A view of 432 Park Avenue, which is currently the tallest residential building in the Western Hemisphere.

Residents-only restaurants have been building traction as a trend in ultra-luxury condo and apartment development since the opening of 15 Central Park West’s restaurant in 2008. But 432 Park Avenue has taken the concept a step further by hiring Shaun Hergatt, a Michelin-starred chef, to run its unnamed restaurant.

Forbes believes that exclusivity and privacy are at the heart of the matter for every luxury buyer, so having access to an on-site restaurant that is entirely private is an amenity that’s here to stay.

However, Nadia Meralta, senior vice president for design and development at Douglas Elliman Development Marketing, stressed that while the trend may become more prevalent in the ultra-luxury market, it won’t become widespread, as there needs to be a critical mass of deep pockets in order to sustain dedicated, in-house private dining.

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