NEW YORK : New-found energy

 

New York, the capital of all challenges and centre of all energies, is once again forging ahead. In the west of Manhattan, in the renovated Hudson Yards district, the crown jewel of international businesses stands tall behind the blue windows of the next-generation skyscraper. Older buildings are having their restructuring completed to meet the demands of remote working. The show must go on. Near the One World Trade Center, preparations are under way for the opening of the gigantic Ronald O. Perelman Performing Arts Center. In the land of art galleries, TriBeCa is on track to dethrone Chelsea, while the theatres have once again switched on their neon signs on Broadway. And the restaurants are laying their tables. New York never ceases to amaze.

The real estate market: Complete reconversion

Prices in New York have seen steady increases over the long term, interspersed with the occasional temporary shock (often less than 6 months) of limited intensity. On average over the last four decades, the annual increase has stood at around 3%. While prices appeared to stagnate as of the end of 2018, the pandemic naturally caused a standstill real estate activity, albeit limited to the quarters two and three of 2020, resulting in a relative price fall of around 10%.

But the market quickly resumed its growth as of late 2020, with prices returning to the same levels as previous years. Average prices in Manhattan are around €13,000/sq.m, and €9,500/sq.m in Brooklyn, though they can reach dizzying heights for exceptional properties.

Our advice

It’s all about location: TriBeCa, SoHo, Hudson Yards in Manhattan and Dumbo in Brooklyn. Go for new buildings rather than more dilapidated units. Lastly, with the exception of detached homes and townhouses, which are both rare and costly, properties with flexible spaces (rooms/additional spaces to use as an office) and/or outdoor spaces (balcony, terrace, rooftop, garden level) are the priority, says Yann Rousseau, Managing Partner of BARNES New York.

“If you’re looking to sell, now’s the time! The market is buoyant. If you’re looking to buy, check out the new development opportunities and make sure you’re in good hands.”

Recommendations “Think about location, transport, charges and renovation work (as well as ongoing construction), the ownership structure (condo vs. coop) and the services (concierge and lift in particular).”

Top locations Manhattan as a whole is recommended (excluding certain localised pockets). All the waterfront areas of Brooklyn (near the East River).

Life at 100 miles per hour

BARNES has put together a selection of top restaurants, trendy boutiques and cultural venues to help you discover what the Big Apple has to offer! Diaries at the ready!

Ideas for cultural outings

David Zwirner

©David Zwirner

German expat David Zwirner puts together incredible exhibitions on historic figures and movements (Dan Flavin, West Coast Minimalism) at his different galleries and exhibits a wide range of contemporary international artists including the eminent Marcel Dzama, Luc Tuymans, Chris Ofili, Neo Rauch and Lisa Yuskavage, to name but a few. On now: Toni Morrison’s Black Book.

David Zwirner — 525 West 19th Street, New York, NY 10011

The Met/In America

©The Met

The exhibition In America in the Anna Wintour Costume Center is a two-part exploration of fashion in the United States. Some one hundred men’s and women’s ensembles by a diverse range of designers from the 1940s to the present are featured, organized into 12 sections that explore defining emotional qualities: Nostalgia, Belonging, Delight, Joy, Wonder, Affinity, Confidence, Strength, Desire, Assurance, Comfort, and Consciousness.

Metropolitan Museum of Art — 1000 5th Ave, New York, NY 10028

Isamu Noguchi/Danh Vo : a cloud and flowers

©Isamu Noguchi

For his exhibition in Mudam’s Henry J. and Erna D. Leir Pavilion, artist Danh Vo (born 1975) continues his ongoing meditation on the work of sculptor Isamu Noguchi (1904-1988). This new installation is designed as an intimate dialogue between his own practice and the work of this historical figure of modern art.

Noguchi Museum — 9-01 33rd Rd, Queens, NY 1110

 

Simon Hantaï at the Gagosian Gallery

©Gagosian Gallery

Eighteen paintings by Simon Hantaï. ‘Les blancs de la couleur, la couleur du blanc’, curated by Anne Baldassari, is the second solo exhibition of Hantaï’s work since 2019. Many of the works have never been previously exhibited. The title alludes to the use of white in several works made using the artist’s pliage (folding) technique, in which a canvas is crumpled and knotted, painted over, and then spread out to reveal a pattern of alternations between pigment and ground.

Gagosian Gallery — 980 Madison Avenue, New York, NY 10075

Out and about

Frankie Shop

©Frankie Shop

This boutique in the Lower East Side offers a vast selection of ready-to-wear women’s fashion in the form of affordable luxe-looking basics tailored to the city lifestyle. Whether hailing a cab, riding a bike or taking the subway. Classic cuts and timeless touches for an effortless and elegant everyday wardrobe.

Frankie Shop — 100 Stanton St, New York, NY 10002

Coming soon

©Coming soon

A design shop like no other in central Manhattan, selling furniture and a selection of gifts. The two founders, Helena Barquet and Fabiana Faria, have drawn on their experience (in fine arts and high-end design) to propose an eclectic and unique selection.

Coming Soon — 53 Canal St, New York, NY 10002

Rachel Comey

©Rachel Comey

Head to Nolita in Lower Manhattan for an ultra-chic selection of women’s ready-to-wear fashion — leather Bermuda shorts, oversize blazers and hiking sneakers. The good news is that the brand also has a website where you can find second-hand items.

Rachel Comey — 95 Crosby St, New York, NY 10012

Bergdorf Goodman

©Bergdorf Goodman

Bergdorf Goodman is New York’s landmark department store. Located on the world-famous 5th Avenue for over 120 years, it has seen throngs of celebrities walk through its doors. It stocks some of the biggest fashion brands (both haute couture and ready-to-wear) as well as a small number of more exclusive labels.

Bergdorf Goodman — 754 5th Ave, New York, NY 10019

The hottest reservations in town

Magnolia Bakery

©Magnolia Bakery

If you only try one bakeshop in New York, make sure it’s this one. Located in the very chic West Village, it notably featured in several episodes of Sex and the City. Carrie Bradshaw was right: the cupcakes are sublime and the décor is oh-so New York.

Magnolia Bakery — West 11th Street, 401 Bleecker St, New York, 10014

Lilia

©Lilia

The best of Italy at the heart of Williamsburg (Brooklyn). On the menu at this charming restaurant are wood fired seafood, hand crafted pastas, classic Italian cocktails and (the icing on the cake) warm hospitality. For a casual dining experience.

Lilia — 567 Union Ave, Brooklyn, NY 11211

Nami Nori

©Nami Nori

Located in the West Village in south-west Manhattan, Nami Nori is a casual temaki bar specialising in open-style sushi hand rolls. The menu features signature temaki, including crunchy varieties, as well as takes on the classics and a special vegan section. Not to mention Japanese-inspired snacks and appetizers, along with a selection of beer, sake and wine, available on tap and by the bottle.

Nami Nori — 33 Carmine St, New York, NY 10014

La Mercerie

©La Mercerie

A dine-and-shop operation in Lower Manhattan with all the elegance of a Parisian café. You can even reserve a table for breakfast. Warm brioche and bowls of crème anglaise to be enjoyed in the spacious dining room flooded with light all morning. And don’t forget to stop by the flower shop on your way out to pick up a bouquet of freshly cut flowers.

La Mercerie — 53 Howard St, New York, NY 10013

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