News
Rich Buyers Now Expect Staff Quarters In Luxury Towers
July 26, 2016
Why buy a multimillion-dollar luxury condo if you can’t bring your nanny with you? US developers are making sure ultra-rich buyers don’t have to ask that question by offering accessory suites to top-dollar customers.
These suites are available only to purchasers of larger apartments on higher floors, and the 450 SF spaces are marketed as home offices, guest suites, storage and lodgings for family staff, MarketWatch reports. In luxury buildings, accessory suites can account for 10% to 40% of the building’s inventory.
And they aren't cheap—these studios cost $1M to $2M apiece in buildings where a two-bedroom apartment is $6M and a three-bedroom could run you no less than $9M. [MW]
