Go West! 7 Train Expansion Leads to Big Boom Summer Rental Market Sizzles New York's Greenest Digs the Best of Kips Bay Décor

Home , 640 Broadway, Silver Towers, The New York Observer

LuxuryJUNE/JULY 2012 Rentals THE ESSENTIAL RESOURCE FOR TRENDY RENTERS

COVER PHOTO 640 NOHO ELEVATING EXPECTATIONS FOR LUXURY LOFT LIVING IN HISTORIC NOHO

Go West! 7 Train Summer New York’s The Best Expansion Leads Rental Market Greenest of Kips Bay Décor to Big Boom Sizzles Digs Show House

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TOWN Residential, LLC is a licensed real estate broker and proud member of REBNY. Town Residential LLC is a partnership with Thor Equities LLC. We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin. All information is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description. All measurements and square footages 15 BLEECKER STREET 640 BROADWAY are approximate. Exact dimensions can be obtained by retaining the services of an architect or engineer. 2 BR, 2 BATH WEB ID: 743798 $8,750 1 BR, 1 BATH WEB ID: 963937 $6,350

Untitled-5 2 5/29/12 6:04:29 PM 1 3 RIVERVIEW TERRACE � TH 322 WEST 57TH STREET 5 BR, 4.5 BATH WEB ID: 138095 $34,500 4 BR, 4 BATH WEB ID: 677935 $25,000

We de ne our neighborhoods as much as they de ne us.

79 LAIGHT STREET 71 FRANKLIN STREET 3 BR, 3.5 BATH WEB ID: 737289 $25,000 3 BR, 2 BATH WEB ID: 404376 $11,000

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110 Fifth Avenue 26 Astor Place 45 Horatio Street New York, NY 10011 New York, NY 10003 New York, NY 10014 212.633.1000 212.584.6100 212.604.0300

Untitled-5 3 5/29/12 6:04:33 PM editor’s note

26 g ns Green Desi Zises usan Courtesy of S of Courtesy

Every New York renter knows that in the summer as temperatures increase so do rental prices, which often peak in August and September. “It is a big time for new hires and job transfers, all of who are competing for housing. People tend to take vacation time in the summer as well and they’ll often use some of that time off to make a move, especially families with school-aged kids,” said Arthur Fenton, Senior Vice President of Prudential Douglas Elliman. We take this all into account on pages 6-10 in our rental market piece. The massive multi- billion dollar expansion of the 7 train will bring new development and heightened accessibility to Midtown’s Far West Side. See how we predict the extension will effect the already booming micro- neighborhood on pages 12-14. Ben Weitzenkorn talks technology and innovation on pages 16-18, where he investigates upscale green and LEED-certified housing options in the city. The non-profit Kips Bay Decorator Show House celebrates its 40th year with a phenomenal design showcase spanning two twin penthouse complexes in The Aldyn. Check out our spread on pages 20-21 of which rooms made us envious .

Cheers to a fantastic summer! Benjamin-Émile Le Hay

2 luxury rentals june/july 2012

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A SPECIAL ADVERTISING SUPPLEMENT TO THE NEW YORK OBSERVER CONTENTS Luxury

RentalsJUNE/JULY 2012

EDITOR PUBLISHER BENJAMIN-ÉMILE LE HAY ROBYN REISS 12 SOLAR AND ONFORCE TREES TWO

ART DIRECTOR ADVERTISING LAUREN DRAPER COORDINATION KATHERINE DESPAGNI CONTRIBUTORS PRODUCTION LARA ROSENBLUM DIRECTOR BEN WEITZENKORN MARK STINSON PHOTO EDITOR 6 COPY EDITORS COURTESY OF PETER LETTRE MANHATTAN SKYLINE 16 LESA ANDREASEN AND SUSAN ZISES GREEN BEN WEITZENKORN ADVERTISING PRODUCTION LISA MEDCHILL 20 Market Going Green

THE NEW YORK OBSERVER Overview 16 SUSTAINABLE DIGS 321 WEST 44TH STREET, NEW YORK, NY 10036 A crop of luxury Publisher 212.755.2400JARED KUSHNER WWW.OBSERVER.c Om 6 SUMMER SIZZLE hi-rises have been Editorial Director ELIZABETH SPIERS Balmy weather has going up with LEED President CHRISTOPHER BARNES already begun to guidelines in mind. Ben Executive V.P. BARRY LEWIS plague New York. As Weitzenkorn digs deeper Senior V.P., Associate Publisher JAMIE FORREST temperatures rise, into what these buildings Editorial Manager MICHAEL WOODSMALL Lara Rosenblum o er their tenants and Marketing Manager ZARAH BURSTEIN reports on how the how green living is Controller MARK PASQUERELLA summer rental market revolutionizing New York City rentals. Audience Development SYDNEY SARACHAN is sure to be piping hot! Accounts Payable Manager TRACY ROBERTS Accounts Receivable IAN MCCORMICK Decorating 7 Train Showcase Extension ON THE COVER 20 DESIGNING TOWN RESIDENTIAL 12 GO WEST! DREAMS EXCLUSIVE, 640 NOHO: With the anticipated Luxury Rentals attended THE OPEN CONCEPT completion of a $2b the 40th Annual Kips LIVING ROOM expansion of the Bay Decorator Show MTA’s 7 line, we probe House VIP reception at PHOTOGRAPH: our real estate experts The Aldyn. Here is our MICHAEL WEINSTEIN on how it will impact list of the spaces you Midtown’s ﬂ ourishing must see before it comes Far West Side. to an end in mid-June.

