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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

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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

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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

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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

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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

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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

Tallest Residential Condo on 5th Avenue Debuts Model Residences

277 Fifth Avenue by Rafael Vinoly unveiled the latest set of model residences perched on the 37th Floor of the new building in the heart of NoMad. 277 Fifth Avenue, rising 55 stories on 5th Avenue, is at the intersection of Downtown cool and Uptown sophisticated with stunning views through oversized windows. The building is a Victor Group development with architecture by Rafael Vinoly, comprised of 100% corner units. Interiors are designed by acclaimed designer Jeffrey Beers International feature finished comprised of warm woods and elegant natural stone.

Residence Features

  • 10 to 11 foot ceilings in entertaining areas with select residences featuring 20 foot double-height

  • White oak flooring

  • Dornbracht plumbing fixtures

  • Fully integrated Miele appliances

  • Master Bath: Kaldewei Puro Duo steel enamel tub with Bianco Dolomiti marble slab tub deck

277 Fifth unveiled both units 37B and 37C. Both units are 2 bed // 2 bath with 37B spread over 1,279 square feet while 37C is slightly larger at 1,397 square feet. Both units offered incredible skyline views…especially at Sunset.

277 5th Avenue 37B
277 Fifth Avenue View
277 Fifth Avenue
277 5th Avenue Bathroom
277 Fifth Views

Amenities

In addition to designing the interiors of the residences, Jeffrey Beers International has also designed two floors of amenities in the building spanning 7,000 square feet. There are dedicated spaces for relaxation, socializing, and recreation.

  • Curated Lobby Library with double-height bookcase wall

  • Entertaining suite with bar and kitchen pantry

  • Terrace

  • Kids’ Club

  • Game Lounge with custom ping pong table

  • Fitness Club inclusive of yoga studio as well as Men’s and Women’s Sauna/Steam Rooms


277 Fifth was one of the top-selling new developments in Manhattan in 2018 as based on Contracts Signed.

Interested in calling 277 Fifth Home?

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Top Picks for an Enjoyable Valentines Day

Valentine's Day is rapidly approaching on February 14th- have you made plans to make the day special for your loved one? We have curated some ideas to celebrate Valentine's Day from gifts to dining. If you are single, why not grab a friend and head to a great restaurant or enjoy a good bottle of champagne?

Chocolates

Teuscher Chocolates

For the chocolate lover, Teuscher is a must! The iconic Swiss Chocolatier is most well known for its Dark Chocolate Champagne Truffles. The company started over 70 years ago in a small town in the Swiss Alps as one master chocolate maker embarked on a journey to find the best ingredients which would lead him to create recipes for, what many critics, regard as the world’s best chocolate.

For Valentine’s Day, head to the Boutique on Madison Avenue or Rockefeller Center to pick up the Velvet Valentine Hearts filled with their iconic truffles.


Flowers

Ovando

Ovando takes a unique approach to floral arrangement, creating stunning displays both classic and modern. Quality and craftsmanship defines the brands beautiful arrangement. The store, dubbed the Botanical Gallery, is a experience not worth being passed up, and can also be rented for private events.

The Valentine’s Day collection is filled with everything from heart-shaped arrangements to iconic Ovando arrangements in beautiful pink and red colors. Our team favorite is the iconic floating orchids for which Ovando is known.

Champagne

Ruinart

Ruinart is the oldest champagne house in the world, established in 1729, and producing champagne since. The house barely survived World War I because of severe damage, but we are glad it did! Most of their Champagnes rely heavily on the Chardonnay Grape. With Teuscher Truffles in hand, you cannot go wrong pairing it with Ruinart Blanc de Blancs.

Dining

Manhatta

If you are looking for a truly special dinner spot where the food is equally as amazing as the views, you must go to Manhatta. Located on the 60th floor of 28 Liberty, the restaurant by Danny Meyers functions on a 3 course pre-fixe menu with an accessible price point.

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

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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.

