Posted by Leonard Steinberg of URBAN COMPASS on October 22nd, 2014 Jennifer Lopez, the fly-girl turned super-star from the Bronx is moving Downtown according to the New York Post: she is supposedly in contract to buy the penthouse above Chelsea Clinton at The Whitman, a newly renovated condominium facing Madison Square Park. The massive penthouse… [Read More]
$80 MILLION CO-OP PRICING RECORD SET IN NEW YORK
Posted by Leonard Steinberg of URBAN COMPASS on October 21st, 2014 A new pricing record has been broken in New York: For the first time ever a co-op located at 834 Fifth Avenue has been sold for $80 million. The buyer is the quintessential Russian Billionaire Len Blavatnik. 834 Fifth Avenue is widely regarded as… [Read More]
WORDS OF THE REALLY RICH
Posted by Leonard Steinberg of URBAN COMPASS on October 18th, 2014 There is rich and then there is REALLY rich: As a New York real estate broker I often get lost in this micro-world of what is completely removed from the ‘real’ world, and I try to see the humor in it all. Yes, the… [Read More]
SOHO ARTIST’S LIVE IN THE RICHEST ZIP CODE IN NEW YORK/USA?
Posted by Leonard Steinberg of URBAN COMPASS on October 9th, 2014 Are Soho artists living in the third most expensive zip code in the USA? It appears so…..The median price for a home in Soho is $6 million yet the City still keeps Soho in the grasp of an antiquated zoning law called A.I.R, or… [Read More]
STUPIDONOMICS: NEW YORK PIED-A-TERRE TAX IS SIMPLY STUPID
Posted by Leonard Steinberg on September 24th, 2014 Imposing a PIED A TERRE tax on New York luxury apartments is probably one of the worst economic proposals to raise tax revenue I have ever heard of. The tax of up to 4% annually would be applied to all apartments and homes with a current market value… [Read More]
THE INNOVATION ECONOMY: IS TECHNOLOGY NEW YORK'S FUTURE?
Posted by Leonard Steinberg on August 19th, 2014 There can be no doubt that technology has become a key driving force and growth sector for the New York economy (and the world in general). A city that was once almost entirely reliant on the financial sector for high paying jobs is seeing tech catch up… [Read More]
THE 24/7/365 WORLD
Posted by Leonard Steinberg of URBAN COMPASS on August 16th, 2014 In my role as President of URBAN COMPASS, I post some of my thoughts and observations to the company. I thought I would share this one as it highlights the new world we live in: THE 24/7/365 WORLD. Seasons are a magical way of reminding us… [Read More]
IN 'DEFENSE' OF THE ALEXANDER BROTHERS
Posted by Leonard Steinberg of URBAN COMPASS on August 7th, 2014 “In what could be a real estate record for New York City, the nation of Qatar is in contract to buy an Upper East Side townhouse for $100 million, The New York Post reported earlier this week.” This week it was revealed that the… [Read More]
BUBBLINGO!
Posted by Leonard Steinberg of Urban Compass on August 6th, 2014 Its annoying to me how some people in our industry are fueling a bubble when a bubble could easily be avoided: I am calling it BUBBLINGO…..the language that causes bubbles. One example: “So a very similar building next door to ours sold units for… [Read More]
FOOD MARKETPLACE/EATERY COMING TO WEST CHELSEA!
Posted by Leonard Steinberg of URBAN COMPASS on August 4th, 2014 Far West Chelsea residents like myself love living here, but certainly miss one component: good food. Now there is news that HUDSON MARKET is coming to 303 Tenth Avenue, a few doors down from Avenue’s School! The gourmet-style marketplace/eatery will have a mix of products and… [Read More]