FROM MONICA
Dear Clients and Friends,
We’re excited to welcome May with all the latest in real estate and lifestyle! This month, we're featuring an incredible new rental in beautiful Sagaponack perfect for your summer escape.
You’ll also find curated dining picks, local NYC activities, and the newest spots in entertainment, fashion, and more. Plus, we’re spotlighting key new developments, giving global market updates, and everything you need to stay informed this spring season
As the spring real estate market heats up, we’re seeing increased activity and new opportunities across both the city and the Hamptons. Whether you're looking to buy, sell, or rent, now is a great time to make a move
Best,
F O O D & D I N I N G
LEONESSA
Leonessa, inspired by the Amalfi Coast, offers a charming venue in downtown Manhattan with colorful seating and a fountain reminiscent of a classic palazzo terrace Beyond being a cocktail destination, it serves as a flexible space for private events The bar program highlights Italy's drinking heritage with a curated selection of spirits, wines, and innovative cocktails, including categories like Spritzes and Martinis Located at 102 North End Avenue, Leonessa complements the luxury Conrad New York Downtown hotel, known for its elegance and exceptional service.
MAISON PASSERELLE
Maison Passerelle, by chef Gregory Gourdet, offers a unique take on French cuisine influenced by its former colonies Guests are able to enjoy dishes like chicories with lemongrass and duck confit with palm-fruit oil stew Gourdet, a Top Chef alum and owner of the acclaimed Kann in Portland, will serve as culinary director for Printemps, which includes Maison Passerelle among its five dining venues Located at 1 Wall Street in the Financial District
OYAMEL
The Spanish Diner in Mercado Little Spain has closed José Andrés’s sprawling affordable restaurant opened in 2019 with the debut of Hudson Yards and Mercado Little Spain In its place, Andrés second location of Oyamel is slated to open toward the end of April Oyamel will celebrate Mexico City cuisine with small plates, aguachiles, tortilla soup, and tacos, including carnitas, lengua, and possibly chapulines. It is located at 10 Hudson Yards, with an entrance on 10th Avenue and 30th Street.
30 FRONT STREET Residence 21A/D
The magnificent great room unfolds with an expansive dining area, soaring 11-foot ceilings, and floor-to-ceiling windows that bathe the space in ethereal light This architectural masterpiece is further elevated by a stunning open kitchen, seamlessly blending elegance and functionality Designed for both grand entertaining and intimate gatherings, this enchanting setting invites effortless sophistication and timeless allure.
$16,995,000 $16,995,000
5 BEDROOMS | 5 BATHROOMS + 2 HALF 5 BEDROOMS | 5 BATHROOMS + 2 HALF
N
N E 2 3 D A W N W O O
L A N E July $175,000 - August: $195,000 6 BED | 6.5 BATH | 7,500 SQFT.
Set on 1 2 acres near a serene reserve, this 8,000 sq ft home features 7 bedrooms and 6 baths across three levels. Highlights include a grand foyer, formal living and dining rooms, a spacious great room, and a chef’s kitchen with high-end appliances The primary suite offers a sunlit dressing room and a spa-like bathroom The lower level includes a home theater and additional bedrooms Outdoors, enjoy a heated Gunite pool, BBQ areas, and expansive entertaining spaces in a beautifully landscaped backyard
SPORTS
Prepare for the 151st Kentucky Derby on May 3, 2025, at Churchill Downs, Louisville. Key details include:
Date & Time: Gates open at 9:00 a.m. ET; first race at 11:00 a.m., with the Run for the Roses at 6:57 p.m. ET
Tickets: Various packages are available, with options for both infield and Millionaire’s Row
Viewing: Watch live on NBC and USA Network (2:30-7:30 p.m. ET) or stream via NBC Sports app and Peacock
Top Contenders:
Burnham Square
Sandman
Journalism Rodriguez
Tiztastic
FRENCH OPEN - ROLAND GARROS
The 2025 French Open will take place from May 25 to June 8 at Roland Garros, Paris Practice starts on May 19, with qualifying matches also scheduled Key dates include:
Women's Singles Final: June 7, 2 PM
Men's Singles Final: June 8, 2 PM
Schedule Highlights:
May 25-27:
First-round matches for men and women
May 28-29: Second rounds and doubles events
June 1-2: Fourth rounds and quarter-finals
June 3-5: Semi-finals for singles and doubles
June 6: Men's singles semi-finals
June 7-8: Finals for women's and men's singles
FAENA NEW YORK PLANS SPRING DEBUT IN WEST CHELSEA
Faena New York will launch this spring at One High Line in West Chelsea, Manhattan, as part of Accor's portfolio The hotel occupies the first ten floors of a 26-story tower, featuring 120 rooms with views of the Hudson River and Manhattan skyline. Designed by Bjarke Ingels, the building merges contemporary aesthetics with industrial legacy, while interiors by Gilles & Boissier reflect the city's culture.
