Posted by Leonard Steinberg on May 26th, 2011 I just went over the stats analysis and noticed an interesting factoid: The vast majority of studios that have traded in Manhattan in the past months are co-ops not condos, which leads me to believe developers are avoiding building them. I don’t think the day of the studio… [Read More]
EVERYONE IS EXHAUSTED, STRESSED OUT: TIME FOR MORE HELP?
Posted by Leonard Steinberg on May 19, 2011 The real estate market in Manhattan is absolutely exhausted…..brokers, buyers, sellers, mortgage brokers, managing agents, you name it. During the recession, while everything moved at a slower pace, the industry became accustomed to a longer, more protracted marketing and searching process and then slower negotiation. Now the… [Read More]
POINTING FINGERS, DOUBLE STANDARDS: Hmmmmm……
Posted by Leonard Steinberg on May 14, 2011 Everyone seems to be pointing fingers these days with horrible double standards…..here are some examples: 1) Pakistan is OUTRAGED that the USA ‘invaded’ their land to kill the world’s worst terrorist and the government now demands that these outrageous breaches of their borders end immediately…. even though… [Read More]
APPRAISAL BANKING RULES NEED MODIFICATION
Posted by Leonard Steinberg on May 12, 2011 New banking laws prevent a buyer from having an appraisal ordered prior to a fully executed contract: I think this is just stupid. Here is what I propose and why: With many Sellers reluctant to provide financing contingencies, and certainly appraisal contingencies, the ability to have an… [Read More]
CHELSEA MARKET ADDITION GOSSIP
Posted by Leonard Steinberg on May 11, 2011 We have heard a rumor through the grapevine that Jamestown, who is seeking funding for the rather grotesque, monstrously scaled Chelsea Market Addition, may not be doing exactly as they say…. as part of the due diligence the lender supposedly asked if Jamestown planned to actually build this addition or just… [Read More]
DEAR SELLERS: PLEASE TAKE A LOOK AT THOSE PHOTOS…..
Posted by Leonard Steinberg on May 10, 2011 I received an e-mail to-day from a broker at NESTSEEKERS showcasing a very attractive property in a strong location that was quite well priced…..the only problem is the photos would give even the most astute eye a hard time identifying that this is indeed a good apartment…. [Read More]
CO-OPS: NEW TIMES, NEW RULES
Posted by Leonard Steinberg on May 8, 2011 We live in new times, which requires adjusting. All of us are doing it. Some Democrats are talking about deficits, some Republicans are talking about energy savings and green energy. Condominiums are talking about reserve funds and closer scrutiny of buyers. Yet many co-ops appear to be stuck in… [Read More]
THE NEW NEW YORK CAB IS UNVEILED!
The new New York can is unveiled.
IS A OSAMA BIN LADEN YOUR NEIGHBOR?
Osama Bin Laden killed
SULLIVAN STREET BAKERY COMES TO WEST CHELSEA
Posted by Leonard Steinberg on April 26, 2011 It appears Sullivan Street Bakery is coming to West Chelsea….a sign popped up recently just a few doors down from their restaurant venture COMPANY on Ninth Avenue between 24th and 25th Streets. This bakery, known for its exceptional baked products especially its breads and pizza’s will be… [Read More]