Posted by Leonard Steinberg on April 3rd, 2011 In 1980, the average CEO earned 42 times the average worker, according to the Institute for Policy Studies. In 2009, the multiplier had skyrocketed to 263. Has the disparity in wealth and incomes between the very rich and the working classes become a global hot button issue… [Read More]
LUXURYLETTER – THE DOWNTOWN MARKET REPORT
Posted by Leonard Steinberg on April 1, 2011 First Quarter reports released to-day embarassingly distort the Manhattan real estate market statistics: They talk about a sharp drop in average pricing (like there is such a thing as average in Manhattan) but fail to mention that the reason for this is the low inventory of new construction… [Read More]
BUILDING CONDO/CO-OP BOARD OVERSIGHT?
Posted by Leonard Steinberg on April 1, 2011 No, this is not an April Fool’s joke: All of us in New York have either heard of or experienced first hand the outrageous behavior of a co-op board, and yes, even a CONDO board. This morning the New York Times reports that a bill now before… [Read More]
CANAL STREET: THE NEXT PARK AVENUE?
Posted by Leonard Steinberg on March 31, 2011 Residential real estate sales in Downtown New York soared in the month of March, and as the first quarter of 2011 draws to a close, it is clearly evident that the market has recovered strongly from a year ago, and even from the last quarter of 2010…. [Read More]
LEONA HELMSLEY LIVES! THE NOUVEAU LITTLE PEOPLE PAY TAXES
Posted by Leonard Steinberg on March 30th, 2011 OIl companies scream DRILL BABY DRILL, as it will be good for the USA, create jobs, generate tax revenues, yet Transocean denounces their USA ownership status, moves to Switzerland, and avoids $ 2 billion in taxes. 35% corporate tax rates are amongst the highest in the world,… [Read More]
WOULD YOU RENT YOUR HOME TO CHARLIE SHEEN?
Posted by Leonard Steinberg on March 29, 2011 So train-wreck-du-jour Charlie Sheen is heading to New York for his VIOLENT TORPEDO OF TRUTH tour on April 8th. The New York Post reports that most of the high end hotels in town have removed the welcome matt after Charlie recently trashed his Plaza Hotel room though… [Read More]
MANHATTAN: WIND CITY vs. NUCLEAR CITY
Posted by Leonard Steinberg on March 29, 2011 Living on the river’s edge has exposed me to how much wind New York City experiences: The other day as I turned the corner onto the West Side Highway, I leaned my full body weight into the wind to propel myself forwards. Thats quite a lot of… [Read More]
THE DEMOCRATIZATION OF EVERYTHING, INCLUDING DEVELOPMENT
\ Posted by Leonard Steinberg on March 26, 2011 With the events unfolding in the Middle East indicating a significant shift in the power of the people to alter things around them through their access to communications that are not easily controlled by governments and those in power, I started to think on how here… [Read More]
LUX-CRITIQUE: The proposed addition to Chelsea Market
Posted by Leonard Steinberg on March 26, 2011 This is our first critique of a building…..Last week Jamestown Properties made a presentation to Community Board 4 showcasing the proposed addition to the rooftop of Chelsea Market which involved an additional 90,000sf for a boutique hotel and about 250,000sf for office space. While I think it is… [Read More]
OVERHEARD IN THE MARKET…THE BILLIONAIRE BUYER IS BACK!
Posted by Leonard Steinberg on March 23, 2011 Overheard tonight at a little gathering in a swell penthouse overlooking all of Manhattan, amidst dramatic lightening and ice/hail….A 3-unit combination apartment st THE PLAZA has gone to contract for around $ 48million….and a rather swell pad at TIME WARNER has gone to contract for around $… [Read More]