Manhattan apartment prices hit record high

Source: Macklowe Properties and CIM Group

The average apartment price in Manhattan hit a record $1.72 million in 2014, as the New York wealthy and overseas rich continue to seek safety in the New York skyline.

While sales volume is slowing, prices continue to rise in New York as strong demand competes for historically low supply. The average sale price for the year topped the previous peak in 2008, of $1.591 million, according to a report from Douglas Elliman and Miller Samuel Real Estate Appraisers.

For the fourth quarter, average sales prices topped $1.74 million, up 13 percent from the fourth quarter of 2013. The median sales price for the quarter was up 15 percent from a year ago, to $980,000—the second highest for a quarter.

The surge in prices shows the high-end real-estate boom in New York is still robust as more wealth pours into coveted properties in the top global markets.

The average apartment price in Manhattan hit a record $1.72 million in 2014, as the New York wealthy and overseas rich continue to seek safety in the New York skyline.

While sales volume is slowing, prices continue to rise in New York as strong demand competes for historically low supply. The average sale price for the year topped the previous peak in 2008, of $1.591 million, according to a report from Douglas Elliman and Miller Samuel Real Estate Appraisers.

For the fourth quarter, average sales prices topped $1.74 million, up 13 percent from the fourth quarter of 2013. The median sales price for the quarter was up 15 percent from a year ago, to $980,000—the second highest for a quarter.

The surge in prices shows the high-end real-estate boom in New York is still robust as more wealth pours into coveted properties in the top global markets.

Article by:
Robert Frank
Photo Source: Macklowe Properties and CIM Group

http://www.cnbc.com

10 Best Wine Travel Destinations 2015

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Wine’s transporting experience is one of the reasons we continually come back for more. Taste a great Rioja, and you’re instantly taken to the sun-drenched, rolling hills of northern Spain. Pop the cork of a Tasmanian sparkler, and boom—you’re standing in the crystalline water of Cole’s Bay. Tasting wine is a trip unto itself.

Yet there’s something to be said for the connection made when we travel to the place in which great wine is made, and the insight that experience can offer us regarding what’s in the glass.

Each year, our editors traipse the globe in search of the world’s most exciting wine destinations. From the iconic Old World to surprising newcomers, the following list should shape your travel plans for the year to come.

Finger Lakes

Within the world of fine wines, the Finger Lakes wine region in upstate New York is a soon-to-be revealed secret. Nestled amidst bucolic farmland and the spindly glacial lakes for which the region is named, it’s home to some of the best cool-climate wines in America. Known particularly for world-class Riesling, it’s also home to an increasingly diverse array of wines, from Grüner Veltliner to Teroldego. Over 100 wineries surround the three main lakes, Cayuga, Seneca and Keuka. But with spectacular sights and a blossoming local food culture, the region is unlikely to stay hidden for long. —Anna Lee C. Iijima

Piedmont

Located in northwest Italy and bordering Switzerland and France, Piedmont is Italy’s second-largest region, and the most mountainous. The majestic, snow-capped Alps make a stunning backdrop to the rolling, vine-covered hills. And these aren’t just any vineyards. Designated as a UNESCO World Heritage Site in June 2014, vineyards in the Langhe, Roero and Monferrato areas are amongst the most celebrated in Italy. They’re home to famed reds made from Nebbiolo, Barbera and Dolcetto, as well as Moscato d’Asti, a lightly frothy dessert wine. Piedmont, which means “foot of the mountain,” is also a culinary paradise, famed for its rare white truffles. Throw in outstanding lodgings, and you have a wine lover’s dream destination. —Kerin O’Keefe

Hawkes Bay

This bucolic region excels at classic Bordeaux varieties, while Syrah is angling to become the area’s flagship wine. Beyond the bottle, however, the landscape, food and people are, as the country’s marketing slogan campaign says, 100% pure New Zealand. In this grape-growing paradise, rumpled hills sprinkled with sheep are intersected by rivers and hug a spectacular curved bay along the Pacific coast of the North Island, while sheltering ranges tuck vineyards in from the west. Warm, dry summers and long autumns—mixed with a maritime climate—keep grapes healthy and happy. Because Kiwis have a strong affinity for the outdoors, athletically inclined wine lovers can pursue both health and happiness, cycling a network of well-organized biking trails between winery visits and farm-to-table repasts. —Lauren Mowery

