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New Development

Interview: Why Long-Time Upper East Side Resident Makes the Move to Upper West Side

When speaking to Real Estate, you know that the first thing anyone mentions about property is “Location, Location, Location!”. In New York City, we are fortunate to have so many diverse neighborhoods, each with their own character and offerings.

We help our Client hone in on the neighborhoods that best align to their lifestyle. We often find that people end up falling in love with a neighborhood and staying for many years.

But what about when people are interested in a neighborhood that they’ve never considered? It happens, and yes, it can actually offer great opportunity!

Why Long-Time Upper East Side Resident Victoria Shtainer Moved to the West Side:

Move to the Upper West Side

 Q: As a long-time resident of the Upper East Side, what made you explore additional neighborhoods that were not in your original consideration set?

Victoria Shtainer: It is a Buyer’s Market currently in NYC and we wanted to take full advantage of that. It is currently cheaper to Buy than to Rent, especially when we need a large apartment to accommodate the entire family. With that said, there is New Development available in NYC that offers Tax Abatement, which is a huge positive for Buyers/Investors and something that should strongly be considered, even if those buildings are not in your target neighborhood.

Q: You mentioned Financial Reasons – Can you elaborate a bit more on some of the opportunities out there for Buyers currently?

Victoria Shtainer: Yes, given it is a Buyer’s Market, and the volume of New Development that is on the market in NYC, the ball is in the Buyer’s court to negotiate. While some may be hesitant to buy, that is when even greater opportunity can be had. Financial opportunities can include

  • Tax Abatement: Buildings such as One West End Avenue and Waterline Square are offering a 20 Tax Abatement which means monthly Real Estate Taxes are incredibly low for 20 years, thus reducing the carrying costs significantly. This is a huge benefit, especially if you are an investor looking to purchase your unit to rent.

  • Incentives: New Developments are offering Buyers incentives to attract them to their projects given the competitive market. This may include Sponsor paid Common Charges for X amount of years, Sponsor Paid Transfer Tax, as well as negotiability on the Asking price.

I practice what I preach! All of this comes together to result in what was an amazing opportunity to move to the Upper West Side from an investment standpoint. Just as I would advise Client looking for a great opportunity, I demonstrated that by doing so myself.

Q: Do you foresee yourself having to adjust your lifestyle from what you might have been used to on the Upper East Side versus your new neighborhood?

Victoria Shtainer: No! In fact, the amenities here from both a building and neighborhood standpoint are amazing. Given the Upper West Side has many New Developments, the building is outfitted with state of the art amenities including a pool, expansive terrace, in-building parking, and more.

From a neighborhood perspective, we have access to everything we would want such as Supermarkets, working studios such as Soulcycle a block away, and popular coffee shops. Additionally, you can easily access the West Side Highway to get to the Lincoln Tunnels and George Washington Bridge.

Q: Given the New Development selection around the City, what made you focus on the Upper West Side compared to another neighborhood?

Victoria Shtainer: I think that there is tremendous upside in this area, especially from an investment standpoint when you factor in the financial benefits I previously mentioned.

Hudson Yards is a few blocks South and has completely transformed the Far West Side, and the arrival of Waterline Square is going to add great value and interest to this neighborhood. The project included 3 amazing buildings by 3 world-class architects and will be bringing a host of neighborhood amenities including 28,000 square foot Cipriani and Empellon, 2.7 acre park, and an ice skating rink in the winter.

 I think that the Far West Side is experiencing what Downtown experienced during the post-Sandy era.

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

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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

Renzo Piano's 565 Broome Street Unveils Model Residences

565 Broome, the Renzo Piano designed glass tower in SoHo has given a first look inside. The building, which has been under construction since 2016, has reached the next chapter, with residents moving in, and 2 model units being unveiled giving us a first look inside the finished product. The building has two towers, a north tower and a south tower. A model unit, each designed by a different interior designer, from each tower were unveiled to guests earlier this week.