Mark Menendez was misquoted in the March/April 2012 issue of Luxury Rentals on page 12, 2nd paragraph. That statement was made by another agent. We apologize for the error.

4 LUXURY RENTALS JUNE/JULY 2012

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Untitled-14 1 5/30/12 6:32:34 PM MARKET OVERVIEW

A view of the Queensboro Bridge from 3 Riverview Terrace.

SUMMERrental prices in SIZZLE the city As temperatures go up, so does the New York luxury rental market

By Lara Rosenblum

NEW YORK CITY’S LUXURY rental mar- The summer housing market in the all of whom are competing for housing,” she ket remains relatively shielded from turbu- city is limited by new construction—sup- said. “People tend to take vacation time in lence. When price isn’t the issue, housing ply remains low while demand steadily the summer as well, and they’ll often use stock finds a way to makes itself available increases—and there are plenty of other some of that time off to make a move, espe- and, without scarcity, prices remain rela- contributing factors. Laurie Zucker, a prin- cially families with school-aged kids.” tively stable. This year though, luxury rent- cipal at Manhattan Skyline Management Arthur Fenton, Senior Vice President als have already exceeded the peak prices we said that the market in May is flooded with of Prudential Douglas Elliman said that saw at the height of the real estate bubble in college graduates who are moving out of another demographic to keep in mind are 2007. Brokers anticipate that over the sum- dorms, need a place to live but aren’t yet in the new and returning students who don’t mer luxury rentals prices will continue to a position to buy a home. “Additionally, it is want to live in student housing. “Many climb right alongside summer temperatures. a big time for new hires and job transfers, people want to be settled before the start

6 luxury rentals june/july 2012

LR_0612_MarketOverview.indd 6 6/1/12 2:47:04 PM MARKET OVERVIEW Manhattan Skyline’s 55 Thompson at dusk.

good news, but according to Senior Vice President of Citi Habitats, Rado Varchola, it’s not going to bring rents down anytime in the immediate future. “As long as the vacancy rate remains [near one percent] and the local economy continues to improve, we will see the rents go up for the foreseeable future,” she said. According to Elizabeth Kee, an Associate Broker and Vice President of CORE, this year could be a record breaking one. “We can expect that 2012 will reach new lows in the vacancy rate, coupled with new highs in NYC apartment rental prices.” But the question remains: beyond sim- ple supply-side economics, why exactly are vacancy rates so low? Ms. Kee explained that since landlords know there will be high summer demand, they often allow wintertime renters to sign of the school year—as a result, summer the Executive Vice President and Director leases that extend beyond 12 months. “Once occupancy is very important,” he noted. of Rentals at Prudential Douglas Elliman. an apartment becomes vacant during [the The rental market is further compli- “Migration of empty nesters and sell- winter] time, each year the lease will end cated by the desire to “trade up” to a new ers from the suburbs looking to relocate during the height of the season,” said Ms. home in a new neighborhood—a trend that back to the city has also put pressure on Kee, and in college towns (and make no occurs year round. “The city has seen a inventory.” mistake, New York is one) that’s summer- surge in renters looking to upgrade their When people move, it’s because they can time. For example, a lease that started last current apartments and a huge influx of afford to. Tumult and turnover in NYC rent- December, might not end until July 2013. renters from the entry level to über-luxury als are often indicators of a growing econ- The rentals that go on the market during the apartment seekers,” said Mark Menendez, omy and strong job market. That’s mostly summer go for the adjusted market rate that

The handsome living room of 8 Warren Street.

june/july 2012 luxury rentals 7

LR_0612_MarketOverview.indd 7 6/1/12 2:47:55 PM MARKET OVERVIEW

A dining nook at 640 Broadway. The sitting room of 1 Gramercy Park North. ‘Popular areas such as Williamsburg, DUMBO and Park Slope have prices that rival The entrance of West River House. Manhattan.’ Cindy Scholtz, Citi Habitats A peek at 25 Bond Street’s fifth floor. is—you guessed it—notably higher than the rent the previous tenant paid. The fact that landlords can demand higher prices when they rent in May, June, July and August can discourage renters with leases ending in summer months from moving. Jeffrey Wachtenheim, Representative and Licensed Salesperson at Town Residential said summer rent increases have left some looking to move but, “at the end of the day, there really is no place The living room at feasible to [move to].” 79 Laight Street, 2D. Mr. Menendez agreed. He believes that when assessing the cost of bro-

ker fees, moving expenses TREES and time spent searching TWO for an apartment, “rent- AN D ers find that the cost of a S

new apartment and mov- BY OTHE ing could, in most cases, be higher.” This causes people s Y LINE , to stay put, which, in turn, keeps availability low, con- A fireplace at tributing to inflated rental 34 West 11th Street. prices. One privilege, previ- ously reserved for the luxury rental seeker, SK MANHATTAN ELLIMAN , , TOWN defied economics—they were few and their choices were many—but that’s no longer so. Vannessa Kaufman, Senior Vice President and Associate Broker at Sotheby’s International Realty, said she has the evi- dence to prove it. “I have seen the highest [rental rates] ever: [At] $40,000 to $100,000

per month is almost not a shock anymore!” weinstein, michael top: from clockwise

148 East 63rd Street’s modern living space. 8 luxury rentals june/july 2012

LR_0612_MarketOverview.indd 8 6/1/12 2:48:53 PM Local Experts Worldwide MANHATTAN RENTAL PROPERTIES

