Posted by Leonard Steinberg on January 8th, 2012 Walking up and down the streets of Manhattan I am amazed at the volume of deceased Christmas trees that were once alive and thriving lined up amongst the garbage heaps waiting to be carted off after producing a few weeks of gratification in the form of a… [Read More]
STRONG NEW YORK OPEN HOUSE ATTENDANCE – SERIOUS, VERY EDUCATED BUYERS EMERGE (MANY WITH KIDS).
Posted by Leonard Steinberg on January 8th, 2012 I have just returned from Manhattan Sunday open houses…..the first official weekend of the New Year is always an indicator to me as to how strong or weak the first half of the year will be……and things looked good. The volume of buyers was not huge, although… [Read More]
BANKS POISED FOR DISMAL FOURTH QUARTER RESULTS: BAD FOR NEW YORK?
Posted by Leonard Steinberg on January 7th, 2012 Banks will start posting results for the fourth quarter and year end starting next week, and the results are poised to be weak. Weak results result in many things, so here is my evaluation: 1) Bonuses will probably be down rather sharply from last year, I… [Read More]
CITY POLLUTION: 10 REASONS WHY NEW YORK POLLUTION WILL IMPROVE DRAMATICALLY.
Posted by Leonard Steinberg on January 6th, 2012 The Chinese government announced to-day that they will start to report pollution levles more accurately: if you thought Los Angeles or Denver were bad, you should see Beijing! The explosive 10%+ per year growth combined with 20 million inhabitants and antiquated technologies is producing one of the world’s… [Read More]
JOBS IMPROVING: QUITTERS OUTNUMBER FIRES
Posted by Leonard Steinberg on January 6th, 2012 Some good news from the jobs market……while everyone is rambling on about the big numbers, one of the most important indicators, the disparity between those quitting voluntarily because of better job opportunities and those being fired has improved and now the quitters out-number those fired. In Manhattan,… [Read More]
Posted by Leonard Steinberg on December 22nd, 2011 New York will draw more than 50 million visitors by the end of 2011 — a record for the city, Mayor Michael Bloomberg announced yesterday. “While playing host to the world isn’t new for us, the number of visitors we’re welcoming in recent years is new,” Bloomberg said… [Read More]
R I C H – THE MOST MIS-USED FOUR LETTER WORD OF 2011
Posted by Leonard Steinberg on December 22nd, 2011 The word RICH has to be one of the most used words of 2011….it also happens to be a four letter word. Just like the word LUXURY, it also has to be the most mis-used word, although in this lie many similarities. What is rich? What is… [Read More]
FROM RUSSIA WITH LOVE: 15 CENTRAL PARK WEST SELLS FOR $ 88 MILLION, OR $ 13k/sf)
Posted by Leonard Steinberg on November 21st, 2011 Christmas is almost upon us but some really good girls have had a visit from Santa a wee bit early: The 22-year-old daughter of Russian billionaire Dmitriy Rybolovlev received an $88 million penthouse condominium located at 15 Central Park West in her stocking from her daddy — the most expensive residential transaction… [Read More]
LUXURY TREND? WALL STREETERS BECOMING ENTREPRENEURS?
Posted by Leonard Steinberg on December 21st, 2011 Has anyone noticed how many ex Wall Streeters are turning to the markets to create new ventures and businesses? I have heard some who have lost jobs hopeless about their chances of re-creating their past positions or income and others who were just tired of the rat-race…. [Read More]
THE 'TAXES' THAT, IF REDUCED, COULD BOOST OUR ECONOMY MORE THAN ANY OTHER
Posted by Leonard Steinberg on December 21st, 2011 There are certain essential expenses that Americans incur that are a form of taxation…..Here are two examples: GAS: The average American spends over $ 4,100/year on gasoline…..thats over 8% of their income! Now thats quite a tax. Gas prices are artificially high because of OPEC’s ability to… [Read More]