Renowned chef Francis Mallmann will lead a signature dining experience in a 5,000-square-foot restaurant. The hotel also includes the Tierra Santa Healing House spa, offering various wellness treatments and a fitness center Additionally, Faena Rose members can enjoy an exclusive nightclub, The Living Room, with outdoor terraces, live entertainment, and private dining.
FEATURED PROPERTY
860 PARK AVENUE, RESIDENCE#6
Nestled at 860 Park Avenue, this spacious pre-war co-op on the Upper East Side harmoniously marries contemporary elegance with traditional charm Encompassing 4,400 square feet, this resplendent abode features 12 rooms, including 5 bedrooms and 5 5 bathrooms A private elevator foyer ushers you into a marble gallery, leading to a luminous 28-foot living room adorned with dual exposures and a cozy wood-burning fireplace, while the formal dining room beckons for grand gatherings The chef's kitchen, a culinary haven, boasts high-end appliances and a delightful breakfast room
The serene primary suite, a sanctuary of peace, offers a walk-through dressing room and an opulent en-suite bathroom. Additional treasures include a cherry wood-paneled library, private staff quarters, elegant oak floors, central air conditioning, integrated sound, and two generous storage units
860 Park Avenue stands as a distinguished, landmarked full-service cooperative in the vibrant heart of Lenox Hill, mere moments from the lush expanse of Central Park Its prime location places residents within arm's reach of the Metropolitan Museum of Art, Museum Mile, and the finest shopping and dining experiences the city has to offer
Contact for Pricing + More Infomration
MARKET UPDATE 2025
SPRING MANHATTAN MARKET UPDATE
The Manhattan spring market is gaining momentum, yet it hasn't fully hit its stride Despite the figures, buyer interest remains robust, indicating that potential deals may soon emerge Additionally, mortgage rates have decreased, providing some relief for buyers, particularly in the sub-$2M range, although the effect on overall activity has been minimal
In the luxury market, which includes properties priced at $4M and above, stability is being maintained thanks to affluent buyers and new development sales, potentially helping to stabilize broader market perceptions Across the nation, inventory levels are increasing in other areas, but New York City continues to experience tight conditions Mortgage rates are expected to stay relatively high in May 2025, likely lingering between 6% and 7%, with some analysts predicting a slight dip towards the end of the year While a significant reduction seems improbable, a gradual decline to around 6% is anticipated. Influencing factors such as inflation, Federal Reserve policies, and economic growth will continue to impact these rates
GLOBAL
MARKET UPDATE
Global Market Update: Tariffs
Trump’s proposed 10% minimum tariff on all U S imports has reignited global trade tensions, with higher rates targeting over 60 countries notably China, the EU, and Japan
The UK fares best among G7 nations, facing only the baseline 10%
The CBOE VIX spiked above 60 before settling at 40 7, signaling elevated market fear
In rates, the UK 5-year SONIA swap dropped to 3 77%, as markets now price in three BoE rate cuts, balancing tariff impacts with falling oil prices. Volatility remains a key theme
GLOBAL SCALE IN ALLIANCE WITH KNIGHT FRANK
71 LANGUAGES SPOKEN OVER 487 OFFICES IN 53 COUNTRIES
NEW DEVELOPMENT
THE 74
201 EAST 74TH STREET PARK
Seldom has an opportunity surpassed its expectations quite like this On 74th Street a historic block
