NYC Named America's Richest City With Over 650,000 Millionaires
Filed under: Wealth

Filed under: Wealth

Filed under: Luxury Travel & Hotels, Events, Art

Filed under: Estates, The Classicist, Wealth

Filed under: Estates

Filed under: Dining, Wine, Green
The owners of the acclaimed Leonetti Cellar winery in Washington have announced plans to get into the cattle business. Although wine and beef may sound like completely opposite pursuits Chris Figgins, CEO and winemaker for Leonetti Cellar, says "The whole idea is contrary to modern beef production. We're taking the estate winery model and applying it to beef." Filed under: Dining

Filed under: Yachts & Sailing

Filed under: Luxury Travel & Hotels, Real Estate Developments
The list of the most expensive cities in the United States is now out, and unsurprisingly, New York has taken the top spot, with a cost of living that's double its closest follower. Of course, the financial crisis has put a bit of pressure on real estate prices and the cost of goods all over the country, but there are still some places that just cost a fortune.
New York: a two-bedroom luxury apartment (unfurnished) now costs a mere $4,300, off $200 from last year. And, there are other signs that the most expensive city is becoming less expensive, including the shuttering of Café des Artistes and the opening of our first J.C. Penney (ugh).
Los Angeles: this is where you go if you can afford only half the cost of living in New York. Unlike the most expensive city in the country, it makes sense to have a car out there, but get a nice one: you'll be spending a lot of time in it. LA has some of the longest commutes in the country.
Washington, D.C.: in this part of the country, take advantage of a 3.8 percent unemployment rate for the metro area. That's a hell of a lot better than the nationwide 9.8 percent (expected to break 10 percent early next year).
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This may not be the ideal time to open a luxury mall but that isn't stopping Puget Sound's first new shopping center to open in several years. The Shops at The Bravern in Bellevue, Washington opens today, September 12. The 305,000-square-foot retail center is home to a Neiman Marcus, Hermes, Jimmy Choo, Louis Vuitton and an Elizabeth Arden Red Door Spa which is offering an opening special the Red Door Warm Welcome Package, a Signature Massage or Signature Facial, Warm Cream Manicure or Shampoo, Blowdry & Finish and Makeup Refresher for $120 ($141 - $161 value). Restaurants include John Howie Steak, Artisanal Brasserie & Winebar and Trophy Cupcakes. The center also offers concierge service.Filed under: Wine

Filed under: Real Estate Developments

Filed under: Estates

Filed under: Art
When art collectors beef, there are no dis' records. Instead, there's just beef. Canadian art collector Jolles Shefner picked up one of Chaim Soutine's paintings from the Le boeuf (Piece of Beef) series for a mere $68,000 in 1981. She went home and hung it in her living room for the next 23 years. Then, she sold it for $1 million. Half a year after that, Soutine's beef wound up in Washington, D.C.'s National Gallery of Art, which paid $2 million for it. Now, all the people in this chain of transactions have beef. When someone makes a great deal, it's usually at the expense of the person on the other side.
Shefner's heirs sued the middlemen from Jolles' sale and the National Art Gallery – essentially for fraud. Though the truth is still struggling to the surface, Soutine experts Maurice Tuchman and Esti Dunow appear to be involved in both the Shefner sale and the later sale to the National Gallery of Art. Shefner's estate seems to have accused Tuchman and Dunow of market manipulation, using their Soutine savvy to maximize their earnings.
In the lawsuit filings, Shefner's heirs claim that Tuchman and Dunow left "at least half a dozen" comparable Soutine sales from the list they provided to the Jolles to support the 2004 valuation and sale. And, these folks are saying the National Gallery of Art didn't investigate the source of the painting sufficiently. Of course, the family wants the painting back.
Tuchman and Dunow deny any impropriety and have indicated that Jolles' daughter received an independent valuation from an auction house that put the value of the painting at $1 million. But, the dynamic duo of Soutine wanted to restore order to the world. So, they agreed to pay $210,000 to the National Art Gallery in a settlement deal so complicated, you'd think it would be intended to end in the death of James Bond. They will authenticate the painting and maintain a provenance listing. The painting itself will go back to the Shefner family. The National Art Gallery will pick up $1,325,000 in cash from the Shefner heirs and a seven-year promisorry note for $650,000. All three payments come to $2,185,000. The museum walks away with a small profit – and it holds onto the painting until the promissory note is paid.
Filed under: Cigars
Maybe, society has had enough. In Spokane, Washington, even non-smokers came to the defense of the cigar community when public golf courses tried to implement a ban. Other places are relying on creativity, such as tobacconist De La Concha's cigar dinners. In New Hampshire, the legislature is getting involved – a bill may legalize the sale of liquor in cigar bars.
In most places, it's tough to find a social setting where you can enjoy a cocktail and a cigar at the same time. The "live free or die" folks are looking to change that. If tobacconists are able to receive liquor licenses, the resulting store traffic could offset much of the damage being done by the financial crisis.
For Two Guys Smoke Shop in Salem, New Hampshire – where I used to go when I lived in northern Massachusetts – sales have fallen since the state banned smoking in restaurants two years ago, with particular effect in the winter. The ability to sell drinks would make the venue more enticing to customers, keep them in seats longer and likely result in an increase in sales.
There aren't many cigar venues left in New England or elsewhere in the country where you can smoke and drink at the same time. In Manhattan, we have a few spots, and Boston has Cigar Masters. Many cities have their hidden gems, but you have to find them. For the cigar smokers of New Hampshire, however, this could change. And, if you believe that Dixville Notch chooses the president every four years, expect to see similar laws pop up in other states.
Celebrity sports real estate falls into a few basic categories. Usually players are either moving because they have been traded to another city or because they have traded up. Seattle Mariners outfielder Ichiro Suzuki is one who has done the latter. The Wall Street Journal's Private Properties reports that he recently built a new, larger home on Washington's Lake Sammamish. His former home, which also has lake views, is now on the market.