Ten artists found a way to make vacant commercial space incredibly exciting. I wandered by 25 Central Park West on a walk in my neighborhood a few days ago and saw artists inside. They were hard at work cleaning, preparing and hanging their pieces. Tapping on the window was one of my smartest moves this week. By doing so, I learned of a new exhibition, which opened Wednesday night. The show, 10 from 25: Emerging Artists using Photography, is set to run through December 13, 2009. It includes flat art and video, bringing to life an empty space in a part of Manhattan generally forgotten by the art community.

The artists, including Bess Greenberg, who gave me a tour of the space as she and the other artists prepared for opening night, have created an integrated show that doesn't sacrifice the message of each of the participants. So, in addition to a group exhibition, visitors are treated to 10 individual efforts, in which one can appreciate a specific style without having to cope with the intrusion of other pieces on his experience.

The Phillips de Pury auction on Thursday night raked in what once would have come from a single painting. Despite parading out pieces by Andy Warhol, Jeff Koons and Richard Prince, the sale was good for a mere $7 million, with individual lots moving for prices in the hundreds of thousands of dollars. Thirty-nine went under the gavel, and eight didn't sell.

The Chelsea auction house lacks the savvy, knowledge and reach of Sotheby's and Christie's, so it had to lean on British art collector Charles Saatchi, who has agreed to complete most of his transactions through Phillips de Pury. In trade, subsidies from the auction house help keep access to Saatchi's gallery free.

Roughly a dozen of the lots came from Saatchi, while the others are said to have been rejected by Sotheby's and Christie's. In general, the pieces were "pretty skimpy," according to Manhattan art dealer Edward Tyler Nahem, who observes that the auction house "did pretty well with what they had."

Japanese artist Yayoi Kusama was the top seller, with her painting "Infinity Nets (T.W.A.)" busting past its high-end presale estimate of $400,000 and settling at $842,500 (including fees). Kusama's performance follows a well-hyped exhibition at the Gagosian Gallery this year.

Bernie Madoff's last home may have sold strong, but it looks like the momentum is fading. His home in the Hamptons beat the listing price and ultimately moved for more than $9.4 million. Unfortunately for his victims, interest in his Manhattan penthouse and Palm Beach estate isn't as strong. The prices for both have been cut, as the Ponzi schemer moves from news to history. Both homes have been on the market for only two months.

The Manhattan home, on the Upper East Side, offers 4,000 square feet which the broker, Sotheby's International Realty, says is "perched atop a distinguished white-glove prewar cooperative." Originally offered at $9.9 million, the asking price has been slashed by $1 million. So, if you're looking for some new digs in the city, this should be perched atop your list. A 10 percent price drop after only two months in the game means that you could probably work the price down a little bit further. If you were a Madoff investor, think of it as recouping some of what was so wrongly taken from you.

The situation in Palm Beach, Florida isn't much better. The discount is only 7 percent, with the price plunging from $8.49 million to $7.9 million according to the Corcoran Group, which is handling the sale. This home is billed as "a return to classic Florida island living ... when Palm Beach was a less manicured tropical paradise." What does that mean? Does classical Florida island living have anything to do with defrauding the neighbors?

Madoff, now a resident of Butner, North Carolina, believed that the Manhattan apartment was worth only $7 million. He pegged the Palm Beach residence at $11 million.

When both properties move, the proceeds will go to Madoff's victims. Of the $65 million, roughly, that he took, $1.4 billion is said to have been recovered. Even when compared to the investor losses identified, $21.2 billion, it's but a drop in the bucket. The auction scheduled for Saturday may help a little bit, with Bernie's Mets jacket and Ruth's golf clubs going under the gavel.

Christie's tried in New York with a 1983 piece by Jean-Michel Basquiat and didn't succeed. The auction house may have been too aggressive in estimating the 16-foot piece at $9 million. That's what's tough about the art market right now. There are signs of recovery, and it can be tempting to push for higher prices. Unfortunately, it's easy to get a bit excited. The painting had the highest estimate at the auction. The piece with the second highest presale estimate, a piece by Andy Warhol, met a similar fate.

