Hip to be Small
Security Products When people think of Manhattan, they usually envision soaring high rises equipped with white-gloved doormen or charming and luxurious prewar brownstones. Yet within the last year, the real estate market has seen a rise in a new and exciting breed of buildings — what many are dubbing “the boutiques.” A growing pocket of new buildings, as well as older refurbished ones, have created a resurgence of interest from homebuyers and sellers within Manhattan. These boutique buildings, usually with less than 40 units and consisting of younger, tech-savvy clientele, are smaller than their more traditional counterparts, yet have fetched record prices for developers and homeowners alike. Why the trade in taste? It’s all about demographics. For this clientele, these smaller buildings provide a much more intimate and personalized feeling without the high costs associated with maintaining the traditional amenities offered in older full-service buildings. In addition, these high-end buyers are looking for some degree of anonymity from their neighbors and the doorman and prefer the smaller set-up.