The Rafael Viñoly-designed Penthouse Residences at The Ritz-Carlton New York, NoMad Are 50% Sold

Rhea-AI Summary

Douglas Elliman reports strong sales performance at The Ritz-Carlton Residences, New York, NoMad, with 50% of the luxury penthouses sold before the hotel opening. All contracts were signed at full asking price, achieving record prices per square foot in the area. The limited collection features top-floor penthouses designed by Rafael Viñoly, ranging from $4 million to $7.2 million. The hotel emphasizes a flexible ownership model, and residents benefit from expert management by The Ritz-Carlton. Eight penthouses remain available, highlighting high demand and market interest.

Positive

• 50% of the penthouses sold before hotel opening, indicating strong demand.
• All contracts signed at full asking price, achieving record prices per square foot.
• High-profile collaborations with Michelin-starred chef José Andrés for culinary offerings.
• The flexible ownership model allowing residents to leverage their investment.

Negative

• None.

Douglas Elliman's Erin Boisson Aries Team Leads Record-Setting Sales for Full-Service Penthouses atop New High-Design, Luxury Oasis with Culinary Offerings by José Andrés

NEW YORK, Aug. 22, 2022 /PRNewswire/ -- Flag Luxury Group, developer of The Ritz-Carlton Residences, New York, NoMad – Manhattan's most anticipated luxury hospitality and culinary destination – today announced that 50% of the property's Residences are already in contract. Douglas Elliman's Erin Boisson Aries Team is leading sales for the limited collection of 16 perfect pied-à-terre penthouses where buyers enjoy breathtaking views and unmatched luxury experiences while also benefiting from owning a condo that, when not in use, can be expertly managed by The Ritz-Carlton. It was also announced that every contract was signed at the full asking price, and at the highest prices per square foot ever achieved in the neighborhood

"Buyers are coming into New York City with a more global perspective, seeking a foothold while also honoring a flexible lifestyle that isn't tied to one place. The Ritz-Carlton Residences, New York, NoMad offer a pied-à-terre that's tailor made for this audience – a full-service trophy penthouse you own but that can be managed by the hotel when not in town," said Erin Boisson Aries, Douglas Elliman Realty. "It's telling that half of the condominiums sold before the hotel even opened and for record-setting prices. Buyers are eager to secure their penthouse residence before prices rise and with so few opportunities remaining."

The hotel and residences together create a cultural focal point within the city's most energetic neighborhood: NoMad (North of Madison Square Park). The limited edition one- and two-bedroom penthouses encompass the top four floors of the 44-story tower by architect Rafael Viñoly. Ranging from 911 to 1,848 square feet, the custom-designed homes are oriented around picture-perfect helicopter views framed by One World Trade Center and both rivers, with high 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.

Curated for the ultimate city pied-à-terre lifestyle, the penthouses elevate the everyday experience while also doubling as a sumptuous suite for guests. Owners enjoy the ease of having one of the most deliberate and flexible pied-à-terres ever designed in New York City. They can access their penthouse whenever they need– up to 120 days a year and 29 days consecutively – and can leverage their purchase through the hotel when not in town, knowing everything is expertly cared for and managed by The Ritz-Carlton. All residences have a dedicated owner's closet for storing personal belongings. For additional flexibility, the corner two-bedroom penthouses can be seamlessly transformed into two private suites, making it easy for Owners to adapt the space based on their needs.

Coming home to Manhattan is an artful experience when you live at The Ritz-Carlton New York, NoMad – with the brand's signature personalized service at your fingertips and the finest culinary and wellness amenities just an elevator ride away, or hand-delivered to your door. 

The hotel opened last week and is already receiving acclaim, particularly for its unique food and beverage partnership with Michelin-starred chef and global citizen José Andrés. Zaytinya, located on the ground floor, presents an innovative mezze menu and creative cocktails in a magical space designed by Rockwell Group. Also by Andres, Nubeluz, located on the rooftop is a glittering jewel box designed by Martin Brudnizki Studio (of Annabelle's in London), where sweeping, unparalleled views complement classic cocktails, light bites and an array of Tablas from Andrés' native Spain. The Lobby Lounge and Bar is ideal for a quick pastry and coffee, an afternoon glass of champagne, or nightcap. A third dining destination will open later this year, The Bazaar by José Andrés. Perhaps most exciting for residents, chef José Andrés will also be curating the in-residence dining menu for Owners.

