Craft House Client, Fasano Fifth Avenue, Featured in Architectural Digest
High-End Residences in New York City are Bringing Hotel Life Home
Beloved hotel brands from across the globe are making a splash in Manhattan's luxury condo market
By Heidi Mitchell
“Residential hotels are nothing new in Manhattan. After all, the Ansonia opened in 1904 (complete with an urban roof farm!) long before the Mandarin Oriental began selling condominiums on Columbus Circle or the Ritz-Carlton in the Battery housed Sandra Lee. But with headlines screaming about a mass exodus, the new crop of luxury hotel brands offering full-service residences feels timely: On an island where the average price per square foot can easily top $1,500 even before a buyer takes into account monthly condo fees, these innovative cult brands are reinventing what a New York pied-à-terre can deliver. And they are helping to bring people back to Manhattan.
Brazilian hotel group Fasano is working on a Fifth Avenue “members-only private building,” which should make a certain crowd happy: The city hasn’t seen a new private club open for a century. Designed by Thierry Despont, the Fasano Fifth Avenue club will have four apartments that clock in around 3,600 square feet, plus seven Clubhouse Suites, all with views of Central Park and the skyline. Expect Brazilian contemporary furnishing, fabrics by Loro Piano, bathrooms lined in floor-to-ceiling marble, and kitchens with built-in lacquered cabinets and state-of-the-art appliances. A floor of amenities and a restaurant, Baretto New York, will service owners and members. Duplex Residences are something of a steal at $100,000 a month, though membership is required to rent one—and they are offered only by invitation.
“It has all qualities of the Fasano in São Paulo but with a New York twist,” says Despont. “I like this project because I felt like this is a place where I would like to move in. It’s a perfect place to live or stay in New York while you are there.” A staff of 40 will cater to members’ every whim.”