Posted by Leonard Steinberg of URBAN COMPASS on July 16th, 2014 A Long Island Railroad strike is looming and at the core of the problem is a simple truth: commuters who use the LIRR cannot afford to pay more for the service in raised fares, there is a budget, and salaries cannot be raised in… [Read More]
ARE LONDON BUYER-BLUES BEING MIRRORED IN NEW YORK?
Posted by Leonard Steinberg, President of Urban Compass, on July 8th, 2014 London is experiencing some BUYER-BLUES on the very high end and today its reported that home-price gains in London’s most-expensive neighborhoods are trailing the rest of the city because buyers are deterred by high asking prices and the possibility of new taxes. Values in… [Read More]
THE CURSE OF REAL ESTATE RANKINGS
Posted by Leonard Steinberg on July 7th, 2014 In the past few months all sorts of rankings have come out showing how real estate brokers fare next to one another in either the number of transactions they close, the total volume of sales, or the total volume of exclusives they have on their books. I… [Read More]
NEW YORK AVERAGE PRICES SOAR 20%: THE 'PLAZA EFFECT' AGAIN?
Posted by Leonard Steinberg, Urban Compass, on July 1st, 2014 In this morning’s NEW YORK POST: “The sale price for Manhattan apartments has skyrocketed 20 percent this year, a market report has found. Manhattan home buyers paid an average $1.69 million in the second quarter of 2014, compared with $1.41 million for the second quarter of… [Read More]
NYC MARKET RESULTS: NEGLECT OF THE MIDDLE RICH?
Posted by Leonard Steinberg, President of URBAN COMPASS, on June 30th, 2014 Is the New York real estate market starting to soften? Some reports say so, but it probably has everything to do with the INVENTORY issue. Signed contracts may have declined in recent quarters compared to the prior year but it’s not because of… [Read More]
THE JILLS ARE THE NUMBER ONE TEAM IN THE USA…..NATIONWIDE!
Posted on June 27th, 2014 by Leonard Steinberg The Wall Street Journal/REAL TRENDS rankings came out this morning to reveal the NUMBER ONE TEAM NATIONWIDE for 2013 as……The Jills (Jill Herzberg and Jill Eber of Miami): CONGRATULATIONS! Many claim they are the number one team and in this digital age where claims can be made that… [Read More]
100 MILLION DOLLAR LISTING NEW YORK
Posted by Leonard Steinberg, president of URBAN COMPASS, on June 20th, 2014 Moments away from the official beginning of Summer, things are really heating up in Manhattan real estate when it comes to pricing: the elusive $100 million mark that has yet to be achieved in New York for the sale of a residential property heats… [Read More]
DO ONLY BILLIONAIRES BUY REALLY EXPENSIVE APARTMENTS?
Posted by Leonard Steinberg on June 17th, 2014 Today word spread that another billionaire swept in to buy the French government owned duplex at 740 Park Avenue for many millions over the asking, supposedly $70 million….for a co-op….that needs renovation work. Can only billionaires pay these prices? I have found over the past few years… [Read More]
THE SOLUTION TO MIDDLE EAST PROBLEMS?
Posted by Leonard Steinberg on June 15th, 2014 Yesterday while touring the magnificent HUDSON WOODS development in the Catskills, a simply beautiful 130-acre development of DWELL-editorial-quality homes designed by Drew Lang and represented by James Cox and Frank Giordano of URBAN COMPASS, I spotted something that could be part of the solution to the turmoil that… [Read More]
NUMBER OF US MILLIONAIRE HOUSEHOLDS RISES 18%, CHINA UP 82%!
Posted by Leonard Steinberg on June 11th, 2014 For anyone worried that there may not be enough buyers for luxury New York apartments, take a deep breath. The Boston Consulting Group has determined that the number of millionaire households in the US grew by 18% last year from 2012. The total number of millionaire households in… [Read More]