Goldman Sachs, whose shares doubled last year as profit soared to an all-time high, awarded Blankfein a $9 million all-stock bonus for 2009, according to a Feb. 5 filing with the U.S. Securities and Exchange Commission. Blankfein’s payment of 58,381 restricted stock units, valued at $9 million at the Feb. 5 closing price of $154.16,… [Read More]
HOUSING FIGURES STABILIZE.
Pending sales of previously owned homes edged up as expected in December, a survey showed on Tuesday: Will this help to calm fears of renewed weakness in the troubled housing sector? The National Association of Realtors’ index of pending home sales rose 1% in December after tumbling 16.4% in November. Economists had expected sales to be unchanged. The NAR’s index was 10.9%… [Read More]
WHITE HOUSE 2011 BUDGET: NOW WHAT?
How will the just announced White House $3.8 trillion budget for fiscal 2011 impact the luxury real estate market? In it is a proposal to raise capital gains taxes back to 20%. (The Bush tax cuts had reduced this to the current 15%.) …..Better get those capital gains posted in 2010! The top tax bracket would… [Read More]
SUPER-BUSY JANUARY MARKET.
The month of January 2010 was a busy real estate month indeed: Brokers babbled about how this weekend’s Open Houses felt more like 2007/2008. How sustainable is this when The White House just announced raised budgets and taxes? Only time will tell. Manhattanites are often similar to Igor in ‘Young Frankenstein’….the world may see the… [Read More]
The Meat Packing District Spreads…..
Is 14th Street becoming chic? If the rumors about the imminent opening of a highly exclusive SOHO HOUSE-style private club are true, it would appear so. The club, THE NORWOOD, will be located in a sensational mid-19th Century Greek revival townhouse and membership will be strictly by invitation only….The club could be an important bridge… [Read More]
Madonna Mansion?
Pop Diva Madonna is back in New York aggressively looking for a grand mansion to house her ever-expanding family. She has been spotted on the Upper East Side looking at some of the grandest townhouses ($30m+). Obviously she is avoiding co-ops after her humiliating Board turn-down at the San Remo at the beginning of… [Read More]
Marth Meier?
It appears that the continued buying spree in the third Richard Meier Tower in the West Village may not be the work of Alexa Stewart, the daughter of Mighty Martha…. Rumor has it Alexa is the name on the deed, but the enormous (and growing) space is indeed for the diva herself, once the… [Read More]