The Rise of Multi-Unit Purchases in NYC’s Luxury Condo Market

In recent years, a fascinating trend has emerged in New York City’s luxury condo market, where buyers are not just settling for one unit but are opting to purchase multiple residences within the same building.

This trend, often referred to as the “so nice I bought it twice” phenomenon, is reshaping the landscape of upscale living in the city.

From iconic buildings like Claremont Hall and One Manhattan Square to newer developments like Front & York in DUMBO and Tribeca Green, the allure of owning multiple units is undeniable. Let’s delve into this trend and explore some notable examples.

Claremont Hall: Morningside Heights’ Gothic Revival Gem

Set at 100 Claremont Avenue in Morningside Heights, Claremont Hall stands as a testament to architectural splendour within the Union Theological Seminary (UTS) campus.

The Rise of Multi-Unit Purchases in NYC's Luxury Condo Market

Boasting 165 condominiums ranging from one to four bedrooms, this 41-story mixed-use building offers breathtaking views of the river, skyline, and nearby parks. Crafted by the renowned Robert A.M. Stern Architects (RAMSA), Claremont Hall seamlessly blends Gothic Revival aesthetics with modern luxury.

The amenities at Claremont Hall are nothing short of exceptional. From a walnut-panelled library to a captivating lobby, every detail exudes timeless charm and sophistication.

Recent data even ranks Claremont Hall among the top five best-selling new development condos in Manhattan for Q1 2024, cementing its status as a premier residential destination.

One Manhattan Square: The Vertical Village of Lower East Side

Situated in the heart of Manhattan’s Lower East Side, One Manhattan Square is not just a residential building; it’s a vertical village offering over 100,000 square feet of indoor and outdoor amenities.

The Rise of Multi-Unit Purchases in NYC's Luxury Condo Market

The highlight of this development is undoubtedly its expansive private outdoor garden, the largest of its kind in New York City. Designed by West 8 Urban Design and Landscape Architecture, this green oasis offers residents a serene escape from the bustling city life.

Indoors, One Manhattan Square boasts a plethora of health, wellness, and entertainment amenities, including multiple swimming pools, a full-size basketball court, and a state-of-the-art cinema. With such a comprehensive array of offerings, it’s no wonder that buyers are drawn to the allure of owning multiple units in this urban paradise.

Front & York: A Resort-Like Experience in DUMBO

Front & York, located in DUMBO, Brooklyn, is redefining luxury living with its resort-like amenities and beautifully designed homes. Spanning over 150,000 square feet, the amenity collection at Front & York is one of the largest in New York City. From landscaped parks to indoor and outdoor pools, every aspect of this development exudes elegance and sophistication.

The Rise of Multi-Unit Purchases in NYC's Luxury Condo Market

Designed by celebrated architect Morris Adjmi, Front & York offers residents a truly immersive living experience. Whether it’s social lounges, wellness centres, or fitness destinations, this condominium address leaves no stone unturned in providing residents with the ultimate luxury lifestyle.

Tribeca Green: Where Lifestyle and Luxury Converge

Designed by Robert A.M. Stern Architects, Tribeca Green is a 24-story residence located in Manhattan’s serene waterfront neighbourhood. Boasting 264 units ranging from studios to four bedrooms, this elegant building offers an extensive range of amenities and services designed to impress even the most discerning buyers.

From children’s playrooms to co-working business centres, Tribeca Green caters to residents of all ages and interests. As warmer weather approaches, residents can take advantage of the landscaped rooftop terrace, complete with a lawn, fire pit, and barbecue area.

The Rise of Multi-Unit Purchases in NYC's Luxury Condo Market

With such an abundance of offerings, it’s no surprise that buyers are flocking to Tribeca Green to secure multiple units for themselves and their families.

Conclusion: The Future of Luxury Living in NYC

As the demand for luxury living continues to rise in New York City, the trend of purchasing multiple units within the same building is poised to become even more prevalent.

Whether it’s for investment purposes, accommodating family members, or simply indulging in the epitome of urban luxury, owning multiple residences offers a level of exclusivity and convenience that is unparalleled.

With iconic buildings like Claremont Hall and One Manhattan Square leading the way, the future of luxury living in NYC is brighter than ever.

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