Three Experts on Luxury and Amenities
Booth: Light, Space, and Rooftops
In a recent interview with Larry Booth, Lucy Chen Blatter of Mansion Global ask Booth, “What does luxury mean to you?” He answered, “light and space, particularly in New York, where you don’t have any of it. Chicago has some of it.”
When asked about the most valuable amenity to have in a home right now, he answered, “It’s about Community. The amenity is the community.” “We’re finishing a building in Chicago, on Lake Shore Drive, that has an amazing rooftop. It’s like a country club on your roof. We didn’t do the balconies because no one uses them.”
“Spend money on the building. Spend as much as you can on architecture and on space and light. Because it never loses its value.”
Larry Booth of Booth Hansen
Boissier: Freedom, Protection, and Wellness
For Luxury hospitality designer Dorothee Boissier of the firm Gilles & Bossier, Paris, “Luxury is linked to freedom, and feeling protected, too. It’s also something that brings you wellness. It can be simple, but it makes you feel well.” (Blatter, Mansion Global, June 10, 2019) Ms. Boissier also says a boat is the most incredible way to be hidden and still in the city, to travel the world, and be able to stay in great luxury.”
In her opinion, the most valuable amenity to have in a home right now is a garden.
Kotchen: WiFi, Wellness, and Comfort
For New York Architect, Andrew Kotchen, also interviewed by Lucy Chen Blatter this month, Luxury is an experience and not an aesthetic, “It’s about comfort.”
When asked what the most valuable amenity to have in a home right now, Kotchen says, “Other than good Wi-Fi, which is the biggest thing people complain about, the most valuable amenity in projects we’re doing now is a wellness component, gyms and light therapy spaces.”
Not everything we do is in the luxury category, but we can still dream and try to add some of these priceless features into our fix-n-flip or fix-n-rent projects, like space, light, wellness, a garden, and a rooftop.
We offer asset-based and experience-based loans for long-term rental projects, including multi-family projects with the following terms: min FICO 650, BPO required, Up to 85% of purchase price, Cashout/Refinance up to 65% LTV (BPO), Max of 80% ARV, Interest rates starting at 6.5%, and points as low as 2.25%.
Give me a call or send an e-mail.
Patrick StCin, 512-213-2271,
e-mail: patrick@REICapital.cash le 4 Acc