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Home Features New Yorkers Will Pay Extra For

Smart Home Features

Sellers are often hesitant when it comes to upgrading a home before the sale. This is understandable considering that they won’t be living there. Besides, remodeling and staging a home can be expensive, so it is important to ensure any investment is put towards features/finishes that will likely reap a return. A home upgrade done wisely can help you sell your NYC home faster and for a much better price. Namely, there are certain home features New Yorkers will pay extra for. Hence, sellers with a tight remodeling budget should focus primarily on those features.

Must-have home features New Yorkers will pay extra for

Energy Efficient Features

It’s not a secret that New York is a pricey city. Energy efficiency is one of the home features New Yorkers will pay extra for precisely because it saves a ton of money in the long run.  Naturally, home buyers who want to limit their utility bills are drawn to energy-efficient properties. But that’s not the only type of buyers interested in this home feature. Due to the increased environmental concerns, energy efficiency has become a priority unrelated to cost-trimming. Energy efficient heating and air conditioning, eco-friendly appliances, low emission windows and extra insulation are all among the home features New Yorkers pay extra for.

Technologically Advanced Features

Today’s home buyers, especially the younger generations, are rapidly adapting smart home technology and are willing to spend extra cash on it. Smart home features are no longer found only in NYC’s most expensive homes. They have become more common and affordable to the average buyer. Tech-savvy buyers look for things like high-tech, programmable thermostats they can control via different mobile devices, key-less locks they can access via Bluetooth, and total programmable entertainment systems.

Pet-friendly Home Features New Yorkers Will Pay Extra For

The number of proud pet owners in NYC is increasing. Many home buyers are willing to pay extra for a pet-friendly home. Although keeping pets like cats or dogs is not allowed everywhere, buildings with pet amenities can be found across the city, including some of Manhattan’s most prestigious neighborhoods. Things like integrated crates, gates and built-in bowls are more sought-after than ever before. Amenities such as dog washing salons, spas, dog training studios and indoor playrooms where dogs can mingle even if it’s rainy outside are some of the features dog lovers look for these days.

Storage Space

Space in NYC comes at a premium. Square footage is expensive; space is a luxury many New Yorkers dream of having. Therefore, they are willing to pay extra for a home that provides enough storage space for their belongings. Even if it’s a small home we’re talking about, there are ways to add storage space in every room and make it more functional. Internal storage in the form of cupboards and shelves is something buyers appreciate, as well as closets that have been upgraded by the likes of California Closets to maximize usage of space. A suburban home with under-house storage, a large shed or garage is also likely to attract buyers who are willing to pay extra.

Walk-in Closet

Speaking of storage space, a walk-in closet in a master bedroom is becoming one of the features home buyers want most. While singles want to keep all of their clothes, shoes and accessories in one place, couples often want more closet space because they will be sharing it. A walk-in closet also makes it easier to organize your stuff and provides a cleaner look. So, if the home you are selling does not have this feature, consider converting a smaller room into a custom walk-in closet.

Walk-in Pantry

A walk-in pantry is a must-have kitchen feature, especially for families with children. A lot of kitchens lack space for storing things like non-perishable food items and kitchenware. While reach-in closet pantries provide limited space, a walk-in pantry offers a larger, better organized storage area just a few steps away from the food preparation area, making it a perfect extension for your kitchen.

Hardwood Flooring

In comparison to carpets, hardwood is both more durable and easier to maintain. Pure hardwood flooring can last a lifetime when maintained properly. Engineered wood flooring is a cheaper option you might want to consider when working with a tighter budget, whether you are preparing to sell or buy a home in NYC, especially if the money you'll need for your NYC move does not leave you much choice.

Multiple Entertainment Areas

Many buyers like to have more than one room where they can spend time with their family and friends. If you are a buyer who wants multiple living/entertainment areas, you’ll need to pay extra for this feature. Afterwards, you can get your piano to Manhattan with ease, add some comfy sofas, and create an elegant area ideal for entertaining guests.

