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]
BRACE YOURSELF: 2010 WALL STREET BONUS BONANZA COMING!
2010 Bonus pay on Wall Street is on pace to break a record high for a second consecutive year, according to a study conducted by The Wall Street Journal……so brace yourself for a real estate boost this coming Winter in New York. About three dozen of the top publicly held securities and investment-services firms—which include… [Read More]
WASHER/TREADMILL/DRYER: THE LATEST BUILDING AMENITY?
For all those body-perfect-obsessed, O.C.D.-a-la-Joan-Crawford-clean-freaks, how about a treadmill sandwiched between the washer and the dryer? This perfect example of a combination gym/laundry in Brooklyn either talks to a lack of space in New York, or New Yorkers obsessive compulsive behavior. The perfect new building amenity for a real estate market desperate for something new… [Read More]
THE MOST EXPENSIVE DOOR IN THE WORLD?
Yes, this door, a simple door located in THE CALEDONIA fronting onto The High Line Park, could very well be the most expensive door in the world….. Reliable sources have told us that negotiations between the building and the Parks department have broken down after the building was asked to pay an annual fee of… [Read More]
RACY REAL ESTATE: THE STANDARD HOTEL INSPIRES BAD BEHAVIOR?
Does real estate with a racy image expose you to potential legal hazzards? Does it inspire bad behaviour? An Australian businessman acquitted of trying to rape a maid at The Standard is suing the Meatpacking District boutique hotel for $10 million, charging that its racy atmosphere contributed to the false charges filed against Matthew Moorhouse, 42,… [Read More]