Younger buyers are fuelling a more relaxed, “less stuffy” style of luxury living, according to New York real estate mogul Aby Rosen.
The chief executive of RFR Holding said that, once completed, One Hundred and East Fifty Third Street – his new Foster-designed residential tower in New York’s Midtown district – would be more flexible and fluid to cater for a less traditional buyer.
He said: “There are a lot of tech kids buying in New York, people from the West Coast, San Francisco and LA – slick, fun and less structured. That is what New York is about now. People take off their suit and tie and slip into a casual pullover and jeans and they should be treated just the same.”
As a result, the price point of his new 63-storey residential venture will be lower than in some luxury residential developments in the city starting at $5m-$7m (£3.3m-£4.6m) for a one-bedroom apartment on a lower floor and going up to around $25m for the higher 4,000 sq ft full-floor apartments.
The communal areas will complement the more relaxed, casual lifestyle Rosen believes his target audience are now leading, with an upscale food market replacing a traditional restaurant and by removing designated dining areas from the individual apartments in favour of flexible entertainment zones.
