NOVO NOVO LLifestyle ifestyle
M A G A Z I N E
Dear Clients,
August brings a dynamic atmosphere to the real estate scene, filled with excitement and promising opportunities! As the final summer festivities wind down, the property market is lively. Prospective buyers are actively seeking their dream homes before the new school year or job season kicks in. For many, the appeal of homeownership and building equity outweighs renting. Meanwhile, sellers are diligently improving their properties to attract these enthusiastic buyers
Whether you have your eye on a NYC loft, a townhouse, or condo, August presents a diverse array of opportunities and thrills in the real estate market. This is the ideal moment to take action.
Best Regards,
FOOD & DINING FOOD & DINING
5 DISHES TO TRY AT MASSARA, THE NEW SIBLING TO MICHELIN-STARRED REZDÔRA
ewlyNewly opened Italian restaurant Massara, at 913 Broadway at East 20th Street, is a larger offshoot of Rezdôra, a nearby establishment famous for its evocation of the food of Emilia-Romagna, focusing especially on a spellbinding list of pastas Massara spotlights pastas, too, but in this case, the menu is centered on the food of Southern Italy, specifically, Campania, which includes Naples, Sorrento, the Amalfi Coast, and Capri: a region that’s known for burrata, spaghetti with clam sauce, and pizza READ HERE
MIAMI’S FANCY WRAP AND SMOOTHIE CHAIN IS OPENING 10 NYC SHOPS
Pura Vida’s first New York location, at 1151 Broadway at 26th Street, will open July 19, and is one of many expected to open in the city
Pura Vida is an upscale fast-casual spot that goes all-in on what they’re saying are natural and local foods, with a menu that highlights “carefully curated ingredient choices” with lots of vegetables as well as vegan and gluten-free items
CAFE PANNA
Gramercy ice cream shop Caffe Panna is now open in Brooklyn The scoop shop, known for its decadent flavors and rotating menu, opened a 4,700-square-foot location on Thursday, July 11 Hallie Meyer, daughter of Shake Shack’s Danny Meyer, debuted the original Caffe Panna in 2019, where she became known for her ice cream inspired by Italian gelato 16 Norman Avenue and Banker Street The new shop will serve 12 flavors at a time five of them change daily plus soft serve and granita Opening hours are Wednesday to Sunday, from 1:30 to 9:30 pm
ICONIC NYC PIZZERIA ROBERTA’S HAS LANDED IN MANHATTAN
The expanded two-story restaurant surpasses the original venue, featuring 200 seats spread across both levels It includes a fullservice restaurant and a second branch of their slice shop, R Slice (more details below) Additionally, the upcoming launch of a tiki bar on the second floor later this month promises to provide a refreshing escape from the current sweltering weather
NEW DEVELOPMENT NEW DEVELOPMENT
MANHATTAN & BROOKLYN
MAVERICK chelsea, NYC
OLYMPIA DUMBO
Brooklyn, NY
MONOGRAM
YORK, NY
THE GREENWICH BY RAFAEL VINOLY New York, NY
NEW YORK NEW YORK
THIS EXHIBIT IS A MUST-SEE, FEATURING THE WORKS OF ONE OF THE MOST EXCEPTIONAL PHOTOGRAPHERS FROM THE 20TH CENTURY.
When Vivian Maier passed away in 2009 at 83, the Chicago Tribune referred to her as a "photographer extraordinaire" in a brief obituary However, her photography had not been widely recognized, with much of her work remaining undeveloped
By a stroke of luck, artist John Maloof stumbled upon a box of her negatives at an auction house and soon realized their exceptional nature After sharing the images with photographers and art experts, Vivian Maier's work finally gained the recognition it merited Today, Maier is acclaimed as one of the greatest photographers of the 20th century, as evidenced by the remarkable exhibition "Unseen Work" at Fotografiska in the Flatiron District until September 29
US OPEN TENNIS TICKET GUIDE 2024
JFK AIRPORT NOW HAS THE LARGEST DELTA LOUNGE IN THE WORLD
the new Delta One Lounge at JFK is the first of its kind and larger than any Delta Sky Lounge in the world Located between Concourses A and B in Terminal 4, it’s a quick walk from security and spans more than 39,000 square feet and has a slew of amenities for the premium traveler, from fine dining to spa-like wellness treatments to valet services and more
READ MORE
The 2024 US Open tournament kicks off Monday, August 26, runs through Labor Day Weekend and finishes on Sunday, September 8
The annual tournament is held at USTA Billie Jean King National Tennis Center in Flushing, New York The US Open is the fourth and final Grand Slam tournament of the season
There are three types of tickets to choose from each day – a single session pass, a day session pass in the grandstands or a day session grounds pass The first few days of competition, there are four sessions Fans can choose tickets for the morning or evening at Arthur Ashe Stadium or Louis Armstrong Stadium
READ MORE HERE
LUXURY GOODS LUXURY GOODS
5 RARE AND COLLECTIBLE ROLEX GMT MASTERS YOU CAN BUY RIGHT NOW
From the Rolex GMT-Master's genesis to its solid gold expressions in the ‘70s and ‘80s, these are five of the most desirable, collectible and valuable GMT-Masters available READ HERE
THE 12 BEST CARS YOU CAN STILL BUY WITH A MANUAL TRANSMISSION
he manual transmission, while unlikely to go fully extinct anytime soon, is becoming increasingly rare Driving culture is changing and so are driving habits; cars are also going electric, so finding a new three-pedal car can be tough, if still not impossible
