Posted by Leonard Steinberg on March 31st, 2012 Forty years ago, zoning laws were enacted in New York permitting joint live/work quarters for artists who were certified by the New York City Department of Cultural Affairs. They were necessary to protect the remaining manufacturing uses as well as artists who occupied vacant or underutilized buildings… [Read More]
CATCH-UP!
Posted by Leonard Steinberg on March 26th, 2012 This morning Ben Bernanke spoke on the subject of the economy: his conclusion was that the improving employment and growth figures were a product of CATCH-UP. We can see the same thing clearly happening in the luxury Manhattan real estate market. The above picture shows a line… [Read More]
SUPER LUXURY MANHATTAN MARKET SOARS – 815 FIFTH AVENUE PROVES IT.
Posted by Leonard Steinberg on March 24th, 2012 We just listed a $ 25million townhouse at 815 Fifth Avenue, a rarity if there ever was one. A little over 25 ft wide, with over 11,000sf, we suspect it will be bought by someone anxious to transform it to a single-family mansion. Already multiple parties are… [Read More]
DOES THE "CORZINE RULE" INSPIRE "THE PINOCCHIO RULE" IN REAL ESTATE?
Posted by Leonard Steinberg on March 23rd, 2012 The recently proposed regulatory legistlation (The Corzine Rule) to be named after Mr. Corzine because his firm MF Global still cannot find where a few billion dollars went ‘missing’ made me think that maybe its time for us in the real estate industry to name some brokerage rules… [Read More]
FEEDING FRENZY ON WEST 20th STREET? AFFORDABLE WEST CHELSEA HOUSING?
Posted by Leonard Steinberg on March 20th, 2012 Is the ‘affordable’ market being ignored Downtown? It appears so. I have heard that over 600 people have already pre-registered to buy at the Brodsky developed Condop building across from the exquisite Seminary at 422 West 20th Street….and while the pricing is extremely attractive, just a bit… [Read More]
REVISITING PREVIOUS 'PASSES'…..
Posted by Leonard Steinberg on March 20th, 2012 Is a new trend emerging whereby ultra-fussy buyers who had passed on properties they visited some time ago return and re-visit with a new, fresh, less critical set of eyes? I see this happening right now in a few instances. Some buyers in the luxury real estate… [Read More]
FORAGERS CITY GROCER COMES TO WEST CHELSEA
Posted by Leonard Steinberg on March 19th, 2012 Foragers City Grocer has opened in West Chelsea! And what a great addition to the area it is, certainly a welcome respite from the vulgar Gristede’s on Ninth Avenue and the rather generic Whole Foods on Seventh Avenue. It’s a high-quality market, somewhat similar to a Citarella… [Read More]
DO YOU PAY $ 55/MONTH FOR RENT?
Posted by Leonard Steinberg on March 17th, 2012 Do you pay $ 55 per month for rent? Probably not. In this morning’s New York Post, a pensioner proudly boasts how he does in fact pay $ 55/month in rent. Why? Because he is entitled to that rent….and you are not! It’s called rent regulation, a law… [Read More]
FINAL SECTION 3 OF HIGH LINE PARK PLAN REVEALED
Posted by Leonard Steinberg on March 17th, 2012 At Monday night’s Community Board meeting, Friends of the High Linee released the initial design plans for the third and final section of the High Line Park at the Hudson Rail Yards. This third section will connect the West Village/Meatpacking District to West Chelsea and ultimately take you… [Read More]
THE GOLDMAN SACHS MESSAGE
Posted by Leonard Steinberg on March 15th, 2012 Yesterday’s New York Times OP-ED by departing Goldman Sachs executive Greg Smith seemed to cause a bit of a storm throughout the Wall Street banking community: could it be true that one of the worlds most successful financial institutions puts itself before its clients? This question is… [Read More]