How to Celebrate New Year's Eve in NYC

It is almost time to say goodbye to 2016 and hello to 2017. Everyone certainly has their preference when it comes to New Year's Eve activities, from staying home on the couch and watching the ball drop to popping champagne in clubs, we all welcome the new year in different ways. 

Deciding what to do for the celebratory occasion can be quite stressful, as there always seems to be pressure to do something amazing. Don't stress so much! If you are looking to get out of your apartment for a bit on New Year's Eve, we have selected a few happenings going on around the city. This, of course, is just the beginning as there are events are virtually every club, restaurant, and bar in NYC. These are just a few ideas of how you can ring in 2017 in NYC!

Prohibition Party at Rain's Law Room

Step back into time as you ring in the New Year at this year's prohibition party at Raine's Law Room. The luxurious evening will include and open bar and eats, live music, and entertainers. Era clothing is encouraged! The event begins at 9pm. Tickets start at $185.

Central Park Fireworks

Looking for a more laid back option this New Year's Eve? Check out the fireworks display that will go off at Midnight in the park. The fireworks will be launched from the Naumburg Bandshell. The show should be visible from almost any vantage point in the park. Admission is free.

Central Park

Rainbow Room

The views from the 65th floor of Rockefeller Center are sure to be as pleasing as the unlimited Osetra Caviar. Enjoy a four-course dinner, open bar, and dancing from 8pm until 3am. Music will consist of a live orchestra until midnight and then transform into a disco. Tickets to this black-tie event are $1,500 per person.

The Rainbow Room: 30 Rockefeller Plaza, 65th Floor.

The NoMad

If you are looking for a nice New Year's Eve dinner, consider The NoMad. Restaurant chefs Daniel Humm and James Kent will be serving a four-course tasting menu. There will be two seatings available: an early seating (prior to 8:30pm) and a late seating (9pm and after). Pricing for the early seating is $165 per person will the late seating is priced at $225 per person. 

The NoMad: 1170 Broadway

Afrojack at Marquee

World renowned DJ, Afrojack, will be taking over Marquee on New Year's Eve. If you are looking for a sleek setting and good party, this is the event for you. Afrojack's set will be from 1:30am-3 am. Marquee features multiple levels and its famous vanity-bulb-encased disco ball. Tickets start at $250

Marquee: 289 10th Avenue

Beautique

The posh midtown spot will be hosting a New Year's Eve party this is sure to impress. Boutique, frequented by the likes of Leonardo DiCaprio and Dylan McDermott will be having a premium open bar from 9pm-2am with music by Leekalt and Jen Stone. A champagne toast will be held at midnight. Tickets start at $99 for general admission.

eautique: 8 West 58th Street

The Bowery Hotel

Going with a group of friends that have slightly different tastes? The Bowery Hotel New Year's Eve party may be the event for you as it will feature different "stations" throughout. The event, from 9:30pm- 2am, will include complimentary cocktails the duration, DJ performances, and light bites. Stations throughout include the Woodford Reserve Whiskey Bar, Herradura Mexican Hacienda Lounge, the Barrel Room (scotch), and Finlandia Vodka cocktails. Tickets start at $249.

The Bowery Hotel: 335 Bowery

5 Reasons Why to Consider Buying New Development

The new development market has been booming in cities across the country, with cranes dotting the skyline in likes of Miami and New York. Some truly exciting and exceptional product has been introduced to the market over the past few years including many projects by “starchitects” and the introduction of over-the-top amenity offerings.
 
Sentiment among real estate professionals seems to be that we may see continued strength in the new development market or, perhaps, even a slight uptick if the Trump Administration enacts proposed loosening of Dodd-Frank regulations and supports infrastructure spending. Both of these particular aspects could make the origination of construction loans easier and propel new construction projects forward, and make beginning them more appealing for developers.
 
As with any transaction or large purchase decision, there is certainly a list of pros and cons, however, as a buyer in today’s luxury real estate market, new development is quite appealing. Here a 5 reasons why you should consider buying a new development project.

1. Opportunity to Buy Pre-Construction 

Once developers file the appropriate plans for their project with the city, they can begin to sell their project to prospective clients. This means as a buyer, you have the flexibility to buy pre-construction, signing a contract well in advance of the projected closing. Often, buyers that get in during pre-construction receive a discounted price. This, of course, does come with risks as the project may not go as expected or the market may take a downturn between contract signing and closings. However, you could find yourself well rewarded by buying pre construction at a favorable price per square foot in a rising market, rendering your apartment worth more by the time the project closes.

