July 24, 2014
Who wouldn't want to be able to order a juicy burger in the middle of the night and have it delivered in mere minutes? Or never have to worry about making the bed or folding sheets ever again (does anyone know how to fold the fitted sheet properly)? How about having an on-call masseuse? This is the life of living in a condo hotel.
Today, the city is teeming with these luxurious hybrids. The Residences at the Ritz Carlton in Battery Park City are home to the city's most expensive listing at $118 million. The landmark Plaza Hotel was partially converted to 181 residences in 2008. And let's not forget One57, the 90-story, 52-condo tower that will be the first five-star luxury hotel to rise in New York City in the last ten years. But do the vacation-worthy amenities at these buildings make them dominant in the real estate market?
We take a closer look