Posted by Leonard Steinberg on May 21st, 2012 Often buyers wince at the sight of a construction site abutting a building they are considering buying in…..they fear the noise it will produce. They are correct: there will be noise. But don’t for one moment think anyone living in Manhattan is immune to noise. It’s everywhere…. [Read More]
FACEBOOK IPO vs. REAL ESTATE BIDDING WARS
Posted by Leonard Steinberg on May 21st, 2012 All the hoopla surrounding the IPO of Facebook and to-day’s swoon of almost 10% in its valuation leads me to believe one should be very careful about over-hyped product….including real estate. I do believe Facebook to be one of the most over-hyped companies on earth: is it really… [Read More]
COUNTRY-WIDE REAL ESTATE MARKETS EXPLODE: A RUSSIAN INVASION?
Posted by Leonard Steinberg on May 20th, 2012 As news broke this week that the Thomas Juul Hansen designed penthouse at One 57 (157 West 5th Street) sold for around $ 90 million, a new record for New York City real estate pricing, I am in California observing other markets. And all I can hear… [Read More]
A (NEW) CONTRACT WITH AMERICA? (WITH CONSEQUENCES)
Posted by Leonard Steinberg on May 15th, 2012 I am involved with contractual negotiations on a daily basis, even though in New York real estate contracts are handled by lawyers. In most real estate contracts, certain obligations have to be met by both sides, and failing to do so has consequences. Maybe its time for… [Read More]
NEW YORK LEADS CO2 EMISSIONS FIGHT
Posted by Leonard Steinberg on May 13th, 2012 Who says government has to be the sole driving force for change? Coca-Cola, Nike, and more than 30 other companies have cut carbon dioxide emissions by more than 100 million metric tons since 1999 under a partnership agreement with the World Wildlife Fund, according to a new… [Read More]
NEW YORKERS HAVE THE BEST CHANCE OF MOVING UP THE EARNINGS LADDER
Posted by Leonard Steinberg on May 10th, 2012 A few days after the Occupy Wall Streeters protested economic inequality in May Day rallies across the U.S.A, a study has concluded that the ability to become rich may depend on where you live….and New York is at the top of that list! Residents of three East… [Read More]
500 WEST 23rd STREET GETTING A CVS
Posted by Leonard Steinberg on May 9th, 2012 CVS is coming to the corner of Tenth Avenue and 23rd Street in the new Sam Zell rental building. This ends rumors that a Citarella was coming. While a CVS is certainly not a Citarella, I do think its addition to the neighborhood is extremely useful: Right… [Read More]
IS SHEIK NOT CHIC?
Posted by Leonard Steinberg on May 9th, 2012 Sheik Hamad bin Jassim bin Jaber Al Thani — prime minister of the oil-rich Persian Gulf nation of Qatar — was rejected in his $31.5 million attempts to buy a pair of 907 Fifth Avenue apartments once owned by the recently deceased eccentric heiress Huguette Clark. Although… [Read More]
MONARCH BUTTERFLIES ARRIVE IN NEW YORK EARLY?
Posted by Leonard Steinberg on May 7th, 2012 The Monarch butterflies have landed at the HUDSON RIVER PARK. ….but aren’t they supposed to come in June? Yesterday while strolling down the park I witnessed thousands of these magnificent butterflies scattered over the magical lavender-colored beds of Catmint, New York’s equivalent to Provence’s lavender. Were they… [Read More]
SNOOKIFIED!
Posted by Leonard Steinberg on May 6th, 2012 Yesterday was one of those rare and wonderful days where I could take off some time in the afternoon to enjoy a CITY DAY: I met a good friend for lunch at Jean Georges (exquisitely renovated in ONE week – all contractors and designers take note –… [Read More]