Rhône Valley

France’s second-largest wine-growing area is vastly diverse. Breathtakingly beautiful villages and well-tended vineyards line the region’s 13 wine trails, highlighting the different landscapes of the Côtes du Rhône and Côtes du Rhône Villages. Starting at the Camargue, the routes head up through Provence toward Lyon, providing insight into culture and winegrowing along the way. The Rhône Valley covers roughly 150 miles and 5,500 estates, and it’s traditionally demarcated between the narrow north and sprawling south. You’ll need to make some tough choices, depending on the length of your trip. —Louise Hurren

Orlando

Expect the unexpected in Orlando. Shrugging off its just-for-kids image, it sports brag-inducing eats and world-class wine experiences, particularly in new neighborhoods like the Mills 50 District and Winter Park. Ricky Ly, author of The Food Lovers’ Guide to Orlando, points to nominations of several local chefs for James Beard Foundation awards to illustrate the city’s culinary chops. “From hidden speakeasies like The Pharmacy, to the Basque-style restaurant, Txokos Basque Kitchen, serving cola-and-wine-braised kalimotxos pork belly, there is something to be found for every wine and food lover just outside the theme park gates.” —Alexis Korman

Galicia

Occupying the northwestern corner of Spain, Galicia is a unique part of the country, a region settled by Visigoths and Celts, where the residents still speak a language known as Gallego. Galicia’s four provinces comprise Spain’s emerald oasis, where copious amounts of rainfall during winter and spring swell the region’s rivers and turn the countryside green. A major part of the verdant landscape includes vineyards, with the wine regions of Rías Baixas, Ribeiro, Ribeira Sacra, Valdeorras and Monterrei all offering excellent touring and tasting opportunities. Add Galicia’s world-class seafood, and the region qualifies as a top destination for adventurous wine-and-food lovers. —Michael Schachner

Okanagan

The license plates read “Beautiful British Columbia.” Ubiquitous ads call it “Super, Natural.” But taglines don’t do justice to the splendor and variety of Canada’s southwestern province. One shining jewel within the region is the Okanagan Valley, located about 240 miles east of Vancouver. Located between the Coastal and Monashee mountain ranges, the valley is anchored by a series of narrow, crystalline lakes. Long a center for agriculture, it’s also a four-season outdoor playground. Water sports, golf, winter sports, hiking, biking—you name it, the Okanagan has it going full blast. But it’s the 131 wineries, more than 8,000 acres of vineyard and broad range of wines that make this one of the greatest wine touring experiences in the world. —Paul Gregutt

Loire Valley

As if designed for riverside picnics, the Loire River flows by vineyards from the mountains of central France to the Atlantic Ocean. The best and most diverse vines are rooted in the Loire’s heart, in the Anjou and Touraine regions, which are but a 90-minute train ride from Paris. It was here, in the 16th century, that French classic cuisine first found its great expression. This is France’s best wine discovery region for big castles, medieval cities and small family wineries. Tasting Chenin Blanc and Cabernet Franc here will forever change your perceptions of these grapes. —Roger Voss

Mendocino

Mendocino County has 107 wineries and more than 17,000 acres of vineyards, but it draws visitors for other pleasures like giant redwoods, Dungeness crab, wild chanterelle mushrooms, an exhilarating rocky coast and, yes, marijuana cultivation. Mendocino is laid-back, to say the least. A two-plus hour drive north of San Francisco through Sonoma County, traffic is practically nonexistent except for logging trucks. Tasting rooms and restaurants are rarely crowded, but lodging options are scarce except on the coast near the New England-esque town of Mendocino. Ukiah, in the warmer, drier inland valley along Highway 101, is the biggest city, with a whopping population of 16,000. Since 95 percent of the land in Mendocino County is rolling or mountainous, it offers plenty of bends in the road to explore. —Jim Gordon

Istria

​The wedge-shaped Adriatic peninsula known as Istria has a rich and dramatic history. It was part of the Austro-Hungarian Empire, then ruled by Italy, later incorporated into Yugoslavia and is today governed by Croatia. Ninety percent of Istria is in Croatia, with the remainder in neighboring Slovenia and Italy. Remnants of a distant Roman past, Venetian Empire architecture, picturesque hilltop villages, panoramic sea views, year-round festivals, inspired cuisine and fantastic wines are all reasons to put Istria on your bucket list of wine regions to visit. —Mike DeSimone and Jeff Jenssen

