Posted by Leonard Steinberg on February 16th, 2014 The world keeps asking “what’s next?” With over 20,000 high priced apartments currently under construction, that is a fair question. Many Manhattan developers who very recently talked about $ 2,000/sf are now talking $ 3,000/sf. “DUBAI 57”, the 57th Street corridor that looks a wee bit like… [Read More]
MANHATTAN CONSTRUCTION TRAFFIC NIGHTMARE
Posted by Leonard Steinberg on February 13, 2014 Have you noticed recently just how bad the traffic has become in Manhattan? It seems every block has at least 2-3 constructions sites, some even more. These construction sites require bringing in large equipment and trucks that congest and cause traffic chaos. Most have a construction shed… [Read More]
MELANIE LAZENBY WINS DOUGLAS ELLIMAN’S TOP PRODUCER AWARD
Posted by Leonard Steinberg on February 13th, 2014 Dolly Lenz has been de-throned: A big CONGRATULATIONS to Melanie Lazenby, who was announced as the NUMBER ONE broker at Douglas Elliman’s real estate awards event last night (The Ellie’s) at CIPRIANI by Howard Lorber. Breathtakingly beautiful Melanie sold the most expensive condominium in 2013 at 18… [Read More]
OBAMACARE GOOD FOR LUXURY REAL ESTATE?
Posted by Leonard Steinberg on February 7th, 2014 Is it possible that OBAMACARE could be good for the high end of luxury real estate in New York? This week it was revealed that the overall level of labor will fall by 1.5% to 2% over the decade, not merely by 800,000, according to the Congressional Budget Office… [Read More]
THE SARABETH EFFECT
Posted by Leonard Steinberg on February 7th, 2014 Have you noticed the effect that eponymous cafe SARABETH’S is having on certain neighborhoods? It all started on the Upper West Side in 1981, the bastion of ‘family-living’……a cafe/bakery that presented the home cooked and baked experience. The store started out as a bakery and jam shop, where… [Read More]
WEST CHELSEA RIVERFRONT SITE SELLS FOR $ 714/sf
Posted by Leonard Steinberg on February 2nd, 2014 The Atlantic Foundation, a nonprofit funding group founded by an heir to the Johnson & Johnson fortune, has sold a development site at 540 West 21st Street in West Chelsea for $50 million, or about $714/sf to Casco Development Corp, which is controlled by a foreign real estate investor… [Read More]
FROM INSTAGRAM TO INSTA-ART?
Posted by Leonard Steinberg on February 2nd, 2014 February’s REAL DEAL reports on our INSTAGRAM event where we printed and framed 49 Instagram shots from our account ‘luxury_loft_team’ as “INSTA-ART” to stage an apartment (a New York first?): Social media meets society? http://therealdeal.com/issues_articles/social-media-becomes-the-latest-staging-tool/
NEW DEVELOPMENT DESIGN DIRECTION 2014
Posted by Leonard Steinberg on January 25th, 2014 Many developers are in a quandary: what is the ‘next’ design direction and how do you deliver this without taking on too much risk. In the last few years we have seen new adjectives emerge in the different styles of finish-out……here are some: 1) Richard Meier-esque:… [Read More]
TWITTER MOVES TO CHELSEA
Posted by Leonard Steinberg on January 24th, 2014 Twitter is coming to Chelsea, joining Google as the two most important tech companies in the area. Their 141,000 square-foot new base is just one block from Google on Eighth Avenue. The buildings used to be wagon warehouses: now the two are connected loft buildings at 245… [Read More]
DID ANYONE NOTICE….?
Posted by Leonard Steinberg on January 20th, 2014. Was I the only one who noticed two extraordinary ironies this past week? 1) Mayor de Blasio was completely silent as New York real estate taxes on condominiums were raised almost TWICE the amount of single family townhouses? A TALE OF TWO OWNERSHIPS? A $ 1,36million 644sf new condominium at… [Read More]