Posted by Leonard Steinberg of COMPASS on February 17th, 2015 Property price escalations have soared over the past few years in cities such as London, Miami, Aspen, Beverly Hills and New York, in some areas coming off lows caused by the GREAT RECESSION: Many of the super-wealthy are now asking whether its realistic that pricing escalation… [Read More]
WILL THE HOME BATTERY BE THE NEXT 'MANHATTAN-MUST-HAVE' HOME AMENITY?
Posted by Leonard Steinberg of COMPASS on February 13th, 2015 Elon Musk, the James-Bond-sized leader (and fellow South African)behind TESLA, announced that he will be introducing a HOME BATTERY to the market in the next few months, a devise we assume will be akin to a home generator. While Tesla is a car manufacturer, it… [Read More]
NEW YORK TIMES EXPOSES FOREIGN OWNERSHIP ISSUES IN NEW YORK
Posted by Leonard Steinberg of URBAN COMPASS on February 8th, 2015 The New York Times has written a feature story on how shell companies front some dubious buyers of super-luxury New York apartments. The article is very detailed and thorough, yet there are a few things that amaze me: 1) What about all the US… [Read More]
URBAN COMPASS LANGUAGE
Posted by Leonard Steinberg on February 7th, 2015 Since joining URBAN COMPASS 8 months ago, we have developed a marketing language that has become contagious: It has spread like wildfire throughout the real estate industry here and everywhere and it is something I am most proud of. People are talking in New York, Miami, Los… [Read More]
HOARDERS ANTICIPATING A MARKET CORRECTION?
Posted by Leonard Steinberg, President of URBAN COMPASS, on January 24th, 2015 As the price of oil dips, word is out that some are hoarding large supplies of oil in anticipation of rising prices in the future. Recently I hear of chatter amongst the very wealthy how they are hoarding (very cheap) cash in anticipation… [Read More]
NEW YORK'S FOUR FIGURE LAND COSTS
Posted by Leonard Steinberg of URBAN COMPASS on January 18th, 2015 Land is now selling for above $ 1,000/sf on a regular basis in Manhattan, a historic moment in our City’s history. When a developer buys land at these prices, its almost a certainty that he or she will have to sell the apartments built… [Read More]
100 MILLION DOLLAR LISTING: NEW YORK REAL ESTATE RECORD!
Posted by Leonard Steinberg, President of URBAN COMPASS on January 17th, 2015 A historic moment has arrived in NEW YORK CITY: The city’s first $100 million apartment has just sold, a duplex at One57 (157 West 57th Street). We at Urban Compass are extremely proud of our very own ROY KIM, head of Urban Compass… [Read More]
MASSIVE NEW YORK REAL ESTATE TAX HIKE
Posted by Leonard Steinberg of Urban Compass on January 16th, 2015 As New York City tax coffers swell to record-level surpluses, it was announced that real estate taxes are about to rise dramatically……of course with a characteristically un-American sense of un-equalness that has become the hallmark of our messed up New York real estate tax… [Read More]
NEW LISTING! 545 West 20th St, PH6/7B
545 WEST 20th STREET – THE PENTHOUSE Perched atop this historically significant loft building, the Lifesaver Lofts, in the heart of West Chelsea, nestled amongst the world’s leading art galleries, alongside the landmark David Zwirner Gallery across from Chelsea Piers, this spectacular penthouse reveals itself once the private, key-locked elevator door opens. After a brief… [Read More]
IS UBER THE NEW MANHATTAN CAB?
Posted by Leonard Steinberg on January 10th, 2015 UBER hit New York like a ton of bricks just a few short years ago, turning the whole industry upside down by actually making it easy and seamless to hire a car/limo within minutes, often less. UBER had been an inspiration to us at URBAN COMPASS in… [Read More]