Posted by Leonard Steinberg on April 13, 2011 The world is learning the painful reliance we have on one another where because of Japan’s horrible disaster, many components manufactured there are slowing down the production of products made elsewhere around the globe. These supply disruptions affect pricing in a meaningful way. A similar supply disruption… [Read More]
ALL BUILDINGS SEEKING TO RE-FINANCE DEBT SHOULD KNOW THIS
Posted by Leonard Steinberg on April 11, 2011 Many buildings seeking to re-finance their debt to take advantage of the still historically low rates, come across a little problem …..pre-payment penalties. With the potential for rising interest rates increasing daily, those wishing to re-finance now cannot do so as the pre-payment penalties are often severe…. [Read More]
"I AM NOT WORKING WITH A BROKER!" ARE BUYER'S BROKERS DOOMED?
Posted by Leonard Steinberg on April 10, 2011 I have repeatedly heard the refrain “I am not working with a broker!” in the fifteen plus years I have been a broker. The words are said by some buyers almost with a sense of pride and accomplishment. And they are often heard by listing brokers who relish… [Read More]
MY WAR ON CABS
Posted by Leonard Steinberg on April 9, 2011 Cabs in New York City have become expensive. Still they are not nearly as expensive as those in London or some other cities. I don’t particularly mind paying for this service as it is one that I find extremely convenient and efficient. I had thought of getting… [Read More]
AMERICAN IDOL REPORTING
Posted by Leonard Steinberg on April 9, 2011 This week, Amercan Idol fans were shocked when one of the shows biggest talents, Pia, was voted off the show…..it was another reminder of the dangers of mass tastes dictating. Without Simon Cowell, the judges superficial, uneducated, Jenny-from-the-block evaluation failed us all. I feel the same way about real… [Read More]
THE IMPORTANCE OF GOOD SLEEP AND A GOOD BEDROOM
Posted by Leonard Steinberg on April 6, 2011 The Wall Street Journal just reported on that small segment of society that thrives on very, very little sleep. However, out of every 100 people who believe they only need five or six hours of sleep a night, only about five people really do. The rest end… [Read More]
THE DISPARITY BETWEEN THE RICH TODAY AND 30 YEARS AGO…..
Posted by Leonard Steinberg on April 3rd, 2011 In 1980, the average CEO earned 42 times the average worker, according to the Institute for Policy Studies. In 2009, the multiplier had skyrocketed to 263. Has the disparity in wealth and incomes between the very rich and the working classes become a global hot button issue… [Read More]
LUXURYLETTER – THE DOWNTOWN MARKET REPORT
Posted by Leonard Steinberg on April 1, 2011 First Quarter reports released to-day embarassingly distort the Manhattan real estate market statistics: They talk about a sharp drop in average pricing (like there is such a thing as average in Manhattan) but fail to mention that the reason for this is the low inventory of new construction… [Read More]
BUILDING CONDO/CO-OP BOARD OVERSIGHT?
Posted by Leonard Steinberg on April 1, 2011 No, this is not an April Fool’s joke: All of us in New York have either heard of or experienced first hand the outrageous behavior of a co-op board, and yes, even a CONDO board. This morning the New York Times reports that a bill now before… [Read More]
CANAL STREET: THE NEXT PARK AVENUE?
Posted by Leonard Steinberg on March 31, 2011 Residential real estate sales in Downtown New York soared in the month of March, and as the first quarter of 2011 draws to a close, it is clearly evident that the market has recovered strongly from a year ago, and even from the last quarter of 2010…. [Read More]