565 Broome Lobby

 Residence North 24A

N24A is a 3 bed, 3.5 bath home spanning 2,512 square feet. This model residence was decorated by interior designer Damon Liss. Liss took inspiration in designing his unit from the interiors of 565 from itself, adopting a refined minimalism approach.

565 Broome Model Residence
565 Broome Street Kitchen

 The home has western and northern exposure which offered wonderful sunset views over the Hudson during the evening hour that we viewed it.

Damon Liss Interior Design
565 Broome Street Master bath

Residence South 26B

 S26B is a 2 bed, 2.5 bath home spread across 2,191 square feet. In the south tower, this home offers southern and eastern views, with the eastern views being open city views across SoHo, the East Village, and even up to Midtown.

565 Broome S26B
565 Broome March & White

March & White, a British design firm, decorated this model unit. They included pieces from local artists throughout as well as plaster on the walls.

565 Broome SoHo
565 Broome Renzo Piano
565 Broome Views

 

565 Broome Street is Renzo Piano's first residential project in New York City. He brings his iconic design and approach to this luxurious residential project located in SoHo. The 30-story building stands out in the SoHo landscape, set alongside its smaller scale neighbors.  Renzo Piano prides himself on his careful attention to materials, and 565 Broome is no exception with an austere material palette that accentuates the quality of those selected. The overall design and approach to the project is an expression of key materials. Design is characterized by low-iron, extra wide glass and “tube” shaped living spaces in select residences which are a character of Renzo Piano.

Building interiors are designed by renowned firm RDAI who take a similar approach to their work as Piano, highlighting craftsmanship and materials. At 565 Broome, they have found beauty in natural materials such as stone, white oak, glass, and concrete. RDAI is known for its work in global Hermes and Saint Laurent stores.

 Amenities include a private gated driveway, outdoor landscaped terrace, 55 foot swimming pool, fitness center, lounge, and library.

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!

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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25 Park Row Coming to Heart of New Downtown

25 Park Row NYC

The New Downtown continues to attract attention and become one of the “it” spots in the city. The most recent new development to debut in the neighborhood is 25 Park Row, situated adjacent to City Hall Park. The unique location puts it right on the cusp with easy access to the Financial District, Tribeca, and SoHo. 25 Park Row is joined by famous neighbors on multiple sides including The Beekman, The Woolworth Tower, and 30 Park Place.

25 Park Row NYC

 The 50-story art deco-inspired tower will be comprised of 110 residences with views of City Hall Park. The building is expected to achieve LEED status. 25 Park Row is designed by Cookfox Architects with architectural details throughout the building inclusive of loggias, Juliet balconies, and large, casement-style windows.

25 Park Row Views

Residences features classic details yet done in a modern way that brings the perfect sensibility to what living downtown today is all about. Residences feature finishes such as wide-plank European white oak flooring. Kitchens are done with white lacquer millwork cabinetry, cantilevered walnut islands, and are outfitted with a Miele appliance package. Master Baths are modern and luxurious, with calacatta gold marble countertops, flooring, and wainscotting with European white oak vanities. Penthouse residence master baths feature freestanding Kallista tubs.

25 Park Row Interiors
Park Row Penthouse
25 Park Row Interiors

 The building will have a suite of amenities dubbed The Park Row Club which have been curated and designed by Studio Mellone. It will offer a variety of leisure spaces that overlook City Hall Park including a living room, library with fireplace, private dining room, and billiards. A Garden and Dining Terrace provide outdoor space which will include a lounge area with space for grilling. A 65-foot swimming pool, spa treatment rooms, park-facing gym, and private yoga studio round out the curated amenity offering.

Currently availability starts with 1 Bed // 1.5 Bath offered at $1,695,000 with CC: $1,105/MO and RE Taxes: $1,105/MO.

Interested in 25 Park Row and Experiencing the New Downtown? Contact Us today!

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.

