"Clear" Credit Card at the Airport...Shoeless but Stressless

Summer somnolence has prevented me from doing a more timely blog. I think my keyboard slows measurably when the outdoor temperature hits 85 degrees or more. My desk has views of Central Park, so the call of the wild does tempt me to take afternoon breaks as well. Thank you for your understanding, and I hope you have had similar seasonal distractions.

The long absence of an update compels me to write now about a very interesting subject, even though I know no one is reading this today. All are planning for the weekend getaway for Labor Day. That leaves us stay-at-home New Yorkers in an enviable position. No rush to the airport, with anticipated delays cutting into the precious holiday by at least an hour or more. Two thousand flights a day from LaGuardia Airport. Amazing. Two runways, total, at LaGuardia for all incoming and outgoing traffic. Even more amazing.

There is hope, however, for all of us seasoned travellers who do this for a living. If you haven't heard of "Clear" the card that allows you to whisk through a private security line at a growing number of airports...listen up.

Some enterprising company has created a system that scans your iris and takes multiple finger impressions on a scanner and then puts this information into a computer chip. Kind of James Bond meets Homeland Security, with panache. You are issued a sexy, clear plastic credit card with your unique information, that is not transferred to the CIA or the FBI. I am confident that Dick Cheney does not know a thing about my iris. At least, I don't think so.

There are currently 59,000 members of Clear. I am, happily, one of them. I do admit to having to resist my fear of government intervention into my private life before sharing information with Clear in return for this privilege. But, the government knows all there is to know anyway, except the questions asked for in pre-screening and phone security on Clear. What is my favorite movie? "Portrait of Jenny." What is my favorite activity? Yoga. I don't think the government would be assisted in finding Osama bin Laden, even if I told them my intimate answers over lunch. So, the process is swift, futuristic and, I admit, fun. Try it. We need to have as many sophisticated travelers sign up so it will be accepted at all U.S. airports, whose number is steadily growing. Check out http://www.flyclear.com/

Have a great holiday weekend, and I'll be in touch next week with updates on Sanctuary Cap Cana in the Dominican Republic and the latest following my recent trip to Bermuda...

Manhattan Parking and the Art of Investing

I read the other day that the median price for an apartment in Manhattan in the first quarter of 2007 was $835,000. This is four times the national median home price of $214,000. This information comes from the National Association of Realtors, whose NYC members themselves make astronomical commissions on co-ops and condos sold to those guys downtown working on futures. Theirs, not mine.

This made me wonder why there seems to be no end to the uptick in the prices of housing here in New York City. If the New York Stock Exchange were in, say, Las Vegas would we still have to pay over a $1 million for a tiny one bedroom apartment on the East Side? Come to think of it, Wall Street and Las Vegas have an awful lot in common. Legalized gambling from the floor just needs some showgirls to ring the closing bell. Might give a more proletarian feel to investing.

And what if Manhattan weren't an island? What if it stretched out in endless monotony like Vegas beyond the Sodom and Gomorrah neon light part? I mean, isn't part of this over-inflated pricing due to the fact that there are only so many streets to hold so many apartments to hold so many hedge fund guys?

As you know, Peter Minuit bought the island of Manhattan from the Canarsie Indians for $24 worth of trinkets. Yes, that is the story...allegedly, the Canarsie Indians resided on Long Island, and just traded in Manhattan. Kind of like the Westchester crowd today. Brooklynites choose to believe they they were from Canarsie--a pure myth--so it was the Long Island Indians who put one over on the Dutch white man. The Indians were probably thinking that those beads and silver trinkets, and maybe a hatchet or two were a much better deal than having to fix pot holes and get Co-op board approvals. So, with a collective sigh of relief on the part of the original native Manhattanites, the first real estate deal was done. Peter Minuit slyly exchanged his cache, believing he had put one over on those poorly clothed guys. And so began the incredible inflation that brought us to the ultimate silliness that was announced today.

Are you ready for this? There is a waiting list of seven or eight people who want to pay $225,000 for one of five private parking spaces on West 17th Street in the BASEMENT, no less, of a condo development that isn't even scheduled to open until January 2008! Pardon me, but that price should come with a view for your Honda Civic of the Hudson or the East River and maybe a southern exposure on a high floor! The part that has me bowled over is that the people buying these parking spaces don't even own cars! They're buying them as "investments" to be rented out to cover their costs and perhaps some day to be traded down on Wall Street. Or sold to put all the profits on black in Vegas.

So, what does this mean to me, a New Yorker? I am going to turn in my MetroCard immediately, find me a good financial advisor who specializes in Parking, and pull my money out of those stagnating Mutual Funds. The future of investments is clear for me, even if Peter Minuit's was a bit cloudy.

A Hidden Find on the Massachusetts Coast

Rockport, Massachusetts is where people go who aren't going to the "other" Cape. Like an ingenue waiting to be discovered, Rockport remains picturesque, yet incredibly homey, and virtually unknown to those outside Massachusetts. It has been one of my favorites since I was a child. It has nearby towns that sound almost fictional, like "Pigeon Cove" where my grandparents lived, and where the Emerson Inn By the Sea overlooks the rough rocky shore. Ralph Waldo Emerson stayed there and described how it was where he "made acquaintance with the sea for seven days."