Outdoor Space

It is not only the home’s interior NY buyers are interested in. Living in a concrete jungle sure makes you appreciate greenery and outdoor space. Thus, a backyard, rooftop deck, terrace, or even a tiny balcony can increase the price of a home significantly. And if the balcony comes with a beautiful view - even better.

5 Most Expensive Homes Currently on the Market in New York City

New York Real Estate is viewed by many as one of the most competitive luxury markets in the world. There is much talk about the luxury market slowing down, but on the ultra-luxe end, there is no shortage of unique, ultra-pricey listings. From townhouses to penthouses, we rounded up a countdown of the five most expensive properties presently gracing the NYC real estate market. 

*All listings and image of respective listing agents/brokers

#5- 25 Columbus Circle, PH80

Photo: Corcoran/Deborah Grubman

Photo: Corcoran/Deborah Grubman

Related CEO Stephen Ross listed his Penthouse high above Columbus Circle in the Time Warner Center for $75 million. This has been Ross’s residence since Time Warner Center was initially completed. The interiors are designed by Tony Ingrao, who interestingly enough, have done the interiors at Related’s 35 Hudson Yards. He has customized virtually all aspects of the home.

Listed By Deborah Grubman Corcoran

#4- 45 East 22nd Street PHAB

Photo: Douglas Elliman/Noble Black, Holly Parker

Photo: Douglas Elliman/Noble Black, Holly Parker

Perched on over 13,000 square feet of living space above Madison Square Parks green space, this gorgeous triplex penthouse located at 45 East 22nd Street could be yours for a mere $77,700,000. Sprawled out over three top floors of this luxury building the penthouse features two separate studio apartments for staff, two parking spaces, access to all the buildings amenities including a golf simulator, gym, and a playroom, and not to mention the 360° views of all of Manhattan. With floor to ceiling windows and incredible entertaining space, this apartment is perfect for dinner parties and having guests over. Despite the interior concepts of Lee Mindel, Ryan Korban, and Thomas Juul-Hansen, the condo is being sold as a blank canvas for the owner to have the ability to truly make it their own.

Listing Courtesy of Douglas Elliman - Noble Black & Holly Parker

#3- 134 Charles Street

Photo: Bespoke Marketing

Photo: Bespoke Marketing

Back on the market a year later with an additional $30 million tacked on, meet 134 Charles Street. An 18,000 square foot single family home converted from a warehouse space. This listing, owned by investor Ciaran O’Kelly first popped up in 2014 on the market for a whopping $47.5 million after having purchased the building for 17 million and 2008 and giving it extensive renovations. Boasting an infinity pool, a 47-foot garden space, and a roof deck this apartment has returned once again for $80 million.


Listed By Zachary Vichinsky of Bespoke Real Estate

#2- “Le Penthouse” 172 Madison Avenue

Photo: Keller Williams NYC

Photo: Keller Williams NYC

Boasting every amenity imaginable Le Penthouse, located at 172 Madison Ave, comes in second with a price tag of $98 million. This 11 bedroom, 14 bathooom Skytop mansion is going for $4,945 per square feet, giving you almost 20,000 square feet of living space (4,500 of which are outdoor). The apartment boasts a private rooftop deck featuring a jacuzzi and a 67-foot salt water pool in addition to a gym, a pet spa, a playroom and much more. 

Listed By Raphael Sitruk and Efraim Tessler of Keller Williams

#1- “The Pinnacle” The Woolworth Building

Alchemy

Alchemy

Coming in as number one of the five most expensive listings currently on NYC’s market is the Woolworth buildings “the Pinnacle Penthouse” for $110 million which sits nearly 700 feet above the City. This penthouse is spread out above five floors featuring an elevator giving the owner easy access to all five levels. The Pinnacle first hit the market in 2017 and if sold anywhere near the asking price, it will break the record of most expensive sale ever downtown with the previous titleholder, a property at Chelsea’s Walker Towers selling for $50.9 million back in 2014. 

