Why a Studio Apartment Should Be at the Top of Your Holiday Shopping List



A studio apartment at the Plaza.Want to splurge on a little something for yourself this holiday season? If you’re craving the gift of less space, why not put a studio apartment at the top of your list? In the second quarter of 2015, this small wonder made up 16.5 percent of the co-op market, with an average price of $380,000, and 6.7 percent of the condo market, with an average price of $652,000. But some studios sell for a lot more, particularly when they come with jingly bells and whistles. Consider the alcove studio on the market at 322 West 57th Street: It’s asking $1.09 million, at least some of which must be allocated to its killer city views. Or the $1.175 million studio at 465 Park Avenue, which has a 17-by-19-foot terrace that’s 68 square feet bigger than the apartment’s living space. And a 695-square-foot studio at the Plaza, where the average sales price is $8.6 million, is on the market for $2.137 million. But hey, it’s the Plaza. “It’s absolutely a question of status,” Douglas Elliman agent Lisa Simonsen says about buyers who purchase teeny apartments in top-tier buildings. “For many, it’s better to have a smaller slice of something extremely fabulous rather than a larger place with no cachet. Wouldn’t you settle for business class if you couldn’t afford a private jet?”

A version of this article appeared in the Holiday 2015 issue of New York Cottages & Gardens with the headline: Stocking Stuffers.

 

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Property of Note: 76 Windmill Lane

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76 Windmill Lane, Bridgehampton
On 2+/- acres, landscaped for complete privacy, this complex consists of three interconnected enameled clad steel barns custom designed by Jack Ceglic, with radiant heat concrete floors, maintenance free exteriors and grand, open spaces. The 4,600+/- sq. ft. main house offers custom kitchen, master and guest suites, library and half bath. All rooms open to large mahogany terrace. The guest house/studio has 2 bedrooms, 2 baths, and separate study. Heated gunite lap pool.



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5 Green Pond Road, New Milford, CT
Litchfield County's fabled Candlelight Farms Airport. This is a rare opportunity to own one of CT's few grass strip airports. Moments from Candlewood Lake and all that Litchfield County offers. Bucolic 35 acre setting with 2,900 ft. turf runway. The collector-quality hangar boasts a steel framed, 6,000 sq ft structure with automatic doors. Spacious enough to store up to 10 Piper Cub size planes. Perfect for a private user, a collective of enthusiasts or a commercial investment.



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64 Birchwood Lane, Bridgehampton
6,100 SF Barn-style home conveniently located between Bridgehampton and Sag Harbor. With six bedrooms, six full baths and two half baths, this home will entertain family and friends all year round with two fireplaces, one of which is in the spacious master suite. Enter into a Grand entry foyer, 10’–11’ ceilings throughout main level and into a designer kitchen. Relax outside with beautiful landscaping and a heated gunite pool. Integrated concierge through Chaloners for an effortless Bridgehampton lifestyle.

Barn and Vine

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20 Hook Pond Lane, East Hampton
On a private lane in the Hook Pond estate area is a new home designed by Abstract Builders. The 10,000 SF home (on 3 levels) is perfectly sited on a 1.6 acre lot to take full advantage of the pond and ocean views. Dramatic open kitchen, dining and living space opens to the outside; includes 7 ensuite bedrooms, plus light-filled lower level with billiards, viewing room, wine cellar and sauna. Outside, landscaped grounds surround a gunite pool, spa and pool house.



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57 Miller Lane East, East Hampton
Charming East Hampton cottage renovated in 2013 was transformed into a 2,500+/- sq. ft. dream home. On the first level are two bedrooms, a bath, open living areas, and a sunroom. The bluestone sun porch overlooks a beautiful pool and pool house with garden. Upstairs master suite features a bath with marble herringbone floor with nickel Samuel Heath shower fixtures. Custom window treatments, Phillip Jeffries wallpaper throughout and Sonos inside and outside.



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11 Musket Ridge Road, Wilton CT
Perched at the top of a roaring Silvermine River waterfall on almost 4 acres, the property spreads out into Wilton and New Canaan. Every inch of this home has been perfected to capture the timeless appeal of the river while exuding ultimate refinement and good taste. The architect-designed home captures river views and sounds, and almost every room opens to one of the magnificent decks or to a private balcony. Call Ileana Barns Slavin Associates-William Raveis at (203) 246-7215.

11 Musket Ridge Road

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