It turns out that convincing billionaires to invest millions in luxury real estate is not the easiest sell.
In big cities across the US, glass skyscrapers and sprawling spec homes that broke ground to fanfare just years ago are now standing with empty units left to sell. Some have said there has been a slower influx of foreign capital thanks to economic instability abroad. Meanwhile, stricter regulations on all-cash, anonymous real-estate purchases — a favorite of foreign investors — have been introduced, potentially throwing some cold water on the luxury real estate boom of recent years.
As demand for multimillion-dollar properties has fallen in recent months, developers are leaning increasingly on flashy extras to attract buyers. Here, we've rounded up some of the most extravagant perks we've seen lately.
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Cars
New York City's most expensive condo is the penthouse at the Atelier condo building in Midtown Manhattan. The 10-bedroom, 13-bathroom condo, which takes up the entire 45th floor of the building, has been on and off the market for months. Though the penthouse is currently listed for $85 million, that price tag includes a number of extras, including two Rolls-Royce Phantoms and a $1 million yacht. Listing agent Daniel Neiditch of River 2 River Realty told Business Insider that he currently owns the cars and yacht, and will be signing over ownership once the purchase is complete.
In a similar vein, a luxury home developed on spec by Douglas Elliman's Oren Alexander with his father, Shlomy Alexander, is priced at $36 million — or $43 million if you opt to buy some of the amenities on offer, which include a 1948 Jaguar XK120. The home, in Miami's ritzy Bal Harbour neighborhood, was designed by award-winning architect Chad Oppenheim, who most famously worked on director Michael Bay's mansion in Los Angeles.
Yachts
The Alexanders' Bal Harbour home could also potentially come with a 55-foot VanDutch yacht, should the buyer choose to buy it.
"Our main goals were to simply create the best lifestyle experience possible," architect Oppenheim told Business Insider of the spec home's design and amenities.
Private restaurants
Residents of New York City's 432 Park Avenue will get to have a five-star restaurant all to themselves. Helmed by noted chef Shaun Hergatt, the upcoming restaurant has yet to be named and will span an entire floor of the 96-story building, which is the tallest residential building in the Western Hemisphere. Hergatt previously displayed his culinary skills at the Michelin-starred restaurant Juni, which closed in May. This time, though, his creations will only be available to those who already reside in the building.
In Miami, developers of forthcoming buildings at One Park Grove and Paraiso Bay partnered with local restaurateur Michael Schwartz to create residents-only restaurants and beach clubs.
See the rest of the story at Business Insider