But Rockport is the centerpiece and has always been a magnet for artists and musicians, and so draws an eclectic beach crowd. The Chamber Music Orchestra will have a new waterfront space in the old Madras Shop down from Tuck's, where the salt water taffy is still doled out under a tin-ceilinged roof. They do have the best home-made ice cream you could imagine. Or maybe the salt air makes it taste of summer and youth. It doesn't matter.

For those of you who don't know this town, you need to visit. It is best known for Motif #1, the most celebrated subject for artists to paint, which is compelling in its simplicity. The red wood shack is situated on Bearskin Neck, which is the home of tiny shops that have managed to combine tourism with taste. The fishermen who originally colonized this wee town did fight off bears at one point in the late 1600's. But tourists don't have to worry about that now.

Near the center of the town is a terrific place to stay...Beech Tree Bed & Breakfast. There are three guest rooms and Judy and Russ Liddle are the hosts who have brought a high level of excellence to the concept of pleasing their guests. Fresh flowers from their wildflower garden are placed by your heavenly bed. Down pillows are in superabundance. The color of my room was a deep colonial burgundy, with soft muted tones contrasting the elegant antique furniture. And then there is the rainforest shower...The accommodations rival any I have been in recently that are five star, especially as a Bed & Breakfast.

The common areas are cozy with comfortable places to read in abundant corners. During my stay, there was a lovely fireplace in the seafoam green living room that took the chill off an unusually chilly June evening. The porch looks out at the huge 100 year old beech tree from which the inn derives its name. And it is the garden that is the focal point of the summer morning, with abundant irises and cat mint in lavender contrast to the greenery everywhere.

Breakfast is unforgettable. Judy changes her menu daily and offered scrambled eggs with goat cheese folded into the perfectly textured eggs. Accompanying this was a Swedish pancake, home made granola and lots of fresh fruit. Coffee was perfect, of course. This memorable offering was included in the very reasonably priced room rate.
Call them for a quick getaway...www.beachtreebb.com

Champions Tour will hold $2 million event in Dominican Republic

The PGA TOUR's Champions Tour and Cap Cana announced that the Jack Nicklaus Signature Course at Punta Espada Golf Club in Cap Cana, Dominican Republic will be the site of a new Champions Tour event next spring.

The agreement was signed on May 25, 2007 by Cap Cana's Board of Directors President, Dr. Ricardo Hazoury and Champions Tour Senior Vice President Mike Stevens in the presence of Jack Nicklaus at Nicklaus Design headquarters in North Palm Beach, Fla.

The Cap Cana tournament will be played March 31-April 6, 2008.

The 54-hole stroke-play tournament will feature a 78-player field and official prize money of $2 million, with the winner collecting $300,000. GOLF CHANNEL will broadcast all three rounds in the United States and coverage of the event will be distributed internationally.

"The Cap Cana will be a prestigious addition to our 2008 schedule," said Champions Tour President Rick George. "The pristine setting combined with the Jack Nicklaus design of the Punta Espada Golf Club and resources and amenities of the Cap Cana Resort will immediately establish The Cap Cana as a premier event on the Champions Tour."

Punta Espada Golf Club, the first of three Jack Nicklaus Signature Golf Courses slated to open in Cap Cana, is operated by Troon Golf and opened for play in November 2006. The par-72 course incorporates the surrounding natural beauty of Cap Cana, stretching along a coastline where golfers on each hole look out into the blue expanse of the Caribbean Sea.

"We are very proud to be selected for the PGA TOUR's Champions Tour in 2008," said Dr. Ricardo Hazoury, President of Cap Cana's Board of Directors. "The design of our course at Punta Espada incorporates the natural characteristics of this unique environment of Cap Cana and has been well conceived for this level of play. As a golf destination, we are committed to a successful event. We will continue as a country to position ourselves in the world as a special place to enjoy the sport of golf and to celebrate this kind of professional tournament,"

"We are excited to be a new addition to the Champions Tour in 2008," said Sam Logan, Manager of Operations from Troon Golf assigned to the Punta Espada Golf Club. "Cap Cana has become well-known for excellent conditions and spectacular views, which make it an ideal location for touring professionals and spectators alike. It is a compliment to Cap Cana, Nicklaus Design and Troon Golf that just a few months after opening, Punta Espada debuted at No. 77 in Golf Digest's ranking of the 100 Best Courses Outside the U.S."

The complete 2008 Champions Tour schedule will be announced on June 25 at the annual Champions Tour National Media Conference following the Bank of America Championship in Boston, MA.

Eloise, the Penthouse and The Billionaire

I had a call this weekend from a multi-billionaire, one of Forbes richest men in the world, who was referred to me by a mutual friend and business acquaintance. Since I have a combination of hotel sales, a New York State Real Estate Salesperson's License, and my husband was once the Director of Sales and Marketing at The Plaza, I felt equal to the challenge of offering assistance.

