The future of luxury new development in New York
Leaving $1 Billion on the Table
by Jonathan J. Miller
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Curated long-term stays as the new category
We're pleased to partner with Jonathan J. Miller, President and CEO of Miller Samuel, the trusted authority on housing market analysis. Using onefinestay's bookings data, Jonathan has produced a comprehensive report examining the conditions and opportunities within the luxury new development segment. Jonathan also discusses the emergence of the new curated stay category in the context of traditional real estate.
3x rental price per square foot
We've consistently produced a near-threefold price premium per square foot over traditional leases.
Higher yields on your asset
onefinestay's bookings achieved an average yield of 5.4% vs. 2.9% for traditional luxury rentals.
Significant international exposure
onefinestay has significant international market share, with over 60% of our guests travelling from outside the US.
Opportunities for developers, pied-à-terre owners and investors
Leaving $1 billion on the table
The Manhattan development community could achieve additional revenue of more than $1 billion if only a quarter of the shadow inventory was repurposed as curated longer-term stay units.
Flexible Rental Amenity
Find out what the introduction of a flexible rental program that allows owner occupancy, but generates income, would do to the value of that property.
Leveraging the use of pied-à-terres
The unit owner would achieve 38.2% more revenue than the traditional rental option and still be able to enjoy occupancy for the period of the year they choose, all done without having to manage the property.
Find out more
If you are a developer, investor, or owner of a luxury property in New York and would like to take advantage of these opportunities, download the report and we'll get in touch with you.Download Full Report