For many modern homeowners, condo amenities aren't just a luxury, they're a necessity. When you're feeling overwhelmed juggling life's daily tasks, the right amenities can help relieve some of the pressure and transform everyday chaos into a seamless living experience.
Especially in a city like NYC, where the pace of life is fast and the cost of living is high, apartments with the best amenities tend to attract the most interest from qualified buyers. For those with the budget, the added premium is a small price to pay for the conveniences and lifestyle they offer. So, if you're thinking about buying a new construction home in the near future, here is a closer look at how luxury apartment amenities provide the optimal living experience.
Why Amenities Matter
In today's world, luxury amenities aren't just added perks — they are essential to keeping life running smoothly. Developers know that modern buyers expect more than just square footage when they purchase a home. Let's face it: no one wants to pay NYC prices for just four walls and a door.
That's why so many new luxury condominium buildings in NYC are packed with high-end features designed to provide a better work-life balance. Buyers are willing to pay a higher premium for an amenity building that makes life more convenient.
According to a report by Streeteasy, homes with the best condo amenities command a 10-15% premium. Some of the most popular and in demand include an in-unit washer and dryer, a gym, or a swimming pool. Savvy developers know that failing to meet this demand could potentially alienate a large pool of qualified buyers. As a result, many luxury residential buildings in NYC go above and beyond to sell an exclusive living experience where residents have access to everything they need without leaving the building.
Take One Manhattan Square, for example. Built in the relatively isolated Two Bridges neighborhood of Lower Manhattan, its developers transformed it into a self-contained community equipped with a wide variety of cool apartment amenities, including a co-working space and multiple wellness centers. They aren't just conveniences — they add real value, which is why buyers are willing to pay the added premium.
Most Popular Amenities
In the city that never sleeps, where time is the ultimate luxury, amenities in luxury condos help you get more out of your day. That's why they’re prevalent in so many modern apartment buildings in NYC. Due to their convenience and practical applications, certain features are more common than others and tend to show up again and again. Here are some of the most popular.
- Doorman: A 24/7 doorman ensures seamless package deliveries and added security. On average, buyers are willing to pay about 12% more for a building with a doorman vs. a non-attended building.
- Washer and Dryer: An in-unit washer-dryer saves you from making that dreaded trek to the local laundromat, where you always end up losing a sock or two. For New Yorkers, it's one of the most desirable amenities in a condominium. According to Streeteasy an in-unit washer dryer commanded an added premium of 14.1% of the sales price for condos worth under $2.5 million.
- Gym: A state-of-the-art gym allows you to stay healthy without traveling across town. An on-site fitness center is one of the top apartment amenities for health-conscious homeowners, which is why about 90% of high-end buildings constructed in the last decade feature a gym.
- Rooftop: A rooftop with an outdoor grill turns any evening into an opportunity to socialize. For many city dwellers, apartments with outdoor space offer the equivalent of a big backyard where you can gather with friends and neighbors to enjoy the nice weather.
- Parking: In a gridlocked city like New York, parking is a rare convenience that means you're never stuck circling the block again. In fact, parking is so precious that some buildings in New York have even sold parking spaces for as much as $1 million!
- Swimming Pool: For the ultimate escape, a private pool offers a pleasant retreat from the city's fast-paced energy.
- Sustainable Features: Sustainable luxury condo amenities are also a major priority. According to the NAR, 57% of realtors say that energy efficiency is valuable to their clients. Many new developments feature LEED-certified buildings with filtered air and water, proving that true luxury isn't just about convenience—it's about quality of life.
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Co-working Spaces: Since COVID, many buyers have prioritized co-working spaces to avoid crowded coffee shops or long commutes. Buildings like Tribeca Green and 1 Domino Square now offer in-building office spaces to cater to this growing trend.
Most Unique Amenities
While not the most traditional, some new buildings feature unique apartment amenities to set themselves apart and cater to a specific clientele.
Here are a few less common amenities in apartments that you never knew you wanted but now can't live without:
- Whiskey Cellar or Wine Room: Perfect for liquor aficionados who want to store their collections or sit and enjoy a glass.
- Rooftop Bar: An attended rooftop bar is one of the best apartment amenities for enjoying an after-work drink while taking in the stunning skyline views.
- Pet Grooming Station: A pet grooming station keeps furry friends fully pampered without the trip to the vet.
- Turkish Bath: For relaxation, enjoying a soothing soak in the Turkish bath is the ultimate luxury spa experience.
- Coffee Bar: Grab your morning cup of joe without the long lines at an on-site coffee bar.
Striking a Balance
Although these amenities certainly make life more convenient, they aren't free. It's important to remember that any extra features in the building will come at a cost. Maintenance fees are part of your monthly carrying costs, which can quickly add up if you don't do the math and think ahead. The trick is to find the right balance.
A good way to quickly assess the potential costs that amenities may add is to consider the size of the building. In a larger building, having a lot of amenities may be more manageable because there are more homeowners who can split the bill and keep the fees reasonable. However, in smaller, boutique buildings, the cost burden falls more directly on individual homeowners. So you don't want too many extra features.
For example, everyone thinks they want a swimming pool until they realize NYC mandates a lifeguard on duty. Most of the time, the lifeguard is just sitting around surfing the internet while you cover their salary. So unless you're an avid swimmer and plan to use it regularly, it often isn't worth the added expenses (especially in a smaller building).
Understanding the value of the right amenities is a great first step toward finding the perfect home. Although knowing what you want and finding a building that offers it are entirely different challenges. Luckily, Undivided can help…
