REAL ESTATE TAX ROBBERY: THE MOST CORRUPT TAX SYTEM IN THE WORLD?

Posted by Leonard Steinberg on February 27th, 2013 The overly corrupted, inequitable real estate structure of New York reveals further evidence now to showcase just how bad the situation is:  Did you know that Class 1 (single family) properties in Manhattan have gone up over 37% since 08 yet Brooklyn’s Class 1 properties increased only slightly since 08,… [Read More]

JEAN GEORGE’S PERRY STREET RESTAURANT RE-OPENS POST SANDY

Posted by Leonard Steinberg on February 19th, 2013 PERRY STREET, the ultra-cool, chic + sleek, Thomas Juul Hansen-designed West Village Jean Georges restaurant, re-opened tonight after undergoing extensive renovations and repairs as a result of SANDY, the hurricane that caused flooding in lower Manhattan in late 2012. The place looked exceptional and the food was… [Read More]

BIG DEALS ARE BACK!

Posted by Leonard Steinberg on February 15th, 2013 Wall Street is still reeling from the re-birth of the BIG DEAL, where this week Warren Buffet and a Brazilian group swooped in to buy out HEINZ. Similar confidence in the BIG DEAL is being seen in the New York luxury real estate market where big players… [Read More]

MORE PROOF OF LUXOFLATION: HERMES FOURTH QUARTER SALES SOAR 22%

Posted by Leonard Steinberg on February 11th, 2013 Hermes posted its 4th quarter results for 2012: the maker of uber-luxury, hyper-priced fashion goods and accessories showed sales increased 22%. Rolls-Royce has achieved its best sales in its 108-year history, with the world’s mega-rich buying up 3,575 Phantom and Ghost models during 2012. More evidence that the… [Read More]

STATE OF THE UNION: RENEWABLE ENERGY IS CHEAPER IN AUSTRALIA!

Posted by Leonard Steinberg on February 10th, 2013 In the wake of soaring temperatures that made it impossible for some residents  in the Australian outback to pump gas, really good news is coming to the energy market….just in time for Obama’s State of the Union Address possibly where the likelihood of green energy talk is almost… [Read More]

THE NEXT BIG THING IN NEW DEVELOPMENT – AutoClose?

Posted by Leonard Steinberg on February 9th, 2013 We just started marketing 150 CHARLES STREET, and to say the response to the building is overwhelming would be a complete under-statement: I am stunned that there are so many buyers with so much money anxious to commit to a floorplan and renderings and wait over 2… [Read More]

NO DOWNPAYMENT MORTGAGES – THEY'RE BRINGING STUPID BACK?

Posted by Leonard Steinberg on February 6th, 2013 Is the stupidity that helped cause the previous recession returning? It appears so, although this time no downpayment mortgages will initially only be available to the wealthy.  It’s 100% financing—the same strategy that pushed many homeowners into foreclosure during the housing bust. But Banks say these loans… [Read More]