—The Editors of Wine Enthusiast

http://www.winemag.com/

Brikk Lux Apple Watch on pre-order for only $74,995

Los Angeles based Brikk have announced the launch of their Lux Watch product collection, which includes 30 luxury models of the upcoming Apple Watch, that afford unmatched opulence to an exclusive clientele worldwide. The Brikk Lux Apple Watch is now available for pre-order in yellow gold, pink gold or platinum with diamonds for an extraordinary fusion of luxury with technology.

brikk

The Lux Watch is built in both 38mm and 42mm sizes and can be had in 24-carat yellow gold, 18-carat pink gold, and 950 platinum. Customers have the ability to select from three different versions: The Standard, The Deluxe, and The Omni. The Lux Watch Standard offers a single row of diamonds totaling .50 carats around the face, and comes with a leather strap. The Lux Watch Deluxe has 2.3 carats of diamonds in multiple rows around the face, diamond encrusted buttons, and a leather strap with diamond studded clasp. For the ultimate in exclusivity, the Lux Watch Omni has a fully diamond-wrapped case and band of over 12 carats of diamonds.

LuxWatches

The Lux Watch line is crafted using meticulous production processes. Each piece is disassembled inside Brikkís laboratory in Los Angeles by a team of skilled engineers. The components are hand polished, then plated with five layers of diverse metals before a final plating with two layers of either gold or platinum. High quality diamonds (color D, clarity VVS1) are set with a microscope in a custom-machined bezel. Each piece is then reassembled and tested before shipping to clients.

Starting prices range from $7,495 for the economy Lux Watch Standard, to $11,995 for the Lux Watch Deluxe, and soar to from $69,995 to $74,995 for the Lux Watch Omni. All models are packaged in a Zero Halliburton aluminum case with carbon fiber interior.

Each Lux Watch also comes with all standard accessories, a user manual, a diamond-embedded certificate of authenticity, and a 1-year warranty.

Brikk is currently accepting pre-orders for the first batch of Lux watches before the Apple Watch’s anticipated official launch in April. A deposit is required for each pre-order. The pre-order Lux Watches are expected to ship some four to six weeks after the official Apple Watch release.

The vision of CEO Cyrus Blacksmith, Brikkís exacting and durable processes used are modeled on practises scientific researchers use in the aerospace and medical fields. Brikkís ëprofit for philanthropyí model funnels proceeds to assist populations in need around the world.

For more information, visit www.brikk.com.

Article by:
Charles Moore
www.technologytell.com

Record-Breaking $15.2 Billion Worth of Art Was Sold in 2014

Art has once again proved itself to be a stable investment as global art sales reached record-breaking heights totaling $15.2 billion, reports the Telegraph.

The billion of dollars worth of art that was sold at auction during the year was a 26 percent increase from 2013, Artprice stated in its annual report, which is produced with the China-based Chinese art platform Artron. Of the auction transactions, 1,679 sales of $1 million or more were recorded—four times the amount that was recorded more than a decade ago.

Mainland China, Hong Kong, and Taiwan were market leaders, responsible for $5.6 billion in sales, followed by the United States. However, the slowdown in China’s economy and its crackdown on corruption have curtailed total spending, as sales were down 5 percent from 2013.

US auction houses saw a 41 percent increase to $4.8 billion in spending from 2013, and British houses saw a 35 percent increase to $2.8 billion in sales from 2013.

“Demand is constant and aggressive on every continent…notably from museums,” said Artprice CEO Thierry Ehrmann.

Wang Jie, president of Artprice and Artron added, “More museums were created between 2000 and 2005 than during the entire 19th and 20th centuries” and they need “a minimum of 3,000 to 4,000 quality works to be credible.”

Artprice also stated that the upper threshold for works could soon break the $1 billion ceiling, as just this month a Gauguin sold privately for $300 million (see Paul Gauguin Painting Sells for Record $300 Million to Qatar Museums in Private Sale).

Article by:
Christie Chu

 

http://news.artnet.com

Yoox Group turnover surpasses 500 million euros

Italian based e-commerce group Yoox archives 2014 surpassing for the first time 500 million in revenue (turnover stood at 524.3 million, up 15.1%) and with profits up 9, 8% to 12.6 million euro. The growth was fueled by the strong increase in orders, passed 2.8 million to 3.64 million, with growth of over 20%; and found again, more pronounced in the field of multi-brand owned by the group (yoox.com, thecorner.com and shoescribe.com) than in single-brand for the fashion brands: revenues for the first amounted to a total of 381, 7 million, an increase of 16.3%, while the brand achieved sales of 142.6 million euros, still in double-digit growth.