The Basquiat piece, "Brother Sausage," was offered anonymously by a buyer later revealed by Bloomberg News to be Peter Brant, an art collector based in Connecticut. The piece may be a casualty of his divorce from model Stephanie Seymour. Well, it won't be financing post-marital discord and could remain a contested asset for a while.

Warhol's "Tunafish Disaster" was projected to move for up to $8 million and, like the Basquiat painting, didn't receive any bids. Art dealer Robert Mnuchin of L&M Arts was stuck taking it home.

Yet, some works beat the odds in an auction that raked in $74.2 million, within the presale range of $61.5 million to $88 million. Nonetheless, this was the lowest result we've seen from a Christie's New York contemporary art effort since May 2003 and down 81 percent from the top of the market two and a half years ago.

The past year has been exciting for fans of La Flor Dominicana. Between El Museo and the Salamones, Litto Gomez has released two of the most noteworthy cigars of 2009. While the rest of the industry has struggled with the effects of the recession, Gomez tells me that La Flor hasn't been hit (and that he is grateful for this fact). He cites the quality of his cigars and loyalty of his customers as reasons, but there's more to the story than that. There are plenty of great cigars on the market, and their smokers bring plenty of zeal to each purchase.

Beyond Litto's assessment, there are two reasons for La Flor's success this year: the new cigars and Litto himself.

This year hasn't been mind-blowing for new cigars. Doubtless, there have been some gems. The Avo Campanero certainly impresed, as Avo's annual limited edition cigar always does. And, Camacho has done a great job with the Room 101 and Connecticut sticks. The norm, however, has been silence, an obvious result in a tough economy. Litto made two bold moves with El Museo and the Salamon, bringing two expensive cigars to smokers at a time when they are less inclined to spend. Clearly, it worked.

Just how bad is the condo situation in New York? Right to the City-New York, an alliance of grassroots community organizations, has identified a total of 601 condominium buildings in a half dozen neighborhoods in New York City that have either stopped construction or have a great deal of vacant units. That number is a lot higher than the 454 recorded by the Department of Buildings for the city as a whole.

Members of Right to the City went through six neighborhoods in Manhattan and Brooklyn finding buildings that aren't being fully utilized in order to show the city how big the problem is. Over the summer the city began a $20 million pilot program called the Housing Asset Renewal Program in order to turn residential buildings into as many as 400 affordable housing units. Among the buildings that Right to the City identified are Be@Schermerhorn, a 246-unit luxury condo, with a vacancy rate of more than 93 percent, and Forté, a 108-unit luxury condo, with a vacancy rate of more than 60 percent. Both buildings have been on the market for at least a year and Forté was recently taken over by its lender Eurohypo bank.

As Crains New York points out, it's not quite clear how many developers might want to participate in the Housing Asset Renewal Program in order to help finish their stalled projects. Many may prefer to simply wait out the current economic doldrums and begin building again when the market picks up.

Earlier this year, NY Post reported that AIG was trying to earn around $100 million by selling its 66-story Art Deco headquarters at 70 Pine Street in Manhattan (it actually sold to Young Woo for $150 million). Now it seems that the real-estate developer might have gotten a great deal. Young Woo will be turning the top 40 floors of AIG's 66-story headquarters near Wall Street into condo units. The Wall Street Journal does the math which shows that even including renovations and other costs the units could generate about $600,000 in profit each. This of course is providing that the Manhattan real estate market doesn't dip too much further down and eventually comes back up. Given that it will likely take the developer a while to prepare the condos for occupation and work up a snazzy marketing campaign, the timing might be ideal.

