These developers are now paying tens--and sometimes hundreds of thousands--of dollars to public relations and marketing firms to organize and host an expanding list of exclusive social events for future residents who have put down hefty deposits to pre-purchase units sometimes years ahead of delivery dates.

Erik Kaiser, president of New Jersey-based Remi Cos., a real estate investment, management and development company, argued that merely labeling a development as "luxury" no longer offers any sort of competitive advantage.

"The word 'luxury' is the most overused and generic term [in multi-housing]. [Using it in marketing material] no longer has an impact in the market," said Kaiser, whose company is currently developing Velocity, a $60 million, 128-unit luxury boutique condominium in Hoboken, N.J. on the site of a former tow-yard.

And while Kaiser is hardly stinting on his common-area and in-unit amenities--which include a heated parking garage, a 25,000-square-foot landscaped courtyard, a 24-hour concierge, gourmet kitchens, stainless-steel appliances, marble bathrooms, high-speed Internet and HDTV installations--he believes that it is some of the intangible amenities he's offering that will give the project an edge.

For example, Kaiser treated his buyers to an $125,000 ground-breaking party in January that included having a celebrity house music DJ flown in from San Francisco for the night. Voss water, Grey Goose vodka and Bacardi rum were among the party sponsors. The event was conceived and created by "the apartment," an ultra-hip design firm based in New York City.

"In the market today, you have luxury buildings, but few include a [matching] lifestyle component. We're constantly providing that lifestyle component to our buyers," said Kaiser, who refers to his buyers, who are typically aged 25 to 45, as "Remi insiders."

"I'm 34, so I have a unique connection with the market; I know what [my demographic] wants," said Kaiser. "No one else is identifying my contemporaries in this manner. All we're doing is reaching out to our contemporaries and supplying them with a product they desire in the fashion they expect."

Kaiser said his challenge is to "stay five steps ahead" when it comes to organizing exclusive events for his early-bird buyers. He's currently eyeing fashion design shows and the International Contemporary Furniture Fair as his next VIP treats.

"We want to be way ahead of the pack," he said.

Units at Velocity range from 1,050 to 1,609 square feet and sell for $500 a square foot. Ninety-two units will be two-bedroom/two-bath, 28 will be one-bedroom/one-bath and eight will be three-bedroom/ three-bath. Delivery is scheduled for early 2006.

Chicago Chic

And it isn't just communities in the immediate orbit of status-obsessed New York that are rewarding clients with experiences that money can't always buy.

In the Midwest, anyone who takes a home in the exclusive Michigan Avenue landmark district at Metropolitan Tower, a 474-foot high rise famous for its 20-foot beehive crown with a blue light, also gets guaranteed entry to a tony world of yacht clubs, fine dining and contemporary art.

Louis D'Angelo, president of Chicago-based Metropolitan Properties of Chicago LLC, said since pre-selling began in the fall of 2004, his company has catered to buyers with a series of special events.

The company paid $20,000 in catering and other costs to treat future residents to a cocktail reception overlooking scenic Buckingham Fountain in Monroe Harbor and has also picked up the tab for dinner vouchers at the trendy Park Grill restaurant in the city's new 24.5-acre, $475 million Millennium Park.

And buyers got a chance to satisfy their art appetites with company-supplied VIP passes to Art Chicago, a four-day art fair featuring international modern and contemporary artwork.

"It's not cheap, but it's money well spent," said D'Angelo, whose company helped sponsor the annual art event. The marketing buzz from happy buyers helped drive additional traffic to their doors, he added.

"We had people coming in from Art Chicago who had not been aware of the development. They stopped by and were very pleased at what they saw," observed D'Angelo, adding that the building is 40 percent sold-out.

The property, originally built in 1924 and designed by architectural firm Graham, Anderson, Probst & White, was once the headquarters of Enclyclopaedia Britannica Inc. and is now being converted from office space to residential as part of the current influx of residential housing at the eastern edge of downtown Chicago. Metropolitan Properties acquired the property in 1977 when D'Angelo's father, Dino D'Angelo, purchased it from CNA Insurance.

When completed in 2007, the $170 million project will include 243 units on 37 floors with panoramic views of downtown Chicago. Units will include one-, two- and three-bedroom condos; two-, three- and four-bedroom townhomes; and full-floor penthouses with private elevators.