2. Everything is New

Who does not love something brand new? Buying a new development project means that you are purchasing a home that has never been lived in by anyone. Additionally, all appliances and amenities will be brand new as well.

3. Amenity Packages

There are certainly units in older buildings on that market that offer amenities, but the newest projects on the market have unparalleled offerings. The current market is quite competitive given the amount of new development inventory, so developers are using their amenity packages as a key differentiating factor to increase their project to the pool of buyers in the luxury market. Amenities in the hottest new development in the city include items like private wine cellars, swimming pools, curated libraries, spas, and porte-cocheres, to name a few. These features are not only appealing to buyers, but they are a favorable aspect from an investment standpoint when looking to secure tenants in the unit and also from a resale standpoint as well.

4. Potential Tax Abatements

Many new development projects coming to market have a tax abatement under the 421-a program. This program, which incentivized developers to build, recently expired, but was renewed under different conditions. As long as a new development project broke ground prior to the expiration of the original program, the building will receive the reduced tax benefits that are passed along to owners. Tax abatements lower the monthly carrying costs for the duration of the abatement which is a huge plus for property owners. For example, One Manhattan Square, a new development project on the Lower East Side, has a 421A abatement, making the monthly taxes on an available 1 bedroom unit $13/month for the duration of the abatement.

5. Investment Opportunity

Buying new development at a favorable price point can be a lucrative investment opportunity. New development comes with a premium price point which is not accessible for everyone, however, this premium price point can be valuable when it comes to resale and is even more valuable in buildings by “starchitects.” Research has shown that buildings with a premium architect’s name on it hold or increase in value more than buildings that do not. Buying in to a product like this means buying a brand name, and consumers generally trust brand names. Additionally, new development tends to be quite liquid when it comes to resales as it always has its buyers and sellers.

There is a great selection of new development inventory currently on the market and coming to market in New York City. Below is a selection of a few of our favorite projects currently underway.

If you are interested in exploring new development projects in New York City, or would like updated availability for a building, please contact us to schedule your appointment. 

70 Vestry Street

via

Situated on the last undeveloped waterfront parcel in TriBeCa, 70 Vestry is a Robert A.M. Stern masterpiece that offers a luxurious downtown living experience. The building will be done in Beaumaniere Limestone sourced from France, a stone known to glisten in the sunlight. 70 Vestry Street offers a vast array of amenities including library, café with private resident lockers, billiard room, lounge, and wellness level with fitness by The Wright Fit and a pool.

Madison Square Park Tower 

Madison Square Park Tower, located at 45 East 22nd Street, is changing the Flatiron skyline as it rises to 777 feet tall. Designed by renowned architectural firm Kohn Pedersen Fox Associates with interiors by Martin Brudnizki Design Studio, 45 East 22nd Street is a unique architectural masterpiece with a base that is narrower in width than the top. The residences on upper floors offer simply spectacular panoramic Manhattan views. The 5 levels of amenities will include a library, fitness center with basketball court, terrace, leisure rooms, and an upper club on the 54th floor.

One Manhattan Square

via

One Manhattan Square is a new sleek glass tower coming to the Lower East Side, rising next to the Manhattan Bridge. The project, by Extell, is bringing a new concept of luxury living to the neighborhood as it will have over 100,000 square feet of indoor and outdoor amenities. Given the amount of amenities, many are dubbing the building a "vertical village." Interiors are designed by Meyer Davis. The building has a 20 year tax abatement with availability starting with 1 bedrooms.

15 Hudson Yards 

The Hudson Yards project is completely transforming the far west side of Manhattan, bringing new life to once desolate locale. The entire development of the Hudson Yards projects encompasses residential and commercial. The area will include new luxury condo and rental buildings including 15 Hudson Yards. The building, an innovative design by Diller Scofidio + Renfro in collaboration with the Rockwell Group, will stand 88 stories tall with 285 condominiums. The building will bring a new level of luxury-living to the far west side of Manhattan. Residents will have access to all the amazing benefits of the Hudson Yards project. The building will feature a unique 2-level lobby with soaring ceilings and offer spectacular views of the Hudson, Manhattan skyline, and center piece by Heatherwick Studio. Residents will also be steps away from the new 14 acres of parks that are being constructed. Residences range in size from 1-4 bedrooms with duplex penthouses. 