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

Inside the Latest Penthouse Unveiled at 30 Park Place Designed by Santopietro

30 Park Place, the first private residences by the Four Seasons in New York, has had an overwhelmingly positive reception since its launch. The building is positioned conveniently in the heart of downtown Manhattan, moments from The Oculus, TriBeCa, and SoHo. The building unveiled its latest penthouse to hit the market, 77B, which has been designed by interior designer Alessandra Santopietro of Santopietro Interiors

Penthouse 77B

30 Park Place Penthouse 77B.jpg

Located near the top of the 937 foot tower, Penthouse 77B stuns with views from the moment you enter. Through the entry gallery, into the expansive 30'x16' living room, residents and their guests are greeted with sweeping southern, eastern, and western views. The 3,173 square foot home is comprised of 3 bedrooms and 4.5 baths. The home also features 2 outdoor terraces which are perfect for taking in the endless views.

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The penthouse truly feels like a home with an eat-in kitchen, fireplace, and a separate dining room that measures 18' long with eastern and southern views. Imagine hosting a dinner party and treating your guest to the views!

30 Park Place Penthouse.jpg
30 Park Place Views.jpg

The Master Suite features dual en-suite master baths as well as terrace access and an expansive walk-in closet. The additional bedrooms all feature en-suite baths as well. 

30 Park Place PH77B Master Bath.jpg
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30 Park Place is a Silverstein Property designed by Robert A.M. Stern architects and is currently the tallest residential tower in lower Manhattan standing at 937 feet. Because this is the Four Seasons Private Residences, residents of 30 Park Place enjoy a suite of amenities and offerings that offer an unparalleled luxury living experience. Residents can enjoy access to hotel amenities such as the indoor lap pool, in-residence dining from Wolfgang Puck's CUT, and car service.

30 Park Place Facts:
•    Architect: Robert A.M. Stern
•    Collection of homes that are part of the Four Seasons Private Residences Program
•    Private Residential lobby at 30 Park Place
•    Amenities: complete Four Seasons residential concierge, 75 foot pool, 38th floor club including fitness,  private dining, and screening room.

30 Park Place- Penthouse 77B is currently on the market offered at $16,450,000

Waterfront Development Offers Buyers Yacht Access

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From Manhattan to Brooklyn, developers are snagging up some of the last waterfront parcels to develop what will be the next wave of trophy properties and coveted buildings. Examples in 70 Vestry Street in Tribeca, The XI in West Chelsea, and One Manhattan Square.

In a luxury market that is saturated with inventory, developers are continuing to entice and innovate when it comes to amenity offerings. The latest waterfront property to grab the attention of buyers seeking amenities is One Seaport in Lower Manhattan. What is better than waterfront living coupled with a yacht? Nothing some would argue!

One Seaport, built by Fortris Group, has partnered with members-only yachting service Barton + Gray Mariners Club. Residents will be able to walk out the lobby and onto a Hinckley Yacht. Currently, residents are entitled to 3 complementary yacht excursions a week. There will be an extra charge for fuel and champagne. This amenity for residents of One Seaport packs value as a membership to Barton + Gray Mariners Club would normally set you back $20,000-$50,000 a year.

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One Seaport has been a popular new development in the heart of the revitalized Seaport District, luring buyers with an expansive amenity offering, luxe finishes, and wonderful water views. The residences are completed with luxurious finishes such as gold calcutta marble backsplashes, Gaggenau appliances, and grey limestone in the bathroom. The full suite of building amenities includes a port-cochere, fitness center overlooking the water with Brooklyn Bridge views, and a “Water Club” on the 30th floor with hydrotherapy and a pool.

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The building is currently 75% sold, however, we do expect additional inventory to be released for the fall selling season.

This particular amenity offering comes at an interesting time when the city has been expanding the NYC Ferry System on the East River. Commuters are looking for alternatives to the crowded, unreliable subway system. Many wealthy commuters have opted to take Uber to and from work given the convenience and relatively the lost cost compared to a monthly transit pass.

In an effort to get people out of the crowded subway system and onto the water, the city has pledge some $600 million over 5 years towards the NYC Ferry program.

For those looking to take cruising the East River and beyond to a new level, the private yacht offering at One Seaport is certainly the way to go!