Posted by Leonard Steinberg on June 11th, 2014 For anyone worried that there may not be enough buyers for luxury New York apartments, take a deep breath. The Boston Consulting Group has determined that the number of millionaire households in the US grew by 18% last year from 2012. The total number of millionaire households in… [Read More]
DOW 17,000: REPEATING THE MISTAKES OF THE GREAT RECESSION?
Posted by Leonard Steinberg on June 9th, 2014 As the DOW approaches the 17,000 mark, many are asking whether we are experiencing a repeat of the 2006-2008 bubble? One driving aspect of the financial crisis of 2008 was the volume of over-valued property loans held by banks. Loans secured by real estate typically make up… [Read More]
560 WEST 24th STREET – WE LOVE THIS BUILDING!
Posted by Leonard Steinberg on June 7th, 2014 I cannot help but gush over this exquisite building currently under construction in the heart of West Chelsea: Its location is superb, perched aside 200 Eleventh Avenue across the street from Gagosian Gallery, between the Hudson River Park and the Highline Park, around the corner from AVENUE’S SCHOOL…..and… [Read More]
BIG BANKS TO CUT JOBS: WILL BANKERS HEAD INTO REAL ESTATE?
Posted by Leonard Steinberg on June 5th, 2014 Reports today are surfacing that the trading businesses inside the biggest global investment banks are expected to suffer job losses (possibly in the thousands) by the end of 2014: what does this mean for the New York real estate market? Bankers increasingly worry that the downturn in… [Read More]
$500,000 for 15 CAMERAS: GOVERNMENT AT ITS VERY WORST?
Posted on June 4th, 2014 by Leonard Steinberg After the horrific stabbing of 2 young kids in the public housing buildings Boulevard Houses, Mayor De Blasio spoke up about the inefficiency of government to install cameras which are an outstanding deterrent and effective tool to capture perpetrators of such awful crimes. A $500,000 contract for… [Read More]
THE BEGINNING OF A NEW CHAPTER
Posted on June 2nd, 2014 Dear Friends: Today marks a historic day as I begin my role as President of URBAN COMPASS. We have always been at the forefront of the New York Real Estate industry, always with an eye towards the future of real estate: in URBAN COMPASS we see the future. URBAN COMPASS… [Read More]
INFORMATION WITHOUT INSIGHT – MANHATTAN PRICING DROP?
Posted by Leonard Steinberg on May 30th, 2014 Todays screeching headlines generated by a report from STREETEASY that Manhattan condominium prices registered their biggest monthly decrease in almost four years last month is further proof that information without insight is useless. According to the Streeteasy report, the median condo price fell 1.4% in April to… [Read More]
RAT PROBLEM OR GARBAGE PROBLEM?
Posted by Leonard Steinberg on May 29th, 2014 RATS! New York has always had a rat problem, but it appears to have worsened recently with the acute levels of construction and digging around the city: Now, a new city “rat squad” is launching an offensive against colonies in parks and sewers where rodents lurk and infest… [Read More]
IS EXECUTIVE PAY A BARGAIN COMPARED TO CELEBRITY PAY?
Posted by Leonard Steinberg on May 28th, 2014 Todays revelation of executive pay shows how much top executives earn, and already the cries of outrage are being heard. The divide between the top earners and the average earners in a company is growing, yet the divide between those that are often responsible for the livelihoods of… [Read More]
THE DEMISE OF CRESTRON: WILL APPLE CONTROL YOUR HOME?
Posted by Leonard Steinberg on May 27th, 2014 Apple, the creator of all things cool and simple-to-use, is planning to introduce a smart home concept at its upcoming Worldwide Developers Conference, according to The Financial Times. The company is planning to showcase a system that lets users control their lights, appliances and security systems with their… [Read More]