the hippest boutique hotels and thoughtful touches to make each guest’s stay more enjoyable. Unique furniture pieces, clever artwork, and vibrant colors create an upbeat mood in the studio, one- and two-bedroom serviced apartments. Standard features include i-Pod docks to play your own music on proper speakers, in-room washing machines and dryers, fully-outfitted kitchens and luxurious baths.
Supercity’s newest location is on Rosebery Avenue in Clerkenwell, truly in the heart of London and steps from Farringdon and Chancery Lane tube stations. Two other properties in Earl’s Court offer a charming residential feel with easy access to both the center of London and Heathrow Airport. The properties all feature weekly maid service, reliable Wi-Fi connections and concierge services to help those newly relocated get their bearings. Some also offer dry cleaning, gym memberships, and lobby bars with the ever-important morning coffee service (not to worry, tea and toast are also available). For-rent Zipcars are also located nearby for the convenience of guests. What we think residents will most appreciate, however, is the personable service, as well as the effort to make to make the properties feel friendly and social.
Business travel for months on end or an international relocation can be stressful enough. The team at Supercity ApartHotels UK proves that settling into a new city can go smoothly and with style.
Four Seasons Private Residences New York Downtown Gets Financing, To Open in 2016
Donald Trump Testifies in “Bait and Switch” Trial Relating to Trump International Hotel & Tower Chicago
9 out of 16 New Mandarin Oriental Hotels in Pipeline Include Residences
SOM Designing Singapore’s Tallest Tower, Complete with Luxury Hotel and Residences
Four Seasons Private Residences Miami Penthouse Sale Sets New Pricing Record Set for Brickell Area
$18 Million Listing Comes on the Market at the Plaza Hotel in New York
Club Med Considering Condo-Hotel Units at Bahamas Resort
London’s Booming Residential Market Spurring Large-Scale Projects
Rumored Ritz-Carlton Residences Miami Beach May Be Designed by Piero Lissoni
Montage Brand Expansion Discussed in Laguna Beach General Manager Interview
Qatar Increasing Fairmont-Raffles Stake
In its fourth month since launching, HotelHomes.com has exceeded 13,000 visits during April 2013, representing a 13% increase in traffic over March.
For the first time, Americans represent more page views than any other country, with India and Russia joining the United States in the top three source countries out of 180 by number of visits. Indicative of the global demand for luxury real estate in the world’s global cities, New York and the United Kingdom were among the top three most searched locations, joined by Florida. All of these markets are experiencing price appreciation and extensive new development, with record sales prices being reached for top properties in Manhattan, London and Miami.
Indeed, the most viewed development was the Four Seasons Private Residences Miami, where a $27 million custom combination home on the 54th floor is available for sale through Dennis Mangone of Douglas Elliman. HotelHomes.com continues to direct web traffic through to specific residences for sale through the brokerage community, topped by a $4.4 million residence at The Plaza in New York available through Elizabeth Lorenzo of Stribling & Associates, and a $5.495 million custom combination home at the Residences at the Ritz-Carlton Towers Boston, represented by Bruce McCue of Atlantis Associates Real Estate.
For the third month in a row, Ritz-Carlton and Four Seasons ranked in the top three most searched hotel brands on the site. This month, they were joined by the Montage brand, which currently has three residential developments in sales, located in Deer Valley, Utah, and Laguna Beach and Beverly Hills in California. Beach lifestyles remained the most searched, joined by city destinations, spa and casino residences.
“The hotel-branded residence sector continues to grow both in the number of properties and interest from high net-worth individuals, ” commented Dan August Cordeiro, HotelHomes.com’s founder. “These factors, combined with our branding and marketing efforts, are underpinning the site’s growth momentum.”
Since reports of record sales in top properties in London and New York just shy of the $100 million mark, developers have become anything but shy about asking prices above the 9-digit barrier. While the top reported sales are hovering around $90 million, these top properties represent the most expensive hotel-serviced residences on the market in the $100+ million club.
One57 Penthouse: $100+ million
The team behind One57 keep their pricing close to the vest, but New York’s “billionaire’s tower” has reportedly inked at least one sale over the $90 million mark. But not to fear – the developer still has at least one penthouse available for buyers over $100 million. While exclusivity is the name of the game, we are sure that the residence will feature the tower’s signature “long views” of Central Park which sprawls out like a red carpet to the new building designed by Christian de Portzamparc, which also features a new Park Hyatt Hotel in the building’s base.
Penthouse at The Pierre $125 million
The Pierre is unequivocally a New York legend. While several new towers are offering skyscraper living, The Pierre possesses a long heritage and pedigree, having hosted some of the city’s most prestigious guests, residents and social events since opening in 1930. Its top three floors comprise the building’s original ballroom, now transformed into a stunning 16-room penthouse manse that includes what the sales agents refer to as “the most magnificent privately owned room in the world.” In addition, the home features several reception rooms, four private terraces, five master suites, five fireplaces and separate staff quarters. The hotel underwent a comprehensive restoration in 2009 under the management of Taj Hotels & Resorts.
Bulgari London Penthouse $110-160 million
Across the pond in London, the top floors at the new Bulgari Hotel in Knightsbridge offer just two residential penthouses for sale. The new hotel is part of an elite collection of hotels bearing the Bulgari name and managed in conjunction with the Ritz-Carlton team – with others operating in Milan and Bali. Designed by Antonio Citterio & Partners, the hotels have developed a devoted following of modern Italian design. The last penthouse is located on the 7th floor and comprises 9260 square feet with views of Hyde Park. The pricing has been reported in the wide range of $110 and $157 million, although claims of pricing at the lowest end of the range have been for unfinished space.
While the ink may still be wet on some of those $90 million contracts, we eagerly anticipate the first big hotel-branded residence sale in the nine figures!