Add Some Dramatic Furniture Into Your Home
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Add Some Dramatic Furniture Into Your Home

New York design studio Apparatus debuts an imaginative collection.

By SARAH MEDFORD
Fri, Oct 1, 2021 4:36pmGrey Clock 2 min

Even as a startup, the Manhattan-based design studio Apparatus cultivated a very specific mood in its Chelsea gallery. Flowers, incense, a meandering circuit of rooms that wove in and out of dimly lit factory spaces, a killer sound system: They cued a certain sensuality and shopping-as–cocktail party atmosphere, stoking a desire for the company’s adventurous collections of furniture, lighting and objects.

The enforced solitude of the past 18 months pressed pause on the party—though not on sales, which have boomed. During that time, Apparatus has delved deeper into its creative sourcebook to design its biggest collection to date, nearly a decade after the studio first opened. Gabriel Hendifar, artistic director and co-founder, calls the 40-piece offering Act IV. Launching in October, it lives up to its theatrical billing in ways that past Apparatus collections only hinted at.

Hendifar’s visual interests have always been sweeping, from Wiener Werkstätte textiles to Persian marquetry. For Act IV, he drew on the optimism of mid-century modernism and the ethereal, attenuated lines of Near Eastern craft. Among the standout pieces are chairs with skinny upholstered backs; globe lights suspended in suede harnesses, like trapeze artists; and geometric carpets with brass “seams.”

Though Hendifar hadn’t tried his hand at designing seating or carpets before, he pushed himself to take on both. “Making anything, I think, tells you about making everything else,” says the L.A.-born Hendifar, 40, a former fashion designer. “Ultimately it’s about, What does this thing make me feel? I mean, both literally, How does it feel? And then, What does it make you feel emotionally? For me, those are the two guiding questions.”

A few months ago, Apparatus rented a Brooklyn soundstage and mounted a full-blown performance of Act IV, the collection. Films and images were produced to live online, with costumes courtesy of American couturier Ralph Rucci, a supporting cast of pieces from Naga Antiques and a star turn by model Debra Shaw. Participating in spirit, though not in person, was Apparatus co-founder Jeremy Anderson, who has left the day-to-day business to focus full time on his ceramic practice.

Like the rest of Apparatus’s offerings, Act IV is being produced globally and finished in its New York studio, which expanded this past summer to a 45,000-square-foot site in Red Hook, Brooklyn. And in the Chelsea gallery, a refresh is underway—one that might someday soon give Act IV a proper opening night. All Apparatus Act IV items: prices upon request, apparatusstudio.com.

 

Reprinted by permission of WSJ. Magazine. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: September 29, 2021



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Expert tips for prospective buyers looking to purchase a home in 2024.

By Josh Bozin
Fri, Apr 12, 2024 3 min

For aspiring homeowners, be it a first-time buyer, downsizer, or investor, picturing your idea of homeownership bliss is the easy part. But before deliberating on furniture choices or scouting for that perfect neighbourhood coffee, understanding your purchasing power stands out as the most important step in ensuring your success in homeownership.

And with the Australian property market gaining momentum in 2024, there’s never been a better time to come to grips with your financial options.

In 2023, amid the changing financial landscape that saw rising interest rates and the cost of living skyrocket, among other factors, the total amount borrowed for property purchases across Australia was estimated at $300.9 billion, a 12.7 percent decrease from the previous year, according to PEXA’s latest Mortgage Insights Report.

Each mainland state also experienced a decline in new lending, according to the report, with Victoria and New South Wales seeing the biggest drops to $84.1 billion and $109.5 billion, respectively.

While this trend reflects the repercussions of such financial hardships on the everyday Australian, John Morello, director and auctioneer at Jellis Craig, said we’re seeing renewed confidence in the property market during the first quarter of 2024, particularly in Melbourne.

“Auction clearance rates have started the year strongly and consumer sentiment is rising. This lift is driven by cooling inflation and an improved outlook on interest rates. At Jellis Craig, as with the rest of the market, we are experiencing an increase in volume of property compared to the same period in March last year (up 28% in 2024),” Mr Morello said.

“Melbourne’s property market, in particular, is showing its ongoing evolution and resilience.”

PEXA’s report revealed that, while borrowing saw a decrease in 2023 in Australia, Australians still invested $613.0 billion in property purchases in 2023. In 2024, purchasing confidence is only going up, as prospective first home buyers, seasoned downsizers, and savvy investors look to capitalise on a flood of new property hitting the market, coupled with the lowering of interest rates across the board.

“With more certainty in the economic outlook, along with an increase in volume of property available, we are seeing these factors translate to early signs of a boost in confidence in both buyers and sellers,” said Mr Morello.

“Further encouraging data shows that whilst there is more property available to purchase, more people are inspecting property, again indicating that demand has increased broadly across our marketplace.”

If you’re in the market for a new property, the biggest question you must ask yourself is how much house can I afford?

A great starting place is to speak with your mortgage broker or financial professional, who can guide you on your lending options. This is critical, as you need to know what your future repayment options might look like, and ultimately, what you will typically be able to afford.

A useful tool for judging whether you can afford a specific property is to factor in the 28/36 rule — a rough guide that suggests you should not spend more than 28 percent of your gross monthly income on housing, and no more than 36 percent on all debts. Another useful tool is the idea of a debt-to-income ratio (DTI); a formula whereby an individual can divide all of their monthly debt payments by gross monthly income to arrive at a number that one can measure as a way of managing monthly mortgage payments.

Mr Morello emphasised the need to understand affordability and what’s feasible for each individual when looking to make a purchase, no matter the budget, on a property in 2024.

“It’s pivotal to work out what you can afford. Get your finances in order. Consider all associated costs with buying, and research what concessions and grants are available,” said Mr Morello.

“It’s easy for individuals to begin the process today. Start actively searching potential properties on a weekly basis, and research areas you are interested in. Check weekly sales results, attend inspections and auctions, to get a feel for the process. Just remember, it’s important to be really comfortable in understanding your living expenses, and what the ongoing expenses will be once you have bought a property.

“For example, mortgage repayments, council rates, water, power, owners corp fees, insurances, maintenance costs; if you are buying as an investment, the Land Tax payable on that property which is an ongoing tax. There’s many factors to consider.”

To see what’s possible for your specific circumstances, visit our Finance Portal for specific tools, guides and tips—as well as our own mortgage calculator—to assist you on your property journey.

 

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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