Posted by Leonard Steinberg on January 8, 2011 Robert Knakal of Massey Knakal, a leading brokerage for smaller commercial buildings, just reported that Commercial real estate market conditions continue to exert upward pressure on value as an acute supply/demand imbalance leaves thousand of active buyers fighting over relatively few available properties. Coupled with an extraordinarily… [Read More]
NAPLES OR NEW YORK? A DISGRACE!
Posted by Leonard Steinberg on January 4, 2011 So this is what we pay those exorbitant real estate taxes for…..are you kidding me? New York has the highest taxes in all of the USA, and yet our Sanitation Department cannot pick up the trash TEN DAYS after the big snowstorm? This is an atrocity, that… [Read More]
LUXURYLETTER REPORTS ON 2010 END OF YEAR SALES RESULTS.
Posted on January 3, 2011 by Leonard Steinberg Downtown closed out 2010 with a bang: The volume of $ 5million+ signed contracts and closings was somewhat astounding, further re-enforcing the theory that the highest end of real estate in Downtown Manhattan is literally booming. Now we can officially say that the market has returned once… [Read More]
THE DINING ROOM FINDS NEW LIFE
Posted by Leonard Steinberg on December 31st, 2010 Yesterday’s Wall Street Journal had an interesting article on alternative uses for the traditional dining room. As a broker I consistently hear the story of ‘the un-used dining room’…..its a story how everyone buying a home dreams of lavish dinner parties in their dining room surrounded by… [Read More]
200 ELEVENTH AVENUE: BUILDING OF THE YEAR?
Posted by Leonard Steinberg on December 31, 2010 Of course we are completely biased, as we were actively involved in the creation and marketing of 200 Eleventh Avenue. And while it may not be a huge compliment, we took it as one when CURBED.COM rated 200 Eleventh Avenue the BEST NEW BUILDING OF 2010. Kudo’s… [Read More]
TWO PRE-RECESSION WORDS RETURN: 1) MULTIPLE 2) BIDS
Posted by Leonard Steinberg on December 21, 2010 Before the recession hit hard, MULTIPLE BIDS were the norm on many real estate listings. Those two words virtually disappeared from the vocabulary of New York real estate brokers: they are ba-ack! I have recently experienced a few of my own listings with more than one bidder,… [Read More]
THE WHITNEY: THE WEST SIDE DOWNTOWN CHANGES FOREVER
Posted on December 21st, 2010 by Leonard Steinberg With the recent announcement of the Whitney Museum’s new outpost planned for construction at the end of the Highline Park in the Meatpacking District, Downtown will be forever changed. The Renzo Piano (Think Pompidou, Paris)designed 55,000sf art museum will be a cultural anchor of historic significance that… [Read More]
BRACE YOURSELF: IS LUXE-HYPER-INFLATION AROUND THE CORNER?
Posted by Leonard Steinberg on December 19, 2010 Downtown New York residential real estate inventories are now approaching the levels of 2005…..does this equate to the beginnings of a shortage? With new construction having ground to a virtual halt over the past 2 years, we should not expect any brand new DELIVERABLE quality ultra-luxury apartments for… [Read More]
HUCKABEE INSANITY? 90%+ FINANCING RETURNS, BUT ONLY TO POLITICIANS?
Posted on December 19, 2010 by Leonard Steinberg Sorry we have been MIA lately, so back to the BLOG: Potential presidential candidate Mike Huckabee is building an 8,224 sf, $3 million home on the beach in Walton County. The Arkansas Times reported that the building permit for the three-story house lists the projected cost of construction at… [Read More]
UN-THANKFUL? A THANKSGIVING REALITY CHECK….
Posted on November 24, 2010 by Leonard Steinberg Are Americans un-grateful, using Thanksgiving as a veiled attempt at appearing thankful? Here are some thoughts: 1) We have exited a HUGE recession, somewhat close to a depression within 24 months, and yet everyone is complaining how SLOW the recovery is. 2) Real estate prices,… [Read More]