What You Need to Know: Judge Rules in Favor of Airbnb

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Airbnb came into the headlines in New York last summer when City Council voted unanimously to enact a law that would require Hosts to disclose information including address of properties and identity to the city. City officials and the Mayor argue that Airbnb has essentially created an illegal hotel industry within the city. New York is one of the largest cities for the home sharing service. Under existing New York State law, most buildings do not allow an apartment to be rented for less than 30 days unless the permanent tenant is living in the apartment at the same time. City officials hoped this law would crack down on those violating this law and remove listings from Airbnb.

The law passed last summer stated that the detailed information pertaining to the units would need to be provided to the city monthly. Airbnb and Homeaway brought a law suit against the City, claiming that the law was unconstitutional. The law was slated to go into effect next month, however, a Federal Judge has blocked the enactment of this law in Manhattan Court.

Based on the recent ruling, here’s what you need to know:

  • The law is blocked from going into effect based on the premise that the collection of the data would be in violation of the 4th Amendment and would subject hosts to involuntary search and seizure.

  • This blocking is not necessarily permanent! It will be blocked will the litigation between parties continues. The outcome of the litigation will be important

  • City officials arguing that many people are running illegal “hotels” as they are violating the short-term rental law, and having guests in units for very short terms, creating a “revolving door” which could be potentially dangerous to other building residents

It is important to remember, if you are considering listing a property with Airbnb, under New York State law, short-term rentals cannot be less than 30 days unless the permanent tenant is also occupying the unit. This was and still is a State Law!

We anticipate that many people are in violation of this, and that is what the proposed legislation was hoping to crack down on. If you are listing your property on Airbnb in New York City, ensure you are adhering to all laws.

2019 Outlook: What to Expect for the New York City Real Estate Market

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As we enter a new year, we welcome new expectations for the housing market as we think about the year ahead. Briefly looking back at 2018, the year started off on a different note than it ended, namely rates rose to their highest levels in decades by year’s end, and the market fully transitioned to a Buyer’s Market. How do we expect 2019 to pan out?

The year ahead is likely to be a bit tougher than 2018 and remain soft overall as a result of the Fed. Prices remaining at minimum stable would be a positive, and a small rate of price appreciation would be even better. When people see their home rise in value, they feel wealthier whereas declining home values can spark a feeling of an impending recession. Thinking about 2019, we identified 4 areas of focus 1) Interest Rates, 2) Millennials, 3) Inventory, and 4) Rentals.

Interest Rates

We anticipate that interest rates will continue to rise in 2019 given the strong economic fundamentals and low unemployment rate in the US economy. Rates may begin to approach levels that finally squeeze some folks out of the market and into a smaller home than originally planned. Rising rates may also encourage some would be “Trade Ups” to stay put. Increasing rates is likely to impact first-time buyers most heavily as increased rates means less buying power. From a larger, national housing market perspective, this could also contribute to slowing sales as Buyers grapples with higher mortgage rates and recent rapid price increases over the past few years. 

Millennials

Millennials may be more at the forefront of the 2019 market than they were in 2018. This group could be a large driving force on the buy side of the market, especially for entry-level priced properties in New York City. The largest portion of Millennials will be ages 29-30 in 2019, a prime age for first-time homeownership. In a market such as New York, Millennials tend to be more affluent and savvy consumers, understanding the value in buying a property versus paying New York rent prices over the long term. Successful Millennials who have worked in industries such as Finance and Tech are likely armed with enough cash for a down payment.  Studio-1-bedroom properties priced below $2M are appealing to this group of Buyers. 

Inventory

Inventory is likely to remain elevated in NYC in 2019. New Developments continue to come to market and close, projects remain in the pipeline, and resale inventory will continue to come to market as well. This will be especially evident in the luxury sector of the market ($4M+) which has been experiencing a glut of inventory versus demand, a factor resulting in the shift to a Buyer’s Market. Average asking prices were inflated approximately 10% throughout 2018, and we expect the same to hold true throughout 2019. This means that Sellers had to take a significant reduction from Ask in order to get deals done. It is important to remember that deals get done when the price is right!

