In the past, renters were satisfied with a pleasant pool, free coffee within the lobby, and even a cleansing service for garbage collection. But the rich residents of today’s luxury apartments – especially in big cities – want more. Some luxury apartment buildings within the US now also offer medical wellness services comparable to intravenous fluid therapy and Botox.
“Property managers are venturing into amenities such as healthcare and aesthetics to meet the evolving demands of luxury tenants and remain competitive in an amenities arms race,” said John Walkup, co-founder of the actual estate analytics firm UrbanDigstold Assets. “Luxury means exclusivity, and developers are continuously attempting to outdo one another by offering the most recent and most unusual amenities. Yesterday’s pool is today’s pet spa – and tomorrow’s pool is the Botox [and] Rehydration lounge.”
The Arms race in amenities has been brewing for a while as renters expect more from rising apartment prices. Take, for instance, apartments in Washington, DC, which have also began offering luxury amenities like Tesla rental cars, art galleries, greenhouses, and inventive studios, in line with a 2023 study. Axios Report. “Our pandemic-induced shift to more time at home has fueled the arms race in conveniences,” Axios reporter Paige Hopkins writes. The share of New York City residential buildings offering health and wellness amenities has also increased by nearly 3.5% over the past five years, in line with data from UrbanDigs, which Assets.
Take Santa Monica Park in California, for instance, which began offering concierge IV infusion services to residents earlier this 12 months through a partnership with Drip hydrationResidents receive a reduction on IV treatments for dehydration, hangover relief, energy, immunity and wonder, costing as much as $399 per session, through the partnership.
Offering these services, performed by trained nurses, within the apartment constructing slightly than in a med-spa area “makes a huge difference for tenants who have a busy day or week ahead of them and allows them to prioritize well-being without having to compromise,” says a spokesperson for The Park Santa Monica. AssetsResidents pay for his or her services either in person within the lobby or through the park’s resident app and now have access to the salt saunas, steam baths and massages on-site upon request.
Infusions were made popular by celebrities like Adele, Jane Fonda and Chrissy Teigen just a few years ago – specifically to enhance energy levels and get well from dehydration as a consequence of the high temperatures in sunny California. These sorts of services have develop into so popular that the variety of med spas and hydration clinics has actually increased bloated right into a $15 billion wellness industry According to the American Med Spa Association, IV therapies, skincare and cosmetic treatments are offered. While Adele reportedly received treatments that cost around $200, some IVs can cost as much as $1,000 depending on the provider and placement.
Condominium buildings comparable to 53 West 53 in Manhattan are also partnering with Med Spas to supply luxury at-home services. The celebrity-loved esthetician Aida Bicaj offers spa services on this luxury constructing either within the property’s treatment room or within the comfort of your individual home.
“Access is the ultimate convenience,” says Samantha Sax, Chief Marketing Officer USA for Pontiac Land Grouptold Assets“Being able to offer residents a level of exclusivity with brands and services that are likely already part of their daily lives” is one option to enrich condo life beyond the everyday amenities.
Residents can book appointments for greater than a dozen services on the 14,000-square-foot wellness center at 53 West 53, a Pontiac Land Group property, or request in-home treatments.
“Because partnerships like this have been well received by our residents at 53 West 53, I wouldn’t be surprised to see other properties follow suit,” says Sax.
Are wealthy residents really “too busy” to personally undergo medical spa treatment?
Imagine waking up in your luxurious apartment in Los Angeles, Miami or New York. You’ve spent the evening along with your other super-rich friends – and perhaps even chatted with celebrities or drank tequila. But now you’ve got to go to yoga class within the afternoon and you’ve got a terrible hangover. That’s where mobile infusion services might help.
Other luxury apartment buildings also offer Botox, fillers and other more invasive treatments, making staying at home much more attractive.
Patients “can go home immediately after treatment without having to crowd around with red, bruised or blotchy skin,” Elizabeth Donata state-certified beautician with 20 years of experience in spas and med spas, tells Assets“The ability to retreat to the comfort of one’s own home without being surrounded by numerous onlookers is particularly attractive to those undergoing more invasive treatments.”
Home care also advantages patients because they’re less likely to have interaction in activities that might interfere with the outcomes of their treatment, comparable to exercise or alcohol consumption, Donat says.
“Patients who visit a traditional, off-site med spa as part of their daily errands are more likely to engage in activities that jeopardize their treatment, such as taking a yoga class, getting a facial or going to happy hour,” says Donat.
Is it protected to do med spa treatments at home?
As with many things within the medical world, there’s a debate in regards to the safety of IVs, Botox, fillers and other at-home medical spa treatments. Some doctors and nurses praise them, while others urge caution.
Although there have been Reports of infections and other injuries related to IV infusions and other cosmetic or vitamin injections in recent times, many patients find yourself doing well and reporting positive results comparable to improved energy levels and a cure for a hangover.
Heather HinshelwoodDoctor, medical director and owner of The Fraum Center on Hilton Head Island, South Carolina, cautions against at-home treatments for patient safety reasons. Although she “encourages” the interest and lure of spas in apartment buildings across the U.S., she says they must be led by physicians.
“I am concerned that these companies may choose the lowest bid rather than prioritizing patient safety,” says Hinshelwood AssetsFlorida and South Carolina have begun cracking down on all these services with no physician being present in response to “boutique clinics that offer patients treatment options without ever seeing a physician and the overuse of clinic managers at remote locations who are not truly involved.”
What do property managers gain from these partnerships?
Although med-spa services are still a distinct segment offering, Walkup said, they’re nonetheless a part of an “arms race mentality” to offer world-class amenities.
“If they can attract tenants who will pay higher rents, we can expect to see more buildings offering them in the future,” Walkup says. “These amenities help attract and retain affluent tenants who are willing to pay a premium for convenience and exclusivity because they see the services offered as added value. This makes the property more competitive in the luxury market and often allows for higher rents.”
In other words, multifamily properties can make more cash in the long term by offering all these amenities without having to speculate in renovations or adding more common amenities like a pool or clubroom.
Luxury apartment buildings are also more more likely to offer medical spa services to draw latest tenants, as there are simply fewer housing options for wealthier income brackets in search of a very luxurious living experience.
“Because the pool of people looking for luxury apartments is much smaller than the pool of people looking for non-luxury apartments, the competition is often much greater,” says Seamus Nally, CEO of TurboTenanttold Assets“By incorporating new, interesting and innovative amenities like this, property managers are trying to convince luxury home buyers that their building is the very best.”