Alchemy Properties had to conduct extensive work to the Pinnacle before bringing it to market as the crown previously held maintenance equipment for office tenants below. Work included adding additional windows and replacing nearly 3,500 damage terra cotta on the facade. 

Besides being located in the iconic Woolworth building, this apartment boasts 360° degree views of the city, a 400 sq ft observatory, and 24-foot ceilings. 

New Renderings Give a Peak Inside the Luxe Residences from Aman in New York

Much buzz has been created over the past few months since the announcement that Aman Resorts would be opening its first urban residences in New York, at an iconic address, The Crown Building (57th Street and 5th Avenue)

While other buildings rising along 57th Street have garnered attention because of their height, pricing, and other features, Aman has quietly released new renderings of the project, and they are simply stunning! Based on the look inside, these homes are truly delivering the vision of an oasis in the middle of urban chaos.

Aman New York is slated to open its doors in 2020, bringing 83 rooms and suites in addition to 22 private residences. It’s been reported by the Wall Street Journal that nearly half of the private residences have already sold, despite being listed. It is rumored that asking prices start at $4.65M

About the Residences

For the Condo portion, there will only be 22 residences. As of now, we know that some homes are slated to have terraces as well as private pools. All of them come with access to a suite of ultra-luxe amenities. There is expected to be a Sky Lobby, members club, piano bar, wine library, cigar bar, a members-only jazz club and 2 restaurants. Arva will be serving Italian fare while Nama will be Aman’s interpretation of Japan’s washoku dining tradition.  

Living Room

Living Room

Aman Residences Master Bedroom.jpg

The Aman Club will encompass 3 stories of the building with a 75-foot pool, hot and cold plunge pools, fire pits, hammams, salon, gym, and juice bar. Based on the renderings, this Club will be a true representation of the Aman brand and the serene and luxurious spas for which it is known the world over.

Pool Terrace

Pool Terrace

Cigar Lounge

Cigar Lounge

 About Aman:

Aman Resorts are located around the world in both remote and urban settings, known for their meticulous design to frame their natural settings. People love Aman Resorts for the space and privacy that they offer.

Aman started in 1988 with the first location being on Phuket’s West Coast. It was named Amanpuri which means “place of peace.” From that, the Aman name was born. Today, there are 33 resorts, hotels, and private residences across 21 countries.

All Renderings Courtesy of Aman

5 New Developments Coming to Market in Manhattan this Spring

Spring is typically a bustling time for the housing market, and this season has been no exception. Activity has picked up from Q1 lulls across multiple tiers of the market, but we have been observing good momentum in the luxury sector specifically.

The New Development market in New York City continues to have a pipeline of impressive projects. From a Buyer’s perspective, inventory has never been better. New Development projects are offering the best amenities, design from starchitects and renowned interior designers, as well as concessions to Buyers. Now is a great time to explore new development as a Buyer. Developers are competing amongst each other for the same set of Buyers in many instances so there are deals to be had.

Just as the market picks of the Spring, so too is New Development. Here are some of the most notable projects coming to market in Manhattan during Spring 2019.

The Centrale

The Central NYC.jpg

Midtown is experiencing a wave of development, and The Central is part of it. The tower will rise 803 feet and is designed by Pelli Clarke Pelli. Interiors will be done by Champalimaud Design who has also done the interiors at The Kent. The 124 residences will be a mix of 1 through 5 bedrooms with pricing starting around $1.825 million.

Amenities at The Centrale include a lounge with fireplace, 75-foot lap pool, fitness center, and attended garage.

The Hayworth

The Hayworth.jpg

Located at the corner of Lexington Avenue and 87th Street, The Hayworth will bring 61 apartments to the Upper East Side. The building, rising 21 stories, will be a mix of 2 through 5 bedroom homes with multiple penthouses.