Last week my colleague Deirdre Woollard reported on the Empire State Building's swanky new lobby, part of a $550 million building-wide renovation project. Now comes word that the New York architectural icon is also getting a great new cocktail lounge from nightlife entrepreneur Mark Grossich, known for elegant boîtes like the Campbell Apartment in Grand Central Station. He's turning a 3,500-sq.-ft. former post office on the skyscraper's ground floor into the Art Deco-style Empire Room, slated to open at the end of November. Design firm Goodman Charlton has cooked up an elegant scheme employing plush mohair, intricate cut velvets, macassar ebony, silver leaf, embossed leather, marble and polished stainless steel in tones of rich brandy, deep cognac, icy silver, and golden cream for the interior (rendering above), meant to evoke a more glamorous era of supper clubs and gentlemanly drinking establishments.

[via Duncan Quinn]

The recently-opened Etiqueta Negra boutique in downtown Manhattan has brought a modern take on masculine, equestrian style all the way from Buenos Aires. The store, which features among other décor elements a 1938 Alfa Romeo racecar (above), carries suits, jackets, jeans and shirts, as well as a line of leather shoes designed exclusively for Etiqueta Negra by Casa Fagliano, the Argentina-based maker of Prince Charles' bespoke polo boots. Prices for the princely footwear, which is not available anywhere else in the U.S., begin at $2,500 a pair. They also carry polo gear as well as women's clothing, though the emphasis is on the menswear.

Related: The Classicist: On Equestrian Style; The Classicist: Exploring the Wide World of Polo

The Benjamin, a Manhattan hotel known for its pillow menu and other sleep-focused amenities, has announced its 10th Anniversary Package. The package starts at $439 per night and includes one 40 Winks spa treatment at the hotel's Wellness Spa, a bottle of champagne, choice of a pillow from the hotel's 12-choice pillow menu delivered to the guest's home after their stay and a stay in a one- bedroom suite. The package is available for stays through December 31, 2009.

The hotel is committed to sleep. A sleep concierge is on staff to advise you on getting your best rest. The hotel also offers a sleep guarantee that promises that you will have a good night's sleep during your stay or they will provide you with a refund.

Water's Edge, the iconic eatery on New York's East River with incredible panoramic views of Manhattan, recently reopened after a $1 million renovation with a brand new menu. Established in 1981 in Long Island City, with the recent revamp the restaurant is entering its third decade in real style. For patrons from Manhattan the Water's Edge dining experience begins with a cruise across the East River on the restaurant's private ferry departing from the East 23rd Street Pier/Skyport Marina. In addition to the elegant main dining room and bar, the restaurant offers riverside outdoor seating, a plush lounge with a fireplace, floor-to-ceiling windows and a private balcony with breathtaking views of the Manhattan skyline and the Queensboro Bridge.

There's also a private event space as well as a 90-ft. luxury yacht docked in front of the restaurant available for cocktail parties and private functions. Highlights of the Eclectic American cuisine include Panko Crusted Oysters with Guacamole and a Red Pepper Reduction; Baby Artichoke Crusted Salmon with Baby Turnips, Spaghetti Squash and Saffron Broth; and Mushroom-Miso Crusted Rack of Lamb with Braised Bok Choy and Whipped Potatoes. The bar features signature drinks such as the Water's Edge Sunset Cocktail, made with Grey Goose vodka, Grand Marnier and fruit juice. In addition they host regular wine tastings and wine pairing dinners.

Last week, Davidoff Madison Avenue celebrated the launch of its new S.T. Dupont "shop-in-shop" concept. Guests were hosted by general manager Michael Herklots to wine and hors d'oeuvres as they walked through Manhattan's upscale tobacconist and perused the latest accessories from the Parisian luxury goods company. In attendance, and offering a few words, was Alain Crevet, CEO of S.T. Dupont Paris, who celebrated the partnership.

"There's been a wonderful synergy and working relationship for a number of years between the Davidoff stores in New York and S.T. Dupont," said Herklots. "We're excited to take this next step with our two brands. Our beautiful Madison Avenue flagship store has always maintained a selection of the finest cigars and good life accessories including those by S.T. Dupont. This new collaboration with S.T. Dupont allows us to offer our customers an even greater range of unique merchandise, in keeping with what they've come to expect from Davidoff of Geneva in New York City."

