Why is now the time to buy a luxury branded home
With vacation properties on the rise, branded residences offer all the excitement of a zero-maintenance vacation home, while being a valuable investment.
The porte-cochère at the Waldorf Astoria Towers
When the heights of luxury in hospitality, automotive, fashion and beyond extend to the real estate space, there is a good chance that their aspirations will take the form of a branded residence. From breathtaking locations to top-of-the-line amenities and VIP perks to ultra-personal service, branded residences offer a lifestyle aligned with the ideals that each brand represents.
For buyers, this can mean securing a second, third or fourth home backed by the prestige of a world-renowned company. At the Waldorf Astoria towers in New York City, the brand’s name doesn’t just have cachet, it’s preloaded with nearly a century of cultural history. “It’s just a name that can’t be duplicated,” says Dan Tubb, senior sales manager for Waldorf Astoria towers, which are slated to open in early 2023.
Branded residences also give luxury brands that aren’t already focused on hospitality a chance to translate their trusted reputation into real estate. The Fendi Chateau residences in Miami, for example, serve as a habitable extension of the signature aesthetic of the fashion house. The Fendi style and vision is found in every element of the residential experience, from the building’s architecture to interior design choices like textiles, finishes and furniture, explains Monica Venegas. As the founder of the Venegas International group, she oversees the sales and marketing of the Fendi, Armani and Missoni brand residences, among others.
But whatever the product, the affinity with the brand is an emotional engine. Some buyers have extraordinary experiences that lead them to personally trust and admire a particular brand, while others may be more drawn to the prestige by association that comes with buying a home with a revered name. “There is a pride in owning something that is well known to others, but is still extremely exclusive,” says Gil Dezer, whose latest project as CEO of Dezer Development is the Bentley Residences in Sunny Isles. Beach, Florida.
Whatever their reasoning, buyers interested in designer residences open the doors to definitive luxury lifestyles. In the residences offered by hotel brands, this lifestyle is often closely linked to the experience you can expect from staying at a high-end hotel. “When you buy a Marriott-branded home, you don’t just get a vacation home,” says Dana Jacobsohn, senior vice president of mixed-use development at Marriott International, “you’re buying a lifestyle that offers you consistent services and amenities around the world. Marriott International branded residences include the St. Regis and Ritz-Carlton properties, to name a few.
However, these facilities and services are far-reaching and are guided both by the specific residence and by the brand that underlies it. Silversands Granada, for example, has chosen to emphasize the appeal of the property’s exceptional location and resort lifestyle: -catered breakfast, ”says Kandace Douglas, director of real estate sales and marketing at Silversands. “Everything that residents would normally do in a hotel, they can do in the privacy of their own home. “
Some branded residences tap into their extensive networks to provide perks that keep everything in the family. Marriott International’s Owner Recognition Program unlocks celebrity status around the world. “Owners receive VIP treatment both at home and when traveling through our portfolio of 7,600 hotels around the world,” said Jacobsohn. “It’s our way of both thanking and recognizing our owners for their commitment and confidence in our brands and the lifestyle they have chosen.
Other branded residences increase access to hotel facilities with services and facilities tailored to long-term residents. The Waldorf Astoria tours, for example, have doubled their wellness goal. In addition to unlimited access to all Waldorf Astoria hotel services, Towers residents can also use 50,000 square feet of private residential amenities, including an exclusive fitness center, 25-meter swimming pool with a well double height light, wellness lounges with saunas and steam rooms and private training studios and spa treatment rooms. Tubb says the Towers interpret wellness “not just as fitness, but the ability to pursue all aspects of wellness, in terms of nutrition, physical therapy and whatever else a resident needs. to live your life the best it can be ”.
This exclusivity is another commercial advantage of branded residences. “We’re finding that residents are very focused on privacy at levels that we haven’t really seen before in luxury real estate,” Tubb said. In response to this trend, each Towers residence has its own private concierge closet integrated seamlessly into the entrance area of the house with interior locks that only residents control. “Anything that residents have picked up in the lobby can be delivered to them 24 hours a day,” says Tubb, “whether it’s packages or grocery delivery, laundry service, even room-service meals. from the Waldorf Astoria hotel. “
The tower concierge closet was prescient, highlighting the growing importance of discretion and the importance the global pandemic places on privacy. As we dream of once again having face-to-face conversations and personal connections with our family and friends, non-contact interactions are likely to become a long-term if not permanent part of our post-COVID reality.
And it turns out that luxury residences and personal space fit together quite easily. Take the Porsche Design Tower, for example. When it was first announced in 2016, long before the pandemic, one of the residence’s most popular selling points was the Dezervator, a patented automotive lifting system. “Our residences are the only residences in the world designed to allow residents to get to their apartments without being in an elevator with anyone,” explains Dezer. “Our residents can drive directly to their apartment in their own car without mixing with someone else in the building. No valet parking. No elevator to get home. The car is the key to your apartment. It’s a fitting development for a Porsche-branded residence, but it was also designed and implemented long before living in a residential skyscraper suddenly seemed like a risky proposition.
Yes, the pandemic has sparked increased interest in personal health and privacy. It’s also safe to say that every branded residence has reinforced cleaning protocols to keep residents confident and comfortable that their safety remains the top priority. But beyond the demands of luxury living and the expectations of physical health and safety, the pandemic has also altered the fundamental awareness of buyers about the purpose of every home they own. The imaginary lines between main homes and vacation homes have blurred irreparably over the past year, as remote working has become the norm and blockages have forced us to focus our attention inward.
“Principal homes and vacation getaways have mingled, so occupancy levels are higher than ever at our signature residences,” says Jacobsohn. “We expect more vacation homes to become a primary place of residence. As people get used to doing everything from home more and more, the places we live have become more and more important. Out of necessity, our homes have become our offices. But by choice, vacation destinations can become residential addresses.
Dan Tubb says residents see the Waldorf Astoria towers as a place where they can live, work and play. Buyers’ motivations run the gamut; where some residents want a high-end residential address, others are looking for an urban pied-à-terre offering high level service, privacy and exclusivity. Tubb sees this as a sign of the success of the branded residency. “When you come home to the Waldorf Astoria towers,” he says, “your vacation must never end.”
Location plays a key role in distinguishing a given residence from the pack. “You think of an inherited asset as something you would buy with pride or passion,” says Tubb. “Something you would like to pass on to your family after you leave. At the turns of the Waldorf Astoria, there is no risk that new neighboring developments will pop up on Park Avenue in a few years that could block views or deflate the value of residences. The Waldorf Astoria is also a recognized and protected city landmark since 2017, further strengthening its 90-year legacy as the unofficial palace of New York City.
Branded residences also have specific advantages over more traditional vacation home investments, not least due to the flexibility they offer. Upkeep, management and upkeep are taken care of with a branded residence, making the experience simpler for multi-owners. “If the residents happen to be away for two or three months or more, they are reassured that by the time they return, their homes will be ready to go,” Jacobsohn says. “They have trusted staff who will take care of their homes, whether it’s watering their plants or sorting their mail.
The promise of service at branded residences means these same staff members greet residents by name and remember their preferences, no matter how long it has been since their last visit to town. The sudden awakening from the pandemic has shown us that we live in a world where anything can happen. As the pressures for life on our planet accelerate and intensify, lifestyles and investments must change. Today it makes sense that the house is here, there and everywhere. Branded Residences serve the home without a headache, fearless familiarity, and are investments made to thrive in our ever-changing world.
For more stories from our recent travel issue, check out the digital magazine here.