Posted by Leonard Steinberg on February 1st, 2013 A Water main has burst at the intersection of Fifth Avenue and Broadway in front of EATALY and Madison Square Park. There is no N, R, or Q subway service at this time between Whitehall Street station and 57th Street station, at Seventh Avenue. The 36 inch… [Read More]
NEW YORK MAGNOLIA-BAKERY-STYLE OPEN HOUSE MASSES
Posted by Leonard Steinberg on January 28th, 2013 Have you ever seen the droves of people lined up to buy one of those horrifically sugary cupcakes at Magnolia Bakery? Well, a similar phenomena is happening in Manhattan at open houses where the volume of buyers is truly remarkable at all price points. Over 70 buyers… [Read More]
CAN GOVERNMENT LEARN FROM THE US CONSUMER ABOUT DEBT REDUCTION?
Posted by Leonard Steinberg on January 26th, 2013 The question keeps getting asked: why is the New York real estate market so incredibly strong this month (and the past few months too)? Yes, mortgage rates are very low, the wealthy are doing well and have more confidence, the election circus is behind us, the optimism… [Read More]
DAVOS REVEALS 2012 WAS A GREAT YEAR FOR BILLIONAIRES: BUT A HOMELESS BILLIONAIRE?
Posted by Leonard Steinberg on January 23rd, 2013 While about 75 of the world’s billionaires begin to approach DAVOS for the annual conference of the super-rich, we are reminded of how well billionaires fared in 2012, regardless of all the political naysayers who claimed the future of the rich and all things good economically were… [Read More]
AFFORDABLE MICRO-APARTMENTS BECOMING REALITY?
Posted by Leonard Steinberg on January 22nd, 2013 As New York real estate becomes less and less affordable for most, the City is announcing today the winner of its “micro-apartment” contest, which challenged architects to create affordable homes for single New Yorkers — some as small as 250 square feet. The Museum of the City of… [Read More]
WHAT IS MIDDLE CLASS IN MAHATTAN?
Posted by Leonard Steinberg on January 20th, 2013 The New York Times did an interesting piece this weekend trying to answer the question: What is MIDDLE CLASS in Manhattan? The answer remains muddied. In a city where the cost of housing overwhelms all other costs, where you live and how much you are paying for… [Read More]
TIME FOR CONSUMER ELECTRONICS THAT ACTUALLY WORK FOR CONSUMERS?
Posted by Leonard Steinberg on January 19th, 2013 This week the discussion arose again about electronics for AV systems and ‘smart homes’ at one of my meetings with a developer client developing a gorgeous luxury building in New York. What exactly does the consumer want delivered to-day in a brand new Manhattan luxury apartment in the way… [Read More]
THE $ 51 BILLION STORM: SANDY RELIEF, OR SANDY BAND-AID?
Posted by Leonard Steinberg on January 16th, 2013 A measure providing $51 billion for relief and recovery from Hurricane Sandy was approved by a bipartisan majority in the House last night, three weeks after Northeast Republicans excoriated the chamber’s GOP leaders for failing to vote on storm aid before the end of the last Congress. A… [Read More]
IT’S OFFICIAL: ITS A SELLER’S MARKET!
Posted by Leonard Steinberg on January 14th, 2013 It’s official: the luxury real estate market in New York has turned and it is now officially a SELLER’S MARKET. After attending and holding several open houses yesterday, with activity levels not seen in years, there is no doubt in my mind that there are far more… [Read More]
NEW YORK NEW DEVELOPMENT: THE NEXT CHAPTER
Posted by Leonard Steinberg on January 12th, 2013 In the coming weeks and months, over 7,000 units of new construction LUXURY apartments will be coming to the market in New York……that is a VAST number of units and will significantly alter the bland inventory landscape we are currently experiencing. While one could argue that the… [Read More]