Posted by Leonard Steinberg on September 24th, 2013 Several listings have come to the New York real estate market above $35 million in the past few days, and several more are out there, although not officially listed. There are around 50 apartments for sale in the $35m+ range right now: Just how many buyers exist… [Read More]
NEW YORK 5 YEARS LATER: DID YOU KNOW?
Posted on September 19th, 2013 by Leonard Steinberg With this week marking the 5th anniversary of the collapse of Lehman and the peak of the Global Financial Meltdown, I learned a few NEW YORK CITY FACTOIDS today that I thought were rather exceptional: Since the depths of the Great Recession, the USA has recouped 65%… [Read More]
SHVO TAKES TO THE STREETS – IS BILLION DOLLAR LISTING NEXT?
Posted by Leonard Steinberg on September 18th, 2013 Michael Shvo was spotted tonight at the LUKOIL/GETTY site on Tenth Avenue and West 24th Street (West Chelsea’s most storied block) armed with 2 security guards (is someone after Michael?) chatting up passers by observing the art installation featuring fences (Shvences?), sheep (Shveep?) and a lawn (shvlawn?)that… [Read More]
FIVE YEARS LATER…..
Posted by Leonard Steinberg on September 18th, 2013 This week, five years ago, the global financial crisis reached a fever pitch with the collapse of Lehman Brothers. Today the U.S. Federal Reserve is expected to begin its long retreat from ultra-easy monetary policy by announcing a small reduction in its bond buying, while stressing that interest… [Read More]
DISGRACEFUL WAIT TIMES AT JFK CUSTOMS
Posted by Leonard Steinberg on September 17th, 2013 Read this NY DAILY NEWS article covering the often disgraceful welcome to our city at JFK customs: surely visitors (and tax-paying New York City residents)are entitled to better service in a first world country, not to mention a world center? Surely for the amount of taxes we pay… [Read More]
IS JANET YELLEN THE FED CHAIRMAN CANDIDATE OF CONTINUITY?
Posted by Leonard Steinberg on December 15th, 2013 Is the important question of who the next Fed chief will be on the ‘unknowns’ checklist item about to be answered? It appears so: Stock index futures soared this morning as investors bet that Larry Summers withdrawal as a candidate for the chairman of the Federal Reserve could mean… [Read More]
WEST CHELSEA TO BE ELEVATED BY FOUR FEET
Posted by Leonard Steinberg on September 14th, 2013 As we approach the anniversary of the catastrophic storm Hurricane Sandy, the DOB has passed a new building and zoning code for buildings exposed to the flood zone……the code requires a building in West Chelsea to be elevated by four feet above street level. Already developers, architects… [Read More]
WILL 140 WEST STREET BE WALKER TOWER SOUTH?
Posted by Leonard Steinberg on September 12th, 2013 Ben Shaoul of Magnum Real Estate has purchased the upper floors of the magnificent Verizon building located at 140 West Street, a building very similar to the Verizon building that became Walker Tower. This superb Art Deco landmark sits alongside the Freedom Tower, nestled between Tribeca and… [Read More]
REFLECTING ON 9/11 A DOZEN YEARS LATER
Posted by Leonard Steinberg on September 11th, 2013 Its a dozen years since the horrific attacks of 9/11: since then New York and our world has changed forever, so here are some observations of the effects of 9/11 from a real estate (and human)perspective: 1) SECURITY remains an on-going, daily concern. We are reminded… [Read More]
FASHION WEEK AND NEW YORK CITY REAL ESTATE
Posted by Leonard Steinberg on September 10th, 2013 FASHION WEEK in New York City is a reminder of how important this industry is to the welfare of our city. These fashion shows alone bring in hundreds of millions of dollars in production, venue rental, equipment rental, media, tech, travel and hotel revenue. While the fashion… [Read More]