Posted by Leonard Steinberg on August 9th, 2013 Developers always ask the question: what will be the target profile of buyers you imagine will buy in my building? The answer has changed. I learned to adapt my answer many years ago while selling a large building in Tribeca. Anyone would have automatically assumed young families… [Read More]
5 CRITICAL EVENTS THAT WILL TELL US ABOUT THE FUTURE ECONOMY
Posted by Leonard Steinberg on August 7th, 2013 I had a very interesting dinner with two top bankers who truly ‘get it’. When I asked them what they saw happening economy-wise over the next 6 – 12 months, they told me about the five critical events that could help answer this question: Over… [Read More]
IS DOVER STREET MARKET THE NEXT JEFFREY?
Posted by Leonard Steinberg on August 4th, 2013 The uber-chic London-based fashion emporium DOVER STREET MARKET is coming to a rather unexpected neighborhood, located at 160 Lexington Avenue (@30th Street). The 20,000sf store, located in an exceptionally beautiful 1909-built bank building, mingles Comme de Garcons’ various lines with a range of international designer brands for women and men … [Read More]
NEW YORK HAVE’S AND HAVE-NOT’S CO-EXIST
Posted by Leonard Steinberg on August 2nd, 2013 Have you noticed how many buildings that sell very high priced apartments in Manhattan are neighbors to the projects and low income housing, yet co-exist quite perfectly? This phenomenon was highlighted a few years ago when many building in Chelsea started to get built on those blocks… [Read More]
THE TOP 10 REASONS WHY WEST CHELSEA WILL CONTINUE TO SOAR
Posted by Leonard Steinberg on July 28th, 2013 Here are my TOP 10 reasons why West Chelsea has only seen the BEGINNINGS of an upside that will only be fully realized in roughly 7-10 years: 1) A concentration of A-grade architecture that currently includes Jean Nouvel, Annabelle Selldorf, Frank Gehry, Neil Denari, Enrique Norten and… [Read More]
KARTRASHIAN-KANYE GOLD TOILETS: THE NEXT AMENITY?
Posted by Leonard Steinberg on July 24th, 2013 This is really important: for a couple known to be full of it, Kim Kardashian and Kanye West have spent just over $750,000 on four gold-plated toilets for their new Bel Air mansion according to semi-reliable sources. Is the gold toilet the next must-have real estate status… [Read More]
DATA DISGRACE: REALLY BAD INFORMATION
Posted by Leonard Steinberg on July 21st, 2013 This month several real estate company reports were released addressing the 2nd quarter of real estate sales in New York. What astounded me (and surely many consumers) was the huge variance in the reporting. I was shocked how several real estate firms reported flat pricing even though anyone and everyone… [Read More]
ZAHA HADID COMES TO WEST CHELSEA
Posted by Leonard Steinberg on July 16th, 2013 Zaha Hadid, the Pritzker-prize-winning architect is coming to West Chelsea: the 11-story condo building coming to 520 West 28th Street, developed by Related, is perched on a site that was actually quite limiting, according to Hadid, keeping her signature TWA-terminal-esque grand swooshes in check. With two wings of uneven heights,… [Read More]
HOW DOES NEW YORK RATE BUSINESS-WISE?
Posted by Leonard Steinberg on July 10th, 2013 The WALL STREET JOURNAL just posted its rankings for the top states for doing business in the USA, and New York did not fare that well, mostly because of the exorbitant costs for doing business here and….our workforce. New York was ranked # 35 out of the… [Read More]
CAN NEW YORK TEACH PARIS SOMETHING?
Posted by Leonard Steinberg on July 7th, 2013 Everyone keeps asking why New York is so popular with foreigners……and it is. New York welcomes about 47 million visitors annually. The top producing countries for international visitors to New York City in 2011 were the United Kingdom (1,055,000), Canada (1,033,000), Brazil (718,000), France (662,000) Germany (587,000), Australia… [Read More]