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Risky Business

13 October, 2008 posted by: Harsha Chanrai

I’m flying right now from New York to London, a journey I’m pretty used to by now, sometimes for a long weekend, this time for a wedding. I’ve become so “hungry” in this market, since moving to New York in January with only a small handful of possible potential international buyers, that I now have the mentality that the person sitting next to me could be my next client, or friend of client.  This applies on the subway, in a restaurant, coffee shop, nail spa and in this case, on a plane.

So we’re sitting side by side on our laptops, and while I’m hoping he’s not reading what I’m writing, I see him also on Word, formulating a business plan, using the non-interrupted seven hours away from our blackberries to do things we never get around to doing, accounts, business plans, writing something for Core Talks…. Read the rest of this entry »



 

Actionable Data – Streeteasy’s Michael Smith

08 October, 2008 posted by: Shaun Osher

New York City is one of the only cities in the United States that has never had a comprehensive one-stop-shop for listing data (current or historic). For years, the major power brokers tried to “get together” to create an MLS , but we all know how that turned out. Michael Smith is the CEO and Founder of Streeteasy. He has confronted this monumental task head on and has revolutionized how people search for available listings on the web, and research historical data. I sat down with him recently and discussed his company.

Shaun: How old is the company?

Michael: The company is almost 3 years old.

Shaun: And your title is?

Michael: CEO

Shaun: How many people is the company comprised of?

Michael: Ten. A big group of ten.

Shaun: Must be ten very efficient people.  What hours do you work? (Laughing)  Is there some advantage to owning a web based company, where your hours are not traditional?

Michael: I think so. We have an employee in California.  Today we’ve been able to do a lot with very few people. Ten for us is actually quit a big number.  For the first two years it was much smaller than that.

Shaun: Why did you start the company?

Michael: In a very basic sense, we started the company because we felt there was a real lack of actionable data for consumers, when it came to residential real estate. Read the rest of this entry »



 

Garage Sale!

02 October, 2008 posted by: Simon T Anderson

I am one of those financially irresponsible Manhattanites that must have a car. I have parked  a string of cars at Pier 40, Red Ball Garage and now at the Automotion facility in the new 123 Baxter condominium. Each garage has cost more than the last.

A friend of mine’s father lived at Lexington and 89th Street in a rent stabilized apartment about ten years ago and paid more for his parking spot in the building than he did for his home! A useful tool to understand garage rates throughout New York City revealed that you can pay as much as $1,200 a month to park on either the Upper East or West Sides. I am sure a number of residents of these areas are paying less than that for apartments with stabilized leases.

As outdoor lots and older garages fall prey to development and parking availability dwindles, skyrocketing prices are sure to remain a reality for those that must drive. Not long ago, private spaces in a few CORE Group Marketing projects sold at unheard of prices. Is the advent of the half million dollar parking spot not far away?



 

The World’s Biggest Weekend Open House

01 October, 2008 posted by: Simon T Anderson

The Sixth Annual Open House New York Weekend is fast approaching. This fantastic series of events will take place this coming weekend, October 4th and 5th, at hundreds of locations throughout the five boroughs of New York City. Some tours are very popular and require advance reservations so call now to book early after visiting the official site to plan your urban adventure.



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