AD100 architect Lee Mindel will be doing interior at the Hayworth. Residents will enjoy a suite of amenities including a music and dance studio, fitness center, and rooftop terrace with fireside seating.

Pricing anticipated from $3.5 million

100 Franklin Street

100 Franklin Street.jpg

DDG Partners (you may recognize them from 180 East 88th Street) is bringing a boutique collection of Condos to TriBeCa nearby the Roxy Hotel. This spring, the 10 full floor homes, inclusive of 2 penthouses, are expected to come to market with pricing from $3.3 million.

The development is actually comprised of 2 buildings that are joined together. Amenities include bicycle room and storage.

The Park Loggia

Park Loggia NYC.jpg

If you love the Upper West Side, but do not want to live too far up, The Park Loggia is the ideal location. The SOM-designed tower, located on Broadway at 61st Street, just above Columbus Circle, will offer a convenient location and is set to bring 172 residences to the neighborhood.

Apartments will span the gamut in size, ranging from Studios to 4-bedrooms. Pricing is expected to start around $1 million and go up to over $10 million. The amenity package will be sizeable, at 20,000 square feet. Amenities will include a game room, theater, café, music performance rooms, a fitness center, and children’s playroom.

35 Hudson Yards

35 Hudson Yards NYC.jpg

The tallest residential building within the Hudson Yards development debuted its lavish apartments on March 15th. 35 Hudson Yards is home to 143 apartments which start at $5 million. The apartments start on the upper floors of the tower with the world’s fist Equinox Hotel occupying the bottom floors.

35 Hudson Yards is designed by David Childs and Skidmore Owings & Merrill with interiors by Tony Ingrao. No detail has been spared on residence interiors such as the custom kitchens designed by Tony Ingrao in collaboration with Smallbone of Devizes.

The amenity suite is equally as lavish. Residents will enjoy 22,000 square feet devoted to wellness and entertainment. Amenities include yoga, playrooms, Grand Terrace and Dining Room, event space, and access to the Equinox which will have both indoor and outdoor pools.

All Photos via respective developments

Pied-a-Terre Tax Looms Over New York City Luxury Real Estate Market

Thought taxes in New York City couldn’t get any higher? Think again. The Pied-a-terre tax is back on the docket, and it has recently gotten some major support that pushed it further along than what it was last a topic of discussion in 2014.

Ken Griffin made headlines when he purchased a penthouse at 220 Central Park South for $238 million, making it the most expensive home in the country. He plans to use the home when he visits his New York office. This headline also caught the attention of City Council who started discussion on the Pied-a-terre tax once again.

So, what is a Pied-a-terre and the proposed tax?

A pied-a-terre is a part-time second home occupied for less than half of the year. Often times, it is an investment for the owner and may not be occupied. Given that the owner’s primary address is elsewhere, owners of a pied-a-terre in New York are not subject to state or local income tax.

The current proposal has a sliding tax surcharge and fee for homes priced $5 million and over, with higher priced homes incurring higher fees. City and State officials cited that they feel this additional tax is necessary to fund the failing mass transit system in New York City.

 Cause for Concern

Regardless of whether you think it is fair to tax the rich disproportionately or not, a proposed tax plan should be assessed in regard to economic impact before being implemented. From a real estate perspective, there is cause for concern based on the proposal of a pied-a-terre tax in New York City.

International Buyers: International Buyers have already been on the decline in recent years, and the implementation of a pied-a-terre tax would likely prevent some would-be foreign buyers from investing in New York.

 Luxury Condos and Co-Ops: We would likely expect to see some sort of downtick in the luxury segment of the market. Just because a buyer can afford a $5 million apartment, does not mean they spend frivolously and love taxes. Why would they invest in New York when they could invest in another viable city that does not impose a pied-a-terre tax?

The luxury segment of the market has already been under pressure in recent years, so another tax could additional pressure that is not needed in this sector.

