Posted on August 15th, 2013 Michael Shvo’s controvercial site (with VICTOR HOMES) for a new condominium in West Chelsea at the corner of Tenth Avenue and West 24th Street has produced a new “first” already (although some may argue that its ‘first’ is being the most-over-paid-for site): THE SHVEDGE….a bank of evergreens forming a hedge that… [Read More]
MOLDY SUBWAY CEILINGS UNDER FIFTH AVENUE!
Posted by Leonard Steinberg on August 14th, 2013 This is what the ceilings of the subway station on Fifth Avenue at 53rd Street look like….not very chic I would say! What is more shocking are the thousands of New Yorkers who pass under this every single day and never look up to see whats lurking above… [Read More]
EUROPEAN ECONOMY REBOUNDS: EUROPEAN BUYERS RETURNING TO NYC?
Posted by Leonard Steinberg on August 14th, 2013 It appears the European economy is rebounding: The German and French economies grew faster than the United States in the second quarter, pulling the Euro Zone out of its longest recession. Growth in the 17-country bloc was 0.3 percent from the previous quarter, with its two biggest economies both… [Read More]
TARGET COMING TO WEST CHELSEA!
Posted by Leonard Steinberg on August 13th, 2013 Great news for West Chelsea and New York: Super-cool big-box retailer TARGET is coming to 25th Street between 10th and 11th Avenues. A new concept store will be housed next to super-cool car manufacter TESLA. I guess that makes West Chelsea even more cool than a few… [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]
SOME THOUGHTS ON OBAMA'S NEW MORTGAGE PLAN
Posted on August 9th, 2013 Obama is finally addressing the need to reform the mortgage world, a lead cause of our current financial woes. In my opinion there should be a mortgage lending requirement that all borrowers must have full health insurance to protect the mortgage lender. Being lent money is not a right, it’s… [Read More]
BABY BOOMERS KEEP MOVING TO CITIES
Posted by Leonard Steinberg on August 9th, 2013 Developers always ask the question: what will be the target profile of buyers you imagine will buy in my building? The answer has changed. I learned to adapt my answer many years ago while selling a large building in Tribeca. Anyone would have automatically assumed young families… [Read More]
5 CRITICAL EVENTS THAT WILL TELL US ABOUT THE FUTURE ECONOMY
Posted by Leonard Steinberg on August 7th, 2013 I had a very interesting dinner with two top bankers who truly ‘get it’. When I asked them what they saw happening economy-wise over the next 6 – 12 months, they told me about the five critical events that could help answer this question: Over… [Read More]
IS DOVER STREET MARKET THE NEXT JEFFREY?
Posted by Leonard Steinberg on August 4th, 2013 The uber-chic London-based fashion emporium DOVER STREET MARKET is coming to a rather unexpected neighborhood, located at 160 Lexington Avenue (@30th Street). The 20,000sf store, located in an exceptionally beautiful 1909-built bank building, mingles Comme de Garcons’ various lines with a range of international designer brands for women and men … [Read More]
NEW YORK HAVE’S AND HAVE-NOT’S CO-EXIST
Posted by Leonard Steinberg on August 2nd, 2013 Have you noticed how many buildings that sell very high priced apartments in Manhattan are neighbors to the projects and low income housing, yet co-exist quite perfectly? This phenomenon was highlighted a few years ago when many building in Chelsea started to get built on those blocks… [Read More]