Posted by Leonard Steinberg on June 17th, 2014 Today word spread that another billionaire swept in to buy the French government owned duplex at 740 Park Avenue for many millions over the asking, supposedly $70 million….for a co-op….that needs renovation work. Can only billionaires pay these prices? I have found over the past few years… [Read More]
WHY DO BILLIONAIRES AND OLIGARCHS BUY MANHATTAN APARTMENTS?
Posted by Leonard Steinberg on January 3rd, 2014 The subject of Russian oligarchs and Chinese billionaires buying $ 20m+ apartments has reached a fever pitch: many New Yorkers are OUTRAGED that we do not impose some form of punishment to these people for buying here. It is probably true that some of these buyers earned… [Read More]
AN EDITORIAL THAT ENCOURAGES BUILDING MORE FOR BILLIONAIRES
Posted by Leonard Steinberg on November 21st, 2013 Matthew Yglesias posted this editorial on SLATE.com and I thought you should read it: In it lies some wisdom that many should read (whether we like it or not). A billionaire might be anywhere at any time, riding away on his private jet. But for day-to-day purposes, 30… [Read More]
GLOBAL WEALTH FACTS – THE FUTURE OF THE LUXURY MARKET LOOKS BRIGHT – NEW YORK WEALTHY TO RISE 36%
Posted by Leonard Steinberg on March 6th, 2013 For anyone wondering about the longterm future of wealth in the world and especially New York, here are some facts to ponder: Over the next 10 years, New York will see a rise of 36% of High Net Worth Individuals, those with assets above $ 30million……does that… [Read More]