 New Development: An adverse impact on the Luxury Market would likely spill over to the New Development pipeline for luxury properties. If there is a decreased demand overall for properties $5 million and up, why would Developers be incentivized to build properties that may not sell? This, of course, would then have an impact on all the employment created within the construction sector when development is booming.

High Costs to Transact: New York City is one of the most expensive places to transact on property without the additional pied-a-terre tax. Costs associated with a real estate transaction in New York City include Transfer Tax, State Transfer Tax, Mortgage Recording Tax, Mansion Tax, and Real Property Taxes. Not to mention, under the new Federal Tax Code, the deduction of SALT has been eliminated.

 Overall, if the tax were to have an adverse impact on the real estate market for properties $5 million and up, we would likely see a reduction in value at the high end of the market. This may especially may be the case for properties that are already valued/priced near the $5 million threshold as Buyers will submit bids under $5 million to avoid the tax.

Image via Getty Images

35 Hudson Yards: Here's What We Know

All Images Courtesy of Related Oxford

All Images Courtesy of Related Oxford

The long await and anticipation of Hudson Yards is almost over, with the Grand Opening scheduled for next week. We have been following the development and progress of what is America’s largest Real Estate development project. From Condos and Rentals to dining and shopping, Hudson Yards will be a true epicenter of the Far West Side. In fact, a new neighborhood has even popped up on the radar dubbed “SoHY”, or South of Hudson Yards.

We covered the launch of 15 Hudson Yards, one of the residential condominiums that is part of the project, and now, we are learning details about 35 Hudson Yards which is expected to launch sales next week along with the Grand Opening. If you thought 15 Hudson Yards was luxurious and jaw-dropping, wait until you see 35 Hudson Yards.

Here’s What We Know:

35 Hudson Yards is designed by David Childs and Skidmore Owings & Merrill with interiors by Tony Ingrao. The building will rise 92 stories, making it the tallest residential building within the Hudson Yards project. There will be 143 residences starting on the 53rd floor and ranging in size from 2 to 6 bedrooms. Pricing is anticipated from $5M.

Residences:

35 Hudson Yards Condo Related Oxford

Residences range in size from 1,500 to 10,000 square feet. They will feature gracious entry foyers and ample wall space for art. Ceilings are 11 feet. In regard to finishes, there will be smoked oak flooring throughout the homes. Luxurious kitchens are designed by Tony Ingrao in collaboration with Smallbone of Devizes and feature Gaggenau appliances, white opal marble counters, and high gloss stained Eucalyptus cabinets.

35 Hudson Yards Kitchen Smallbone
35 Hudson Yards Condo Bedroom
35 Hudson Yards Master Bathroom Related Oxford

Homes are sure to offer stunning and sweeping views of the Manhattan Skyline and of the Hudson River.

Amenities:

35 Hudson Yards Amenities

Residents of 35 Hudson Yards will enjoy a host of amenities and hotel-style service. There will be 22,000 square feet devoted to wellness and entertainment. In addition to this space, the building will be home to a 60,000 square foot Equinox as well as the world’s first ever Equinox Hotel.

  •  6th Floor entirely devoted to amenities including yoga, playroom, fitness

  • 24th Floor will be the Grand Terrace and Grand Dining Room, an event space that can accommodate more than 50 guests

  • Residents enjoy access to the Equinox which will have an indoor and outdoor pool with large sundeck and cabanas

  • Priority reservations at the building’s restaurants

  • On-site concierge that can arrange thing such as in-room dining and ground transportation

35 Hudson Yards Event Space

In addition to the in-building amenities, residents enjoy all the amenities that come along with calling Hudson Yards home – there will be myriad world-class dining and shopping options, including New York City’s first Neiman Marcus.

Stay tuned for more information about the Grand Opening of Hudson Yards!

Luxury Amenities are Going to the Dogs - In the Best Way Possible

Owning Pets in NYC

Owning a pet in New York City can be challenging – Will they get enough outdoor space? Who is going to walk them when you are putting in long work days? Will the building I want to live in even allow pets? As more and more New Yorkers get pets, these questions have become ever more important for Developers looking to attract well-off city dwellers. So, are the amenities going to the dogs? Yes – but in the best way possible! 

