AdvertisementIn doing so, they have etched out a new niche at the most rarefied heights of the residential market, in part by persuading buyers who might have lavished millions of dollars – or more – to rent instead.
Rental projects, on the other hand, while less lucrative upfront, offer more stability for owners with a long time horizon.
It recently reconsidered the plan based on the success of the building's rentals, Aries said, and is now offering the penthouse unit for rent.
A guest room at a Maison Hudson luxury apartment Kira Turnbull for The CollectionBased on the success of Maison Hudson, Wainbridge is planning identical projects in Los Angeles and Miami Beach, according to Oudinot.
Advertisement"The demand is thin and high and very volatile" at the top of the residential market, according to Nancy Packes, a real estate advisor and broker.
Persons:
—, Ken Griffin, –, Maison, Tyrone McKillen, McKillen, Maison Hudson, Kira Turnbull, Jay, Beyonce, Erin Boisson Aries, Douglas Elliman, Aries, Maison Hudson Kira Turnbull, Maison Hudson's, Mikhail Kurnev, Kurnev, Jacques Oudinot, Barths, Oudinot, Wainbridge, Nancy Packes
Organizations:
Service, Business, Maison Hudson, Bel Air, Wainbridge, Miami
Locations:
Manhattan, West, Los Angeles, Maison, London, Fasano, Paris, Saint, St, Maison Hudson, Miami Beach