Branded residences are on the rise, as many wealthy buyers seek out hotel-like experiences and amenities with a fully furnished turnkey home for ease of living. The most anticipated new branded residential tower in New York is the Mandarin Oriental Residences, Fifth Avenue, which is launching its first-ever listings.
There will be 65 fully furnished residences. MANDARIN ORIENTAL
Located at 685 Fifth Avenue and 54th Street, the 29-story tower has 65 fully furnished residences ranging from two-bedrooms layouts to penthouses. New listings include a junior suite, which starts at $2.5 million; a one-bedroom, one-bathroom unit at $4.2 million; and a two-bedroom, two-bathroom unit at $7 million. Each bedroom is fully furnished and is completely turnkey for a maintenance-free pied-à-terre lifestyle.
The residences feature European five-inch white oak chevron flooring with bronze inlay; cove ceilings; full-height French doors leading to a Juliette balcony; a curated accessory package that includes home essentials from Georg Jensen, Wedgwood, and Frette; a Crestron automation system; Tillotson Design Associates lighting; custom closet systems from Molteni; and Miele washers and dryers. Other designed elements include custom-designed kitchens from Molteni with 22-karat galvanized champagne gold Dornbracht fixtures. There are also marble countertops, radiant floor heating, and beautiful MOMA Design soaking tubs.
A living room in a residence. MANDARIN ORIENTAL
The residences were developed by SHVO alongside Mandarin Oriental that created one-of-a-kind concierge residences that brings all of the hotel concierge services and perks to full-time owners. The residence tower exclusively has Boulud Privé, a resident-only restaurant from renowned French chef Daniel Boulud. Boulud will also service the rooftop pool and cabanas. There are three floors of amenities that include a rooftop pool, spa, steam room, saunas, and fitness center, plus concierge services ranging from everything like a butler or dog walker to a personal shopper or chef. There’s also a yoga studio and private salon, not to mention the ideal location is within walking distance to New York’s most iconic restaurants, shopping, and entertainment.
The restaurant terrace. MANDARIN ORIENTAL
“In the ultra-luxury market, buyers expect the best service and want to live in an environment where every need has been thoughtfully taken care of and provided for,” Michael Shvo, chairman and CEO of SHVO, tells Forbes. “To cater to them, we have created a new offer, one that aims to make their lives as carefree and luxurious as possible. The Private Residence Suites at Mandarin Oriental Residences, Fifth Avenue offer the perfect pied-à-terre solution for those who visit or stay in New York City, but want the comfort and experience of home. They are fully furnished and appointed—outfitted down to the smallest detail. This allows residents to move in immediately, and come and go as they please, while benefiting from having their own home in the heart of New York’s most prestigious neighborhood. That is a lifestyle one cannot find anywhere else.”
Shvo says there has been a strong interest from New York buyers, as well as international buyers who also are fans of the Mandarin Oriental brand that seek a residence that offers the hotel amenities they love so much. Sales will continue to list, including the select penthouses.