If you are looking to ensure your dog is living its best life, there are buildings across Manhattan that are offering your canine companion the best of the best when it comes to amenities and services. The buildings below, of course, allow residents to have pets, but the first step in searching for a home in New York when you have a pet is letting your Broker know. Some buildings do not allow pets at all, while some only allow cats, or have some restrictions related to size and breed.

We’ve rounded up some of the buildings with the best Pet Amenities across town-

Waterline Square

Via

The Starchitect-designed Waterline Square project features a host of amenities, of which lavish pet amenities are included. The good news is, whether you choose to live in One, Two, or Three Waterline Square (perhaps based on your preference for architects including Richard Meier, Kohn Pederson Fox, or Raphael Vinoly), you will have access to the Waterline Club which includes over 100,000 square feet of amenities.

For your four-legged friend, the Waterline Club will offer an indoor playroom for dogs to socialize as well as a dog washing salon and dog training studio. 

50 West Street

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Rising tall above lower Manhattan at 778 feet, 50 West Street is a new development glass tower that arrived with the wave of revitalization happening Downtown. While residents will enjoy stunning River and Harbor views from the homes as well as luxe amenities for themselves, pets will be able to enjoy a dedicated amenity space as well – 200 square feet for the pets to be exact.

Additionally, 50 West has partnered with a top-notch Vet and Groomer so you don’t have to worry about where to take your pet. They will make house calls right to the building. Rumor has it the Groomer is the same one that fashion designer Isaac Mizrahi uses.

 

15 Hudson Yards

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Hudson Yards has a lot of buzz surrounding it – from it being the biggest development project to more intricate details of businesses and stores moving into the area, this project is seriously transforming the Far West side of Manhattan. Part of the project includes both Rental and luxury Condominiums. 15 Hudson Yards has received a lot of attention as a condo within the project.

The luxurious building from Realted Companies will offer Residents access to services from Dog City. Related Companies founded Dog City in 2011 when it launched inside MiMa in Midtown Manhattan. The company offers onsite boutique pet services for building residents ranging from everything from grooming and walking to play dates. Annual membership starts around $250 with services such as Grooming being an additional premium at time of service.

555 Ten

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This Midtown Rental building from Extell offers, perhaps, some of the best pet amenities that can be found in the city. 555Ten is an Extell building, and Extell is known for their extensive and over-the-top amenity offerings throughout their buildings – think One Manhattan Square!

If you want your pets to be able to live their best life, 555Ten offers everything to help make that possible. Amenities for pets include a Pet Spa and Veterinary Clinic by Throw Me a Bone. There is also a daycare facility and covered outdoor play space to ensure your dog gets the outdoor time it deserves.

Throw Me a Bone offers services including walking, training sessions, 2-hour play sessions, house call vet visits, and “Yappy Hour” where your dog can meet its fellow neighbors.

252 East 57th Street 

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Worldwide’s 252 East 57th Street may be located conveniently to the Second Avenue Promenade, but the building is also ensuring your pet can get pampered without having to leave the building. 252 East 57th Street is home to Spot 57 Play Space and Grooming Bar.

Spot 57 offers residents and their pets an array of services from walking to daycare. Additionally, there is an interactive play space for dogs to mingle and play on those rainy or snowy days when getting outside is difficult. In need of grooming? That’s also possible at the grooming station which included convenient sitting so you can wait while your pet gets pampered.

Greenwich West Launches in SoHo

110 Charlton Street.jpg

SoHo, historically known for its converted luxury lofts and lack of amenity filled buildings is experiencing a new wave of development, bringing luxury condos outfitted with full amenities to the neighborhood. One particular area, Hudson Square, has become an enclave for luxury developments in SoHo. Greenwich West is the latest luxury development to bring a full-service building to SoHo. 