Nicholas Kirkwood SS 2015 available at Yoox.com

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Burberry partners with Twitter for personalized photos

Burberry has partnered with Twitter to offer users of the social media site the chance to capture pictures of its London Fashion Week (LFW) women’swear show live from the runway later today.

By tweeting #Tweetcam to the @Burberry Twitter account, users will trigger a camera to take a photograph from the best vantage point within the show space as the models walk down the runway. Each picture is then personalised with the user’s Twitter handle, a time stamp of the moment the image was taken and then tweeted back to them.

The luxury fashion house, known for its forward-thinking digital and social activity around its LFW shows, has previously worked with Twitter on a number of initiatives. In 2012 Twitter provided an in-tweet live stream of Burberry’s Spring/Summer show, and last September the fashion brand sold its products through Twitter Buy Now functionality.

Burberry #Tweetcam collaboration Twitter

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Prada revenue down 1 percent for full year to 31 Jan 2015

For the year ended January 31, 2015, the Prada Group totaled 3.55 billion euro revenue, down 1% from the year before. The company faced a difficult situation in Asia-Pacific (-5%) while the Americas sales increased (+ 8%).The turnover is slightly lower than analysts’ estimates reported by Thomson Reuters SmartEstimate Analysts, who had expected a figure of 3.57 billion euro.

The retail channel generated in the 12 months 2.98 billion euro, substantially in line with the previous year. In Europe, in particular, the group that controls the brands Prada, Miu Miu, Church’s and Car Shoe recorded a sales drop of 1% due to weak domestic demand and lower tourist spending. The disappointing performance in the East can be explained, according to the company, with the deterioration in market conditions especially in Macau and Hong Kong (where the Prada Group is listed). A negative influence on the performance of Greater China,was also the fact that the budget did not take into account sales during the Chinese New Year, celebrated this year in February. In contrast, revenues in Japan, increased by 8% in the fiscal year. Despite the decline of Russian tourists, sales in the Middle East rose by 10%.

The Prada brand, which represents 83% of the total turnover of the group, has suffered a -1.7%. Miu Miu has scored a + 4% while Church’s and Car Shoe grew in double digits (+ 14.8% and + 12.7% respectively).

“The geopolitical scenario and the currency in which we work – says Patrizio Bertelli, CEO of Prada Spa – has been around for 2014 more uncertain and more complex than could have been expected. This situation, which led to a temporary break in the path of development of the group. However, did not change our growth targets medium to long term, we will continue to pursue adapting strategy and organizational structure in an evolving global context. The medium-term plan continues with targeted industrial investments in marketing and retail, necessary to ensure a strong future growth, always putting extreme attention to costs, in order to preserve margins and allow adequate returns on investment. ”

Prada store Sanya China at Haitang Bay

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CERVO, Zermatt – understated authentic Swiss Alpine luxury

CERVO Mountain Boutique Resort in the legendary ski town of Zermatt redefines authentic luxury Swiss hospitality with a contemporary and inherently understated identity. While guests can ski right up to the entrance, the resort has been conceived by young hoteliers Daniel and Seraina to be much more than a ski oriented resort. Its two restaurants, bar and outdoor terrace overlooking the Matterhorn have firmly positioned CERVO as a lifestyle destination for non-residence seeking an exceptional luxury experience, both in service and quality of offerings.

Daniel Lauber wanted to be an hotelier since childhood. After studying at the Swiss Hotel Management School Lucerne, and training at international five-stars in both the United States and Switzerland, he broke ground in 2009 with CERVO Mountain Boutique Resort—his family-owned ski chalet that he converted into a 35-room hotel with his wife and chef Seraina. Nowadays, although he seems forever present, Daniel manages a team he built around personalized and attentive service. The passion to be part of Cervo’s team and witnessing high levels of customer satisfaction are the key drivers behind the performance of the very young team.

Local materials like felt, loden, and stone converge with vintage curios in the main building, a converted 1950s chalet that still has its original wooden floor. A predominantly hunting theme is omnipresent throughout the interior design concept of the entire resort. The curved, stylized antlers of a deer appear sporadically throughout the complex (‘cervo’ in Italian means deer).

