Posted by Leonard Steinberg on March 20, 2011 For years I said the upscale Manhattan crowd would never travel ALL THE WAY to Brooklyn to live in what are arguably neighborhoods as refined and desirable as the West Village, Tribeca and the Upper East Side: I was wrong. About 3 years ago, a friend of… [Read More]
ALL ABOUT OIL….
Posted by Leonard Steinberg on March 19, 2011 As we witness fighter jets over Libya, again we are asked why are we so horribly dependent on foreign oil? What forces exist that bind us to this commodity that allows monster-thugs like Gaddafi to affect the welfare of the entire globe? Lets face it, if Gaddafi… [Read More]
HOME OWNERSHIP STILL HIGHLY DESIRABLE
Posted by Leonard Steinberg on March 19, 2011 A new survey reveals that 70 percent of Americans would advise friends and family to buy a house, Thomas Wilson, CEO and chairman of the insurance company Allstate Corporation, told CNBC Friday. “The underlying demand for houses has not changed, despite the fact that consumers are more conservative… [Read More]
2007 RETURNS?
Posted by Leonard Steinberg on March 18, 2011 The number of millionaires is almost at the level of those in 2007 reports the Wall Street Journal to-day. Bidding wars are back. There is a shortage of un-affordable housing. Kelly bags are wait listed at Hermes. Manhattan luxury pricing is breaking some records on even some… [Read More]
SOME LESSONS FROM JAPAN
Posted by Leonard Steinberg on March 16, 2011. In the wake of the horrible tragedy unfolding in Japan, there are lessons that can be learned, although nothing can really fully prepare you for the a natural disaster as mammoth as this one. Here are some thoughts: 1) How amazing is the resilience and tone… [Read More]
WORLD REAL ESTATE MOOD IMPROVES – GATEWAY LOCATIONS LEAD
Posted by Leonard Steinberg on March 13, 2011 From Sao Paolo to Chongqing, by way of Kigali and London, the international real estate community gathered in Cannes March 8-11, 2011, for the 22nd edition of MIPIM that saw an enlarged number of major projects unveiled to international investors and tour de force keynote presentations from… [Read More]
$90 MILLION FOR LUCILLE ROBERTS’ MANHATTAN WOOLWORTH MANSION?
Posted by Leonard Steinberg on March 12, 2011 4 East 80th Street, the house that belonged to Lucille Roberts, the notorious gym diva who passed away in 2003, has hit the market with a whopping $ 90 million asking price. Ms. Roberts bought the 18,000sf mansion for around $6 million in 1995 and the house underwent substantial renovations to convert… [Read More]
GLASS BRICK MAKES A COME-BACK
Posted by Leonard Steinberg on March 9, 2011 The 80’s are back in a big way in fashion and music, so why not real estate too? Well, guess what…..that 80’s favorite, glass brick, is making a come-back. And it’s being used by none other than ultra-cool architect Enrique Norten in his swell new hotel in… [Read More]
BIDDING WAR CITY
Posted by Leonard Steinberg on March 7, 2011 While not every listing is producing multiple bids, the volume of multiple bids on good properties is back in a BIG way in New York City real estate, both in the residential and commercial sectors. (It has also returned to the art world and many other markets)… [Read More]
THE MEGA-CLASS: A NEW BREED OF RICH
Posted by Leonard Steinberg on February 1st, 2011 After attending the launch to-day of AVENUES, the new private school scheduled to open in September 2012 in West Chelsea on Tenth Avenue at 25th Street, I realized a new breed of global wealthy is emerging: The MEGA-CLASS. The MEGA CLASS is a group of very wealthy… [Read More]