Posted by Leonard Steinberg on May 5th, 2014 Mayor De Blasio today revealed his bold affordable housing plan for New York, aiming to build at least 200,000 units over the next 10 years as opposed to the Bloomberg administration that built about 165,000 units in its 12 years. The plan calls for almost $42 billion… [Read More]
RISING DEVELOPMENT COSTS
Posted by Leonard Steinberg on October 6th, 2013 The other day while speaking at AVENUE’s SCHOOL (what an amazing place!) about the historical re-development of West Chelsea, I was asked why everything in new real estate is so expensive. Greed certainly comes to mind as the obvious answer and that certainly is part of the… [Read More]
IAN SCHRAGER SPEAKS OUR LANGUAGE
At yesterday’s REAL DEAL FORUM Ian Schrager spoke the words that resonate with us most: “There’s always an opportunity for something special and unique.” We couldn’t agree more. And more importantly, we think the vast percentage of real estate developed is so hideously, grotesquely, boringly un-special, it almost deserves to stagnate and be discounted. Unfortunately,… [Read More]
DEVELOPMENT SUFFOCATION: OUT-OF-CONTROL GOVERNMENT BENEFITS?
Why are important projects now unaffordable? This morning the New York Times reports how earlier in the 20th century, when the federal and state governments were much smaller, they had the means to undertake gigantic new projects, like the Interstate Highway System and the space program. But now, when governments are bigger, they don’t. These… [Read More]