Upscale Buyers Turning To Luxe Turnkey Residences

Jeffrey Steele, May 16, 2023

Anecdotal evidence suggests upscale buyers are as interested in big city pieds-a-terre after the pandemic as they were before Covid’s arrival. The difference? Purchasers are tending to seek not customizable residences, but homes that feature turnkey living.

The change may flow from Covid-era supply chain uncertainties lingering longer than expected. Buyers don’t want to wait for interior design materials to become available.

The following are some of the better examples of turnkey pieds-a-terre.

ONE11 Residences at Thompson Central Park

Among properties providing all comforts of home at move-in is New York City’s ONE11 Residences at Thompson Central Park.

Bearing an address at 111 West 56th Street, ONE 11 Residences at Thompson Central Park offers 99 one-and two-bedroom condominium residences. Accounting for different buyers’ tastes, the optional Thomas Juul-Hansen-designed turnkey package provides buyers a choice of two color palettes.

“ONE11 residents can step into a fully furnished home precisely designed for the scale and dimensions of the residence,” says Stan Spiegelman, managing director of GFI Development, the property’s developer.

“Not only does Juul-Hansen’s first-ever turnkey offer impeccable style, but his layers of design bring it all together, making your place feel like home from day one. Everything can be here, in place, waiting for you.”

Raffles Hotel + Residences, Boston

Of the 146 residences at Raffles Boston Back Bay Hotel & Residences — the first North American mixed-use development for the Raffles brand — 38 are pied-a-terre homes. All are available with a choice of two separate furnishing schemes designed by Rockwell Group, Raffles Boston’s lead designer. Situated on Floors 15 and 16 of the 35-floor building, the pieds-a-terre extend in size from 430 to 639 square feet.

“Our pied-a-terre homes offer an extraordinary ownership opportunity,” says Jordan Warshaw, co-developer of Raffles Boston Back Bay Hotel & Residences, and president of Boston-based developer The Noannet Group.

“We know they will speak to a diversity of buyers, whether it is someone who wishes to be a part of all that Raffles Boston has to offer year-round, or someone who lives in Boston only a portion of the year, but wants a small, elegant home in town they can call their own. With our opening on the horizon, and the remarkable success of our 193 upper-floor homes, we anticipate record-setting demand for the pied-a-terres.”

Mandarin Oriental Residences, Fifth Avenue, New York City

This property offers pied-a-terre living in precisely the place it’s likely to be most savored. That is, in the heart of Manhattan at 685 Fifth Avenue, steps from everything people move into the city for, from legendary retail and dining options to cultural icons.

Built the year before the Depression’s dawn, the 29-story Beaux Arts building was restored and transformed from its former existence as Gucci headquarters, and offers 69 fully-furnished and amenitized residences.

Mandarin Oriental Residences Beverly Hills

Within a stroll of Beverly Hills’ famed “Golden Triangle,” the residential structure at 9200 Wilshire Boulevard represents the storied hotel brand’s introductory residential location on the West Coast. Its 54 pied-a-terre residences showcase dramatic views of Beverly Hills and the Hollywood Hills, while the amenity suite provides everything from a library and lounge to indoor-outdoor yoga and meditation spaces, and soon a restaurant helmed by Michelin-starred chef Daniel Boulud.

“We have created a unique offering by bringing Mandarin Oriental Residences to Fifth Avenue and Beverly Hills with legendary Mandarin Oriental services, fine dining by Daniel Boulud and world-class amenities,” says Michael Shvo, founder and CEO of SHVO, the developer of both. “Purchasers can move into fully appointed and furnished residences, where their every need is thoughtfully attended to.”