Posted by Leonard Steinberg, president of URBAN COMPASS, on January 6th, 2015 Is 2015 going to be the year of the AMERICAN Oligarch? Rolls-Royce Motor Cars reported more car deliveries in 2014 than ever before in its 111-year history, marking the fifth consecutive annual sales record for the ultra-luxury brand, according to Bloomberg. The company sold… [Read More]
NUMBER OF US MILLIONAIRE HOUSEHOLDS RISES 18%, CHINA UP 82%!
Posted by Leonard Steinberg on June 11th, 2014 For anyone worried that there may not be enough buyers for luxury New York apartments, take a deep breath. The Boston Consulting Group has determined that the number of millionaire households in the US grew by 18% last year from 2012. The total number of millionaire households in… [Read More]
THE ROLLER COASTER 2000's
Posted by Leonard Steinberg on February 16th, 2014 The world keeps asking “what’s next?” With over 20,000 high priced apartments currently under construction, that is a fair question. Many Manhattan developers who very recently talked about $ 2,000/sf are now talking $ 3,000/sf. “DUBAI 57”, the 57th Street corridor that looks a wee bit like… [Read More]
GLOBAL WEALTH REACHES ALL TIME HIGH
Posted by Leonard Steinberg on October 8th, 2013 In the on-going debate about the depth of buyers for the $ 22billion worth of inventory coming to the New York residential real estate market, I thought it wise to evaluate wealth in general…..and luckily a Credit Suisse Report on the subject hit my desk this morning…. [Read More]
INSANE BEIJING PENTHOUSE REMINDS US OF MANHATTAN ABUSES
Posted by Leonard Steinberg on August 13th, 2013 A Chinese medicine mogul spent six years building his own private mountain peak and luxury villa atop a high-rise apartment block in Beijing, now known as “most outrageous illegal structure.” Authorities have finally stepped in and given hime 15 days to tear it down. The eccentric complex… [Read More]
WILL THE BRAZILIAN AND CHINESE BUYERS ABANDON NEW YORK?
Posted by Leonard Steinberg on June 25th, 2013 The chatter of bad economic news coming from Brazil and China recently leads to the question: will Chinese and Brazilian buyers who have helped fuel a notable uptick in activity and pricing in the Manhattan luxury market disappear and how will that affect our real estate market? I… [Read More]
CAN UNREGULATED GROWTH KILL?
Posted by Leonard Steinberg on January 4th, 2013 While we tend to complain about the quality of air in New York, many things are being done that are truly effective in reducing harmful emissions. Aside from the electric hybrid busses, converting building boilers away from that black smoke belching oil, hybrid government vehicles, etc some… [Read More]
OCCUPY WALL STREET: EAST SWITCHES WITH THE WEST?
Posted by Leonard Steinberg on MAYDAY, 2012 Mayday celebrations re-kindled the fuel of Occupy Wall Streeters to-day and it made me wonder: Is Western society becoming more socialist in its thinking while traditional communist countries embrace capitalism? China, Russia, Georgia and other traditionally communist countries are thriving with a capitalist spirit that is elevating millions… [Read More]