Ultra-Luxury Concierge Services Target High-Net-Worth Buyers
Ultra-luxury concierge services target high-net-worth buyers at the Ritz-Carlton Residences Miami Beach, where homes are priced from $2 million to $40 million.
Well-heeled buyers receive one-year of complementary medical concierge services valued at $12,000 from a top Miami medical practice. This is presented as a closing gift.
The Agatston Center for Private Medicine is the go-to medical provider. Ophir Sternberg, CEO and founding partner of Lionheart Capital, the development firm behind the project, saw this as an added value that would grab the attention of even the most jaded buyers.
“There is a lot of luxury development going on in Miami. We were looking to add something unique to the high-end product we are delivering while complementing our buyer’s lifestyle. The concept of a medical concierge with one-year of services and access to great doctors we saw as the ultimate closing gift,” explains Sternberg. “Buyers are really thrilled with this,” he adds.
Residents (each household member) receive an annual executive physical examination, access to the practice’s physicians via cell, text, email, office, same day visits (including immunizations and checkups), house-calls, coordination and scheduling of all specialty physician appointments, diagnostic procedures, hospital services, inpatient consultation, and supervision for patients needing hospitalization.
“We are providing a total health care approach through private medicine. The personal attention we give appeals to these buyers,” explains Dr. Arthur Agatston of the Agatston Center for Private Medicine. Agatston confides he is talking with other luxury condominium developers in Miami to add the program to their residential offerings.
This incentive appealed to Simon Mass, a Toronto real estate developer. “When we heard about this, it was a key factor in our deciding to buy there,” said Mass who purchased a 3,500-square-foot residence pre-construction. “It’s important to us as Canadian citizens to have access to the proper health care during the time we plan to spend there.”
As Sternberg implied, the need to distinguish one ultra-luxury project from another is all about innovative amenities and truly personalized services. “I’m convinced the idea of the highest level of concierge service is here to stay as well as ultra-luxury amenities because there is a lot of competition in Miami’s luxury market,” explains William Hardin, professor of finance and real estate and director of the Hollo School of Real Estate at Florida International University. “Saving people time is exactly what appeals to these buyers.”
These concierge services vary. A personal wellness assistant is offered at Amrit Ocean Resort & Residences at Singer Island in Palm Beach County. Available 24/7, residents can work directly with their personal wellness assistant on nutrition, fitness, mindfulness, sleep, and relaxation.
Head up to New York to 525 West 52nd Street, a new luxury apartment building in Hell’s Kitchen. Average monthly rents at 525 top $5,000. There, an on-site “experience curator” takes on the role of uber personal assistant. Need a hair stylist who makes house calls? Consider it done. From securing great seats for a Broadway show to hard to get restaurant reservations, Peter Sheehan, of LIVunLtd, the “experience curator,” handles it all.
“There’s an amenity and high-end services war in New York’s luxury market right now,” said Andrew Schwartz, assistant vice president of Taconic Investment Partners, developer/owner of 525. “We really can handle almost any request from managing your move-in to getting show tickets because of our partnership with top vendors,” Schwartz adds.
Look to concierge services to become more creative as competition in the luxury residential market increases.