I believe that there would be a tremendous impact on real estate values in the Penn Plaza area if LeBron James were to play for the New York Knicks. According to this recent article on ESPN.com it seems like this dream is inching closer to becoming a reality. Each of the 55 home games (assuming the Knicks […]
On March 23, 2010 Bank of America Merrill Lynch and Time Equities, Inc. held a luncheon to discuss the financing markets for Manhattan office condominiums. The esteemed economist Allen Greer from Greer Advisors was the feature speaker. The lunch was held at Stout, the retail tenant of Time Equities’ most recent office condominium conversion at 131 West […]
The NY Times profiled Curbed.com founder Lockhart Steele. He has definitely had a profound effect on the New York real estate market. His blog posts have the potential to greatly alter the value of a real estate development. He is feared and respected, yet has maintained a grassroots feel by being an advocate of the people rather than being an […]
Since I am in the business of promoting real estate it might not be appropriate for me to be blogging about a guy, Dr. Mike Burry, who made billions betting against the housing market. However, I believe that there are valuable lessons to be learned from his success; particularly how periodically in the U.S. economy there are big disconnects […]
Warren Buffett’s comments on the U.S. housing market in his recently released 2009 Berkshire Hathaway Annual Report, Chairman’s Letter is the best commentary on this topic. I believe that he describes a classic under-supply and over-supply cycle. These cycles occur frequently in the U.S. It is important to train yourself to recognize them. “The (housing) industry is in […]
I was recently introduced to a five-part series of books on the development of New York City by famed architect Robert A.M. Stern. I deem these books a must read for anyone in the real estate business in New York. “Simply put, Robert A. M. Stern’s “New York 2000,” together with its four preceding volumes, represents […]
Great photos from the Gothamist and photographer David Vega showing Greenwich Village in the mid 1980’s. I recall taking the PATH train every weekend and walking around 8th Street…I’d hope that some day I could live and work in the Village…and now I do! The Lone Star (pictured above) on 13th Street and Fifth Avenue was next to Time Equities’ offices at 55 […]
Gammon Ragonesi Associates (GRA), one of New York City’s leading design and packaging firms purchased the 16th floor (6,333 RSF) of 131 West 33rd Street for $3 million.
Mort Zuckerman, the billionaire owner of real estate firm Boston Properties, is reportedly considering a run for U.S. Senate to replace Kirsten Gillibrand. The New York Times’ description of Michael Bloomberg perfectly articulated my opinion of Zuckerman…”a self-financed nonpolitician whose independence from special interest groups would let him apply strong medicine to the city’s fiscal […]
Vornado is in the planning stages to build a $3 billion office building on the Hotel Pennsylvania site. They are ready for the perfect tenant to come along to occupy the Pelli Clarke Pelli-designed tower which will “soar to a few hairs short of the Empire State Building’s peak.”
