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21

Manhattan Gets $20,000-a-Month Homes for New Breed of Seniors

By Tony Seruga

Silver tsunami will double the population of 80-somethings
People needing memory care an under-served cohort in borough

Manhattan is about to become a testing ground for what could be the next luxury real estate boom. Well, maybe mini-boom, considering the rather narrow target group: frail urban seniors with fat bank accounts.

Developers are spending hundreds of millions on high-end assisted-living apartment projects, one on the Upper East Side and one in Midtown, and aiming for more in the area and across the U.S. The bet is that there are sufficient numbers of the affluent and aging in big cities who won’t want to leave their neighborhoods, even as they suffer cognitive decline…

Manhattan Gets $20,000-a-Month Homes for New Breed of Seniors

Categories : Real Estate

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