Amenities also include the Club Lounge for relaxing and working while experiencing dedicated concierge service and a variety of culinary offerings throughout the day. The signature Ritz-Carlton Spa and Fitness Center includes a range of treatment rooms, sauna and steam rooms, with luxury skincare treatments from Augustinus Bader. The hotel has a range of both large and informal business meeting spaces, including a vast outdoor terrace, with banquet and catering offerings also curated by Andrés. 

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. 

"The penthouse residences at The Ritz-Carlton New York, NoMad, combine the extraordinary service and experiences the brand is known for with a once-in-a-lifetime opportunity to own a piece of a new landmark hotel. We are thrilled with the response and encourage buyers to act quickly with availability now extremely limited," said Dayssi Olarte de Kanavos, President of Flag Luxury Group. 

Only eight penthouses are still available for purchase. Current pricing for a one-bedroom, 1.5-bathroom starts at $4,000,000 and at $7,200,000 for a two-bedroom, 2.5-bathroom. Initial occupancy is anticipated this October.

For more information about at The Ritz-Carlton Residences, New York, NoMad, located at 25 West 28^th Street, please visit www.rcpenthousesnewyork.com or contact 212. 418.2044.

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.

About Douglas Elliman Inc.

Douglas Elliman Inc. (NYSE: DOUG, "Douglas Elliman") owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies in the United States with operations in New York City, Long Island, Westchester, Connecticut, New Jersey, the Hamptons, Massachusetts, Florida, California, Colorado, Texas and Nevada. In addition, Douglas Elliman sources, uses and invests in early-stage, disruptive property technology ("PropTech") solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets. Additional information concerning Douglas Elliman is available on its website, www.elliman.com.

Investors and others should note that we may post information about Douglas Elliman on our website at www.elliman.com or, if applicable, on our accounts on Facebook, Instagram, LinkedIn, TikTok, Twitter, YouTube or other social media platforms. It is possible that the postings or releases could include information deemed to be material information. Therefore, we encourage investors, the media and others interested in Douglas Elliman to review the information we post on our website at www.elliman.com and on our social media accounts.

About The Erin Boisson Aries Team

Led by global real estate advisor Erin Boisson Aries, the Erin Boisson Aries Team at Douglas Elliman advises private clients and prestige developers in buying, renting, selling and creating the world's most exceptional properties. Together, these trusted agents represent unbridled talent, creativity and all-encompassing market knowledge that has led to over $2 billion in sales. As experts in the entire luxury residential ecosystem, the team's repertoire ranges from landmarked townhomes to new construction penthouses, with a distinct specialty for luxury new development and hotel-branded residences designed for discerning audiences. The Erin Boisson Aries Team has spearheaded sales and marketing efforts for some of the hospitality industry's most high profile five-star brands and their residential and extended stay components, including The Ritz-Carlton Residences, New York, Nomad, Fasano Fifth Avenue, 401 West – The Collection, Fasano Las Piedras, and The Reserve at Mayakoba.

Prior to joining Douglas Elliman in 2022, the Erin Boisson Aries Team launched the real estate advisory practice within Christie's New York and is recognized by the Wall Street Journal as the second top team in New York City and fourth in the country.

About Flag Luxury Group

Flag Luxury Group is a privately held real estate development company headquartered in New York City with a primary focus on luxury hotels and residences as well as land-based entertainment and retail projects. Flag Luxury was formed in 1997 by Dayssi and Paul Kanavos, who were driven by their passion for luxury hospitality and their desire to bring a forward-thinking perspective to the industry. Our ability to identify, acquire and build world-class projects in premier gateway city locations has established us as a leading development company in our industry.

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-rafael-vinoly-designed-penthouse-residences-at-the-ritz-carlton-new-york-nomad-are-50-sold-301609983.html

SOURCE Douglas Elliman Realty

FAQ

What is the status of sales for The Ritz-Carlton Residences, New York, NoMad?

As of August 2022, 50% of the luxury penthouses have been sold before the hotel opening.

How much do the penthouses at The Ritz-Carlton Residences cost?

Pricing starts at $4 million for a one-bedroom penthouse and $7.2 million for a two-bedroom penthouse.

Who is leading the sales for The Ritz-Carlton Residences?

Douglas Elliman's Erin Boisson Aries Team is leading the sales efforts.

What makes The Ritz-Carlton Residences a unique investment?

The residences offer a flexible ownership model with expert management by The Ritz-Carlton when not in use.