Located at 110 Charlton Street, Greenwich West will rise 290 feet tall and be comprised of 170 condos. The development just launched sales, and we were among the first to get an inside look during their launch event.

Sebastien Segers Interiors

 Greenwich West is designed by a collaboration between two Parisian Firms – Loci Anima and Sebastien Segers. Adamson Associates is the architect of record for the project. The design team was inspired by the iconic industrial architecture of West SoHo but applied an infusion of classical French inspiration. This is especially evident in the interiors which are warm and inviting, yet do not lose their “downtown” feel and modernism.

Greenwich West Interior.jpg
Greenwich West 110 Charlton.jpg
Greenwich West Interiors.jpg

Residences will range in size from Studios to 3 bedrooms with prices starting at just under $1M. Construction is currently underway and is expected to wrap up in 202.

Greenwich West will offer a suite of amenities to residents including fitness center, lounge, rooftop terrace, bicycle storage, automated parking, and a children’s playroom. Additionally, given the buildings location, we expect the views of the Hudson to be beautiful from high floor units.

Questions about Greenwich West and luxury living in SoHo? Contact us for more information and pricing!

Rendering via Familiar Control

Condos with a Luxe Perk: Residents-Only Dining

We’ve written about the lavish amenity offerings that have changed luxury real estate in a landscape where high-end inventory is up and competition among new developments is tough. Some of the most exclusive buildings offer residents a unique experience, one that will cost you even more than a SoHo House membership since admission will require the purchase of a unit in the building…residents-only dining.

Amenities are an extension of the residents’ homes, and restaurants take this to a new level with sophisticated private dining by top chefs only available to residents and their guests. These types of buyers look for convenience, but do not want to sacrifice quality to achieve that. These restaurants allow busy people with demanding careers to come home and not worry about cooking, hosting business lunches, or catering a dinner party.

432 Park Avenue

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432 Park Avenue made a name for itself as the tallest residential building in the Western hemisphere as well as for its tall prices for units in the building. The building amenity package is unrivaled, with the exclusive restaurant occupying the entire 12th floor. The restaurant is headed by Michelin-starred chef, Shaun Hergatt. In addition to the interior dining room, the space also has a 5,000 square foot terrace overlooking 57th Street which can be reserved for private events. If you aren’t in the mood to eat in the restaurant on the 12th floor, in-residence dining is also available.

15 Central Park West

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15 Central Park West made a splash among the world’s elite as it quickly became an “it” address recognized across the globe upon completion. It set the bar high in terms of luxury offerings, including a private restaurant for residents and their guests. The restaurant at 15 CPW debuted before that of 432 Park Avenue. The building describes the dining offering as a “private dining service with an in-house chef provides full catering for Fifteen Central Park West residents desiring anything from a four-course custom menu for 80 guests to an at-home romantic dinner for two.”  The restaurant is known to host special meals year-round including women’s lunches with speakers covering varying topics and a special brunch on Mother’s Day each year.

Jade Signature

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The trend of resident-only dining is not confined to New York. One of the latest luxury high-rise to hit the shores of Sunny Isles Beach, just north of Miami, has embraced the exclusive trend as well. Jade Signature, designed by famed architects Herzog & De Meuron, offers a truly luxurious amenities package which allows residents to experience resort-style living on the shores of South Florida. The Jade Signature Beach Bar & Grill so residents can dine pool and beach side without having to head back their residences. The experience is similar to that of many beachfront hotels.

Featured Listing: Jade Signature - 16901 Collins Avenue, #4905

16901 Collins Avenue

3 BED | 4.5 Bath | $4,495,000

Stunning high floor north east corner residence with breathtaking direct ocean, Intracoastal and city views. This home in the sky features 2,929 square feet of interiors and 806 square feet of terraces, 3 bedrooms, 4.5 bathrooms, study plus maids quarter, private elevator entry.  Residence comes fully finished with white marble floors and finished closets, gourmet kitchen with European designer cabinetry by Snaidero, top-of-the-line appliances by Gaggenau. Jade Signature, designed by Pritzker Prize-winning architects Herzog and de Meuron with interiors by French design firm PYR led by Pierre-Yves Rochon, offers five-star amenities with full-service spa and fitness center, concierge services, resort style swimming pool, library, resident lounges, chef's kitchen, full-service restaurant and much more

LEARN MORE ABOUT THIS LISTING

Is Downtown Driving the Luxury Market?