The shop-in-shop corner within the store is packed with an extensive selection of S.T. Dupont merchandise. Though the company's products are not new to Davidoff Madison Avenue, the build-out offers a unique venue in which to enjoy the Dupont experience. In a tough market for cigars and cigar accessories, the expansion of the Davidoff/S.T. Dupont gives cigar smokers a reason to be excited.

Watch an interview with the Herklots after the jump.

As if a lawsuit in state court weren't enough, Leibovitz may find herself in front of a federal judge, soon. Italian photographer Paolo Pizzetti filed the complaint, alleging that Leibovitz had hired him to take site-scouting photos and then used his product – without permission – in a LavAzza calendar, passing the photos off as her own. Specific sites shot include the Trevi Fountain in Rome and Plaza San Marco in Venice. The calendar was released last October. Pizzetti is looking for $150,000 per infringement and other unspecified damages. The Leibovitz camp has no comment yet, as it hasn't reviewed Pizzetti's filings.

If you have the world at your feet, why not have a home that does your bidding too. A duplex condominium at Trump Tower on Fifth Avenue in New York City with SmartHome technology has been put on the market for $14.995 million. It is listed with Paula Del Nunzio, Senior Vice President, Managing Director of Brown Harris Stevens. The home's system integrates music, security, lighting, climate, window treatments and more and has internet-based remote support so that your home can be controlled from anywhere. Each room has customizable color touch screens with wall, remote and desktop controls. Invisible speakers are concealed behind the walls and ceilings, with iPod docking stations located throughout the apartment. The programmable lighting system offers a multitude of dimming and lighting scenarios.

The home's main entry is on the 48th floor and the floor-to-ceiling windows offer views of Central Park and buildings such as The Plaza and Sherry-Netherland Hotels. On this floor a guest bedroom or library with en-suite bath has views of Central Park. Also off the foyer is a large laundry room and a coat closet. Unlike some deluxe apartments, this one has a kitchen that actually seems made for use with twin Miele dishwashers, a Thermador range, Thermador refrigerator, Miele cappuccino maker, convection microwave and steam oven. Nearby an informal dining space has a 72" Perlick wine cooler, barstools and a banquet and just beyond is the formal dining room. Set beside the informal dining room is a bedroom with en-suite bath.

Upstairs on the 49th floor is the master suite which has his and hers baths with Kohler steam showers with a six-head jet system thermostatically controlled by Kohler's DTV panels both inside and outside of the shower. No need to go downstairs for a snack, a kitchenette with dishwasher and refrigerator sits at the top of the stairs. There is also a separate study or guest bedroom at the end of the corridor. The master bedroom is designed so that the bed is positioned perfectly so that Central Park views are the first thing you see in the morning for a very master-of-all-you-survey feeling. The listing is here.

Experience more lush living in luxury homes and mansions or see the stars living large with celebrity homes galleries at AOL Real Estate.

More signs of real estate reality at Manhattan's pricey 15 Central Park West. The building which once spawned an $80 million listing has been coming back to earth of late. The NY Times reports that the 18th and 19th floor duplex at 15 Central Park West owned by Richard O. Ullman is now listed with a deep price cut that is being kept hush hush. The apartment which was quietly listed for $75 million is now listed with superagent Dolly Lenz for a secret price said to be around $55 million. It would still be a good deal for Ullman who is said to have spent around $23.5 million on the unit.

The terraced penthouse comprises around 5,600 square feet of living space including four bedrooms and 6.5 marble bathrooms. The listing pics show treetop views over Central Park. It is listed at "price available upon request" but I think we can trust the NY Times on this one. The listing does show fees of $6,600 plus $2,000 in taxes per month. In the NYT article another broker says that the apartment was once quietly shopped around for as high as $90 million. Listings in the building do finally seem to be selling, not usually for their optimistic first list price but more often after a few months on the market and a couple of dips into more realistic territory meaning that some people who bought in during the days of real estate exuberance may have a bitter pill to swallow.