Posted by Leonard Steinberg on September 18th, 2013 This week, five years ago, the global financial crisis reached a fever pitch with the collapse of Lehman Brothers. Today the U.S. Federal Reserve is expected to begin its long retreat from ultra-easy monetary policy by announcing a small reduction in its bond buying, while stressing that interest… [Read More]
WEST CHELSEA TO BE ELEVATED BY FOUR FEET
Posted by Leonard Steinberg on September 14th, 2013 As we approach the anniversary of the catastrophic storm Hurricane Sandy, the DOB has passed a new building and zoning code for buildings exposed to the flood zone……the code requires a building in West Chelsea to be elevated by four feet above street level. Already developers, architects… [Read More]
REFLECTING ON 9/11 A DOZEN YEARS LATER
Posted by Leonard Steinberg on September 11th, 2013 Its a dozen years since the horrific attacks of 9/11: since then New York and our world has changed forever, so here are some observations of the effects of 9/11 from a real estate (and human)perspective: 1) SECURITY remains an on-going, daily concern. We are reminded… [Read More]
FASHION WEEK AND NEW YORK CITY REAL ESTATE
Posted by Leonard Steinberg on September 10th, 2013 FASHION WEEK in New York City is a reminder of how important this industry is to the welfare of our city. These fashion shows alone bring in hundreds of millions of dollars in production, venue rental, equipment rental, media, tech, travel and hotel revenue. While the fashion… [Read More]
ZILLOW TO BUY STREETEASY
Posted by Leonard Steinberg on August 19th, 2013 Zillow, the mega-brand national real estate search engine has announced it will be buying STREETEASY for an estimated $ 50 million, the site so many New Yorkers have relied on for all sorts of data brokers used to hold as exclusive domain. Zillow, which has been successful… [Read More]
WHEN THE FED STARTS TO TAPER QUANTITATIVE EASING…..
Posted by Leonard Steinberg on August 19th, 2013 It is a certainty that quantitative easing will be tapered: it is not a question of if, as much as when. It’s a new world for what tapering could mean for the markets as we have no historical benchmark. Is tapering an indication that the economy is improving?… [Read More]
EUROPEAN ECONOMY REBOUNDS: EUROPEAN BUYERS RETURNING TO NYC?
Posted by Leonard Steinberg on August 14th, 2013 It appears the European economy is rebounding: The German and French economies grew faster than the United States in the second quarter, pulling the Euro Zone out of its longest recession. Growth in the 17-country bloc was 0.3 percent from the previous quarter, with its two biggest economies both… [Read More]
TARGET COMING TO WEST CHELSEA!
Posted by Leonard Steinberg on August 13th, 2013 Great news for West Chelsea and New York: Super-cool big-box retailer TARGET is coming to 25th Street between 10th and 11th Avenues. A new concept store will be housed next to super-cool car manufacter TESLA. I guess that makes West Chelsea even more cool than a few… [Read More]
INSANE BEIJING PENTHOUSE REMINDS US OF MANHATTAN ABUSES
Posted by Leonard Steinberg on August 13th, 2013 A Chinese medicine mogul spent six years building his own private mountain peak and luxury villa atop a high-rise apartment block in Beijing, now known as “most outrageous illegal structure.” Authorities have finally stepped in and given hime 15 days to tear it down. The eccentric complex… [Read More]
SHVO NO: ANOTHER GAS STATION SHUTS DOWN IN MANHATTAN!
Posted by Leonard Steinberg on August 12th, 2013 The Getty/Lukoil gas station at the corner of Tenth Avenue and 24th street is no more: sad-faced cab drivers were seen driving away from the site that for decades had been a re-fueling stop as the building prepares itself to be demolished to make way for Michael… [Read More]