In the American market, the list of automakers that have abandoned stick shift for good is a lot longer than those that haven’t and includes Mercedes, Audi, Ferrari, Lamborghini, Bentley, Rolls-Royce, Lexus, Jaguar, Maserati, and Aston Martin, to name several Those that are still hanging on are some of the diehards: Porsche and BMW, of course, though also Cadillac SEE LIST HERE
Premium Seats and Hospitality Experiences for the Olympic Games Paris 2024
On Location debuts at the Olympic Games Paris 2024 offering hospitality packages with exclusive access to key events like the Opening and Closing Ceremonies, track and field, gymnastics, and more Private boxes include top-notch services and beverages Travel packages combine event tickets, luxury accommodations in Paris, and custom tour options. VIEW PACKAGES
MIAMI MIAMI
MASSIVE ITALIAN MARKET EATALY IS APPARENTLY HEADED TO MIAMI
The popular Italian food hall is looking to debut a three-story, 29,000-square-foot location inside Aventura Mall near the Nordstrom
Eataly was originally founded by Oscar Farinetti in Torino, Italy, in 2007, who transformed an old vermouth factory into a marketplace celebrating Italian food culture. The concept quickly gained popularity, rapidly expanding to over 40 locations worldwide, including New York, Chicago, and Tokyo Each location is meant to offer an ‘Italian experience’ with various restaurants, food counters, and markets under one roof
8 MIAMI SPA MONTH DEALS THAT ARE ACTUALLY WORTH IT
Miami's top spas, from Coral Gables to Sunny Isles, are offering enticing reduced prices this summer While treatments start at $109, they are not budgetfriendly. We have carefully reviewed the options and selected the finest Miami Spa Months promotions from our trusted favorite Miami spas. Treat yourself to these worthwhile experiences because you deserve it
CASA NEOS
Casa Neos is a luxury complex on the Miami River that touts a boutique hotel, members-only club, two-story Mediterranean restaurant by the same name and a rooftop restaurant and lounge called NOORA that’ll serve Mediterranean and African-inspired cuisine from Turkey, Lebanon and Morocco 40 SW North River Dr
VICEVERSA
ViceVersa’s, a modern aperitivo bar featuring Italian spirits, vermouths, bitters and amaros shaken and stirred with unexpected ingredients The project is a collaboration between Jaguar Sun's Will Thompson and Carey Hynes and Bombay Sapphire Most Imaginative Bartender winner Valentino Longo, best known for his work at The Surf Club 398 NE 5th St
NEW DEVELOPMENT NEW DEVELOPMENT
FLORIDA
SALATO RESIDENCES
Pompano Beach, FL
LAMARE-SIGNATURECOLLECTION
BayHarborIslands,FL
THE RITZ CARLTON RESIDENCE West Palm Beach, FL
EDGE HOUSE
Edgewater, FL
TECH & BUSINESS TECH & BUSINESS
UBER NOW SHOWS AVERAGE WAIT TIMES AND RIDE COSTS IN MANY GLOBAL CITIES.
Uber is rolling out a new feature that lets users see average wait times and costs for rides in more than 10,000 cities
The feature, which aims to make planning summer travel easier, comes as record numbers of travelers are passing through US airports
The average wait times and prices are based on recent historical aggregated data of Uber trips, both on-demand and reserved, within that city, according to Uber Customers can see the price for a specific route at the date and time that they look, but cannot currently adjust the settings to check wait and cost for different times of the day
GOOGLE IS CLOSE TO MAKING ITS BIGGEST ACQUISITION EVER
Google owner Alphabet is in advanced discussions to buy fast-growing cybersecurity startup Wiz for roughly $23 billion, a person familiar with the matter confirmed to CNN
A takeover of Wiz, which makes cybersecurity software for cloud computing, would represent a major bet by Google on cybersecurity, marking the tech giant’s biggest-ever acquisition
Discussions between Google and Wiz began after the startup raised $1 billion from venture capital investors earlier this year READ MORE HERE
NEW IOS 18
Apple’s WWDC 2024 was packed with announcements about iOS 18, its upcoming version of the iPhone operating system, which introduces a host of new features Among the highlights are a set of customization options, such as being able to arrange apps and widgets on the Home Screen and customize buttons. Other features include new text effects, the ability to lock and hide apps, new ways to manage your Mail inbox, the introduction of iMessages over satellite, a significant redesign of the Photos app and more
The major release will be available this fall as a free software update However, if you want to try out iOS 18 a little earlier, the public beta will be available to download next month at betaapplecom
THE HAMPTONS THE HAMPTONS
SARTIANO’S TO OPEN IN THE HAMPTONS
Zero Bond owner Scott Sartiano has thrown in the towel in his fight to bring the exclusive Soho members-only club to the Hamptons this summer choosing instead to open a branch of his celebrity-magnet restaurant Sartiano’s, Side Dish has learned The nightlife impresario will bring the popular Soho restaurant to East Hampton’s storied Hedges Inn, which was supposed to house Zero Bond before local officials put the kibosh on Sartiano’s plans by voting to ensure that all “eating and drinking establishments” close by 11 pm.
