Residential hotels are nothing new in Manhattan. After all, the Ansonia opened in 1904 (complete with an urban roof farm!) long before the Mandarin Oriental began selling condominiums on Columbus Circle or the Ritz-Carlton in the Battery housed Sandra Lee. But with headlines screaming about a mass exodus, the new crop of luxury hotel brands offering full-service residences feels timely: On an island where the average price per square foot can easily top $1,500 even before a buyer takes into account monthly condo fees, these innovative cult brands are reinventing what a New York pied-à-terre can deliver. And they are helping to bring people back to Manhattan.
© Architectural DigestInside The Fasano, run as a members-only club with private residences.
"For many people who moved away during the pandemic, the idea of losing the city forever is just unimaginable," says Dan Tubb, senior sales director for the Towers of the Waldorf Astoria, set above the iconic building on Park Avenue. "We are seeing people who moved to Florida but are looking for an easy, luxurious home in New York City, and the Waldorf Astoria is an obvious choice since this is a home that could previously never be owned."
While the landmark hotel is being renovated from tip to toe at a cost of around $1 billion, the 1,400 guest rooms have been dropped down to 375 to accommodate 375 residences with 124 different floor plans, many with private terraces. One-bedrooms start at $1.8 million, with four-bedrooms going for around $18.5 million. Owners in the 1931 Schulz & Weaver building will have exclusive access to 50,000 square feet of residential amenities including a spa and pool, along with a dedicated staff and entrance. Interiors will be designed by Jean-Louis Deniot (an AD100 designer), who is modernizing the Art Deco look without venturing into pastiche. A furniture package will allow homeowners to purchase move-in-ready pads.
"We have had nearly 7,000 inquiries from all over the world, from coast to coast, throughout the heartland, and even from just a few blocks away," says Tubb. He thinks the Towers of the Waldorf Astoria may be the most distinctive residential offering in the world, since "the Waldorf Astoria set the standard and defined ultra-luxury hotel service," he says.
© Architectural DigestThe luxurious winter garden inside The Waldorf Astoria's glamorous new Park Avenue outpost.
He'll have lots of competition. Aman Resorts, for the first time, is introducing its city residences at the same time as it is debuting a hotel. "We've noticed in the last year, because people didn't want to travel as much, they are choosing to spend their time in the Aman Villas," says Vanessa Grout, Aman's director of global residences. Aman Residences have always been popular, but even the company didn't anticipate such high demand for its highest-ticket hotel rooms. "As a result, we are doubling down on the residential development program throughout the world, accelerating projects in the pipeline," she says.
In New York, the new Aman will occupy the Crown Building on 56th Street and Fifth Avenue, with just 22 residences taking over floors 15 to 30. Grout says that about half of the homes have already been sold, with only two-to-four bedrooms, starting at $13.5 million, and a full-floor penthouse, for a cool $60 million, left for buyers. The five-floor Crown Penthouse is also still available, should a buyer have $180 million lying around. The interiors of the 83 rooms and suites, as well as of the residences, were designed by Jean-Michel Gathy (Aman Venice, Amanyara) and will match the grand proportions of the original 1921 Crown Building by Warren & Wetmore. Unlike most other Manhattan hotels, outsiders won't be permitted in most of the common areas, such as the 20-meter-long pool, the 7,000-square-foot spa, and the jazz club. "City hotels have become highly trafficked," says Grout.
"We will not have that same effect, because this hotel, like our others, is a sanctuary. It's a place that doesn't feel like part of the city, while being in the most central location-a contrast that's appealing to residents who know the city." Two restaurants will be open to the public by reservation only, however.
© Architectural DigestThe pool inside the Aman New York.
Asian wellness brand Six Senses will manage a residential project coming to the XI, Bjarke Ingels's Hudson Yards twin towers. The company's first foray into the U.S. will include 236 condominium residences and a 60,000-square-foot wellness retreat. It's still in the works, but rest assured there will be a wait list for this modern icon.
Meanwhile, Brazilian hotel group Fasano is working on a Fifth Avenue "members-only private building," which should make a certain crowd happy: The city hasn't seen a new private club open for a century. Designed by Thierry Despont, the Fasano Fifth Avenue club will have four apartments that clock in around 3,600 square feet, plus seven Clubhouse Suites, all with views of Central Park and the skyline. Expect Brazilian contemporary furnishing, fabrics by Loro Piano, bathrooms lined in floor-to-ceiling marble, and kitchens with built-in lacquered cabinets and state-of-the-art appliances. A floor of amenities and a restaurant, Baretto New York, will service owners and members. Duplex Residences are something of a steal at $100,000 a month, though membership is required to rent one-and they are offered only by invitation.
"It has all qualities of the Fasano in São Paulo but with a New York twist," says Despont. "I like this project because I felt like this is a place where I would like to move in. It's a perfect place to live or stay in New York while you are there." A staff of 40 will cater to members' every whim.
Meanwhile, in the Flatiron District, the Ritz-Carlton Nomad brings yet another Ritz to Manhattan, this one also with a small-scale residential addition. The top four floors of the hotel on 28th and Broadway will accommodate just 16 residences. The ground-up build was designed by Rafael Viñoly, who took advantage of the sweeping southern and western views. Quite unusually, the smaller one- to two-bedroom units will take over the upper floors, which is why these true pied-à-terres start at around $4 million. The homes come furnished, with a maximum annual stay of 120 days, but owners can drop them into the rental program on a nightly basis from day one.
"It's a perfect pied-à-terre for today's nomadic buyer that appreciates having homes in different locations and being able to lock and leave," says Erin Boisson Aries, executive sales director at Christie's International Real Estate, who says she'll start closings once the hotel opens at the end of this year. "We are getting people coming back from Brooklyn, people coming back in general. There is so much pent-up demand from buyers. All they needed was to see an increase in vaccine distribution, spring weather, and everyone's mood brightening, and all of a sudden here is this perfect opportunity for a home that is manageable in size and price for many, full of services and amenities, and steps from everything the city has to offer."