HERMES SOARS – LUXURY BUYERS PAY A PREMIUM FOR REAL QUALITY

Posted by Leonard Steinberg on April 28th, 2014 The super-luxury market is alive and well as witnessed by Hermes’ forecast-beating 14.7% rise in like-for-like first-quarter sales on Tuesday, driven by strong demand for its ultra high quality fashion and leather goods. Sales in Japan, one of its biggest markets, were boosted by purchases ahead of… [Read More]

AFFORDABLE HOUSING FOR WHOM?

Posted by Leonard Steinberg on February 11th, 2014 The gorgeous building housing CITY HALL restaurant at 131 Duane Street just sold for over $18 million: this sale highlights an issue that Mayor De Blasio needs to address related to AFFORDABLE HOUSING: The building houses 6 rent stabilized tenants who are supposedly paying an average of… [Read More]

LUXURYLOFT TEAM CLOSES LARGEST SALE OF 2013 IN NEW YORK.

Posted by Leonard Steinberg on December 28th, 2013 Congratulations again to my LUXURYLOFT team:  The New York Times announced this morning that our $ 43million sale at 144 Duane Street was the largest closed transaction of 2013 in New York City. An especially big congratulations to Yoko Sanada who made it all possible. Here is… [Read More]

THE QUEST FOR ULTRA-PRIVACY

Posted by Leonard Steinberg on November 8th, 2013 We just listed a rather exceptional penthouse on Hubert Street in Tribeca at the brand new pre-war conversion 250 West Street that boasts a feature very few buildings can provide:  ultra-privacy. The penthouse is accessed via a private drive-in drop-off entrance……from there you enter a completely dedicated… [Read More]

WILL 140 WEST STREET BE WALKER TOWER SOUTH?

Posted by Leonard Steinberg on September 12th, 2013 Ben Shaoul of Magnum Real Estate has purchased the upper floors of the magnificent Verizon building located at 140 West Street, a building very similar to the Verizon building that became Walker Tower. This superb Art Deco landmark sits alongside the Freedom Tower, nestled between Tribeca and… [Read More]

BABY BOOMERS KEEP MOVING TO CITIES

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]

TRIBECA EAST: HOME OF ONE 57 SOUTH?

Posted on May 16th, 2013 Is the concept of Midtown highrise living (a-la-One57)invading Eastern Tribeca? It appears so. Joining the sky-high condominiums of the Woolworth Building and 56 Leonard Street comes word that  Larry Silverstein has finally secured funding for his long-planned $950 million luxury high-rise in TriBeCa: The 82-Story Robert A. M. Stern-designed tower will… [Read More]

TIME FOR CONSUMER ELECTRONICS THAT ACTUALLY WORK FOR CONSUMERS?

Posted by Leonard Steinberg on January 19th, 2013 This week the discussion arose again about electronics for AV systems and ‘smart homes’ at one of my meetings with a developer client developing a gorgeous luxury building in New York. What exactly does the consumer want delivered to-day in a brand new Manhattan luxury apartment in the way… [Read More]

NEW YORK NEW DEVELOPMENT: THE NEXT CHAPTER

Posted by Leonard Steinberg on January 12th, 2013 In the coming weeks and months, over 7,000 units of new construction LUXURY apartments will be coming to the market in New York……that is a VAST number of units and will significantly alter the bland inventory landscape we are currently experiencing. While one could argue that the… [Read More]

MANHATTAN NOISE: IT’S EVERYWHERE!

Posted by Leonard Steinberg on May 21st, 2012 Often buyers wince at the sight of a construction site abutting a building they are considering buying in…..they fear the noise it will produce. They are correct: there will be noise. But don’t for one moment think anyone living in Manhattan is immune to noise. It’s everywhere…. [Read More]