Rentals

Rent prices could likely see an uptick in 2019, attributed to the arrival of Amazon and increased demand. Amazon will bring with it a large number of high paying jobs, and thus increased demand from their employees as well as peripheral interest generated when a company such as Amazon picks a city as their home base. Google has also been discussing bringing a large number of net new jobs to NYC. Whether we see an increase in rent asking prices with concessions available or the dropping of concessions with asking prices remaining consistent resulting in a net effective increase in rent remains to be seen. We feel the latter is a probable scenario as landlords tend to drop concessions with demands increases as there is more competition for units. Additional rental inventory is something to watch in 2019 as it relates to pricing as this could be a factor that keeps a lid on rising rental prices.

6 New Year's Eve Parties You'll Actually Want to Attend

It is time to ring in 2019, and finding a good party in New York can be a challenge - will there is a lot of opportunity for a memorable night, there can also be more opportunities for a disappointment of the party description when you purchased tickets online versus reality.

Standing in Times Square for hours with millions of other people is not everyone’s idea of fun, so we’ve rounded up 6 great parties across the city that you will actually want to attend. Raise a glass to 2018 and say hello to 2019 in style!

Cipriani Wall Street

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Cipriani Wall Street, located in the former home of the New York Stock Exchange, is hosting a New Year’s Eve soiree in true Cipriani fashion – black-tie attire. The iconic venue will offer Bellini’s upon arrival and a 4 course Italian dinner at the Club 55 restaurant. Dinner will be followed by dancing and Prosecco on tap. For those not looking for sit down dinner, last we checked they were offering general admission after 10pm for $60 per person.

Midnight Millions New Year’s Eve

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Head to the Financial District to Trading Post to participate in a murder mystery. Trading Post, whose interiors remind us of prohibition, will be giving guests fake money to participate and deal their way to solving a murder mystery while sipping cocktails before the clock strikes midnight. By making a “deal” with other guests, you get to ask them a question to help you solve the mystery. You’ll feel like a million bucks if you crack the case!

Tickets

Tao Downtown

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One of our favorites – the swanky Tao Downtown – is hosting a New Year’s Eve party that is sure to be a good time. From the large Geisha on the wall to the plush seats and chandeliers, the inside of the Tao Downtown nightclub exudes luxury. Tickets, starting at $200, include hors d’oeuvres, access to a four-hour open bar, and a glass of champagne at midnight.

Tickets

Coupette at Public Hotel

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The Public Hotel quickly became one of the “it” spots of New York nightlife when it opened last fall. Ian Schrager has teamed up with Coupette, which will be taking over Diego inside Public from December 29th-31st. Coupette is one of London’s most popular cocktail bars, and bartenders from the London hotspot will be serving 5 of their favorite cocktails for just 3 days. Jean-Georges will be leading the culinary offerings throughout the evening.

Reservations

Plaza Hotel Masquerade Ball

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Palm Court at The Plaza Hotel is a New York icon synonymous with glamour and old-world New York City grandeur. They will be hosting a black-tie Masquerade Ball New Year’s Eve that is sure to not disappoint as Krug Champagne will be flowing. There will also be aerialists, dancers, a live DJ, and special menu. If you are looking to end 2018 with a bang, this may be an option for you as tickets start around $850 per person.

Contact Palm Court for details and reservations

Mr. Purple

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Located within the Hotel Indigo on the Lower East Side, Mr. Purple is a popular destination for a sophisticated rooftop with great Skyline views. They will be putting on a Burlesque party for New Year’s Eve so find your best fishnets and feather boas to ring in 2019.

Tickets

4 Holiday Markets to Visit In NYC to Get Into the Holiday Spirit

Looking to get into the Holiday Spirit in New York City? From Brooklyn to Manhattan, Holiday Markets pop-up all over the city. Most of them are put on by the food hall/market experts -UrbanSpace. They are a great place to find unique gifts and enjoy festive food and drink. We’ve included 4 of our favorites and most popular.

