Posted by Leonard Steinberg on September 14th, 2013 As we approach the anniversary of the catastrophic storm Hurricane Sandy, the DOB has passed a new building and zoning code for buildings exposed to the flood zone……the code requires a building in West Chelsea to be elevated by four feet above street level. Already developers, architects… [Read More]
WILL 140 WEST STREET BE WALKER TOWER SOUTH?
Posted by Leonard Steinberg on September 12th, 2013 Ben Shaoul of Magnum Real Estate has purchased the upper floors of the magnificent Verizon building located at 140 West Street, a building very similar to the Verizon building that became Walker Tower. This superb Art Deco landmark sits alongside the Freedom Tower, nestled between Tribeca and… [Read More]
REFLECTING ON 9/11 A DOZEN YEARS LATER
Posted by Leonard Steinberg on September 11th, 2013 Its a dozen years since the horrific attacks of 9/11: since then New York and our world has changed forever, so here are some observations of the effects of 9/11 from a real estate (and human)perspective: 1) SECURITY remains an on-going, daily concern. We are reminded… [Read More]
FASHION WEEK AND NEW YORK CITY REAL ESTATE
Posted by Leonard Steinberg on September 10th, 2013 FASHION WEEK in New York City is a reminder of how important this industry is to the welfare of our city. These fashion shows alone bring in hundreds of millions of dollars in production, venue rental, equipment rental, media, tech, travel and hotel revenue. While the fashion… [Read More]
PETER MARINO PARTNERS UP WITH SHVO IN WEST CHELSEA
Posted by Leonard Steinberg on September 9th, 2013 I have heard that leather-bound uber-interior designer Peter Marino has been hired by Michael Shvo (for many millions!)to design the building on the corner of West 24th Street and Tenth Avenue (this has to be the hottest block anywhere!), once home to the Getty gas station, and… [Read More]
THE SHVLAWN COMES TO WEST CHELSEA
Posted by Leonard Steinberg on September 9th, 2013 The Shvo SHVEDGE on West Chelsea’s uber-block on West 24th street has come down to reveal a fence and lawn….or SHVLAWN! What’s next? And how much more money will be spent on marketing even before this building is designed?
IS MONACO REAL ESTATE CHEAP FOR THE SUPER-RICH?
Posted by Leonard Steinberg on September 5th, 2013 I recently visited Monte Carlo, the wealthiest country/principality in the world with ZERO unemployment and per capita income of around $183,150.00, to tour TOUR ODEON the brand new ultra-luxurious, amenity and services laden 49-storey residential tower being built at the border of Monaco and France. My initial impression… [Read More]
Posted by Leonard Steinberg on September 3rd, 2013 All over the South of France, smokers are still evident: their disregard for others is possibly more remarkable than the fact that they are still smoking. And it makes some very beautiful people (and the real estate they inhabit)a lot uglier. How did we ever live with… [Read More]
WHAT USE IS A LAW WHEN ITS NOT ENFORCED?
Posted by Leonard Steinberg on September 3rd, 2013 Are we heading for another Housing mess? Did we learn nothing from the previous mess? It appears that either the mortgage industry is ignoring the law or the government is not enforcing the law: The Dodd-Frank Act was supposed to require securitizers to retain 5% of the… [Read More]
INSANITY FROM ACROSS THE POND?
Posted by Leonard Steinberg on August 25th, 2013 My jaw dropped as I ate breakfast this morning reading the Times on the terrace over-looking vistas of stone structures with clay tiled roofs, pristine vineyards, lavender and cypress trees in the Luberon Valley (nature in perfect harmony with architecture)…..In an attempt to boost the housing market… [Read More]