UNION SQ PENTHOUSE, 50 W 15th ST: SUPERB RENOVATION: High floor 2 bed- 148 E 63RD ST: Contemporary 4 bedroom, Sun-flooded 3,000+/- sq ft duplex with private rooms, 2 ½ bath in the Mandarin Oriental Ho- 4 ½ bath townhouse in wonderful condition. roof top, 3 bedrooms, 3 baths. $39,000/m. WEB: tel. $24,950/m. WEB: NYO0017878. E. Sample, $24,750/m. WEB: NYO0018105. V. Kaufman, NYO0016891. Eric Malley, 212.606.7625 212.606.7685, B. Powers, 212.606.7653 212.606.7639, B. Goldenberg, 212.606.7636

THE PARK LAUREL/15 W 63RD ST: PENTHOUSE WITH 2 TERRACES: Luxuri- UNITED NATIONS PLAZA: Palatial, high Spectacular 3 bedroom, 3 ½ bath offering ous condo with 3 bedrooms, formal dining floor, 14-room wrap with dazzling light and incredible light. Broker owner. $23,000/m. WEB: room, 4 baths, 10’ ceilings. $22,000/m. WEB: views. Furnished or unfurnished. $20,000/m. NYO0017812. Mika Sakamoto, 212.606.7676 NYO0018044. Ella Semyonova, 212.400.8778 WEB: NYO0017674. Nikki Field, 212.606.7669

255 E 74TH ST.: Ultra luxurious 3 bedroom, THE ESSEX HOUSE: Stunning mint, fully FURNISHED LONG OR SHORT TERM: 3 ½ baths, 2,054+/- sq ft condo features de- furnished 2 bedroom, 2 ½ bath. Electric is in- Live high in the sky, surrounded by the signer finishes and fireplace. $18,000/m. WEB: cluded. Hotel maid service available. $17,500/m. serene views. 2 bedrooms. $14,000/m. WEB: NYO0018163. Harry Nasser, 212.400.8724 WEB: NYO0018121. Dolly Hertz, 212.606.7601 NYO0017988. Christine Driscoll, 212.400.8711

524 E 72ND ST: Breathtaking views from ev- 210 E 68TH ST: Spacious 3 bedroom, 2 baths 1 MORTON SQ: Spectacular river views, ery room of this 41st floor, 3 bedroom, 3 bath home with an expansive living room and dining 2 bedroom, 2 ½ bath condo with abundant condo. Furnished preferably. $11,000/m. WEB: room. High ceilings, fireplace. $11,000/m. WEB: closets and washer/dryer. $10,500/m. WEB: NYO0018057. Anne Aransaenz, 212.606.7645 NYO0018138. Shep Skiff, 212.606.7794 NYO0018000. Pamela O’Connor, 212.606.7709

EAST SIDE MANHATTAN BROKERAGE I sothebyshomes.com/nyc 38 EAST 61ST STREET NEW YORK, NY 10065 T 212.606.7660 F 212.606.7661 Sotheby’s International Realty, Inc. is owned and operated by NRT LLC. Sotheby’s International Realty® is a registered trademark. Spanish Balconies used with permission.

Untitled-9 1 5/30/12 11:46:25 AM MARKET OVERVIEW

129 West 20th Street has over 4,000 square feet of living space, 25 foot ceilings, a wet bar and a fireplace.

The city luxury rental market offers the sizes range from studios and one bedrooms— ings... It’s an easy commute from there, and best only to those who come ready for it. One many with windowed home offices—to two parents like that.” But she still believes that particularly coveted apartment at 132 West and three bedrooms.” Buildings like Port 10 most students will gravitate towards down- 22nd Street had three appointment bookings make standard the sought-after offerings of town areas like Soho and NoLita. within the first hour of its listing. One pro- a concierge, lounge areas, gyms and even the A bit off the red carpet path, are areas like spective renter “made an offer to rent at full occasional swimming pool. They outshine Midtown West and the Financial District, asking price of $20,000 per month, with a and out-price the luxury buildings that do mentioned Mr. Wachtenheim. year rent in advance, plus security, a full 15% not have hotel-like amenities. Luxury bargains are tough to come by broker’s fee and a request for an option to Students looking to get into a cozy in Manhattan; even in Brooklyn rock bot- renew for a second year,” Ms. Kee said. The upscale suite: it’s definitely time to hustle. tom deals are a thing of the past, said Cindy apartment was rented in less than 24 hours. Mr. Fenton said the most popular neigh- Scholtz, Senior Associate Salesperson Like everything else in this city, coveted borhoods for students who can afford lux- at Citi Habitats: “Popular areas such as neighborhoods and hotspots are always ury living are Chelsea, the Upper West Williamsburg, DUMBO and Park Slope have changing. Truly luxurious buildings, such as Side, Flatiron, the East Village, Greenwich prices that rival Manhattan. DUMBO topped Chelsea’s Port 10, include amenities like pri- Village, and the West Village. Asaf Bar-Lev, the charts in rental prices, comparable to vate balconies, in-unit washers and dryers, Representative and Licensed Salesperson at Flatiron and Chelsea.” catered roof lounges with fully staffed food Town Residential, doesn’t want to exclude Luxury living in New York is definitely and drink bars—even screening projectors Union Square. “We are also seeing a large feasible. With a bit of luck, the right broker for rooftop film viewings. Joshua Young, a migration downtown towards the Lower and the right timing, a savvy renter can snag project manager at Cantor & Pecorella, the East Side for students,” he said. Ms. Zucker a luxury rental without breaking the bank— exclusive rental and marketing agent, said said students from Long Island looking to but don’t wait until the last minute to start units at Port 10 are “meticulously designed to please their parents should pick Murray looking. Come prepared to jump on it once maximize comfort and flexibility: Apartment Hill. “It has a lot of luxury, doorman build- you find the home you want.

