Real estate experts tell FOX Business why padel courts have become the sought-after amenity for wealthy homebuyers.
The latest status symbol for the elite? A private padel club.
For the top 1%, living in luxury now includes exclusive access to a private padel court, and many of them are willing to pay a premium to have it within their own building, according to Nikki Field, senior global real estate advisor of The Field Team at Sotheby’s International Realty. Field’s team at Sotheby’s has transacted over $5 billion in sales.
One of the buildings, 111 West 57th Street in Manhattan, the second-tallest residential building in the Western Hemisphere, is a prime example. The luxury residence offers 33 condos priced between $20 million and $110 million, and almost all of them are filled. One of the major draws is that it houses the only private padel court in the city.
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The sport, which is similar to squash, has surged in popularity among all age groups in all corners of the world, with many people crediting it to its lower physical intensity and social nature. With 30 million players and 60,000 courts in 130 countries, homebuyers are increasingly drawn to properties that cater to this sport, according to real estate agency Lucas Fox. As such, the courts “have become a desirable amenity, elevating the appeal of high-end homes, following the past trend of private basketball courts,” the real estate agency said.
The private padel court at 111 West 57th Street in New York City. (111 West 57th Street)
It’s a unique selling point, especially in competitive markets like New York, and it’s proven to be successful, according to Field and the owner of Miami-based Rosso Development, Carlos Rosso.
Field told FOX Business that international clients have called her specifically to confirm whether the building includes a padel court. Three of the residents are there strictly because of the court.
“This was the defining factor for them putting down more than 20, sometimes 30, sometimes 50 million in purchasing a home here,” she added.
The waiting area outside of New York City’s only private padel court at 111 West 57th Street in Manhattan. (111 West 57th Street )
The court, nestled within the building’s expansive sports club, was part of the original design plan created six years ago by the building development group, Apollo Commercial Real Estate Finance, JDS Development Group and Property Markets Group, as the sport had already picked up around the world.
Today, it’s one of the most popular amenities in the building, with residents having private lessons or playing against each other every day, according to Field.
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Rosso is also tapping into the growing demand for padel courts with his two latest projects.
He told FOX Business that while developers once prioritized amenities like tennis courts, they quickly realized that padel and pickleball courts were a far more compelling selling point. Rosso’s firm was quick to seize the opportunity, incorporating the trend into two of their Miami developments currently under construction.
A pickleball court inside Rosso Development’s The Standard Residences in Miami, Florida. (Rosso Development)
“The reality is that for these buildings you can place two padel courts for every tennis court that you build because of the size.” he said, adding that the company is “always trying to find the new carrot to attract buyers to our projects.”
One of his buildings, The Standard Residences, a 12-story building that features 228 pied-à-terre-style residences, comes with 34,000 square feet of amenities across five floors. One of them is a fully air-conditioned indoor pickleball court decked out with disco balls, bleachers and sightlines into the karaoke bar and fitness rooms.
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“It really worked as a marketing tool,” Rosso said, adding that the company already sold 225 out of 228 units in less than a year. Construction is slated to wrap up this year.
An aerial shot of courts located at Midtown Park Residences by Proper. (Midtown Park Residences by Proper)
His second site in Miami, which is also currently under construction and set to be completed in 2028, will have an even bigger focus on the sport.
Midtown Park, a $2 billion five-acre property in the city’s Midtown neighborhood, will be equipped with a public racquet and padel club featuring eight courts, curated programming and hospitality-driven experiences. The first residential tower in the master plan, Midtown Park Residences by Proper, will offer residents exclusive access to a private pickleball court on its seventh-floor amenity deck.
“We think that that is going to attract a lot of potential buyers. It’s going to help accelerate our sales, and it’s going to be a very unique distinguishing amenity,” Rosso said.