READ HERE
LIBERTINE, the cult luxury fashion house from Los Angeles, has brought their characteristic verve and vision to the Hamptons with a customcurated Summer Pop-Up at Sage & Madison in Sag Harbor Village Open now at Sage & Madison (31 Madison Street)
NIKKI’SNOTDOGSTANDINSAGHARBOR
Nikki’s Not Dog Stand is located at 51 Division Street in Sag Harbor You may be asking, if they are not hot dogs, then what are they? Well, they are vegan hot dogs The owner, Nikki Glick, wanted to provide a fast-food place where you could grab a hot dog with all the fixings and an Olipop soda and relax with friends If you have ever driven through Sag Harbor in the summer, you are familiar with the long waiting times, lack of parking, and limited vegan options Well, Nikki’s is the answer You can order online or in person and enjoy your hot dog before carrying on to your next destination It’s the perfect fix for a hot summer day or after grabbing a beer at Murph’s
12 GREAT SUMMER DINING SPOTS IN THE HAMPTONS
SEE HERE for the 12 favorites for high season, from casual waterfront perches to Mediterranean-style escapes
Nestled within the Polo Estates of Old Westbury, secluded behind gates, and spanning over 3 acres, this property boasts vast patios, an inground pool, and a tennis court The house showcases lengthy hallways, a formal living room with lofty ceilings and expansive windows, second-floor landings and balconies, a formal dining room, various spaces for leisure and entertainment, a first-floor bedroom, a guest wing, a primary suite with two bathrooms, an elevator connecting all levels (including a gym, family room, and theater), and much more!
Listing by Maria Babaev at Luxurylongislandcom
$7,500,000 Price GREENWICH, CT GREENWICH, CT 545 INDIAN FIELD ROAD
6 baths 6 Beds
This stunning waterfront Georgian Colonial in Mead Point Association offers breathtaking views of the Long Island Sound Built in 2014, the home features timeless architecture, luxurious finishes, and a sophisticated design The primary suite includes a spa-like bath and balcony Outdoor amenities include multiple seating areas, pool, dock, beach, and cove for various activities Contact for more information
6 baths
6 Beds 1.6 ACRES
$49,500,000 Price 12,500 sqft
MANHATTAN REAL ESTATE MANHATTAN REAL ESTATE
MARKET OVERVIEW - JUNE 2024 MARKET OVERVIEW - JUNE 2024
CONTRACT ACTIVITY
Just under 1,000 contracts signed. Down 12% from May, up 1% YoY.
SALES BY TYPE
Condo sales rose 6% YoY
Co-op sales moderated 2% YoY
LISTED INVENTORY
Increased 3% YoY, 2% from May Active listings totaled 7,539 units
PRICE TRENDS
Average price per square foot: $1,717 (down 12% YoY).
Condos: -15% YoY.
Co-ops: -1% YoY
DISCOUNTS AND PRICING
Average discount: -4 2% off last ask
Condos: -4 5% off last ask
Co-ops: -3 9% off last ask
77% of apartments sold below last ask
MANHATTAN RENTAL MARKET (June 2024)
Median Rent: $4,667/month (up 4% from May)
Highest Ever Recorded
Unit Types: Studios up 8% annually
Listings: 8,120 active (up 5% from May)
Vacancy Rate: 2.14% (up from May, down from June 2023)
Leasing Activity: 4,782 new leases (down 14% from May)
NEW DEVELOPMENT NEW DEVELOPMENT INTERNATIONAL
THE BELLAMY
London E14
ROCCO FORTE PRIVATE VILLAS Sicily, Italy
SLS INFANTAS RESIDENCE Madrid, Spain
ONE GREEN WAY RESIDENCES Quinta Do Lago, Algarve, Portugal
MORTGAGE RATES MORTGAGE RATES
As we navigate the current financial landscape, influenced by market duress and the U S debt ceiling discussions, the Federal Reserve may continue adjusting rates to manage inflation. With the potential for an economic recession, it’s possible we ’ ve already seen the peak of this rate cycle However, given the volatility of interest rates, they could rise again unexpectedly
Looking ahead to August, here are some expert predictions:
“With positive inflation news, significant drops in mortgage rates are unlikely until monetary easing begins. Expect the 30-year mortgage rate to stay in the high-6% range. ”
“Rates should remain stable through July and into August, averaging around 7% for the 30-year fixed rate and 6 75% for the 15-year fixed rate ”
“A cooling labor market and positive inflation news could lead to a rate cut by year-end, potentially lowering mortgage rates to the 6.4%-6.6% range. ”
“Expectations of a rate cut in September, possibly followed by another by year-end, are putting downward pressure on mortgage rates, which could continue to gradually decline ”
