The 234 Apartment

Manhattan is about to become a testing ground for what could be the next luxury real estate boom . Well, maybe mini-boom, considering the rather narrow target group : frail urban seniors with fat bank accounts . Developers are spending hundreds of millions on high-end assisted- living apartment projects , one on the Upper East Side and one in Midtown, and aiming for more in the area and across the U.S. The bet is that there are sufficient numbers of the affluent and aging in big cities who won't want to leave their neighborhoods, even as they suffer cognitive decline . It is, of course, a rather small group of any age or mental ability that can handle the monthly rents these kinds of places will command. They'll start at $12,000 at the complex that Maplewood Senior Living and Omega Healthcare Investors Inc. are putting up on Second Avenue and 93rd Street. Some will top more than $20,000 at the building Welltower Inc. and Hines are about to break ground for on the corner of ...

(Bloomberg)—Manhattan is about to become a testing ground for what could be the next luxury real estate boom . Well, maybe mini-boom, considering the rather narrow target group : frail urban seniors with fat bank accounts . Developers are spending hundreds of millions on high-end assisted- living apartment projects , one on the Upper East Side and one in Midtown, and aiming for more in the area and across the U.S. The bet is that there are sufficient numbers of the affluent and aging in big cities who won’t want to leave their neighborhoods, even as they suffer cognitive decline . It is, of course, a rather small group of any age or mental ability that can handle the monthly rents these kinds of places will command. They’ll start at $12,000 at the complex that Maplewood Senior Living and Omega Healthcare Investors Inc. are putting up on Second Avenue and 93rd Street. Some will top more than $20,000 at the building Welltower Inc. and Hines are about to break ground for o...

UPPER WEST SIDE , NY — This six-bedroom, six-bathroom apartment is the largest renovated unit ever listed for sale in the Upper West Side 's historic Apthorp Building . The refurbished home features soaring ceiling heights , new oversized windows and floors of American Oak hardwood plank with decorative mahogany inlay throughout the apartment. Check out more photos of the home below, and see the full listing on realtor.com. 390 W End Ave Unit 2LM , New York, New YorkPrice: $18,500,000Square Feet: 6110Bedrooms: 6Bathrooms: 6 BathsBuilt: 1908Features: This impeccable grand residence is the largest renovated home ever offered for sale at the historic, landmarked Apthorp Apartments . Elias Associates, one of New York Spaces top 50 design firms of 2016, executed the renovation incorporating the highest level of detailed millwork and finishes, which complement the grand scale of The Apthorp architecture . Noteworthy features include soaring ceiling heights , new oversized windows ...