221 West 77th Street

via

This new Upper West Side building is situated on a newly transformed section of West 77th Street, located between Central and Riverside Parks.  The project is a mix of old-world charm and contemporary designs by designer Thomas Juul-Hansen. Residences will feature floor-to-ceiling windows, offering abundant light and luxurious details and finishes throughout such as hand-painted kitchens. Amenities will include a spacious landscaped roof with gas fire pit, billiards room, basketball court, and state-of-the-art fitness facilities. 

Holiday Tipping Guide: How Much Should You 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?

Holiday tipping is an opportunity to give back to those that make running our daily lives a bit easier. 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. 

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
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.

Special Feature: Art Basel Miami + Oceana Launches

Art Basel Miami Beach is annual event that celebrates the art world, bringing the whos who from around the world to Miami. Art Basel brings Miami to life each December, sparking satellite art exhibits, real estate parties, and product launches.

Art Basel brings together top galleries from North America, Latin America, Europe, Asia, and Africa. Visitors can enjoy everything from Basquiats, Warhols, and Picasso to young up and coming artists as well. The art exhibition, a sister show to the original in Basel, Switzerland, attracts over 70,000 visitors the Miami convention center. 

Luxury partners like UBS, Davidoff, Audemars Piguet, BMW, and Ruinart are event sponsors. 

Art Basel transforms Miami into a huge cultural center the week of the exhibition. Because art buyers are linked to so many other industries, it is also a great time to explore Miami culture from shopping, dining, and real estate. 

Luxury brands hosted exclusive parties across town. We attended the Perrier-Jouet opening night of its L'Eden Miami at Casa Faena. Casa Faena is located in the hottest newly developed neighborhood of Miami Beach, the Faena Art District. The invite-only event hosted by Vanity Fair allowed guests to sample the best cuvées from the French Champagne house.  We toured some of the beautiful new development that is arriving to Miami as the real estate market continues to move ahead at full force here. 

Miami New Development

---

South Florida is booming with exciting new development. From Sunny Isles to South Beach and across to downtown Miami, cranes are visible in the sky, working to build the next luxury condominium. Two luxury projects to put on your radar are the boutique condominium One Ocean in South Beach and the ultra-luxury Faena House in Mid Beach.

One Ocean South Beach

1 Collins Avenue

One Ocean is a development by Related in conjunction with architects Sieger Suarze and Enrique Norten. Interiors are done by Yabu Pushelberg with exteriors by renowned landscape architect Enzo Enea. The boutique building is comprised of 50 units- 46 residences and 4 ocean villas. The residences range in size from approximately 2,000 square feet to over 3,500 square feet. Amenities include an infinity edge pool, 24-hour concierge accessible by iPad, curated contemporary art throughout the common areas, and access to a private beach club.

Faena House

3315 Collins Avenue

Faena House is an ultra-luxury development by Alan Faena, who developed the most successful neighborhood in Buenos Aires. Designed by Foster + Partners, the building is comprised of 1-4 bedroom homes as well as penthouse units with up to 8,000 square feet of living space. The 18 story Faena House is situated on the widest stretch of white sand beach in Miami Beach. The residences feature a Crestron home automation system accessible by iPad, and every luxury amenities, including access to the neighboring Faena Hotel collection of amenities as well.

Oceana Launches at Art Basel

With Jeff Koons

---

The project we are representing in the exclusive enclave of Bal Harbour celebrated its launch during Art Basel Miami. This was the perfect time to celebrate Oceana which is situated on 400 feet of pristine beachfront as the building is home to 2 Jeff Koons sculptures that residents will jointly own. Jeff Koons was personally at the launch to unveil the sculptures, Ballerina and Pluto & Proserpina, and give remarks about his works. Guests enjoyed an evening by the ocean and the Oceana pools, taking in the sculptures as well as the gallery quality art pieces located in the lobbies of the north and south towers. The building was received very positively by the guests in attendance. If you are interested in exploring the Oceana project, pricing, or floorplans, please contact us to schedule a confidential meeting.