New York-based interior designer Jamie Drake has designed private homes for clients like Madonna and former New York City mayor Michael Bloomberg. He also designed a model residence at the uber-luxury (and uber-tall) tower One57, a favorite among billionaires and foreign investors. But most recently, he designed the model apartment at Manhattan View at MiMA, a collection of apartments which starts on the building’s 51st floor.
We caught up with Mr. Drake to talk about the importance of creating a space that feels comfortable, splurging on "everyday" objects, how design can change less-than-ideal layouts, and more.
Mansion Global: Describe your dream property.
Jamie Drake: A place that I walk into and immediately feel a "wow" moment, which speaks to me on a gut level as a place of comfort, repose and retreat. That could be in Manhattan or Paris, or St. Bart’s or the Hamptons. It could be anywhere in the world. A spectacular view is great, too.
MG: What does luxury mean to you?
JD: Luxury is not about a specific fabric or material, and it doesn’t mean gold-plated faucets. It’s about what allows you to relax and enjoy, and what puts a smile on your face. It’s really about things that are created specifically for you, and to use an overused word, bespoke.
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MG: What area do you think is the next hub for luxury properties?
JD: In New York, Hell’s Kitchen is still seeing the domino effect from Hudson Yards. In addition, I think the Far East Side, from the Gramercy Park area up will become more popular. Basically anywhere that’s centrally located, near downtown and still has opportunity for development.
MG: What’s the biggest surprise in the luxury real estate market now?
JD: All the mixed messages we’re getting about the state of the market—is it solid or not?
MG: Where are the best luxury homes in the world and why?
JD: I’ve had the great pleasure of seeing them in London, Paris, Thailand, Bali, New York and Los Angeles. There are truly amazing properties being created all over the world. There are people who are accumulating and spending wealth all over the world.
MG: What’s your favorite part of your home?
JD: When I walk in the door, I take a big, deep breath and I relax. I’m blessed with 16-foot ceilings throughout the apartment. The scale of the space is the best part.
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MG: What best describes the theme to your home and why?
JD: Urban, sophisticated, provocative. It’s full of contrasting pieces that put a smile and a question on your face. I think the overall theme is about my personality.
MG: What’s the most valuable thing in your home?
JD: The memories. I’m blessed to have wonderful art, too. But it’s really more about the events and celebrations I’ve had there.
MG: What’s the most valuable amenity to have in a home right now?
JD: A luxurious and spacious master bathroom and dressing spaces. These are spaces you really use day to day. Often I try and convince clients that the place to cut costs is not on the faucets in the bathroom, those are the things you touch every day.
MG: What’s your best piece of real estate advice?
JD: Stretch. I’ve always gone out with a budget, and spent a little bit more, but I’ve never regretted it. And don’t be too limited in your list of wants—some people only want to be in their current location. Be flexible about location and layout, too. Great design can change things.
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MG: What’s going on in the news that will have the biggest impact on the luxury real estate market?
JD: The global financial climate has a big question mark hanging over it. Since New York, especially, is so dependent on international buyers, it’ll be interesting to see what unfolds.
MG: What is the best area now for investing in luxury properties?
JD: If you’re talking about pure investments, we’re still seeing the corridor on 57th Street. That’s a continuing phenomenon of the last 10 years, Tribeca is incredibly strong, and the Financial District is doing amazingly.
MG: If you had a choice of living in a new development or a prime resale property, which would you choose and why?
JD: I don’t make any hard and fast rules. I would never want to limit the possibilities.