I remember the sheer thrill of being the first person to occupy my new loft at the Lion’s Head Condo in Chelsea about 17 years ago. I bought it off a floor plan. It had 16-foot ceilings and so much cubic space—it was amazing. But it also had a view of the garbage area of the building to the north—not something that was highlighted in the offering documents! I still enjoyed living there (for six months) but ultimately moved on.

I also remember the sheer thrill of stepping into the 57th-floor condo we had at the Orion on West 42nd Street. We were also the first to occupy that one. The views stretched from river to river, the Midtown skyline glittered, and even Central Park seemed close enough to touch. Living up in the clouds was magnificent in every way—until reality kicked in when facing the elements of the “Deuce” while walking the dog. Wow, what a contrast! We stayed there for two exciting years.

There’s something undeniably special about being the first—untouched appliances, flawless finishes, and the knowledge that everything is pristine. That’s part of the magic of buying new, and many are attracted to the allure of the "shiny new penny."

But then there’s the other side. I’ve renovated eleven properties in New York City and beyond and have enjoyed a lot of it. I know firsthand the satisfaction of crafting a space exactly the way I want it. But I also know the other reality: the stress, the unexpected costs, the permitting delays, and the months (or years!) of waiting. And financing? Traditional lenders won’t finance a renovation, so unless you have cash or can secure a construction loan, you’re on your own.

And here’s the kicker—just like I’ve never bought a brand-new car (because you lose a chunk of its value the second you drive it off the lot), the same principle can apply to new development. You often pay a premium for the privilege of being the first owner. That shiny new penny might depreciate the moment you close, depending on market conditions. But on the flip side, some developments hold their value so well that you could flip your unit immediately and recoup that premium—if you’ve chosen wisely. And these days, many are negotiable (with the right agent on your side).

There are strong arguments for both:

The Case for New Development

✅ Move-in ready—no waiting, no construction headaches

✅ Financing available upfront (unlike a renovation)

✅ Designed by world-renowned architects and interior designers, often at a scale individual homeowners can’t afford

✅ Modern amenities, from wellness centers to rooftop lounges

The Case for Not-New (Renovation or Resale)

✅ Potentially lower purchase price with room to add value

✅ Customization—you get exactly what you want

✅ No “new development premium” baked into your purchase price (which also often includes additional purchaser closing costs)

✅ Older buildings may offer more character, larger layouts, and solid construction

So, which is better? It depends on your priorities. If you want turnkey luxury and minimal stress, new might be the way to go—and some developers are currently negotiating prices aggressively! If you have the vision (and patience) to create something uniquely yours, the sweat equity of a renovation could pay off.

Regardless of your ultimate choice, my team and I are here to guide you through this exciting process and help you make the right decision!

Needless to say given the materials used to construct it, the art piece seeks to turn everyone's attention to matters involving biodiversity. According to the release, in fact, New York used to be known as the "big oyster" because of the abundance of shellfish in its harbor.

Among the many public art works now on display all around New York, we must admit that "Love Ever After" feels extremely powerful—and it's not even up yet!

Saheem Ali, who holds the title of Associate Artistic Director/Resident Director at the Public and who directed the 2021 show Merry Wives at Shakespeare in the Park, will helm the production. Nyong'o will play Viola, a shipwrecked maiden who disguises herself as a boy to serve the man she loves, Orsino (Khris Davis), who dispatches her to court the wealthy and beautiful noblewoman Olivia (Oh) on his behalf, only for Olivia to fall for the boy that Viola is pretending to be—who is not to be confused, but inevitably is confused, with Viola's twin brother, Sebastian, whom she closely resembles and falsely believes to be dead. In a neat twist of casting, Sebastian will be played by Nyong'o's real-life brother, Junior Nyong’o. 

Dinklage will costar as Olivia's pompous major domo, Malvolio, who harbors secret romantic designs on his mistress; Ferguson will be Sir Andrew Aguecheek, a hapless fop who also fancies the well-favored Olivia, and Bill Camp will be Olivia's ne'er-do-well uncle, Sir Toby Belch. Daphne Rubin-Vega and Moses Sumney help fill out the principal cast as Maria and Feste, mischievous members of Olivia's household. The remaining cast members have not yet been announced. 

The Public's summer series has offered free stagings of Shakespeare plays since 1962, except for last summer and the pandemic summer of 2020. The Public has released several artist's renderings of the renovated Delacorte. Here are two more. See you at Central Park this summer!

The Bryant Park Grill, which has overlooked the park from its perch behind the New York Public Library for 30 years, will close at the end of April and be replaced by a Jean-Georges restaurant next year.

