Posted by Leonard Steinberg on May 25th, 2014 First-time buyers are a diminishing sector of the housing market and now account for about 16% of new-home purchases, down from 25% – 28% between 2001 and 2007, according to the National Association of Home Builders. In the existing-home market, first-time buyers accounted for 29% of purchases in April:… [Read More]
BROKER ETHICAL STANDARDS
Posted by Leonard Steinberg on May 24th, 2014 I am always impressed by the public emphasis real estate leaders place on honesty and strong ethics in the real estate industry: I am nevertheless ceaselessly disappointed in how poorly these ethics are policed. The silence is deafening. And silence is the equivalent of an endorsement of bad behavior… [Read More]
THE DEATH OF THE DINING ROOM?
Posted by Leonard Steinberg on May 23rd, 2014 This morning’s Wall Street Journal addresses the demise of the dining room in luxury homes: I wouldn’t be too fast in making this call. There is certainly a strong argument to be made that in large cities when confronted with high space costs the choice to have… [Read More]
CITY GROWTH DRIVERS: YOUTH AND RETIREES?
Posted by Leonard Steinberg on May 22nd, 2014 An interesting article in the Wall Street Journal this morning addresses the possibility that urban growth may be slowing, with renewed interest in the suburbs. Two demographics continue to drive Urban growth: the ‘young’ and the ‘old’ either for life-style reasons or to downsize their living arrangements…. [Read More]
FABULOUS FLIPPERS COME TO 57th STREET!
Posted by Leonard Steinberg on May 21st, 2014 As new neighbors such as the Nordstrom Tower, Steinway Tower, MOMA Tower and 220 Central Park South, 432 PARK AVENUE get added to the 57th Street area mix competing with One 57, a new classification of competitors has joined the mix: re-sellers/flippers….. or FABULOUS FLIPPERS? Yes, re-selling and flipping… [Read More]
Just listed! 27 Wooster PH delivered with its own private pool!
Located in a quiet section of SoHo, 27 Wooster Street stands as a testament to rigorous contemporary architecture that simultaneously respects its historic landmarked surroundings. This 6,700 square foot five bedroom, four full and two half bathroom duplex penthouse duplex combines the modern aesthetics of loft living with the privacy and elegance of more traditional… [Read More]
TRIBECA MAISONETTE MANSION: 60 Collister Street
Perfectly positioned in the heart of Tribeca in an imposing pre-War, full-service doorman condominium building, this triplex property spanning over 9,000 square feet is entirely unique, offering grand, voluminous space reminiscent of a stately mansion within the context of a full-service loft building with private parking.You enter this home off the elevated building lobby into… [Read More]
THE UNREAL WORLD
Posted by Leonard Steinberg on May 19th, 2014 Last night’s BILLBOARD MUSIC AWARDS ‘performance’ by Michael Jackson highlighted the unreality of our world. There was Michael Jackson performing for the world through high technology. Amazing. Obviously it was a holographic image but it was eerily real. And yet it was not real. It was about… [Read More]
DELUSIONAL RENT-STABILIZED TENANT ENTITLEMENT
Posted by Leonard Steinberg on May 18th, 2014 The cover story of the NEW YORK TIMES real estate section this weekend addresses the outrageous sense of entitlement of rent controlled and rent regulated tenants who for some insane reason believe they are entitled to have access to the exact same amenities and services as those… [Read More]
NEW YORK 3rd 'SMARTEST CITY', ECONOMIC CAPITAL OF THE WORLD
Posted by Leonard Steinberg on May 18th, 2014 A recent study by ICIM concluded that the world’s Top 3 “smartest” cities are Tokyo, London and New York. New York ranked number 1 for the Economy. To establish this ranking, the researchers studied 135 cities based on 50 indicators along 10 different dimensions. Of the top 20 cities,… [Read More]