Posted by Leonard Steinberg on September 24th, 2014 Imposing a PIED A TERRE tax on New York luxury apartments is probably one of the worst economic proposals to raise tax revenue I have ever heard of. The tax of up to 4% annually would be applied to all apartments and homes with a current market value… [Read More]
2,325 BILLIONAIRES WORLDWIDE, 103 IN NEW YORK CITY, UP OVER 7%
Posted by Leonard Steinberg of URBAN COMPASS on September 18th, 2014 The world’s (known) billionaire population has grown by over 7% in the past year to 2,325. Of that, 103 of them live in New York and 571 in the USA. 8 of the TOP 20 Cities are now in Asia. 81% of billionaires are… [Read More]
SEEN FROM THE WINDOW OF 146 WAVERLY PLACE.
Posted by Leonard Steinberg of URBAN COMPASS on September 14th 2014 As you peer out of the window of 146 Waverly Place, the remarkable townhouse being renovated to perfection, designed by architect Wayne Turett, you catch a glimpse of the property at 27 Christopher Street a few doors away that just traded hands for $45… [Read More]
TRILLION DOLLAR LISTING
Posted by Leonard Steinberg of URBAN COMPASS on September 2014 Is the world becoming desperate for a headline? It appears so. Joan Rivers always joked that launching a big career required some sort of porno tape…..she was insistent that her daughter Melissa was just being difficult by not doing so and could have had as… [Read More]
NEIMAN MARCUS GOES WEST: HUDSON YARDS MANHATTAN LUXE!
Posted by Leonard Steinberg on September 4th, 2014 Where will all those chic new homeowners coming to West Chelsea do their shopping? Neiman’s of course! A quick hop onto the Highline Park will take swell Chelsea dwellers a few streets north to Hudson Yards. Yes, its official: Neiman Marcus is coming to the West Side… [Read More]
THE INFLUENCE OF HOTELS ON LUXURY APARTMENT BUYERS
Posted by Leonard Steinberg on August 27th, 2014 I am currently comfortably settled in my hotel room at the tip of a peninsula overlooking the Mediterranean Sea and the famous Faraglioni rocks of Capri. Looking around this room I am reminded why so many buyers of luxury real estate around the world use the quality… [Read More]
SUPER-MODEL GISELLE EARNS $47 MILLION PER YEAR
Posted by Leonard Steinberg on August 21st, 2014 I am happy to hear that Giselle, the ultimate super-model, earns $47 million per year…..she buys lots of real estate, pays lots of taxes and fuels lots of jobs. What I am not happy to hear is the automatic outrage one hears when a corporate titan earns… [Read More]
ONE-TIME CASH WINDFALLS: WHAT TO DO WITH THE MONEY?
Posted by Leonard Steinberg on August 21st, 2014 I sit on the Board of my building, and sometimes (very seldom) a building can come into a windfall of money, a surprise revenue source that boosts its reserves unexpectedly and outside all budgetary expectations. New York State is experiencing this exact phenomena right now: It will realize a… [Read More]
THE INNOVATION ECONOMY: IS TECHNOLOGY NEW YORK'S FUTURE?
Posted by Leonard Steinberg on August 19th, 2014 There can be no doubt that technology has become a key driving force and growth sector for the New York economy (and the world in general). A city that was once almost entirely reliant on the financial sector for high paying jobs is seeing tech catch up… [Read More]
THE 24/7/365 WORLD
Posted by Leonard Steinberg of URBAN COMPASS on August 16th, 2014 In my role as President of URBAN COMPASS, I post some of my thoughts and observations to the company. I thought I would share this one as it highlights the new world we live in: THE 24/7/365 WORLD. Seasons are a magical way of reminding us… [Read More]