Posted by Leonard Steinberg on June 29th, 2011 Some banks are being like governments right now: stupid. When banks do not want to lend to highly qualified, super-reliable, well educated, credit worthy clients, we should conclude that we have a MAJOR problem. When these same banks make everything in the application process so difficult, cumbersome,… [Read More]
THE AUTOMATED PARKING GARAGE
Posted by Leonard Steinberg on June 21, 2011 NY1 reported yesterday on the new automated parking garages opening up in New York, a system where a mechanized system takes your car and parks it in a compartment without the need of a parking attendant. The cars are stacked on top of one another in ‘contained… [Read More]
THE POWER OF A VIEW: THE VIEW AS ART
Posted by Leonard Steinberg on June 20, 2011 The other day I did a showing of a rather wonderful Chelsea apartment that boasts the most extraordinary view…..the kind of view that leaves you breathless even after seeing many truly incredible views. This view located from the top of the Chelsea Stratus building at 101 West… [Read More]
MANAGING AGENTS: GET IT TOGETHER!
Posted by Leonard Steinberg on June 11th, 2011 New York Managing agents perform the unenviable task managing all aspects of a building’s operations and financials including staffing, repairs, maintenance, etc. The managing agent reports to the board of the building, a group of people elected by unit owners to oversee the physical and financial well-being… [Read More]
UBS MOVING BACK TO NEW YORK?
UBS moving back to New York?
YOSSI MILO OPENING NEW HIGHLINE GALLERY
Posted by Leonard Steinberg on June 9th, 2011 YOSI MILO GALLERY is opening a new gallery at 245 Tenth Avenue, the iconic stainless steel building hovering over the newly opened extention of the Highline Park. I am shamelessly sharing this information as we are marketing the building, but it is always exciting when another gallery is… [Read More]
SUPER CITIES – THE ‘VIRTUAL CONTINENT"
Posted by Leonard Steinberg on June 4th, 2011 A dislocation between a few “super cities” is emerging, where international money moves markets, and national counterparts that are still closely linked to economic inertia. In to-day’s Financial Times it is reported that a separation has become marked over the past two years, with strong price growth in some major… [Read More]
WEST VILLAGE CONTINUED STRENGTH
Posted by Leonard Steinberg on June 2nd, 2011 The penthouse at 2 Horatio just went to contract for over $ 4,000/sf: Granted it was gut renovated, has spectacular views and significant outdoor space, but 2 Horatio is not exactly considered a trophy building. It is a co-op with lovely apartments, although most are rather ordinary…. [Read More]
JUNE LUXURYLETTER
Things have certainly heated up in more ways than one: As we finalized this month’s LUXURYLETTER, we were struck at how our editorial coincided with all the dreadful housing news that hit the media. It’s important to remind ourselves that the data collected is a reflection of closed transactions, most of which were negotiated many… [Read More]
GREENWICH CONNECTICUT SUPER-LUXE MARKET STALLED
Posted by Leonard Steinberg on May 30th, 2011 Bloomberg reports that homes priced at $10 million and above are accumulating on the market in Greenwich, Connecticut, a town about 30 miles (48 kilometers) north of Manhattan that’s known as the U.S. hedge fund capital. They’re moving so slowly that it would take more than four years… [Read More]