Dan Biederman, president of the nonprofit Bryant Park Corporation, announced the plan during a contentious committee meeting of Manhattan Community Board 5 on Monday, saying that Jean-Georges had “the best combination of operating record, financial strength and creative talent in food and design,” and that an 18-year lease would be signed in the next few days.

Biederman narrowed his choice from among 11 "serious applications" submitted in response to a parks department-required request for proposals for the new lease. The Bryant Park Grill, which is part of the Ark Restaurants Corp. and has been fighting to continue operating, was among them. The grill and its outdoor porch generated $31 million in sales in the latest fiscal year, but Biederman has previously said a new operator could generate perhaps $40 million.

The new restaurant would be licensed from Jean-Georges Restaurants and operated by Seaport Entertainment Group, or SEG, a public company that owns 25% of the celebrity chef’s restaurant empire and operates the Tin Building by Jean-Georges, its food hall at the South Street Seaport.

SEG plans to conduct a $12 million renovation, reopen the porch seating this October, and open a new full-service restaurant by May 2026, Chief Financial Officer Matt Partridge said at the meeting.

The new restaurant would be custom-designed for the space but would have elements similar to Jean-Georges’ first restaurant JoJo, which opened in an Upper East Side townhouse in 1991, Partridge said.

Upper West Side | Maintenance: $11,518

Offered at: 

A rare opportunity to enjoy townhouse living with the full services of a white-glove building at 15 West 81st Street. Apartment 2D is an incredible 11-room duplex as originally crafted by Emery Roth with views of the Rose Planetarium and the Museum of Natural History. This masterpiece of a home is perfectly designed and impeccably renovated.

Enjoy the best of both worlds with a grand-scale classic apartment above a sprawling maisonette. Located on the 1st and 2nd floors of one of the Upper West Side’s most distinctive prewar cooperatives, this magnificent residence offers unparalleled grandeur, scale, and finishes. Resplendent with outstanding natural light streaming through the south-facing windows, the sprawling abode features a graceful layout and wonderful scale.

The 2nd floor is reached by a semi-private elevator landing where you are met with the more formal section of the residence with a grand scale classic six-room layout. A gracious marble-clad gallery with a stunning staircase connects both formal living areas. On the south end of the gallery is a lavish and sun-flooded living room measuring an impressive 16 by 28 feet. The living room offers stunning views from three large windows overlooking the Rose Planetarium and Theodore Roosevelt Park. This formal living space accommodates multiple seating areas, a baby grand piano, and a decorative fireplace.

On the north end of the gallery is the stately formal dining room measuring 14 by 18 feet providing a generous space for entertaining. The powder room is perfectly situated between the formal living and dining rooms.

The fully renovated, eat-in kitchen boasts a custom-built windowed banquette for casual meals and an additional large window with sunny courtyard views. No detail was overlooked in this chef’s dream with solid wood cabinetry throughout, rich stone counters and backsplash, and the best high-end appliances including a Viking range, an oversized SubZero fridge, a vented Miele hood, and a Miele dishwasher.

The primary suite is nothing short of astonishing with sunny southern exposures and a dressing room that accommodates the largest of wardrobes. The large en-suite bath features floor-to-ceiling marble, a double vanity, a huge walk-in rain shower, a deep soaking tub, and timeless brass fixtures.

The large second bedroom has been converted into a stunning library featuring rich, back-lit solid wood cabinetry, bookshelves, paneling, and tremendous storage. This cozy and comfortable room is the perfect oasis for quiet and solitude.

Descend the grand staircase to the maisonette level of the home with a convenient separate street-level entrance for true townhouse living. This lower level of the duplex features an expansive great room large enough for game tables, billiards, and more.

A cozy but generous screening room and temperature-controlled wine cellar provide the perfect setting for all-encompassing entertainment. The lower level of the residence also features three large bedrooms with renovated en-suite baths each boasting floor-to-ceiling marble and the best fixtures and finishes.

Additional notable features of this custom home include central AC, a separate laundry room, a staff bedroom with an en suite bath, a full Crestron system for all the AV and lights in the entire residence, solid oak floors, tall ceilings with recessed lighting, and elegant moldings.

15 West 81st Street is a well-established, white-glove cooperative with a reputation for stellar service and located on one of the most sought-after blocks in Manhattan just off Central Park West and across from the Museum of Natural History and the Rose Planetarium. Modern building amenities include a state-of-the-art fitness center, bike room, playroom, and separate storage rooms for owners. 50% financing permitted and a 2% flip tax payable by the purchaser.