Posted by Leonard Steinberg on June 15th, 2014 Yesterday while touring the magnificent HUDSON WOODS development in the Catskills, a simply beautiful 130-acre development of DWELL-editorial-quality homes designed by Drew Lang and represented by James Cox and Frank Giordano of URBAN COMPASS, I spotted something that could be part of the solution to the turmoil that… [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]
DOW 17,000: REPEATING THE MISTAKES OF THE GREAT RECESSION?
Posted by Leonard Steinberg on June 9th, 2014 As the DOW approaches the 17,000 mark, many are asking whether we are experiencing a repeat of the 2006-2008 bubble? One driving aspect of the financial crisis of 2008 was the volume of over-valued property loans held by banks. Loans secured by real estate typically make up… [Read More]
560 WEST 24th STREET – WE LOVE THIS BUILDING!
Posted by Leonard Steinberg on June 7th, 2014 I cannot help but gush over this exquisite building currently under construction in the heart of West Chelsea: Its location is superb, perched aside 200 Eleventh Avenue across the street from Gagosian Gallery, between the Hudson River Park and the Highline Park, around the corner from AVENUE’S SCHOOL…..and… [Read More]
$500,000 for 15 CAMERAS: GOVERNMENT AT ITS VERY WORST?
Posted on June 4th, 2014 by Leonard Steinberg After the horrific stabbing of 2 young kids in the public housing buildings Boulevard Houses, Mayor De Blasio spoke up about the inefficiency of government to install cameras which are an outstanding deterrent and effective tool to capture perpetrators of such awful crimes. A $500,000 contract for… [Read More]
THE BEGINNING OF A NEW CHAPTER
Posted on June 2nd, 2014 Dear Friends: Today marks a historic day as I begin my role as President of URBAN COMPASS. We have always been at the forefront of the New York Real Estate industry, always with an eye towards the future of real estate: in URBAN COMPASS we see the future. URBAN COMPASS… [Read More]
IS EXECUTIVE PAY A BARGAIN COMPARED TO CELEBRITY PAY?
Posted by Leonard Steinberg on May 28th, 2014 Todays revelation of executive pay shows how much top executives earn, and already the cries of outrage are being heard. The divide between the top earners and the average earners in a company is growing, yet the divide between those that are often responsible for the livelihoods of… [Read More]
THE DEMISE OF CRESTRON: WILL APPLE CONTROL YOUR HOME?
Posted by Leonard Steinberg on May 27th, 2014 Apple, the creator of all things cool and simple-to-use, is planning to introduce a smart home concept at its upcoming Worldwide Developers Conference, according to The Financial Times. The company is planning to showcase a system that lets users control their lights, appliances and security systems with their… [Read More]
FIRST TIME HOME BUYERS DWINDLE HIGHLIGHTING INFLATION FARCE
Posted by Leonard Steinberg on May 25th, 2014 First-time buyers are a diminishing sector of the housing market and now account for about 16% of new-home purchases, down from 25% – 28% between 2001 and 2007, according to the National Association of Home Builders. In the existing-home market, first-time buyers accounted for 29% of purchases in April:… [Read More]
BROKER ETHICAL STANDARDS
Posted by Leonard Steinberg on May 24th, 2014 I am always impressed by the public emphasis real estate leaders place on honesty and strong ethics in the real estate industry: I am nevertheless ceaselessly disappointed in how poorly these ethics are policed. The silence is deafening. And silence is the equivalent of an endorsement of bad behavior… [Read More]