/New York City ranks among top retirement destinations: survey

New York City ranks among top retirement destinations: survey

New York City ranks among top retirement destinations: survey

Millennials want bigger homes than boomers do

December 22, 2018 12:00PM

Welltower and Hines are developing a pair of senior-living facilities in Midtown and on the Upper West Side

The city that never sleeps may not be a bad place to hang things up.

New York City ranked No. 4 among the top destinations where Americans want to live when they retire, according to a new survey.

Provision Living, which operates senior-living communities, asked 2,000 people about their dream retirement.

Miami, with its warm weather and sunshine, was the No. 1 choice for future retirees. San Diego and Denver came in No. 2 and No. 3, respectively.

The average size of the ideal retirement home measured 1,635 square feet, with millennials preferring larger homes than baby boomers do.

In New York City, meanwhile, investors are increasingly looking to deliver luxury homes for seniors. Welltower and Hines are planning their second senior-living facility in the city on the Upper West Side. And the Related Companies is planning to build $3 billion worth of luxury apartments for seniors across the country. [Provision Living] — Rich Bockmann