The rooftop view of Port 10 in Chelsea. . and ci t i hab tats . C&P In c C&P

10 luxury rentals june/july 2012

LR_0612_MarketOverview.indd 10 6/1/12 2:49:31 PM sales | rentals | relocation | new developments | retail | mortgage | property management | title insurance many jurisdictions worldwide. Used under license with no other affiliation Prudential. Equal Housing Opportunity. ©2012 BRER Affiliates Inc. An independently owned and operated broker member of BRER Affiliates Inc. Prudential, marks of Prudential Financial, the Prudential logo and Rock symbol are registered service Inc. and its related entities, registered in your own attorney, architect or zoning expert. If your property is currently listed with another real estate broker, please disregard this offer. It is not our intention to solicit the offerings of other real estate brokers. We cooperate with them fully. subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by

HAMptONs OAsIs | WEb# H64278 All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented

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Untitled-3 1 5/29/12 3:02:34 PM 7 TRAIN EXTENSION

An evening balcony shot of 505 West 37th Street with views of the Empire State Building.

12 luxury rentals june/july 2012

LR_0612_Westside.indd 12 6/1/12 2:52:08 PM 7 TRAIN EXTENSION

Clockwise from top left: MTA’s rendering of the 10th Avenue station; an extrioer image of Citi Habitats and The Corcoran Group’s The Matena building; fine living at 447 West 36th Street; and outside 33 West End Avenue.

THE MASSIVE $2.1 BILLION PROJECT THAT WILL TRANSFIGURE

THE FAR WEST SIDE OF MIDTOWN MANHATTAN

GO WEST!By Benjamin Émile Le Hay

A YEAR FROM DECEMBER, Manhattan’s Avenue. “We’re one step closer to opening Director of Elliman Rentals, said the neigh- Far West Side is slated to welcome a up the Far West Side of Manhattan to major, borhood is “considered to be one of the last major extension to MTA’s 7 subway line. transit-oriented economic growth,” said Dr. frontiers of Manhattan. From upper Chelsea, Principally funded by the Hudson Yards Michael Horodniceanu, President of MTA to Clinton to Riverside Boulevard, there are Development Corporation, the nearly $2.5 Capital Construction, about the extension. new options for renters.” billion construction project is a joint venture While there have been a few obstacles in What exactly does this extension mean between Skanska USA and the RailWorks terms of funding the complete project, in for luxury renters and residents? Jeffrey Corporation. The Far West Side of Midtown May, the MTA reported that the 7 subway Wachtenheim, Representative and Licensed has seen tremendous economic and com- extension is 65 percent complete. Vannessa Salesperson with Town Residential, said munity growth for several years now. Case Kaufman, Senior Vice President and that “the extension of the 7 train will make in point: the boom in high-rise luxury apart- Associate Broker at Sotheby’s International the neighborhood more accessible for peo- ments, the gentrification of Clinton, and the Realty, said, “by giving the area a much ple who are dependent on public transpor- foodie explosion in Hell’s Kitchen; Midtown needed transportation facility, it will connect tation. “The train definitely will make this West has blossomed into a flourishing urban the future Hudson Yards buildings, Chelsea neighborhood more desirable and, in effect, center for fine living, nightlife, entertainment Piers and everything around it—not only the apartments may be leased faster and for and dining, yet retains its gritty New York to NJ and Queens—[but to] other subway higher yields.” aura. The 7 line extension will bring with it lines. This will no longer be the isolated Far Many upscale apartment buildings and an entire new section of tracks from Times Midtown West.” complexes have already been built along the Square to Jacob Javits Center with a 10th Mark Menendez, Executive Vice President Far West Side including: Silver Towers, the Avenue station and a 34th street stop at 11th at Prudential Douglas Elliman and the Ashley/Aldyn, and Related’s MIMA. All have

