PARTNERS IN PROPERTY: OLIVER BANKS
We had the pleasure of catching up with Oliver (Ollie) Banks, Partner at Knight Frank, Head of US Residential Developments. In this blog, Ollie takes us behind the scenes of his global property journey, reveals why The Waldorf Astoria NYC has his heart, and settles the debate: London, Dubai or the USA — which gets his vote?
Hi Ollie! Tell us about your journey at Knight Frank – from London to Dubai and now leading US Residential Developments. What have been the highlights so far?
I joined Knight Frank over 10 years ago, driven by a desire to experience life overseas, having travelled very little growing up. My career here has taken me all over the world - from three years in the Middle East, where I travelled extensively across the region, to later selling property across our European network. Now, leading US Residential Developments, I’ve had the privilege of working on some of the most exciting real estate projects globally.
With your global experience, how do US and European prime residential markets compare? What are buyers looking for in each?
The scale of developments in the US is on another level. Projects often exceed 100 units, allowing developers to offer world-class amenities, often within branded residences that provide an extra layer of luxury and service. In contrast, European developments tend to be more boutique, often involving the restoration of historic buildings that bring incredible charm. We’re now seeing an exciting rise in branded residences across Europe, which is adding an exciting new dimension to the market.
You’ve been instrumental in securing world-class projects, including our upcoming collaboration with Accouter at The Waldorf Astoria in New York City. What excites you most about developments of this caliber?
In my opinion, nothing rivals the iconic nature of The Waldorf Astoria. Spanning an entire city block in prime Midtown Manhattan, it’s set to reclaim its status as a landmark and meeting place. With the hotel reopening soon, I can’t see another development matching the sheer scale and quality of its restaurants, meeting spaces, spa, and wellness facilities. It’s a true icon in the making.
How has working with Knight Frank Interiors added value to your clients and the developments you represent?
Many of my clients want a turnkey product with a seamless, high-end experience, and Knight Frank Interiors delivers exactly that. Your teams ability to provide a truly bespoke service ensures that properties don’t just feel like a generic luxury apartment - you reflect the personality and lifestyle of the owner, making them more desirable as both a home and an investment. That level of customisation can make a real difference when it comes to resale or rental value.
The world of prime residential developments is constantly evolving. What trends are shaping the market in 2025 and beyond?
The biggest trend is health and well-being, not just in individual units but as part of the overall amenity package. From air and water filtration systems, noise-reducing materials in the residences to next-level wellness facilities. Developers are going beyond the traditional gym and pool to offer cold plunge pools, meditation rooms, in-house nutritionists, and wellness tech all on tap!
Another major shift is the rise of private club memberships within developments or reciprocal agreements that provide residents with exclusive access to curated experiences, high-end dining, and a strong sense of community. This social aspect is becoming a key differentiator in new-build luxury.
For buyers investing in a turnkey luxury property, what are the key factors influencing their decisions?
Many clients are building global property portfolios, not just for investment diversification but to future-proof their options on where they or their families may want to live and spend time. A lot if this is also being driven, believe it or not by their children by purchasing properties in locations where their children may want to study, work or simply in enjoy in the future.
As property portfolios grow, many are turning to smaller residences in fully serviced buildings - and it’s easy to see why. These turnkey homes offer security, convenience, and a completely hassle-free ownership experience. They're a smart choice compared to juggling multiple larger, standalone properties, which can be expensive to maintain and often bring added security concerns. In well-managed developments, everything is taken care of - giving you peace of mind and more time to enjoy what matters most.
What do you enjoy most about collaborating with KFI on projects?
Your conversion rate is outstanding which says it all. Your ability to create a seamless client journey gives me full confidence in recommending them. Knight Frank Interiors’ constant feedback loop between the client and myself ensures transparency, and knowing my clients are in the safest hands makes all the difference.
Finally, what’s next for you and the US Residential Developments team at Knight Frank? Any exciting projects on the horizon?
New York continues to set the standard for world-class developments, offering breathtaking views, top-tier amenities, and the best construction quality. However, with limited inventory in the pipeline, I suspect the biggest growth will be in Los Angeles. Historically, LA has been a house market, but with increasing climate challenges, we’ll likely see a surge in exciting new condo developments.
While our core focus remains New York, expect to see more expansion into Florida, Texas, and California as these markets continue to evolve and become more appealing to the global elite.
Favourite city for luxury real estate?
New York City - no other place offers the same energy, scale, and level of opportunity.
Best piece of property advice you’ve ever received?
It’s a classic: "Buy the worst house on the best street, not the best house on the worst street." Location is everything. This applies to new-builds too—owning even the smallest unit in a top-tier development will hold its value.
Dream residential development to work on?
A super-luxury project in Australia. I’d love to learn more about the market - and let’s be honest, a post-work dip at Bondi Beach wouldn’t be bad either!
Favourite way to spend a weekend off?
Somewhere coastal. Morning coffee with an ocean view, a long lazy seafood lunch with too much rosé, a fabulous sunset and absolutely no emails until Monday!
NYC or London – and why?
At times, you just need that New York energy. But for me, it’s still London- it offers the full package, and I love that you can hop to Paris, Florence, or Barcelona at the drop of a hat.
Ultimate dinner party guest (past or present)?
James Brown—I’m sure he’d have some good stories and I’d need some entertainment/dancing at some point in the evening!
Describe your ideal home in three words.
Sunset. View. Please.
Wherever you may be across the globe, if you're a client in need of interior assistance, feel free to get in touch with our team.