Modern Home Builder - Winter 2018 - 15

Special Places
No surprise: New York sets the bar for custom
luxury homebuilding.

"Luxury" is in the eye of the beholder. The word means different things to different people depending on their individual preferences and where they live. In many parts of the
country, a $1 million home might be considered luxury.
In New York state and particularly in and around New
York City, the bar for a house to be labeled "luxury" can be
considerably higher. In metro New York, the average price
for one of these coveted properties was nearly $5 million
in the Dec. 4 "Luxury Housing Report" by the Institute for
Luxury Home Marketing. That was the highest average in
the country, comfortably above even Silicon Valley and other
West Coast real estate hot spots.
But $5 million is merely the "average" high-end home. For
some buyers, you can't even call a property luxurious until
it's listed in the seven figures. Again, New York is at the top
of the range. Of 406 U.S. properties listed at $25 million
or more in 2017, 149 (37 percent) were in New York state,
according to Coldwell Banker Global Luxury.
How does a dwelling qualify for placement in this rarefied
category, aside from perhaps having as many bedrooms as
a small college dorm? An article in realtor.com ("What is a
Luxury Home, and What Makes it So Special?") attempted to
answer that question earlier this year. The writer settled on
criteria including a prime location, premier quality ("Marble, hardwood, Venetian plaster, crystal and Miele appliances
have all become common components of luxury homes," the
writer noted), luxe amenities (Who doesn't need multiple
kitchens and their own Imax theater?), privacy and provenance; i.e., the property's backstory.
Similar qualities are evident among the companies we
profile in this special section. One is durability. After all, if
the client is going to write a check with so many zeros, their
dream house had better stand the test of time. "We build and
utilize the most quality materials available," says Oran Ben-Simon, vice president of KOSL Building Group. "It is critical to
build a quality product that you can stand behind."
Details matter, too. Marretti Stairs custom-builds its staircases of glass, steel, wood, stone or bronze. To see its beautiful products and the work of other great companies, turn
the page to begin our focus on New York luxury homes. )
Winter 2018 www.mhb-magazine.com

15


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Table of Contents for the Digital Edition of Modern Home Builder - Winter 2018

Contents
Modern Home Builder - Winter 2018 - Cover1
Modern Home Builder - Winter 2018 - Cover2
Modern Home Builder - Winter 2018 - 1
Modern Home Builder - Winter 2018 - Contents
Modern Home Builder - Winter 2018 - 3
Modern Home Builder - Winter 2018 - 4
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Modern Home Builder - Winter 2018 - Cover3
Modern Home Builder - Winter 2018 - Cover4
http://www.nxtbook.com/nxtbooks/knighthouse/mhb_vol7issue4a
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