Posted by Leonard Steinberg on April 16th, 2013 Is Manhattan luxury real estate experiencing hyper-inflation? It appears so. Whereas 4 months ago every developer (and their bankers) was talking about $ 2,000/sf for the entry level to the downtown luxury new development market, now it appears, just a few months later, that this figure has… [Read More]
THE DEATH OF THE AUDIO-VISUAL CLOSET "RACK"?
Posted by Leonard Steinberg on March 18th, 2013 SE2 LABS think that high-end custom Audio Visual installations are getting much too complicated: we agree! Who wants that huge ‘brain/rack’ of components in a closet when closet space is needed. If you go it alone you’ve got a bewildering array of choices when it comes to amplifiers, video processors,… [Read More]
150 CHARLES STREET: HALF A BILLION IN SALES IN 4 WEEKS
Posted by Leonard Steinberg on March 16th, 2013 The New York Times ran an article for this weekend’s REAL ESTATE section talking about the ‘Downtown Spring awakening’: 150 Charles Street, the Witkoff Group developed, CookFox-designed building in the West Village achieved over HALF A BILLION in sales in 4 weeks, certainly a record for New… [Read More]
NEW YORK SCAFFOLDING LAW AND THE INSURANCE RACKET
Posted by Leonard Steinberg on March 10th, 2013 Everyone is chattering at the rising costs of a New York apartment. What most don’t realize is the dramatically increased costs of land, and worse, the rising costs of insurance during construction. Its time to reform New York state’s infamous scaffolding law. The law, which dates back… [Read More]
DIMENSION DEMENTIA
Posted by Leonard Steinberg on March 9th, 2013 Now that New York real estate buyers are back to buying apartments from floor plans have you noticed how some developers ‘cook’ the numbers by including the kitchen in the living room dimensions to make the living room appear much larger dimensionally? Something is being cooked here…..
JOBS AND THOSE PESKY TWO TRILLION DOLLAR OFFSHORE CORPORATE PROFITS
Posted by Leonard Steinberg on March 7th, 2012 Peggy Noonan penned a telling article about the US economy in the Wall Street Journal: she says the focus should be on jobs, because the country needs jobs more than it needs class warfare and threats of doom and gloom from President Obama…..even though 236,000 jobs were… [Read More]
GLOBAL WEALTH FACTS – THE FUTURE OF THE LUXURY MARKET LOOKS BRIGHT – NEW YORK WEALTHY TO RISE 36%
Posted by Leonard Steinberg on March 6th, 2013 For anyone wondering about the longterm future of wealth in the world and especially New York, here are some facts to ponder: Over the next 10 years, New York will see a rise of 36% of High Net Worth Individuals, those with assets above $ 30million……does that… [Read More]
KNIGHT FRANK WEALTH REPORT 2013 SHOWS NEW YORK STRONGER THAN EVER
Posted by Leonard Steinberg on March 6th, 2013 The KNIGHT FRANK (our international affiliate)Wealth Report just came out, and New York is looking good: here is a summary….. Battered but not bowed – New York remains the world’s financial powerhouse weathering the storm. New York has beaten off both the elements and stiff competition from… [Read More]
LAMBORGHINI SIGNALS A SHIFT IN THE UBER LUXURY MARKET?
Posted by Leonard Steinberg on March 5th, 2013 Ahead of the Geneva Motor Show this week, pictures of a new Lamborghini Veneno so exclusive — and expensive — that it’s only being made for three people, who have already supposedly put down their deposits, were leaked. Does this signal a shift in the ultra luxury market… [Read More]
IKEA TO OPEN 50 BUDGET HOTELS IN EUROPE: ARE CONDOS NEXT?
Posted by Leonard Steinberg on March 5th, 2013 IKEA, the mega-store for modern design-on-a-dime budgets is entering the hotel business (meatballs for room service?)in partnership with Marriott and Nordic Hospitality…..are condos next? Maybe the perfect partner for those low budget micro apartments?