The gentleman in question was in New York on business from Australia and happened by the Plaza Condominium development, formerly the Plaza Hotel, sad shell that it is now. His wife thought it would be nice to have an apartment near their friends who own a penthouse in the Sherry Netherlands across the street. Just in case they wanted to borrow a cup of sugar, I suppose.

This Australian gentleman is trying to decide between an apartment that is being offered at $6.5 million and one for $14.5 million. The difference is the bedrooms and library of the former are not facing the expensive forest of Central Park South. He is the most down to earth billionaire I have ever spoken with, though I admit not many call my 800 number on a regular basis. He said that, fortunately, he could afford the more expensive apartment. He just didn't want to feel foolish by overpaying at $6000 a square foot for his pied a terre. He will only be here a couple of weeks a year, after all. So, what did I think?

I assured him that there is no negotiation on prices at the Plaza condominium hotel. I also told him there are plenty of people from Dubai who are buying up those apartments on spec, since oil money is plentiful and the dollar is a real bargain. In any case, I assured him that the treeless views from the bedrooms in the back of the Plaza would allow quiet sleep, not assured from Central Park South. (I know this because our more humble apartment and office is, indeed, on the 16th floor overlooking Central Park South and all our rooms have views. Even our bathroom has a window, which our male guests do feel self-conscious about when using this spectacular windowed facility). But that is a whole other blog called "Ego."

So, when is enough, enough? When a triplex penthouse at the former Plaza Hotel sold this week for $56 million, you might think that would put a cap on New York City's euphoric rise in real estate mania. But trust me, this is just the beginning.

A year ago, would anyone have believed your "Home Sweet Home" could go for $6,100 a square foot? Are the trees in Central Park more stately, greener or more valuable because they are occupying space where high rises should be, and so command such an exorbitant price for respectfully gazing upon them?

The triplex is the line drawn in the sand. Or in this case, in the park dirt. Nothing is too expensive. Not even the penthouse that is now listed at the Pierre with sixteen rooms and at a pricetag of $70 million. The Australian gentleman is evaluating both Plaza apartments, though his wife is adamant about having her bed overlooking all that park greenery. They are flying back today to Melbourne on their private plane. I am waiting to hear what their decision will be, but just out of curiosity, since I wasn't the broker, alas. Personally, I think they would be much better off in a regular New York building, with more hedge fund people and fewer oil wells.

On the other hand, I am also left with a vague feeling that either a)I am not working hard enough, or else I could move down the block and swan about with all that oil-moneyed crowd and perhaps the one really nice billionaire Australian couple who speak English, or b)that our own apartment/office here at 240 Central Park South is one nifty place to live and work at a fraction of the cost of the foreign frenzy. And my husband, Terry Rufer, and I are native New Yorkers. That counts for something, even if we are from the Bronx and Staten Island respectively.

Either way, I wonder about Eloise, the former literary symbol of the days of the classic Plaza Hotel. The little girl was known to dart mischievously around the hotel halls in her reckless and charming youth. I wonder what Eloise would think of all this real estate frenzy. But mostly I wonder if she had a back bedroom...

Tucker's Point Hotel & Spa - Opening July 2008

I am thrilled to share with you an update on Tucker's Point Hotel & Spa, which is coming to Bermuda as a long awaited breath of fresh air for this pastel perfect island. Estimated opening date is July 18, 2008.

Happily, I will be involved in assisting Tucker's Point with bringing them Board of Directors' meetings, corporate retreats, think-tanks and discerning incentive groups looking for an exquisite new upscale boutique resort. So this is where you come in with your group...the hotel will have 88 rooms, with a minimum of 520 square feet (50% of the 20 suites--ranging from 1,200 to 1,650 square feet--have fireplaces). All rooms have a large balcony; all have water views.

The 18 hole championship golf course is open and has now surpassed Mid Ocean for its impressive play, according to all my informed sources in Bermuda who have played both courses. A spa? Of course! Meeting space? Very definitely. Isn't that refreshing? They actually want your group business! Get the picture?...This is a resort for those groups that do not belong in a big group hotel, or who are looking for a boutique hotel which can pamper one group at a time and where you don't have to compromise your needs. Space will be limited, however, by the sheer demand for this property. We are already seeing that happen.

If you are thinking ahead, terrific! If you are looking for anytime after the summer opening 2008, then please give me a call at (800)255-GAIL (4245) or send me an answer on this blog, or e-mail me at gail@gailflannigan.com, if you have not already checked with Ann Walker for availability.

In any case, give me a call...send me an e-mail...and I'll send you the fact sheet. Very simple, and very wise, indeed. More to come on Tucker's Point in a future blog. I just wanted you to know for now that Bermuda is not your father and mother's honeymoon destination anymore...there are exciting things happening all over the island. This is just going to be a stunning new hotel that I wanted to share with you.

All the best,
Gail