june/july 2012 luxury rentals 13

LR_0612_Westside.indd 13 6/1/12 2:52:49 PM 7 TRAIN EXTENSION

garnered plenty of attention and proved popular with renters and buyers alike. Mariana Vredjian, Director of Residential Leasing at Silverstein Properties, explained how “Silver Towers has elevated the design standard and amenity offerings for today’s luxury rental buildings.” She credits the building’s “spacious, well designed floor Mercedes House is a luxury complex plans and stunning views of the city and the in the heart of the Far West Side. Hudson River” as having a strong influence on the Far West Side’s upgrade in up-market lishing a new residential neighborhood. The sprouted up on the Far West Side is 505 West living. “Silver Towers has helped spur devel- city’s initiative to provide access to the river- 37th Street. The building, which was com- opment along the West 42nd Street corridor, front has also had a hugely positive impact on pleted in 2010, is a large, glass two-tower an area now well on its way toward becom- the way people look at these areas as prime complex featuring 835 rental units. It was ing a world-class residential neighborhood,” destinations and not just potential options.” designed by the award-winning architectural she added. Asaf Bar-Lev, Representative and Licensed firm Handel Architects. The exquisite exte- Elizabeth Kee, Associate Broker and Vice Salesperson at Town Residential, agrees, rior is matched with plenty of sophisticated President at CORE, also noted the recent “It is safe to say that one of the engines driv- design and interior details that luxury rent- emergence of trendy new rental buildings, ing the rapid development we are currently ers now expect. Like 33 West End Avenue, “Today, this neighborhood might seem a witnessing along the West Side is the exten- 505 West 37th Street has sizeable balconies little too underdeveloped for some rent- sion of the 7 train. Since the announcement and private outdoor spaces, most with terrific at the end of 2001, we’ve seen more real Manhattan and waterfront views. Occupants estate development initiatives in and around also get the must-have 24-hour concierge, ‘It is safe to say that one Hudson Yards.” roof deck and state-of-the-art fitness center. of the engines driving A newly designed property joining A special feature at 505 West 37th Street is Midtown’s Far West Side, 33 West End an infinity pool, boasting exceptional views the rapid development Avenue is nestled between the Far West of the Empire State Building, the Statue Side and the Upper West Side, a burgeon- of Liberty and the High Line. If that’s not we are currently ing micro-neighborhood often referred to enough to keep you busy, there is also a lounge witnessing along as Riverside South. 33 West End Avenue with a film screening area and billiards. offers renters condominium quality and Realtors are reporting positive responses the West Side is the top-notch amenities. Many of the building’s and high-demand for such rental proper- extension of the 7 train.’ newly renovated studios, one and two bed- ties already on the Far West Side. Mr. Bar- rooms for rent, offer residents outdoor space Lev said, “As a real estate professional and Asaf Bar-Lev, Town Residential and washer and dryers. Additionally, there is lover of New York’s evolving neighborhoods, a 24-hour concierge, a private tenant lounge it’s exciting to witness the redevelopment of ers. However, with the expansion of the 7 and a health club. “Rarely, if ever, do land- the Far West Side.” He added that the exten- train and the plans to develop the West Side lords take it upon themselves to upgrade sion of the High Line Park is one such devel- Yards, within a summer or two this area rental apartments in a building less than five opment. Residences such as Silver Towers, will prove to be one of NYC’s most conve- years old,” said Justin DeBlase of Cantor & Ohm, 455 West 37th Street and 505 West nient and desirable neighborhood for rent- Pecorella, the exclusive leasing agent for the 37th Street are attracting a more diverse pool ers,” she said. “My prediction is that by 2014, building. The building also highlights why of high-end renters. Many know that the 7 more people will exit Penn Station and head many renters are flocking to the Far West train expansion equates speedier commutes west than east—something that never before Side: magnificent city views. 33 West End and lifestyle conveniences. “The buildings seemed possible.” Mr. Menendez, echoed Avenue’s spectacular river and skyline pan- will offer more of a lifestyle choice,” added this prediction: “We knew it was inevita- oramas are boosted by high ceilings and dou- Ms. Kaufman. With this sudden increase in ble, but the planning from developers and ble height windows. luxury properties, and as the 7 train expan- the city together have made these new areas Two Trees Management Company tapped sion comes to completion in 2013, it will be the potential ‘it’ neighborhoods of the near visionary architect Enrique Norten for its Far interesting to note how rental market prices future with green buildings, amazing ameni- West Side luxury complex, Mercedes House. react. They are expected to surge. “It is clear ties and new designs separating it from the “The 7 line expansion has clearly already had that with easy transportation access, this part rest of the city. The most impactful feature a tremendous impact on Manhattan’s West of town will emerge as one of the next great will be the 7 train. This will attract renters Side. It’s basically taken one of the last urban neighborhoods. Accessibility destines the looking to explore new areas and find value, areas of Manhattan and created an oasis,” a area to be flooded with renters who are hun- which in turn will bring new restaurants and Two Tree representative stated. gry for new developments,” Mr. Bar-Lev con- lifestyle shops that are the staples of estab- Another building that has recently cluded. His predictions are spot on.

14 luxury rentals june/july 2012

LR_0612_Westside.indd 14 6/1/12 3:30:52 PM Live the dream. NO FEE MANHATTAN APARTMENT RENTALS in New York’s best neighborhoods.