Seldom has an opportunity surpassed its expectations quite like this On 74th Street a historic block in Manhattan’s Upper East Side a contemporary answer to the area’s timeless elegance has in Manhattan’s Upper East Side a contemporary answer to the area’s timeless elegance has emerged Introducing the stylish new “it” building welcome to THE 74 Designed by Pelli Clarke & emerged. the stylish new “it” building welcome to THE 74. Designed by Pelli Clarke &
Partners with interiors crafted by AD100’s Rafael de Cárdenas, THE 74 features 42 unique residences,
Partners with interiors crafted by AD100’s Rafael de Cárdenas, THE 74 features 42 unique residences, including options with two to five bedrooms, along with duplex, full-floor, and penthouse selections including options with two to five bedrooms, along with duplex, full-floor, and penthouse selections
PRIVATE RESIDENTIAL AMENITIES & SERVICES
Main lobby located on Third Avenue, plus a separate entrance on 74th Street
24-hour attended lobby for your convenience
Library Lounge featuring a wet bar and a Private Garden Terrace
Cutting-edge Gym complete with a Pilates studio
Formal Dining Room and Private Lounge, accompanied by a Catering Kitchen
Children’s Playroom for young residents
Package and mail room for deliveries
Laundry room equipped with commercial-grade washers and dryers
OUTER BOUNDARIES TRAVEL
CURATED JOURNEYS & ELEVATED EXPERIENCES
Outer Boundaries, emphasizes meaningful discovery beyond typical tourism, focusing on authentic connections with places and cultures. Clients experience genuine interactions, like sharing meals with locals or exploring hidden gems, leading to personal transformation They strive to be a trusted partner, ensuring that travel experiences are handled with care, honesty, and transparency Their goal is to exceed client expectations, fostering connections rather than mere transactions and empowering individuals to explore the world
WIDELL
+ BOSCHETTI
INTERIOR DESIGN STUDIO
Barette Widell and Christina Boschetti, founders of Widell + Boschetti, specialize in blending luxury, functionality, and contemporary style to transform spaces into unique experiences. Their design philosophy combines eclectic elements that reflect clients' lifestyles while maintaining elegance. They craft tailored interiors, whether starting anew or reimagining existing spaces, through a collaborative process that ensures authenticity
W + B emphasizes client service by managing every project aspect and valuing client input while also offering innovative suggestions Their comprehensive approach includes understanding individual needs, aesthetics, and budgets, ensuring high-quality service from concept to execution. They invite clients to collaborate on extraordinary transformations of their spaces.
O C A L APPENINGS
THE INSECT WORLD AT IMAGINARI
The year-long exhibition "The Insect World" showcases the crucial role of insects in our lives Visitors can explore fields with 6-foot flowers, view bug-themed artwork by Picasso, and see a mantis under a disco ball The display includes giant ladybug sculptures and 200 artificial monarch butterflies on a 12-foot cherry blossom tree, promoting environmental stewardship Tickets are $36, and the exhibition is open to all ages throughout the year
EVERYTHING TO KNOW ABOUT THE 2025 MET GALA
The 2025 Met Gala will take place on Monday, May 5.
What is the Met Gala 2025 theme?
“Superfine: Tailoring Black Style ” Drawing inspiration from Monica L Miller’s 2009 book Slaves to Fashion: Black Dandyism and the Styling of Black Diasporic Identity, the exhibition is organized into 12 sections, each representing a characteristic that defines dandy style
Who is hosting the Met Gala 2025?
