So far, the butler hasn’t done anything. At One Madison Park, where
the 7,577-square-foot penthouse lists for $40 million (a $5 million
reduction), the offer of free butler service for a year, along with an
805-square-foot apartment for the butler, hasn’t moved the unit since
it went on sale last year.
While seemingly over-the-top, the promotion could make sense to the
upper echelon of buyers. Some buyers at 15 Central Park West bought
less-desirable apartments in the building to house their staff.
So why not try to lure power brokers to Madison Square, which is
also developing into a chic bastion. Across the street, at the former
MetLife building (rechristened 5 Madison Avenue), Donatella Versace
will design a penthouse that is expected to sell for upwards of $48
million.
“We wanted to offer consistency in lifestyle for the potential
purchaser,” said Wendy Maitland at Brown Harris Stevens, who devised
the butler promotion at One Madison Park.
“The owner probably won’t be around 365 days a year and would need to have someone here when they’re not.”
Butler service is a relatively new high-end amenity, she said.
However, buyers who already have their own staff or want the help to
live with them can likely be accommodated.
Other developers are pampering buyers with a smorgasbord of plush
services, though they may scale back on amenities as the economy
further sours. The new Alma condo at 30 West 21st Street offers maid
service, a result of several brainstorming sessions aimed at
eliminating chores that everyone loathes doing, said Kevin Comer,
senior managing director at Beck Street Capital.
With 13 large units of around 4,000 square feet, ranging from $6
million to $10 million, his firm figured it would be wise to offer
daily and weekly maid service to residents.
Another nice perk: the case of seasonal wines, offered gratis and chosen by the sommelier at restaurant Daniel.
Other developers have adapted to leaner times. Alchemy Properties’
forthcoming 95-unit, mixed use-development at 800 10th Avenue includes
more basic amenities like a 10,000-square-foot courtyard, storage in
the basement and cabanas on the roof deck, said Ken Horn, the company’s
president.
Instead of providing unnecessary amenities, those costs are
redirected toward interior details, he said. “A lot of times, amenities
are offered as marketing sizzle, but they often don’t last in their
original form.”
Gardens constitute another amenity that has lacked staying power, said Kathryn Higgins, a broker at DJK Residential.
And the butler offer at One Madison Park seems ill-timed, she said.
“It’s not a selling point. Buyers at 15 CPW aren’t sold on a concierge,
a butler, or a trip to Hawaii; they buy the prestige of the building.”
Despite the “protracted game of one-upmanship” regarding amenities
in upscale buildings, said Tim Crowley, managing director at FLAnk,
developers are beginning to cut back due to buyer backlash.
At the Novare (135 West 4th Street) and 441 East 57th Street,
relatively small projects, said Crowley, the company is trimming costs
by installing the cyber doormen, which consist of a control panel
connected to a 24-hour remote monitoring and security service.
Deliveries are placed in private lobby storage bins.
Alluding to a potential shift toward streamlined amenities, he
said, “Developers are beginning to consider the long-term financial
health of their projects as they adapt to the times.”