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Michael Stoler Newsletter

03/18/2013

The Stoler Report-New York's Business Report
What's Happening in Williamsburg
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     Building New York-New York Life Stories 

Life of Eric Ripert
Airing on CUNY TV,  DIRECT TV & JLTV in the U.S  

This week join Michael Stoler on the television productions of New York Real Estate TV, LLC.

Monday, March 18th, Michael Stoler's guest on "Building New York-New York Life Stories" is chef Eric Ripert, Le-Bernardin.

On Tuesday evening, March 19th, Building NY-NY Stories will air nationallly on DIRECT TV an JLTV at 9 PM (EST) and 12 Midnight

On Tuesday evening, March 19th, the topic of the Stoler Report-New York' Business Report  is "What's Happening In Williamsburg?

My guests on the broadcasts include Andrew Barrocas, Peter D'Arcy, Jared Epstein and David Schwartz.

The Stoler Report-New York's Business Report now airs a total of 15 times a week on CUNY TV in New York City and PBS in the region.

Every Monday morning  you will receive the latest real estate article by Michael Stoler on the state of the market an information about the upcoming guests on the productions of New York Real Estate TV, LLC
Sincerely
Michael Stoler

Decline in luxury consumer confidence can have a direct effect on retail sales in 2013

Sales of luxury products may fall in 2013 due to a decline in consumer confidence.

Luxury Daily.com reported that Consumer confidence among the top 20 percent of U.S. households has decreased back to the level reported in the second quarter of 2012, which is the second-largest drop in confidence since the first quarter of 2008, according to a study by Unity Marketing.

The Luxury Consumption Index found that the top 20 percent who represent approximately 40 percent of consumer spending in the United States reported a confidence level that dropped 19.4 points in January since the last survey in October. This comes after a 24.3 point rise in confidence that was seen in the results of the October report.

"For luxury marketers, the advice from these results is caution, because the target luxury consumers are being cautious," said Pam Danziger, president of Unity Marketing.

"Marketers will need to work hard to bring in the same dollars they did last year and even harder to generate growth," she said.

"The luxury market is going to get increasingly competitive, since nobody really needs any of these luxury goods and services since perfectly acceptable substitutes are widely available for much less money."

The Luxury Consumption Index is based on the Luxury Tracking Survey that measures the optimism that affluent consumers feel about the overall state of the economy and their personal financial situation. The latest report is based on a survey conducted Jan. 9-15 among 1,369 luxury consumers with an average income of $267,800.

37 lucky families have the opportunity to " win the lottery"for a luxury brand new apartment on the west side of Manhattan

At the corner of West 77th Street and Broadway, a joint venture of Friedland Properties and Rose Associates are constructing a residential rental building known as the Larstrand. The twenty store high rise will have a total of 181 units ranging in size form 480 square feet to 1,700.

The joint venture closed a $125 million loan funded by the issuance of bonds for an 80/20 development provided by the New York State Housing Finance Agency for the development of the building which will have a total of 37 units will be designated as affordable housing. According to the press, the market rate rentals are expected to be rented at $80 to $100 per square foot.

West 77th Streets Apartments which reflects the 20 percent affordable units is now accepting applications for the 37 affordable units being constructed through the Deep-Rent Skewed and Low Income Housing Tax Credit Programs.

A total of 12 studio; 13 one bedroom, 10 two bedroom and 3 three bedrooms affordable units are available.

No of Units        Unit Size           Family Size       Monthly Rent          Total Gross Annual

 

                                                                                                          Income Range

                                                                                                          Minimum-Maximum

 

         2          Studio               1                      $546                             $19,855-$24,080                                     

         2          1 Bedroom        1                      $587                             $21,345-$24,080

                                              2                      $587                             $21,345-$27,520

           

         2          2 Bedroom        2                      $715                             $26,000-$27,520

                                               3                      $715                             $26,000-$30,960

                                               4                      $715                             $26,000-$34,360

 

         10         Studio               1                      $696                             $25,309-$30,100

 

          11         1 Bedroom        1                      $748                             $27,200-$30,100

                                                2                      $748                             $27,200-$34,400

 

          8          2 Bedroom        2                      $908                             $33,018-$34,400

                                                3                      $908                             $33,018-$38,700

                                                4                      $909                             $33,018-$42,950

 

           3          3Bedroom         3                      $1,039                          $37,782-$38,700

                                                4                      $1,039                          $37,782-$42,950

                                                5                      $1,039                          $37,782-$46,400

                                                6                      $1,039                          $37,782-$49,850

This is a fantastic opportunity to rent a brand new apartment on the West side of Manhattan.

Applicants will be required to meet income and additional selection criteria.

Applications must be requested by postcard only from: West 77th Street APTs,   

  303 Park Avenue South, PMB 1122 and New York, New York 10010, or

Downloaded from www.phippsyny.org/housing_apt.html

Completed applications must be returned by Regular Mail ONLY (No priority, certified, registered, express or overnight mail will be accepted) to a post office box number that will be listed with the application, and must be postmarked by April 23, 2013.

Applications post marked after April 23, 2013 will be set aside for possible future consideration.

Applications will be selected by lottery: applicants who submit more than one application will be disqualified.

Preference will be given to New York City residents.

No Brokers Fee or Application fee should be paid at anytime in connection with these applications.

This is a fantastic opportunity to rent a brand new apartment on the West side of Manhattan.

03/18/2013 - 19:09

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