There’s a growing trend in cities all across the country—luxury buyers are gravitating to boutique-sized buildings. In response to this, many developers have shifted away from soaring skyscrapers and are instead focused on projects that are more moderate in size, yet still unmistakably high-end. Often consisting of less than 30 residential units, here are a few advantages that can be found living in a boutique luxury building.
Less Densely Populated
The main force behind this, of course, is that many city dwellers, at least temporarily, are looking for less densely populated living spaces. An intimately-sized building means that shared areas, like a lobby, wellness center,or rooftop terrace, might only be shared with 10 to 20 other people, versus a large tower with hundreds of residents.
Additionally, fewer units means more privacy, which is certainly a luxury when living in the city. Some of today’s boutique buildings have less than 10 residences, meaning you’re unlikely to see many unfamiliar faces on the property. This also adds an element of exclusivity to the building because it’s more competitive to buy into and, in turn, it can increase value.
Sense of Community
If you like to know who your neighbors are, then a small building is probably right up your alley. When you share communal areas with just a few other residents, chances are everyone will be on a first-name basis. There are, however, those who prefer to stay anonymous in their building, in which case a boutique development may not be for you.
With fewer residents to take care of, a small-scale building is often able to deliver more personalized service than one with hundreds of units. This makes it easier for building staff, such as concierge, valet attendants and doormen to remember all of your preferences and provide high-touch service that’s truly boutique.