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Savings & Retirement

New York’s Luxury Senior-Living Towers Open to Covid-Era Reality

  • Investors bet on high demand for posh housing in urban setting
  • Projects face leasing hurdles with city still mostly shut down
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'Striking' Migration Out of Manhattan Shows the City's Vulnerability

By the end of the year, New York City will get three posh assisted-living towers offering seniors spa treatments, gourmet meals and chauffeured rides along with their daily care.

The projects were built on a bet that a surging population of wealthy elders would pay hefty sums -- starting around $13,000 a month in Manhattan -- to stay near their grown children, in a vibrant urban center, when they could no longer live alone.