Colman Domingo, Lewis Hamilton, A$AP Rocky, Pharrell Williams, and Anna Wintour will co-chair the 2025 Met Gala, with LeBron James serving as an honorary chair
SECOND CITY COMEDY CLUB IN BROOKLYN
The Second City famous for its comedy clubs in Chicago and Toronto has just launched a new location in Brooklyn, and you're sure to enjoy a good laugh there. This New York City venue opened its doors on the 65th anniversary of the legendary club and features uproarious live comedy every night of the week
Many of the most celebrated names in comedy began their careers at Second City Notable alumni include Bill Murray, Eugene Levy, Catherine O'Hara, Amber Ruffin, Keegan-Michael Key, Chris Farley, Tina Fey, Stephen Colbert, and Aidy Bryant
MORTGAGE RATES
Mortgage Rates Expected to Move Lower in 2025 and 2026
Fannie Mae’s Economic and Strategic Research (ESR) Group has updated its mortgage rate forecast, now projecting rates to end 2025 at approximately 6.3% and 2026 at 6.2%. These are downward revisions of three-tenths of a percentage point, reflecting a slightly more optimistic outlook for homebuyers. This expected decline is good news for the housing market and could provide a modest lift in home sales this year, particularly among buyers who have been waiting for more favorable conditions.
While total home sales are still forecasted to remain relatively subdued overall, the easing of mortgage rates may be enough to encourage renewed activity, especially as we move through the busy spring and summer seasons. Fannie Mae's Senior VP and Chief Economist, Mark Palim, noted that interest rates remain one of the most important factors influencing home sales and with rates anticipated to trend lower in the near term, some additional momentum is expected
On the broader economic front, GDP growth projections have been slightly reduced to 1.7% for 2025 and 2.1% for 2026, due to softer economic data and evolving trade policy Even so, the combination of stable economic conditions and gradually falling mortgage rates could support a more positive housing outlook as the year progresses.
ARTS & FASHION ARTS & FASHION
PRADA ACQUIRES VERSACE FOR NEARLY $1.4 BILLION
LOUIS VUITTON MADE AN EDIBLE VERSION OF ITS ICONIC EGG BAG
Prada is acquiring Versace from Capri Holdings for €1.25 billion ($1 38 billion), reshaping the fashion industry and enhancing Prada's position against LVMH and Kering This acquisition emphasizes confidence in "Made in Italy" as Prada seeks to leverage Versace’s unique identity for global growth CEO Andrea Guerra sees Versace as a complementary brand with potential The deal will be financed with over €1 billion in debt and is expected to close later this year, pending regulatory approval. Despite market challenges, Prada reported a 17% revenue increase for 2024, boosted by Miu Miu's 93% sales growth
Louis Vuitton is elevating luxury with its 2025 Easter Collection, featuring the “Chocolate Egg Bag,” a collaboration with pastry chef Maxime Frederic This edible version of the iconic Egg Bag, originally designed for the Spring-Summer 2019 show, is made of 70% dark chocolate with embossed Louis Vuitton designs and includes a leather handle and zipper made from 40% milk chocolate. Weighing 970 grams, it contains a decadent filling of milk chocolate and hazelnut gianduja, showcasing the fusion of leatherworking and chocolate artistry
ENTERTAINMENT ENTERTAINMENT
SWIFTY’S WILL OPEN IN HAMPTONS
Swifty’s, a cherished Upper East Side establishment that closed in 2016, is making a comeback in East Hampton The new location will take over the space previously occupied by Sartiano’s, which faced local disputes Swifty’s aims to resonate with the upscale residents of East Hampton after recent success in Palm Beach. The Colony Hotel owners are acquiring the historic Hedges space for this revival
GOOD MORNING AMERICA TO LEAVE TIMES SQUARE THIS SUMMER
Good Morning America will leave its iconic Times Square studio this summer after nearly 26 years, relocating to the Robert A. Iger building at 7 Hudson Square The show has been in Times Square since September 1999, with notable guests like Serena Williams at its opening. The new building will centralize ABC News' operations, including news and live productions, previously spread across different locations The transition follows similar moves by other ABC programs and CBS Mornings, which is also leaving Times Square due to costcutting measures.
