Posted by Leonard Steinberg of COMPASS on April 12th, 2015 A recent visit to the highly anticipated new mall at BROOKFIELD PLACE left me cold: Granted the designers inherited some rather bland architecture to begin with, but what they have done with it is truly disappointing. Nothing about this mall is much different or enticing… [Read More]
FROM THE 'IT-BUILDING' TO THE 'I-BUILDING'
Posted by Leonard Steinberg, president of Compass, on March 21st, 2015 New Yorkers like to think of themselves as innovative, individualistic and original: unfortunately many of them often follow trends like a herd of sheep. An article in this weekends Wall Street Journal showcases how a world once possessed by owning an Hermes Kelly bag,… [Read More]
SUBURBANIZED CITY
Posted by Leonard Steinberg, president of COMPASS, on March 14th, 2015 Traditionally, couples who lived in New York City migrated to the suburbs, or at least to the Upper East Side, to raise a family. This has changed drastically over the past decade. With the gentrification of Downtown neighborhoods, schools, parks, services, amenities and property… [Read More]
RENTERS BEWARE: RENTS COULD SPIKE UP AS INTEREST RATES RISE
Posted by Leonard Steinberg, president of COMPASS, on March 7th, 2015 As unemployment figures continue to drop, the likelihood of rising interest rates strengthens……and this may cause a spike in pricing as buyers rush to buy to capitalize on the current low (but rising) interest rates. Rising prices may force some to turn to renting,… [Read More]
NEW YORK’S $2,500/sf STORAGE ROOM AND $3,500/sf WINE ROOM.
Posted by Leonard Steinberg of COMPASS on March 5th, 2015 New records are about to be set in New York City: At the much-anticipated 83-unit 220 Central Park South designed by Robert A.M. Stern, storage rooms will be priced starting at $111,000 for 44 square feet ……or $ 2,522/sf. This number was very recently associated with… [Read More]
MEDIA OBSESSION WITH THE ULTRA-RICH DIMINISHES THEIR STATURE
Posted by Leonard Steinberg, President of COMPASS, on February 21st, 2014 Everyone should read this well written article by Stephen Smith that highlights the absurd obsession with the mega-wealthy who constitute a fraction of a percentage of all real estate transactions. All writers and editors should take note of this article to see how… [Read More]
ATTAINABLE LUXURY IS NOT NECESSARILY AFFORDABLE
Posted by Leonard Steinberg, President of COMPASS, on February 19th, 2015 Each morning I start the day by writing a letter to my company on a topic of interest. I thought I would share this morning’s, all about the emerging “Affordable Luxury” market that I feel should be termed ATTAINABLE LUXURY. After all, what is… [Read More]
HAS THE LUXURY-REAL-ESTATE SUPER-YACHT SAILED?
Posted by Leonard Steinberg of COMPASS on February 17th, 2015 Property price escalations have soared over the past few years in cities such as London, Miami, Aspen, Beverly Hills and New York, in some areas coming off lows caused by the GREAT RECESSION: Many of the super-wealthy are now asking whether its realistic that pricing escalation… [Read More]
WILL THE HOME BATTERY BE THE NEXT 'MANHATTAN-MUST-HAVE' HOME AMENITY?
Posted by Leonard Steinberg of COMPASS on February 13th, 2015 Elon Musk, the James-Bond-sized leader (and fellow South African)behind TESLA, announced that he will be introducing a HOME BATTERY to the market in the next few months, a devise we assume will be akin to a home generator. While Tesla is a car manufacturer, it… [Read More]
URBAN COMPASS LANGUAGE
Posted by Leonard Steinberg on February 7th, 2015 Since joining URBAN COMPASS 8 months ago, we have developed a marketing language that has become contagious: It has spread like wildfire throughout the real estate industry here and everywhere and it is something I am most proud of. People are talking in New York, Miami, Los… [Read More]