Posted by Leonard Steinberg of URBAN COMPASS on August 14th, 2014 The volume of New York residential construction planned over the course of the next three years keeps growing: We are now approaching $50 BILLION worth of new rental and condominium buildings. Here are some recently released statistics: Spending on residential construction will hit a new… [Read More]
MANHATTAN CONSTRUCTION TRAFFIC NIGHTMARE
Posted by Leonard Steinberg on February 13, 2014 Have you noticed recently just how bad the traffic has become in Manhattan? It seems every block has at least 2-3 constructions sites, some even more. These construction sites require bringing in large equipment and trucks that congest and cause traffic chaos. Most have a construction shed… [Read More]
HOUSING CONTINUES TO IMPROVE
Posted by Leonard Steinberg on November 26th, 2013 Housing continues to improve, and for anyone who believes housing is not the key to the welfare of the US economy, think again: Permits for future U.S. home construction hit a near 5-1/2 year-high in October and prices for single-family homes notched big gains in September, suggesting… [Read More]
THE $22 BILLION QUESTION
Posted by Leonard Steinberg on October 7th, 2013 There is lots of chatter surrounding estimates circulating that the volume of Manhattan new construction coming to the market or currently on the market totals over $20 billion. This figure addresses properties planned between now and the next 5 years, and to most this figure is alarming, conjuring… [Read More]
US BUILDING ROARS BACK TO LIFE.
Posted by Leonard Steinberg on October 17th, 2012 As always, the press has just caught on to the fact that construction is experiencing a mammoth surge….it started months ago, but now the data is out with enough hard evidence to prove a point I have been making for quite a while. Groundbreaking on new U.S. homes… [Read More]
MANHATTAN NOISE: IT’S EVERYWHERE!
Posted by Leonard Steinberg on May 21st, 2012 Often buyers wince at the sight of a construction site abutting a building they are considering buying in…..they fear the noise it will produce. They are correct: there will be noise. But don’t for one moment think anyone living in Manhattan is immune to noise. It’s everywhere…. [Read More]
BETTING ON THE ECONOMY….
Posted by Leonard Steinberg on May 4th, 2012 When Warren Buffet speaks, I listen: To-day he said the tepid economic US growth is directly related to the housing market. The minute construction picks up, so too will the economy as construction fuels job growth and spending. Right now I am aware of several thousand new apartments in… [Read More]
JOB CREATION IN NEW YORK CITY BEATS REST OF US.
CRAIN’s reports: After more than a year in which Greenhouse IT couldn’t land a single sales meeting, the company has finally gotten its foot in the door at city businesses over the past three months to pitch its workstation, server and network-management services. “The good news is, companies are ready to talk,” says Simon… [Read More]