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Is First Avenue ready for a velvet rope or $17 cocktail? Perhaps, if the drink is a Triboulet (Veuve Clicquot, peach liqueur, fresh strawberries). The bar has all the accoutrements expected of a place that sells cognac for $37 a glass: low lighting, a sexy leather chaise lounge and a collection of velour couches. Downstairs, Arshile plans to offer complimentary massages, given on a red corner sofa behind a curtain, along with your $300 bottle of champagne.

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