NEW NOISE POLLUTION LAWS/CITY ORDINANCES REQUIRED

Posted by Leonard Steinberg on May 28th, 2011 One of the worst forms of pollution in a city like Manhattan is noise pollution: Because of the very nature of the city, noise affects individuals more acutely than in other parts of the country where noise can carry and be spread out more. It is time… [Read More]

NO ONE IS BUILDING STUDIOS…

Posted by Leonard Steinberg on May 26th, 2011 I just went over the stats analysis and noticed an interesting factoid: The vast majority of studios that have traded  in Manhattan in the past months are co-ops not condos, which leads me to believe developers are avoiding building them. I don’t think the day of the studio… [Read More]

EVERYONE IS EXHAUSTED, STRESSED OUT: TIME FOR MORE HELP?

Posted by Leonard Steinberg on May 19, 2011 The real estate market in Manhattan is absolutely exhausted…..brokers, buyers, sellers, mortgage brokers, managing agents, you name it. During the recession, while everything moved at a slower pace, the industry became accustomed to a longer, more protracted marketing and searching process and then slower negotiation. Now the… [Read More]

POINTING FINGERS, DOUBLE STANDARDS: Hmmmmm……

Posted by Leonard Steinberg on May 14, 2011 Everyone seems to be pointing fingers these days with horrible double standards…..here are some examples: 1) Pakistan is OUTRAGED that the USA ‘invaded’ their land to kill the world’s worst terrorist and the government now demands that these outrageous breaches of their borders end immediately…. even though… [Read More]

APPRAISAL BANKING RULES NEED MODIFICATION

Posted by Leonard Steinberg on May 12, 2011 New banking laws prevent a buyer from having an appraisal ordered prior to a fully executed contract: I think this is just stupid. Here is what I propose and why: With many Sellers reluctant to provide financing contingencies, and certainly appraisal contingencies, the ability to have an… [Read More]

CHELSEA MARKET ADDITION GOSSIP

Posted by Leonard Steinberg on May 11, 2011 We have heard a rumor through the grapevine that Jamestown, who is seeking funding for the rather grotesque, monstrously scaled Chelsea Market Addition, may not be doing exactly as they say…. as part of the due diligence the lender supposedly asked if Jamestown planned to actually build this addition or just… [Read More]

DEAR SELLERS: PLEASE TAKE A LOOK AT THOSE PHOTOS…..

Posted by Leonard Steinberg on May 10, 2011 I received an e-mail to-day from a broker at NESTSEEKERS showcasing a very attractive property in a strong location that was quite well priced…..the only problem is the photos would give even the most astute eye a hard time identifying that this is indeed a good apartment…. [Read More]

CO-OPS: NEW TIMES, NEW RULES

Posted by Leonard Steinberg on May 8, 2011 We live in new times, which requires adjusting. All of us are doing it. Some Democrats are talking about deficits, some Republicans are talking about energy savings and green energy. Condominiums are talking about reserve funds and closer scrutiny of buyers. Yet many co-ops appear to be stuck in… [Read More]