It's no longer enough for multifamily developers to just have a pool and a gym in their new offerings, reports MarketWatch's Lambeth Hochwald.

“Buildings are now loaded with dog runs, helipads, hotel rooms for guests within the building, private catering and event space,” says Denae Montesi, a real estate salesperson at William Raveis, a real estate firm in New York City. “Underground drive-in lobbies, private parking space and Turkish baths are also topping the lists of must haves.”

As those amenities gain popularity, others have fallen out of favor.

Amenities such as bowling alleys and golf simulators seem to be waning because no one uses those spaces and they take up valuable real estate, say Tom Postilio and Mickey Conlon, luxury real estate brokers who sell properties collaboratively for Douglas Elliman in New York.

Read more >