Bryant Park Winter Village

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The Lodge via

Each year during the Holiday Season, Bryant Park is transformed into a winter village that is the perfect destination to get into the spirit. The park becomes home to a bunch of shops and food pop-ups as well as an ice skating rink and Christmas tree. Shops include artisanal creations from both local and global vendors.

UrbanSpace has created the shops to resemble an open-air style market that you would find throughout Europe. This year, the Lodge by UrbanSpace opened. This pop-up food hall offers breakfast, lunch, and dinner as well as an indoor cocktail bar and outdoor biergarten.

Union Square Holiday Market

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Perhaps one of the best known and most popular annual holiday markets is in Union Square. Each year, a portion of Union Square Park is transformed into an open-air market with more than 100 vendors. Whether shopping for unique gifts or looking for a winter treat such as Max Brenner hot chocolate, this market has a variety for everyone.

Grand Central Holiday Fair

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If you are looking to stay out of the cold, head to Grand Central Station. During the Holiday Season, Vanderbilt Hall is transformed into a holiday bazaar that features over 40 booths offering everything from artisanal ornaments to dog gifts. If you are looking for gifts, this is a great place to go as the booths are focused on gifts rather than food vendors. Did we mention, it is indoors?

Columbus Circle Holiday Market

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The Columbus Circle Holiday Market is in its 15th year with more than 150 vendors. If you are spending the day in Midtown, Central Park, or the Theater District, this is a great option to check out. New this year is a Citi-sponsored holiday lounge with a photo booth and phone charging stations. The market also has a large selection of food and drinks in addition to crafts and gifts.

2018 Holiday Tipping Guide - How Much to Tip Building Staff and More

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The Holiday Season has officially kicked off. With Black Friday and Thanksgiving over, holiday decorations are going up across town. With the arrival of the Holiday Season comes the question on the mind of many - “How Much Should I Tip?”

The holiday season is always a time to give back to those that had a positive impact on our lives over the past year. One question that always comes up, especially in New York City, is how much to tip the building staff and those that are intimately involved in day-to-day life? Tipping is a major part of the Holiday Season in New York, and is a way to show appreciation to your building staff. Thus, it is important to say that it is highly encouraged, but not required. As December rolls around, many begin to get anxiety about who to tip, how much to tip, and if he or she should even tip at all. 

Our friends at Brick Underground publish a go-to holiday tipping guide, which has been circulating since 2013. We condensed it, and put our take on what is appropriate as you budget for your holiday tipping. Remember, these are simply guidelines. There are many factors that can influence the tipping decision such as the size of the building (a larger staff equates to smaller individual tips), level of service, seniority, and time in building. Additionally, owning versus renting in a building can play a big factor as well.

Of course, if you live in a building with a part-time doorman, virtual doorman, or no staff at all, the below levels could be adjusted downward.

Renters: Tips do not have to equate to the dollar amount you are paying each month for rent. If you receive a lot of packages, have a stroller that is carried in and out of the building, etc., factor this into your tip. 

It is recommended that you tip in cash. Doorman, Concierge, Supers, etc. all of bills to pay like you and I- they are not looking for fruit cakes, cookies, or homemade gifts at the holidays!

 

 

Tipping Guidelines

 

 

Super: $150-200
Doorman/Concierge: $100-150
Nanny: 1 Week Salary
Housekeeper: 1 Week Salary
Dog Walker: 1 Week Salary
Driver: 1 Week Salary
Garage Attendant: $50-$100
Personal Trainer: $100
Chef: $300-500
Personal Assistant: 1 Week Salary
Hairdresser: $50-75
Manicurist: $25

 

Something to Consider: If you have been tipping throughout the year utilizing a "pay as you go" method, it is customary to tip on the lighter side during the holiday season.

Greenwich West Launches in SoHo

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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.

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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