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magpage.indd 1 4/20/12 12:25:57 PM GOING GREEN

NEW YORK REALTY DOES GREEN LIKE Sustainability WE DO EVERYTHING ELSE—WITH PIZAZZ! is Stylish By Ben Weitzenkorn EW YORK is a lot of things. We’re America’s most popu- lace city, a cosmopolitan center, the cultural capital of the world and a leader in design A view of Nand innovation. When the world wants to Verdesian. know what’s coming up next—they look here. In New York, we pack 7,000 people into each square quarter of a mile, so we’re always looking for solutions to make living in such cramped environs as great as possible. We’ve been doing it for over 100 years—we pretty much have to. Great innovations—the subway, Brooklyn Bridge, one of America’s first skyscrapers—have always risen to meet the city’s needs, keeping it livable, functional and moving New York changes and grows. Following in this tradition, New York is quickly becoming a leader in sustainable, ver- tical living. Mark Menendez, Executive Vice President at Prudential Douglas Elliman and Director of Elliman Rentals, knows that New Yorkers understand that taking care of the environment leads to an improved quality of life. “Green building is no longer considered just a marketing ploy,” he said. “These buildings are doing their part to make that happen and renters are very happy to know that their choices can make a difference.” Mr. Menendez believes everyone—from

The exterior of 1214 Fifth Avenue from Central Park. TWO TREES AND ONFORCE SOLAR AND ONFORCE TREES TWO

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OnForce Solar panels. A leafy look at The Solaire’s exterior. tHE ALBANESE ORGANIZA ALBANESE tHE

the home buyer to the builder—needs to tal quality and reduced energy costs are start on the 21st floor to take advantage of play a role in environmental stewardship. two of the attributes residents talk most mind blowing views of Central Park, the “It’s our industry’s responsibility to embrace about,” Mr. Gubbins said. “A lot of people building uses 30 percent less water than is [green construction] fully and make it our are starting their families and want to be in legally required and 15 percent less energy. standard going forward to improve the qual- an environmentally friendly setting.” Other features include a 1,500 square foot ity of life for all of us,” he said. Gary Jacob, Executive Vice President at health and fitness center and a lobby that A trend of green luxury rental towers has Glenwood Management, said environmental literally brings Museum Mile inside with been on the rise over the past decade and initiatives at their building Emerald Green, sculpture and painting. four of them intertwine luxury and sustain- are a prime example of their dedication to Daria Salusbury, Senior Vice President ability unlike anywhere else. The Solaire, the utmost in quality of life. “Sustainable and at Related Companies, the building’s at 20 River Terrace, the adjacent Verdesian features in this building include green roofs developer, said the it’s “iconic address makes at 211 North End Avenue, Emerald Green that utilize recaptured water, roof terraces this building the epitome of luxury rental liv- at 320 West 38th Street and 1214 Fifth ing,” while actively engaging in a sustainable Avenue, all cater to residents who seek to lifestyle. combine lavishness with green living. The ‘It’s our industry’s Charles Feit, CEO of OnForce Solar, a com- first three are LEED certified, a designation responsibility to pany that provides solar technologies to big used by the federal government to recognize and small businesses as well as homeowners, “Leadership in Energy and Environmental embrace [green has also noticed an uptick in the interest and Design.” The latter expects to receive that construction] fully and adoption of a green lifestyle, mainly through certification soon. the adoption of solar energy technology. The United States Green Building Council make it our standard As the cost of solar continues to drop, New has established a framework for developers, Yorkers are giving it a serious look. owners and operators to implement practi- going forward to “Residential solar adoption is increas- cal, energy efficient solutions with a measur- improve the quality ing dramatically in the New York metro able impact. Their LEED stamps of approval area due to new financing mechanisms and are increasingly sought after as smart, luxury of life for all of us.’ solar lease programs,” he said. “The eco- renters look to make environmentally sound Mark Menendez, nomics are equally as compelling for both choices in all aspect of their lives. Prudential Douglas Elliman residential and commercial market seg- Michael Gubbins, Vice President of ments,” Mr. Feit said. When homeowners residential property management for the with heat reflective pavers, electric car char- and businesses choose solar ... the result is developer of The Solaire and Verdesian, gers, water-efficient plumbing and sustain- an average four year payback ... Once the the Albanese Organization, explained able bamboo wood flooring [are] throughout system is paid for—free energy for the next how fresh outdoor air is delivered into all every home,” he said. “As a company, we’re 25-plus years.” of the apartments through a double-fil- dedicated to clean and sustainable develop- Our mass transit, locally sourced food tration system and humidifier and how ment and are focused on incorporating these markets and walking and bicycle culture their large windows allow much more elements [into] future projects.” are living proof of the fact that New Yorkers light into the units than an average NYC This philosophy, Mr. Jacob said, attracts care about sustainability. These new luxury apartment. “Since the Solaire opened in a diverse mix of residents “from young rental towers are just the latest chapter in 2003, it has had a great reputation for ser- professionals and couples, to families and New York’s commitment to efficiency and vice and being environmentally friendly,” empty-nesters – who all appreciate living the environment. As the rest of the country Mr. Gubbins said. Based on that and other in a luxury, full-service property that is also and the world strive to find solutions to com- amenities like a state of the art fitness cen- built from an environmentally conscious bat global warming, New York is emerging ter and rooftop garden, he said, turn over standpoint.” out as a leader in urban sustainability. And is pretty low. “The indoor environmen- At 1214 Fifth Avenue, where residences we look great doing it.

