The New Empty Nest: a Bigger, Better Condo - Dermot OBrien Group - Sotheby's International Realty Singer Island

The New Empty Nest: a Bigger, Better Condo

Baby boomers are scaling down, but not at the expense of spacious rooms, generous views and luxe amenities
by Marcelle Sussman Fischler The New York Times Magazine December 23, 2018

Downsizing is passe. Boomer buyers of luxury condominiums are not inclined to manage a large house any longer, but they’re not looking to squeeze into two-bedroom, two-bath flats either. “They want everything they have in their big house,” plus maintenance and services, says Jay Philip Parker, CEO of Douglas Elliman’s Florida brokerage.

Downsizing comes “at an emotional cost,” explains Dr. Neil Applebaum, a clinical psychologist in Fort Lauderdale, Florida. “There is a tendency now for empty nesters to be reluctant to downsize; they want to give up the responsibilities and chores of a large home but still maintain the creature comforts they are used to….and then some.”

Enter the trophy condo. Affluent buyers in their 50s and 60s are seeking to feather house-sized nests in luxe high-rises with tall ceilings, walls of glass, designer kitchens, sumptuous baths, and oversized glass-railed balconies with sweeping views. Five-star services and amenities, from valets to spas, art studios, golf simulators, and private restaurants, add to the allure.

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Dermot OBrien Group

With close to $300 Million in sales on Singer Island since 2004 (close to 250 different properties) Dermot OBrien Group of Sotheby’s International Realty Singer Island is the recipient of the 2012 Ritz Carlton Residences Power Broker Award, 2013-2014 International Property Magazine Best Real Estate Agent Florida Award and the 2017 - 2018 International Property Magazine Best Real Estate Brokerage Florida Award. Dermot was selected as the 2010 & 2011 Unique Homes Magazine Singer Island market specialist, in addition to being a 2008, 2009 and 2010 Platinum Producer for Illustrated Properties Real Estate.

Dermot has an MBA from the Kellogg Graduate School of Management at Northwestern University, a Diploma from the British Chartered Institute of Marketing and a BA from University College Dublin in Ireland. A life long learner he recently completed a Diploma in Digital Marketing from the Digital Marketing Institute. With over 35 years of experience in real estate sales, marketing, new product development and management consulting he continues to enjoy the entrepreneurial career path.