Noctave
The piece
Ständchen (Serenade) belongs to Schwanengesang, a group of songs Schubert wrote in 1828, the year of his death, which his publisher then issued under that title; the poem is by Ludwig Rellstab. Liszt transcribed these songs for solo piano in the late 1830s. He keeps the vocal line and the plucked accompaniment, then enriches each verse: the melody moves down into the low register, quasi violoncello, later returns as an echo an octave higher, and leads to a passage marked con agitazione.
The main challenge is hearing two layers at once. The melody moves in triplets while the accompaniment stays in even eighth notes: on 51 beats the two rhythms overlap, and the tune must never lock onto the bass. When the melody drops into the cello register it is surrounded by chords, so bring it out with arm weight rather than a harder touch. The 16 rolled chords and 26 grace notes need to stay within the breath of the phrase. Liszt asks for pedal in every bar: change it cleanly so the harmonies stay clear.