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Untitled-20 1 6/1/12 3:08:28 PM DECORATING SHOWCASE

DESIGN

makeSTARS apartment magic at Kips Bay Decorator Show House By Benjamin-Émile Le Hay

NEW YORK CITY’S LEADING interior designers 12,000 youth annually. This is the first time in history once again participated in the Kips Bay Decorator that the Kips Bay Decorator Show, which runs until Show House, now celebrating its 40th year. In May, mid-June, takes place on the Upper West Side. Luxury the Show House Committee hosted a VIP dinner and Rentals was on the scene at the opening to take in the preview of the showcase at the Aldyn Residences. 6,000 square foot penthouses that were revamped— Most importantly, the Show House events support floor to ceiling—with incredible, opulent designs. Here the Kips Bay Boys and Girls Club, which serves over are some of our favorite collaborations and spaces.

Kahan respectively. With all that design Laura Bohn porn, you might be too transfixed to notice It was all about texture, bright colors and the breathtaking views of the Hudson River. embracing your inner-youth at in-demand designer Laura Bohn’s room. Her team cre- Brian del Toro ated an innovative child’s playroom lined with fuzzy brush tiles from Robin Reigi on It’s the painted finish wooden panels that one wall while installing 3-D tiles above. make Mr. del Toro’s study a winner. He too, Circular shag rugs from Edward Fields, is a protégé of Albert Hadley (and David configurable and malleable foil curtain Kleinberg) at Parish Hadley. Romantic, from ElasticCo. and plush sport-themed yet masculine, jewel tones emitted a mid- pillow chairs only added to the fun, avid century American elegance, without over- modern concept. Not too shabby for a city whelming. He selected art and meubles kid! that either referenced or originated from France, Italy, Germany, Africa and Sweden, which keeps things contemporary and Brian J. McCarthy, Inc. cosmopolitan. Bunny Williams, Inc. David Kleinberg Design Associates Laura Bohn Shawn Henderson This trio emulated a gentlemanly atmo- Shawn Henderson’s sensual den played sphere in their refined sitting room. pieces and antiques. For that extra exclu- with naughty themes without digressing Inspired by their mentor Albert Hadley of sive touch, they incorporated fine art by into vulgarity. He and his team ingeniously Parish Hadley, they blended modern 20th Jacqueline Humphries and Le Corbusier on fused sumptuous touches that tickle the century furniture with stately heirloom loan from Greene Naftali Gallery and Jane senses. In the middle of the room, he hung

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Bunny Williams, Inc. David Kleinberg Design Associates

Brian del tor0

a metal chain and sheepskin covered swing. The walls were flawlessly upholstered in velvet and hugged gorgeous crown mold- ings. The seduction continued with subtle gray-blue, eggshell and chrome tones, modern curiosités and objets d’art.

Alexander Doherty “The collector’s bedroom” is an appro- shawn henderson james rixner priate title for Alexander Doherty’s space. He has kept things sensible with Susan Zises Green James Rixner a French twist: ‘30s, ‘40s and ‘50s furniture, paintings and lighting, with a taste of “Sophisticated. Classic. Timeless.” For his fifth round at Kips Bay Show Americana. “It’s often a challenge convinc- With a motto like that it’s no wonder inte- House, James Rixner took over a fam- ing clients that paneling is the right choice rior designer Susan Zises Green keeps busy ily room, which flowed into a chef’s for they tend all too quickly to conjure up with demanding clients in Manhattan, The kitchen. He colored his space in rich images of stiff, formal salons in French Hamptons, Fairfield County, Palm Beach sky blues, earthen greens, lime and châteaux,” Mr. Doherty said. and Nantucket. She created the Entry and softer neutrals. Winter white leather Living Room portions of one of the pent- chairs and ashen kitchen counters houses and sought inspiration from the were adult, but gentle. Mr. Rixner alexander doherty flow of the Hudson River. Her fabulous con- appropriately called his work “Heart cept of textured fabrics such as linen, wood, of the Home.” It was truly a symbol of silk, cotton and seashells made her room stylish lavishness. feel extra fanciful.

susan zises green

june/july 2012 luxury rentals PB

LR_0612_Decor.indd 21 6/1/12 3:33:24 PM Location Studio 1BR 2BR 3BR Location Studio 1BR 2BR 3BR

Chelsea $2516 3338 4922 5978 SoHo/TriBeCa $2473 3863 6417 8960

East Village $1932 2823 3284 4291 Upper East Side $1745 2497 3400 5714

Gramercy/Flatiron $2305 3260 4803 5845 Upper West Side $1969 2642 4029 6276

Harlem $1303 1656 2027 2808 Wall Street/BPC $2540 3386 4650 5500

Lower East Side $1875 2202 3349 4348 Washington Heights $1250 1500 1713 2350

Midtown East $1982 2505 3900 4975 West Village $2401 3554 4529 6500

Midtown West $2316 3437 4735 5477 April Average $2025 2785 3891 5186

Morningside Heights $1695 2299 3007 4088 March Average $1953 2747 3865 5107

Murray Hill $2077 2812 3593 4680 % Change 4% 1% 1% 2%

BLDG Classification Studio 1BR 2BR 3BR BLDG Classification Studio 1BR 2BR 3BR

New Development w/ DM* $2909 3982 6561 8634 Elevator*** $2231 3086 4221 5753

Doorman $2529 3689 5687 7059 Walkup** $1972 2580 3459 4785

* New Developments include all rental and condo buildings built after 2004. **Walkup averages include brownstone and townhouse rentals. ***Elevator averages in the downtown neighborhoods include a significant number of loft rentals compared to other neighborhoods.

