International Investor buyers have set their sights on the U.K, especially London, post the BREXIT vote, which may explain why some of these investors are missing in the New York real estate market right now. We recently conducted a (very un-scientific) survey of international investor buyers: the depressed sterling currency combined with political fears have… [Read More]
New York’s Ultimate Trophy: The Double-Wide Multi-Million-Mansion
The ‘double-wide’ is a term most used in American trailer parks, yet in Manhattan the super-rich love their ‘double-wide’s’ too…. and sometimes their ‘triple-wides’! Usually adjoining townhouses are combined to create multi-million-mansions. When it comes to City townhouses, width is everything. The space needs of the very wealthy are different: most individual townhouses measure up… [Read More]
TECH TSUNAMI – Massive generational shift at retail
The retail world is in the midst of experiencing the biggest shift in its history. This week while traditional bricks-and-mortar retail stocks were beaten up, many stocks losing double-digit valuation, one stock’s record high price probably answered the question ‘why?’ perfectly: AMAZON. The on-line retailer with over 60 million subscribers to is “prime membership” program… [Read More]
Artificial Intelligence?
Are New York Quarterly reports delivering Artificial Intelligence? Yesterday’s (April Fool’s Day) First Quarter Manhattan real estate market reports touted radical home price escalations just as the entire real estate industry is adjusting to a ‘new normal’ comprised of slower absorption, adjusted asking prices and more negotiability. This further highlights just how severely quarterly reports… [Read More]
Trump marketing observations
Posted by Leonard Steinberg on March 26th, 2016 Donald Trump has made a spectacular ascent to power. His marketing methods are in many ways a reflection of the shifting trends of our society in general and new marketing methods employed by some. This essay is in no way an endorsement or denouncement of any… [Read More]
ECONOMIC BENEFITS 432 PARK AVENUE
The economic benefits of 432 Park Avenue, New York, the much-hyped Manhattan Mega-Tower in the Midtown Cultural District are enormous: Units have just started to close. Too many have vilified the buyers of these uber-expensive apartments marginalizing their contribution to the City. The economic impact of this building is massive and here is a breakdown of what… [Read More]
Compass Markets
Posted by Leonard Steinberg, President of COMPASS, on Saturday, October 23rd, 2015 This week was a HUGE moment for Compass as we launched COMPASS MARKETS, the first ever real-time market reporting/analysis thats available in the palm of your hand via a mobile APP, instantly, anywhere in the world. This Compass Markets APP is truly revolutionary, and we… [Read More]
THE SILVER SPOON GENERATION
Posted by Leonard Steinberg, President of COMPASS, on July 2nd, 2015 The Greatest Generation is in the midst of transferring massive amounts of wealth to their baby boomer kids (and grandkids), the largest generational transfer of wealth in history……to date. This is happening simultaneously to the beginnings of an even larger wealth transfer from Baby… [Read More]
REAL TRENDS WALL STREET JOURNAL TOP 1000 AGENTS
Posted by Leonard Steinberg, president of COMPASS on June 28th, 2015 A huge CONGRATULATIONS to all my fellow colleagues who were listed on the Real Trends TOP 1000 Agents in the Wall Street Journal yesterday: everyone on these lists should be extremely proud of their achievements considering they are in the Top 0.00125% of all… [Read More]
Broker’s fiduciary duty means putting clients first.
Posted by Leonard Steinberg, President of Compass, on June 24th, 2015 This week COMPASS enacted a new policy that I think is truly historical: for the first time it gives real estate agents the respect I think they are entitled to. When a client hires an agent, most times they don’t realize that if that… [Read More]