Posted on November 24, 2010 by Leonard Steinberg Are Americans un-grateful, using Thanksgiving as a veiled attempt at appearing thankful? Here are some thoughts: 1) We have exited a HUGE recession, somewhat close to a depression within 24 months, and yet everyone is complaining how SLOW the recovery is. 2) Real estate prices,… [Read More]
$ 10,000+ PER SQUARE FOOT HITS NEW YORK MARKET AT 15 CENTRAL PARK WEST
The elusive $ 10,000/square foot price has been reached in Manhattan with the sale of the Zeckendorf’s penthouse at 15 Central Park West. The $ 40million sale of their penthouse marks a turning point in the history of New York real estate pricing. “We have by-passed The Gilded Age, and entered THE PLATINUM AGE,” says… [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]