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Untitled-5 2 5/29/12 6:06:16 PM Luxury Rentals advertising directory

Bettina Equities: Living Well, In the World’s Emerald Green, Glenwood’s Greatest City. Bettina is known for affordable first LEED-certified rental prices that make Manhattan living in the finest building, offers residents buildings within reach, with NO FEE! Attractive superior construction, studios, spacious three-bedroom duplexes and impeccable finishes, attentive triplexes in the most desired neighborhoods: service and convenient East/West Side, Clinton, Murray Hill, Gramercy amenities. Residents enjoy such Park, Union Square and East Village. Experience features as front-load washers the difference in the way our buildings are run and dryers in every home, 24- with a quality commitment and ongoing attention hour doormen, fully equipped to amenities such as exceptional maintenance/ children’s playroom and a state-of-the-art fitness center. Comprised upgrades, a responsive management staff of 568 spacious apartments ranging from alcove studios to two- and roomy, comfortable layouts. bedroom, two bathroom homes with large terraces, Emerald Green www.bettinaequities.com. stands as the prime residential addition to Midtown West. (212) 744-3330. Visit www.glenwoodnyc.com or call (212) 535-0500.

Mercedes House, New York’s latest breakthrough development, is changing the cityscape forever. From Two Trees Management For nearly a century, Prudential Douglas Elliman Company and visionary architect has been recognized as a leader in the residential real Enrique Norten comes a luxury estate industry. With more that 3,500 agents and over 60 rental complex with unobstructed offices from Manhattan to Montauk, the company’s reach is views of the Hudson and a design surpassed. Prudential Douglas Elliman offers its customers that has recast the city skyline. a comprehensive array of services including residential Inside its zigzagging footprint, sales and rental brokerage, retail and commercial sales & residents of Mercedes House leasing, relocation, new development marketing, property don’t just rent a home - with the management, mortgage brokerage and title insurance. extraordinary array of amenities, So whether you’re in the Manhattan, Brooklyn, Queens, they embrace a lifestyle. Mercedes Westchester or Long Island, including the Hamptons and North House is the address for life in style. Fork, there is a Prudential Douglas Elliman office and agent www.mercedeshouseny.com ready to assist you in any of your real estate needs. 212.876.6666 Please contact 1.800.ELLIMAN or visit elliman.com

Steps away from the Hudson With over 15 years River, Silver Towers is of experience in the one of the newest luxury New York real estate rental buildings to rise on marketplace, Sotheby’s West 42nd Street. With an International Realty emphasis on amenities for Senior Vice President the best kind of city living, Eric Malley, who is residents enjoy daily shuttle ranked in the top 2% of service, Abigail Michaels all 46,000 NRT brokers nationwide, brings a formidable set of skills concierge, Clay Health Club to his brokerage practice. Prior to joining Sotheby’s International and Spa, a 75-ft indoor Realty, Mr. Malley has the unique distinction of being the founder pool, nail salon, children’s and principal of his own real estate investment company, room, entertaining terrace, peaceful inner courtyard, park, dog run, MalleyGroup, which is now aligned with Sotheby’s International garage, and cafe. Apartments range from studios to 2-bedrooms, lofts Realty. Over the past five years, he surpassed the expectations of to penthouses. The statuesque towers offer exceptional apartment a turbulent economic climate, generating more than 350 million layouts with multiple corner city and river views. dollars in transactions. For more information please contact For more information, visit silvertowers.com or call 212.473.4242. 212-604-7625 or email [email protected]

Launched by Founder and CEO Andrew Heiberger in 2010, Town Residential is a Manhattan-based real estate services firm specializing in luxury residential sales, rentals and new developments. Already an integral part of the New York real estate landscape, Town has opened six offices in under two years and built a hand-picked team now exceeding 325 licensed representatives and staff.For more information, please visit Townrealestate.com.

For advertising information, contact Robyn Reiss (212) 407-9382 | [email protected]

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The seven story Townhouse at 45 East 74th Street is representative of architectural craftsmaship and design that pays homage to the classic sense of style and elegance characteristic of the historic Upper East Side.

The townhouse, perfectly positioned on a prime residential block between Park and Madison Avenues, is nestled in the heart of Manhattan’s historic Gold Coast. Originally constructed in 1879, a century later, this spectacular home has been dramatically reinvented and technologically transformed into one of the world’s most beautiful residences. Priced at $33 Million Web ID: 935757

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Imagine your life at Silver Towers. Impromptu Saturday matinees of the newest Broadway musical. Wednesday night gallery openings and just a short walk home. Daily jogs along the Hudson River. Nightly wine and cheese on the roof deck after another spectacular sunset.

Silver Towers’ central location in Midtown allows each resident to fully enjoy all that Manhattan has to offer. With an amenity package that includes a ﬁ tness center, 75’ pool, concierge, and roof deck with bbqs and cabanas, as well as easy access to several subways and the East side via shuttle service, your life will never have felt so easy and fulﬁ lled. Stop imagining and start living the Silver Towers experience.

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Untitled-3 1 5/29/12 3:03:09 PM SILVER TOWERS 20815 OBSERVER 8.125x10.75.indd 1 5/24/12 12:07 PM