The second restaurant of the resort, Ferdinand, launched recently, is defined by Alpine casual dining – raclette, fondue and BBQ.  The atmosphere is hip, Ferdinand offering a taste of the cosmopolitan life in Zermatt. All products at Ferdinand are local, sourced either from the Valais region or elsewhere in Switzerland. I was impressed not only by the quality of dishes but also by the friendly, efficient and very intuitive service with a homey feel.

My room, the Deluxe Spa Suite, probably has the most spectacular mountain views, with a lavish terrace, a strategically placed jacuzzi providing the ideal romantic or relaxation spot. The bathroom also featured a state-of-the-art Spa shower which could also turn into a steam-bath. The sweeping panoramic views were blissful admired from the hand-made King Size, Hästens bed, probably one of the most comfortable beds I have slept in my recent travels. Other important details: Molton Brown amenities with a candle in each room, working fireplace in all suites, complimentary mini-bar, complimentary high-speed wi-fi internet throughout the entire resort.

For my first visit to Zermatt, I must admit I was truly surprised by the overall laid-back feel of the town and the lack of the overt luxury, which some of the other famed Swiss resorts rely on. The ”show off”’ factor driven by luxury shopping (major international brands) and fancy F&B outlets are replaced in Zermatt by family-owned Swiss food & beverage outlets and retail stores, mostly with ski equipment. The only well represented luxury retail segment in Zermatt is watches, with all major Swiss luxury brands represented, including a Patek Phillippe mono-brand corner. Zermatt is certainly for those seeking privacy and lack of show-off.

More photos are available on our Facebook page. A video preview of the Spa suite can be watched here.

Oliver Petcu in Zermatt

Cervo Boutique Resort, Zermatt

 

 

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Luxury Loama Resort opens on Maamigili island in the Maldives

Loama Resort Maldives at Maamigili is a teardrop-shaped private island that was once the playground of ancient kings; part of the northernmost and largely undiscovered Raa Atoll and representing the final frontier of the Maldives, where absolute seclusion can be secured.

As for the resort’s anticipated Spa, guests can enjoy treatments in either the Beach Villas surrounded by the beauty of Maldivian skyline or in one of the glass-bottomed Ocean Villa rooms offering views into crystal clear waters below during a well deserved massage.

The resort’s over-water villas perch elegantly on poles above the shimmering turquoise shallows of the Indian Ocean, while its beach villas offer contemporary style with charming and authentically Maldivian touches. Each room comes with its own Maldivian name that reflects its heritage, history and significance in the culture of the Maldives. Elaborate roofs of thatched coconut and traditional Maldivian ornamentation help immerse guests in a culturally rich environment, while modern conveniences such as an outdoor deck and rain showers add a touch of contemporary sophistication.

As a tribute to the opulent ancestry found in the Maldives the resort has established the Maldives’ first gallery of contemporary Maldivian art, Loama Art Gallery, in a stunning over-water pavilion near the resort’s main arrival pier and with the blessing of the National Art Gallery of Maldives in Male.

It already houses an important collection of artefacts from key periods of Maldivian history, from an extensive collection of 15th century Chinese porcelain to the discovery of a pair of 11th century sunken baths on the island.

The resort features six gastronomic havens, each offering a distinct epicurean experience.

Loama Resort opens in Maldives at Maamigili
Loama Resort opens in Maldives at Maamigili

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The 27th Annual Yacht and Brokerage Show in Miami Beach, Feb 12-16, 2015

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The 27th annual Yacht and Brokerage Show in Miami Beach will transform Collins Avenue into a multi-million dollar presentation of yachts including the world’s most extraordinary and uniquely designed yachts and superyachts from the world’s foremost custom boat builders. The in-water-only display presentation covers more than 1.2 million square feet of space over a mile-long strip of Indian Creek Waterway, featuring hundreds of new and pre-owned vessels valued at more than a billion dollars. This Miami boat show is in the heart of beautiful Miami Beach on Indian Creek Waterway at Collins Avenue (S.R. A1A) – from 41st to 51st Streets.

BOAT SHOW SCHEDULE
February 12 – 16, 2015
Thurs. Feb 12, 10am – 7pm
Fri. Feb 13, 10am – 7pm
Sat. Feb 14, 10am – 7pm
Sun. Feb 15, 10am – 7pm
Mon. Feb 16, 10am – 5pm

SHOW ADMISSION
FREE to the public