Posted by Leonard Steinberg on April 23rd, 2012 The 4,675 sf Jean Nouvel penthouse at 100 11th Ave. staged by Aimee Scher has closed for $ 19,4m ($ 4,149/sf). That’s 1/3 the price per square foot of 15 Central Park West’s penthouse making it a relative bargain. With 4,412sf of terraces and unrivalled views: West Chelsea continues… [Read More]
NEW WHITNEY MUSEUM TO BRING AT LEAST 300,000 VISITORS ANNUALLY
Posted by Leonard Steinberg on December 6th, 2011 The opening of the Crystal Bridges Museum of Art in Bentonville Arkansas reminded me of the power a strong art museum has in attracting the crowds…. The Whitney Museum currently attracts 300,000 visitors annually to its uptown location. When the new Whitney opens on the West Side… [Read More]
BRACE YOURSELF: IS LUXE-HYPER-INFLATION AROUND THE CORNER?
Posted by Leonard Steinberg on December 19, 2010 Downtown New York residential real estate inventories are now approaching the levels of 2005…..does this equate to the beginnings of a shortage? With new construction having ground to a virtual halt over the past 2 years, we should not expect any brand new DELIVERABLE quality ultra-luxury apartments for… [Read More]
IS THERE REAL LUXURY? OR IS IT JUST A BIG CON?
In this morning’s Financial Times, Aswath Damodaran, the NYU business school professorwho moonlights as the guy who teaches Goldman Sachs trainees about how to value companies, said he defined luxury as an industry that has figured out how to leave people feeling good about being suckered. He also said you can’t value luxury; it’s in the… [Read More]
MAJOR MANHATTAN SKYLINE CHANGES COMING?
It is now certain that within the next 10 years, the Manhattan skyline will look very different. Plans for a spate of significant high rise buildings appear to be moving forward now as the economy slowly un-locks. Developers are readying two residential towers that will rise above most of Midtown. The massive mixed-use development planned… [Read More]
200 ELEVENTH AVENUE EXPOSED
The scaffolding and netting are finally coming down on West Chelsea’s most eagerly anticipated building, the Annabelle Selldorf designed 200 Eleventh Avenue. Developed by Urban Muse and Young Woo & Associates, this is the first residential building to be completed facing Chelsea Cove, the new 9 acre park just north of Chelsea Piers. The building… [Read More]
ELEVENTH AVENUE: THE FIFTH AVENUE OF THE WEST?
100 Eleventh Avenue has closed on several more units as it approaches completion, including to some of the City’s most fabulous of the fabulous crowd…..Richard Pandiscio and Richard Rogers son Roo Rogers with his wife Bernadine Huang owner of OZOCAR, the city’s first car rental company with super-efficient hybrid cars. Also living on Eleventh Avenue:… [Read More]