Luxury New York real estate is invading the media…. Supposedly, according to the NEW YORK POST, Brown Harris Stevens brokers, Brenda Powers and Elizabeth Sample, made it past the first cut of candidates to potentially join the cast of “The Real Housewives of New York City.” Kim G…..watch out! What about Jackie, Dolly? Hello????
EQUITY MARKETS DIP: REMEMBER WE LIVE IN THE ROLLER COASTER ERA.
Over the short term the market looks vulnerable to a correction. The last couple of weeks of bad economic news have been neglected because the bulls are hoping that Ben Bernanke will very soon set the market afire with a new batch of quantitative easing. We have entered a mind set of perverse logic: The weaker the… [Read More]
STUYVESANT TOWN-PETER COOPER VILLAGE -15 Cents on the Dollar
In this morning’s POST, it is reported that New York hedge fund honcho Bill Ackman has set his sights on the beleaguered Manhattan apartment complex Stuyvesant Town-Peter Cooper Village — with an ambitious plan to wrest control of the 11,227-unit complex by transforming the infamous rental property into a giant co-op. The 44-year-old investment guru’s… [Read More]
HIGH UNEMPLOYMENT? IT’S ABOUT THE REAL ESTATE!
Unemployment is very high, yet many employers are finding it extremely difficult to fill certain jobs. It is estimated that unemployment amongst the very skilled is actually rather low: We know unemployment amongst the highly educated is definitely low. In this morning’s Wall Street Journal, an article tries to establish what is causing this. Employers and economists… [Read More]
THE NEXT MANHATTAN? SUB ZERO LIVING: FROM AMENITY TO….?
Could this be the next Manhattan, a take on Manhattan’s quintessential status symbol the SUB ZERO? A piece of ice four times the size of Manhattan island has broken away from an ice shelf in Greenland, according to scientists in the U.S. The 260 square-kilometer (100 square miles) ice island separated from the Petermann Glacier in… [Read More]
WE ENTER THE ERA OF THE FLASH-CRASH!
The recent equity market flash-crash was determined to be a product of the computer-run systems we rely so heavily on. The flash crash produced a 1000-plus point market drop. And worse, we should expect another flash-crash in the future. With our lives increasingly over-taken by computers, the FLASH CRASH could happen not only on Wall… [Read More]
MANHATTAN INFLATION, MTA-style
Anyone worried about inflation going away in New York, and worse, turning into deflation (the talk du jour), should look to the MTA for some relief. In a recent audit, astounding abuse of the overtime pay system is revealed. This is on top of the absurd retirement policies they have in place. An example: The audit… [Read More]
HUDSON BLUES….
In this morning’s Wall Street Journal, the next stage in the saga of the building HUDSON BLUE at 423 West Street is reported: http://online.wsj.com/article/SB10001424052748704017904575409722058648014.html This building, located a few doors down from the 3 Richard Meier Towers, home to celebrities Calvin Klein and Hugh Jackman, somewhat emulating their glass and white steel facade, has been… [Read More]
IS WALKING TO WORK IN VOGUE?
Conde Nast is in the final stages of negotiating its new office space lease in the new World Trade Center building….this means if you see a fabulously rail-thin figure hiding behind a Birkin bag, power-walking in a southerly direction, it may just turn out to be Anna Wintour, the empress of Vogue, who will officially… [Read More]
NEW YORK HAS THE MOST MILLIONAIRES, BUT….
In to-days Wall Street Journal, a tally is made of the number of millionaires (those with at least $ 1million in investable assets) in the major cities of the US: New York ranks #1, and has almost as many millionaires as Los Angeles, Chicago, Washington and San Francisco…combined! The number grew almost 19% in 2009. BUT, $ 1million… [Read More]