Posted on November 23rd, 2011 by Leonard Steinberg. In to-day’s Wall Street Journal it is reported that over the next 20 years, some $25 trillion will be passed to women through divorce, death of spouse or inheritance. Women already make up just under half of the nation’s millionaires. Combined with their growing earning and wealth-creation power,… [Read More]
WALL STREET UN-OCCUPIED: IS 2011 THE YEAR OF EXTREMISM?
Posted by Leonard Steinberg on November 22nd, 2011 The news is out: Wall Street is shrinking with more than 200,000 jobs lost in the global financial-services industry this year, eclipsing 174,000 in 2009, according to a report by Max Abelson of Bloomberg. (That’s a lot of potential real estate buyers and renters). Wall Street rebounded from… [Read More]
OCCUPY WASHINGTON DC? THE PEOPLE ARE ANGRY!
Posted by Leonard Steinberg on November 19th, 2011 As our beloved government teeters on the edge of another major meltdown with the ‘super-committee’ due to formulate a solution to our budget crisis by the middle of next week (something that could cause radical ramifications throughout the markets, especially the credit markets…. think housing), maybe its… [Read More]
ONE 57: THE LATEST ADDITION TO THE UBER-LUXURY MANHATTAN MARKET
Posted by Leonard Steinberg on November 19th, 2011 The other night I was invited to the launch of EXTELL’s newest addition to the New York skyline, One 57, the Christian de Portzamparc-designed 90 story, 1,000ft tall Tower located at 157 West 57th Street between 7th and 8th Avenues. Towering above the Time Warner Center, Trump’s One Central… [Read More]
GINGRICH FOR PRESIDENT: REPENT FOR YOUR ROLE IN THE US HOUSING BUST!
Posted by Leonard Steinberg on November 19, 2011 Republican presidential candidate Newt Gingrich, certainly one of the most eloquent, informed and intelligent of all the Republican candidates, is now embroiled in a rather major embarrassment: After consistently and repeatedly blaming Freddie Mac and Fannie Mae for the Housing Bust that still wreaks havoc on our economy,… [Read More]
APARTMENT AUCTION AT 225 FIFTH AVENUE, THE GRAND MADISON.
Posted by Leonard Steinberg on November 18th, 2011 Last night I attended the auction of a park facing apartment at the Grand Madison located at 225 Fifth Avenue once owned by an ex Credit Suisse employee whose new home is a lot less elegant…. The 9th floor, approximately 1,600+sf apartment featuring 2 bedrooms and substantial… [Read More]
CHELSEA'S WALKER TOWER AT 212 WEST 18th STREET COMES TO LIFE
Posted by Leonard Steinberg on November 14th, 2011 The Verizon building known as Walker Tower, located at 212 West 18th Street, just west of Seventh Avenue between 17th and 18th Street is in the process of being converted to a high end condominium. 55 residences with exceptional views and superb 12ft+ ceiling heights will sit… [Read More]
THE NEW YORK TIMES MISSES THE STORY ON REAL ESTATE TAXES (AGAIN!)
Posted by Leonard Steinberg on November 13th, 2011 In today’s real estate section of the New York Times, the cover article addresses the subject of expiring tax abatements that result in monthly taxes on new buildings that are super-high. In my opinion, this article does not get the story right and misses some very important points: Real estate… [Read More]
TIME FOR A HOUSING TRUTH AND RECONCILLIATION COMMISSION?
Posted by Leonard Steinberg on November 7th, 2011 Mayor Bloomberg recently passed most of the blame for the Housing crisis on Congress. Occupy Wall Street is blaming Wall Street. I grew up in South Africa in the 60’s and 70’s, a time when the country was plagued by a host of sins. was a court-like… [Read More]
HERMES SALES RISE 18.2%: SUPER-LUXE IS STRONGEST
Posted on November 7, 2011 So you thought the world’s luxury market was in trouble? Think again. French luxury group Hermes raised its full-year sales forecast on Friday after third-quarter growth beat its initial target, pulled by buoyant demand for the 174-year-old brand in Europe, the Americas and Asia. The maker of 10,000-euro leather bags… [Read More]