And this is news? Any New Yorker has know this news headline for decades. So instead of repeating the obvious, here are some solutions for reducing the noise levels in Manhattan: 1) Fine (heavily) and remove any and all vehicles whose noise levels exceed the legal limit: we all know the culprits….those annoying Harley drivers… [Read More]
THE ECONOMY: IS GOOD NOT GOOD ENOUGH?
The economy in the U.S. probably grew at a faster pace in the third quarter, reflecting a pickup in consumer spending that bodes well for the recovery’s staying power, economists projected a report this week will show. Gross domestic product rose at a 2 percent annual pace, up from a 1.7 percent rate in the… [Read More]
FORECLOSURE MESS WILL COST ALL: YES, EVEN IN MANHATTAN.
The foreclosure mess could hurt homeowners in Manhattan in an indirect way: The costs of buying an apartment and paying off the mortgage are likely to go up, say housing experts. The rising costs will come both during the closing and throughout the life of the loan. At the closing, the cost of title insurance,… [Read More]
DOWNTOWN! Manhattan’s favored suburb. Convenience is the new luxury.
Is Downtown Manhattan the new New York SUBURB? With 200 Eleventh Avenue, you have a garage attached to your own apartment……many full-full service buildings are becoming similar to suburban ‘gated communities’ affording even more conveniences than their suburban counterparts….think 101 Warren Street with its own Whole Foods, Bed Bath and Beyond and Barnes and Noble IN… [Read More]
MANHATTAN: Friendliest, safest, best…..now what about the cyclists?
A survey has just been released assessing the satisfaction of New Yorkers with their City…..Manhattan came out on top for some critical parts of the survey. Not only is it perceived to be the friendliest and safest borough, it is also considered to be the best place to live. On the down side, Manhattan was… [Read More]
RENTS ARE TOO DAMN HIGH? MIDDLE CLASS IS THE NEW POOR (IN NEW YORK)!
Rents in New York, Los Angeles and Washington D.C. average $2,090 and are among the highest in the nation, running as much as 218% higher than in other major metro areas, according to Movoto.com, which tracks sales and rental prices in the 40 largest U.S. cities. “This fact is common knowledge throughout our dear land and… [Read More]
THE REALLY, REALLY STUPID MTA…… REALLY!
How stupid is the MTA? Well, just when you thought they were as stupid as stupid gets, we are reminded how much more stupid stupid can be….. As we all know by now, the MTA is building an extension to the #7 subway line from Midtown all the way over west to a new stop… [Read More]
A TRASHY TALE….
Have you ever noticed the trash in front of some buildings (a system that appears more in keeping with 19th century technology) while other buildings do not have to succumb to placing large bags of garbage in front of their buildings? “It is truly amazing that in the 21st Century, with a world full of… [Read More]
IAN SCHRAGER SPEAKS OUR LANGUAGE
At yesterday’s REAL DEAL FORUM Ian Schrager spoke the words that resonate with us most: “There’s always an opportunity for something special and unique.” We couldn’t agree more. And more importantly, we think the vast percentage of real estate developed is so hideously, grotesquely, boringly un-special, it almost deserves to stagnate and be discounted. Unfortunately,… [Read More]
DEVELOPMENT SUFFOCATION: OUT-OF-CONTROL GOVERNMENT BENEFITS?
Why are important projects now unaffordable? This morning the New York Times reports how earlier in the 20th century, when the federal and state governments were much smaller, they had the means to undertake gigantic new projects, like the Interstate Highway System and the space program. But now, when governments are bigger, they don’t. These… [Read More]