Flag Luxury Group, the developer behind The Ritz-Carlton New York, NoMad – Manhattan’s newest luxury hospitality and culinary destination – today announced that the property’s penthouse condominium collection is 100% sold. Douglas Elliman’s The Erin Boisson Aries Team, who lead the project’s strategy and sales, sold each of the 16 pied-à-terre residences in just over a year. Every residence was sold at the asking price and with a furniture package, setting record prices for the NoMad neighborhood and creating a new market for luxury condominiums where Owners can stay up to 120 nights per year.
Built in an M1-zoned commercial district, The Ritz-Carlton Residences, New York, NoMad offer a rare condominium ownership structure doubling as a sumptuous hotel suite for guests. Owners enjoy the ease of having a pied-à-terre whenever they need – up to 120 days in a year and 29 days consecutively – and release their suite to the hotel when not in town knowing everything is expertly cared for and managed by The Ritz-Carlton. This concept has proved especially attractive to international audiences, who accounted for nearly half of the penthouse buyers.
“We knew this concept would resonate with pied-à-terre buyers because there is simply nothing else like it, but the success of sales has surpassed every expectation,” said Dayssi Olarte de Kanavos, President of Flag Luxury Group. “We are grateful for our partnership with Erin Boisson Aries and her team at Douglas Elliman, who delivered us a swift sellout and managed the entire sales process with true expertise.”
“Our clients want ease and flexibility; they want an asset that doesn’t sit empty when they’re out of town – and that’s why the penthouses at The Ritz-Carlton New York, NoMad have commanded a premium, said Erin Boisson Aries, Douglas Elliman Realty, adding that prices with furniture packages surpassed $5,000 per square foot.
“As global real estate advisors and specialists in branded residences, Erin’s team knows that today’s pied-à-terre buyer is coming into Manhattan with different needs post-pandemic,” said Howard M. Lorber, Executive Chairman of Douglas Elliman. “We congratulate Erin and her team on many levels at The Ritz Carlton NoMad: not only a swift sell-out and with over half of the buyers coming from her own network but also on achieving $5,000 a foot.”
Designed by the late architect Rafael Viñoly, the hotel is a cultural focal point within the city’s most energetic neighborhood: North of Madison Square Park (NoMad). The one- and two-bedroom penthouses encompass the top four floors of the 44-story tower, just an elevator ride away from innovative food and beverage offerings by Michelin-starred chef and global citizen José Andrés: Zaytinya, Nubeluz and a third dining destination opening this summer, The Bazaar by José Andrés. Amenities also include The Ritz-Carlton Club Lounge, The Ritz-Carlton Spa and Fitness Center, and 10,000-square feet of meeting space, including a vast outdoor terrace.
Ranging from 911 to 1,848 square feet, the custom-designed residences are oriented around dazzling city and river views, with ten-foot ceilings and generous living spaces. Poliform kitchens feature honed white quartzite countertops and backsplash, bronzed glass cabinetry, and premium Miele appliances. Lavish primary and secondary bathrooms are a personal oasis to complement the hotel’s full-service spa with deep Duravit soaking tubs, a separate shower and water closet, and Bardiglio Nuvolato marble floors and walls. All homes have a dedicated Owner’s closet for storing personal belongings while the corner two-bedrooms provide another level of flexibility with thoughtful layouts allowing for the larger primary bedroom to be partitioned off, readily creating two separate and independent living spaces.
Dedicated staff are available to handle personal arrangements, from travel coordination to pet care, and everything in between. Owners can also take advantage of the hotel’s in-house concierge.
For more information about The Ritz-Carlton New York, NoMad please visit https://www.ritzcarlton.com/en/hotels/new-york/nomad.
The Ritz-Carlton Residences, New York, NoMad are not owned, developed or sold by The Ritz-Carlton Hotel Company, L.L.C. or its affiliates (“Ritz-Carlton”). RP 1185, LLC uses the Ritz-Carlton marks under license from The Ritz-Carlton Hotel Company L.L.C.