Financial District Manhattan

We’ve written many articles on the resurgence of downtown, from the luxury buildings along The High Line, to the rebirth of Lower Manhattan in the post 9/11 era. While Midtown developments, such as 423 Park Avenue, have certainly broken headlines for record prices, or price cuts on resales in buildings such as One57, downtown has provided much support for the overall Manhattan market. Midtown continues to see high prices for unit while volume has seen an uptick downtown.

During the middle week of May, Olshan reported a staging figured that showed the influence of downtown Manhattan on luxury transaction. Of the 21 contracts signed during that week for properties priced $4M and above, 10 were south of Midtown. Of the volume in Mid-May, nearly 50% was driven by properties in downtown Manhattan.

Why Downtown?

Buyers are flocking to Lower Manhattan for various reasons ranging from inventory, to empty nesters downsizing and looking for a new pace of life, to easy access to some of the best shopping and dining in the city.

Selection of New Development inventory in Downtown Manhattan is extensive in all neighborhoods, and these projects are bringing the most coveted architects and interior designers coupled with luxurious amenity offerings. The High Line is dotted with new buildings from the likes of Zaha Hadid and Soo Chan. In Flatiron, 45 East 22nd Street has been creating buzz and offers some of the best views of the city. Tribeca has a flurry of new projects including New York’s first Four Seasons Private Residences at 30 Park Place, the Woolworth Tower Residences, and many others such as 30 Warren and 108 Leonard Street. Meanwhile, the Financial District has welcomed 50 West Street and looks forward to the arrival of One Seaport and 130 William Street.

130 William Street coming to Lower Manhattan  via

130 William Street coming to Lower Manhattan via

In addition to a variety of inventory, Lower Manhattan is attracting buyers with cultural offerings as well. The best stores and restaurants have all opened spaces from SoHo to the Financial District. Additionally, new luxury hotels such as the Four Seasons and The Beekman offer a swanky place for guests to say and locals to frequent.

The Seaport is experiencing perhaps the biggest revitalization – we previously discussed the overall redevelopment of the neighborhood after it was battered by Hurricane Sandy. Most notably, Mr C is slated to open very soon. This will represent the Cipriani family’s first hotel venture in New York City after is launched the Mr. C brand in Beverly Hills in 2011. The hotel, which will be run by Ignazio and Maggio Cipriani, will have 66 rooms, a Cipriani restaurant, and is being designed by Thomas Juul-Hansen.

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More Coming Downtown:

More exciting things are coming to downtown as it continues to establish itself as a culinary, entertainment, and shopping destination. We are continuing to track the development of the Seaport District and have the latest timeline of events.

Seaport Timeline:

June: Pier 17 opening with rooftop restaurant. Initial schedule of performers and entertainment released

July: Concert series returns to the Seaport with the Chase Sapphire outdoor bar now open. District wide events will be taking place

September: 10 Corso Como slated to open as well as Jean-Georges opening

November: A Winter Village pop-up is set to be installed for the season along with the opening of Momofuku

Want to Live Downtown?

The Victoria Shtainer Team currently as an exclusive rental opportunity on the market at the brand new 50 West Street designed by Helmut Jahn. Our listing, Unit 20B, is one of only a handful in the building that features a double-height living space with soaring 20' ceilings. 

50 West Street

50 West Street, 20B | 3 Bed | 3.5 Bath | $14,995/MO

We have access to all the hottest inventory in Downtown Manhattan! Contact us so we can create a tailored search and property tour for you.