Prices are expected to start in the low $300,000s and reach to more than $1 million.

D'Angelo said next on the company's to-do list is a party for buyers at the Chicago Yacht Club and the Chicago Corinthian Yacht Club.

"Most of our [clientele] are very sophisticated buyers who are very aware of cultural attractions in the area," said D'Angelo. "It's important for this building to have a dialogue with what's happening along Michigan Avenue, in the parks and to be involved in the yacht club."

Californian Dreamin'

Buyers at luxury properties costing million of dollars, expect to be treated very well, said Rick Cavenaugh, president of Chicago-based Fifield Cos.

And as future residents of The Californian on Wilshire, a $200 million, 80-unit condo project going up on Wilshire Boulevard's famed Golden Mile in Los Angeles, are paying $1.5 million to $6 million to buy a slice of the ultra-luxurious high rise, they need to be made to feel like movie stars while they wait to move in.

Buyers at the swanky residence have been invited to wine and cheese parties and an exclusive viewing party at the J. Paul Getty Museum complete with dinner and cocktails--all paid for by Fifield Cos.

"It was an event that was commensurate with the sophistication and status of our buyer profile," said Cavenaugh, who estimated the cost for the buyer perks and the services of the public relations firm that organized the event at $25,000 to $50,000.

"This is a building whose finishes and services will exceed any other high rise along Wilshire Boulevard; it creates a new standard for the market," said Cavenaugh.

Units will range from 2,700 to 8,000 square feet for a penthouse unit. Each unit will have a private balcony and feature floor-to-ceiling windows and 10-foot ceilings, with the two penthouses on the top three floors having 12-foot ceilings. A controlled-access elevator system will open directly to individual private residences.

Community amenities at the 24-story building will include a state-of-the-art fitness center, pool and spa area; card room; movie room; club room; executive business center; wine cellar in the basement; and private storage for each home. The three-level, 225-space parking garage will have around-the-clock valet parking for residents.

The property will offer panoramic views of the Santa Monica Mountains, Los Angeles International Airport and the Pacific Ocean.

In addition, help will be only a bell ring away with a 24-hour concierge, doorman and security.

Miami Condo Hires Famed Promoter to Provide Access to A-List Events

Miami--Here's yet another reason to buy a unit in a condo: Access to celebrities.

Ten Museum Park here is taking concierge service to the next level by hiring nightlife promoter Michael Capponi to spirit its residents into exclusive hot spots and events across this action-packed city--and major metropolises around the world.

According to the developers of Ten Museum Park, a slender, 200-unit luxury condominium tower, Capponi will share with residents his exclusive access to the world's best clubs and restaurants, as well as hard-to-get-into special events.

"The arrangements are as simple as contacting Capponi's office through the touchpad in [each] residence," says the community's sales brochure.

Capponi, who has been electrifying the local A-list scene for more than 15 years, was the driving creative force behind the nightlife renaissance of Miami's South Beach.

Ten Museum Park, now rising on 1040 Biscayne Blvd., is located in an up-and-coming area of the city adjacent to museums and performing arts centers, explained Chad Oppenheim, who is architect and also co-developer of the 50-story project. Nevertheless, the location is somewhat removed from South Beach--the epicenter of tropical Miami's cool scene.

So the reason the developers are contracting the services of Capponi is that it is an innovative way to link residents with the internationally known hot spots of Miami. "Our idea was to add a level of panache and clout by bringing Michael Capponi into the building," said Oppenheim.

Capponi will be an integral part of the condo's concierge program, which will provide the basic services such as making restaurant reservations. Ten Museum Park will also feature a nightclub and lounge presented by Capponi, which will host his signature A-list events.

"You'll see a lot more of such arrangements" between condos and nightlife promoters, said Oppenheim. Social-event promoters are beginning to "tie in" with the upscale lifestyle being offered by condominiums, he observed.

Condos at Ten Museum Park will sell from $400,000 to more than $4 million. The unit mix ranges from one bedrooms to penthouses, and the condos will measure from 800 to 4,000 square feet. All of the condos have been pre-sold, said Oppenheim, whose firm, Oppenheim Architecture and Design, is the architect of the project.

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