Leveraging Luxury Living
Though it is deliciously tempting to embrace a French proverb as luscious as “Il est impossible de trope de luxe” (It is impossible to overdo luxury), a quick survey of real estate marketing these days might persuade you otherwise. The words luxury, luxurious and the hipper “luxe” have become as common as the words “For Sale” on signs, regardless of a condo or loft’s actual attributes. And in what’s increasingly becoming the buyer’s market of 2008, developers are being forced to come up with substantial specs to back up their exuberant claims of luxury living.
Enter “technomenities,” pre-wired A/V and smart-home applications that are helping to differentiate properties. And enter Bang & Olufsen, the consumer electronics company which has perhaps more than any other, never shied away from defining itself (or pricing itself) as a luxury brand.
On a quiet, somewhat abandoned side street in the Soho section of Manhattan, a new, 12-story condo building called The Renwick is going up, offering home shoppers who are willing to part with $800K-$2 million a variety of one-, two- and three-bedroom units, some with a sunset view of the Hudson River. The new condos—advertised, as “effortless luxury”—will have familiar high-life accoutrements, from Wolf ranges and Sub-Zero fridges to an on-site garage with valet service. But they are also the first MDU residential property in the U.S. to feature Bang & Olufsen TV and stereo products as a standard amenity in every unit.
So along with a lobby library, which will house a first edition of Oliver Twist and 8-inch-plank European wood floors, Renwick condo owners will be greeted at home by a 32-inch BeoVision 8 LCD TV (with stand, a $4,500 value) and a CD/radio/SD-Card player called the BeoSound 4 with two compact bookshelf speakers, BeoLab 4000’s, a $5,600 audio combo. That’s over $10,000 of AV equipment in over 40 units, not a skimpy starter package. But B&O America’s director of sales, Domenico Palandri, said he hopes the Renwick buyers will be enticed to shop for much more at the nearby Bang & Olufsen store at 21st and Broadway.