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Home»Finance»We are entering the “convenience race” in luxury apartments: IVs and Botox without leaving home
Finance

We are entering the “convenience race” in luxury apartments: IVs and Botox without leaving home

May 26, 2024No Comments7 Mins Read
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Residents of rental homes used to enjoy a nice pool, free coffee in the lobby, and even trash pickup service. But the rich living in today’s ultra-luxury apartments – mostly in big cities – want more. Now, some luxury apartment buildings in the US have begun offering medical spa services such as IV hydration and Botox.

“Property managers are venturing into services like healthcare and aesthetics to meet the growing needs of luxury renters and stay competitive in the arms race,” John Walkup, co-founder of a real estate analytics company. Urban excavationstells Luck. “Luxury means exclusivity, and developers are constantly striving to outdo each other by offering the latest and most unique amenities. Yesterday’s pool is today’s pet spa, tomorrow’s pool is Botox. [and] rehydration room.”

convenience, arms race has been brewing for some time as renters have come to expect more from rising apartment costs. Take apartments in Washington, D.C., for example, which have also begun offering luxury amenities including Tesla rentals, art galleries, greenhouses and creative studios, according to the 2023 forecast. Axios report. “Our pandemic shift to spending more time at home has fueled an arms race in amenities,” he said. Axios the reporter Paige Hopkins writes. The share of multifamily properties in New York City that offer health and wellness services has also increased by nearly 3.5 percent over the past five years, according to UrbanDigs data. Luck.

Take Santa Monica Park in California, for example, which earlier this year began offering concierge IV services to residents through a partnership with Drip humidification. Residents receive a discount through the partnership on IV treatments for hydration, hangover relief, energy, immunity and beauty, costing up to $399 per session.

Offering these services, provided by registered nurses, in an apartment building rather than a medical spa “makes a big difference for renters who have a busy day or week ahead and allows them to prioritize their health without having to compromise.” — says a representative of The Park Santa Monica. Luck. Residents pay for their services either in person at the lobby or through the park’s Resident App, and also have access to salt saunas, steam rooms and massages upon request.

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IV drips have become popular among celebrities like Adele, Jane Fonda and Chrissy Teigen did a few years ago – specifically to boost energy levels and recover from dehydration due to high temperatures in sunny California. These types of services have become so popular that the number of medical spas and hydration clinics has increased. has grown into a $15 billion wellness industry. offers IV therapy, skin care and beauty treatments, according to the American Med Spa Association. Adele reportedly received treatment that cost about $200, but some IVs can cost up to $1,000 depending on the provider and location.

Apartment buildings such as 53 West 53 in Manhattan are also partnering with medical spas to offer luxury in-home services. Favorite Celebrity Facialist Aida Bicaj offers spa services in this luxurious building either in the hotel’s treatment room or in its own apartment.

“Access is the ultimate convenience,” Samantha Sachs, the company’s US marketing director. Pontiac Land Grouptells Luck. “The ability to offer residents a level of exclusivity through brands and services that are likely already part of their daily lives” is a way to enhance condominium living beyond the typical amenities.

Residents can sign up for more than a dozen services at the 15,000-square-foot wellness center at 53 West 53, which is owned by Pontiac Land Group, or can have treatments delivered to their home.

“Since these types of partnerships have been well received by our residents at 53 West 53, I would not be surprised if other properties follow suit,” says Sachs.

Are wealthy residents really “too busy” to indulge in spa treatments in person?

Imagine waking up in your luxury apartment in Los Angeles, Miami or New York. You spent the night with your other super-rich friends and maybe even rubbed elbows or shared tequila shots with celebrities. But you have to go to yoga class this afternoon and you have a bad hangover. This is where mobile IVs can come in handy.

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Other luxury apartment buildings also offer Botox, fillers and other more invasive services, making staying at home even more appealing.

Patients “can go home immediately after treatment without having to deal with crowds of people with red, bruised or blotchy skin.” Elizabeth Donathsays, a licensed cosmetologist with 20 years of experience in spas and medical centers. Luck. “The ability to have privacy in the comfort of your own home without having to face many onlookers is especially appealing for those undergoing more invasive treatments.”

Home-based services also benefit patients because they are less likely to engage in activities that could harm treatment outcomes, such as exercising or drinking alcohol, Donat says.

“Patients who visit a traditional medical spa as part of their daily routine are more likely to engage in activities that compromise their treatment, such as taking a yoga class, getting a facial, or going to happy hour,” says Donat.

Is it safe to have a spa treatment at home?

Like so much else in the medical world, there is debate about the safety of IVs, Botox, fillers and other at-home medical spa treatments. Some doctors and nurses are singing the praises, while others are more cautious.

While it was reports of infections and other injuries associated with IV drips and other cosmetic or vitamin injections over the past few years, many patients end up feeling well and reporting positive results such as Increased energy levels and hangover cure.

Heather Hinshelwooddoctor, medical director and company owner Fraum Center on Hilton Head Island, South Carolina, warns against at-home treatment from a patient safety perspective. While she’s “encouraged” by the interest and appeal of wellness options offered in apartment buildings across the U.S., she says they need to be physician-led.

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“I’m concerned that these companies may choose the lowest price rather than prioritizing patient safety,” says Hinshelwood. Luck. Florida and South Carolina have begun cracking down on such walk-in services in response to “boutique clinics offering care options to patients without ever seeing a provider and the overuse of remote clinic directors who do not have meaningful involvement.”

What do property managers get from this partnership?

While medical spa services are still a niche offering, Walkup says, they are still part of an “arms race mentality” to provide top-notch services.

“If they can attract tenants to pay higher rents, expect to see more buildings offered to them in the future,” Walkup says. “These amenities help attract and retain affluent tenants who are willing to pay more for convenience and exclusivity as they view the services offered as added value. This makes properties more competitive in the luxury market and often allows them to command higher rents.”

In other words, apartment buildings can make more money in the long run by offering these types of amenities without having to invest in renovations or installing more common amenities like a pool or club room.

Luxury apartment buildings are also more likely to offer medical spa services to attract new tenants because there are simply fewer housing options for wealthier segments of the population looking for an ultra-chic getaway.

“Because there are significantly fewer people looking for luxury apartments than non-luxury ones, the competition is often a little stronger,” Seamus Nally, CEO of the company TurboTenanttells Luck. “So, incorporating new, exciting and inventive amenities like these is a way that property managers will try to convince luxury apartment buyers that their building is the best.”

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