Posted by Leonard Steinberg on January 12th, 2013 In the coming weeks and months, over 7,000 units of new construction LUXURY apartments will be coming to the market in New York……that is a VAST number of units and will significantly alter the bland inventory landscape we are currently experiencing. While one could argue that the… [Read More]
LEFROY BROOKS COMING TO CHELSEA?
Posted by Leonard Steinberg on January 9th, 2013 Is the fine bathroom fixtures maker, Lefroy Brooks, coming to Chelsea, opening at 134 West 18th St? It appears so.
NEW NEIGHBOR COMING TO THE SOUTH OF ONE MORTON SQUARE
Posted by Leonard Steinberg on January 8th, 2012 A lot to the south of One Morton Square on Leroy Street just closed with plans to construct a boutique hotel on the site…..nice addition to the neighborhood!
2 RENWICK STREET: DEAR SAM CHANG….
Posted by Leonard Steinberg on January 4th, 2013 Dear Sam Chang: I see your long stalled site at 2 Renwick Street, at the corner of Canal, will soon be home to two new hotels designed with your long-time creative partner, architect Gene Kauffman. This development parcel that covers a batch of lots facing Renwick, Canal and Hudson… [Read More]
IS LUXOFLATION SET TO SURGE IN 2013?
Posted by Leonard Steinberg on January 3rd, 2013 Bloomberg reported that the worlds billionaire’s net worth surged in 2012, some by as much as twenty percent. Does this imply a sharp escalation in LUXOFLATION, our measure of the pricing inflation we have identified in the super luxury markets? I think it’s very likely. Already we… [Read More]
HAPPY, HEALTHY 2013 WITH SOME REAL ESTATE LESSONS FROM CAPE TOWN
Posted by Leonard Steinberg in January 1st, 2013 I am blogging from sunny Cape Town, South Africa……my place of birth and still possibly the most beautiful place anywhere…….and while far removed from the concrete jungle of Manhattan, I have learned many lessons, or have been reminded of some from the past……so here goes: 1) Beauty… [Read More]
ARE THE CURRENT TAX LAWS UN-CONSTITUTIONAL?
Posted by Leonard Steinberg on December 18th, 2012 While Washington debates what is rich in the USA (we are up to $ 400k/year now….thats rich with 2 kids in Manhattan?), without any adjustment made for cost of living for the city you live in, no-one seems to want to address the dirty truth of how… [Read More]
SIGNS OF FISCAL CLIFF RICH-TAX SANITY?
Posted by Leonard Steinberg on December 17th, 2012 The Republicans have agreed to raising the tax rates on the rich at last…..the real rich: those earning $ 1million and more per year. At last the definition of wealthy has shifted from a stupid version to a more realistic one. Which idiotic politician truly believed that… [Read More]
ANGER-DRIVEN NEGOTIATIONS
Posted by Leonard Steinberg on November 13th, 2012 As the negotiations between Republicans and Democrats to avert the FISCAL CLIFF heat up, one commentator pointed out that in our beloved system, usually both sides have to walk away from the negotiated deal angry for a deal to be done. In New York real estate, I… [Read More]
LET'S WATCH THEM!
Posted by Leonard Steinberg on December 8th, 2012 In a real estate negotiation when the buyer and seller do not trust what their brokers are saying or doing, it is sometimes wise to get involved and monitor things more closely. I think the time has come for us, the taxpayers, to do the same with… [Read More]