chorosch, "underused" is code for "not getting as much money in rent as they could if the place were upscale".

Posted by: oneonetwotwoone at March 2, 2009 10:38 AM in response to Fulton Mall Appears To Be Bucking Retail Downturn

Legion, the topic is "Wall Street's effect on the real estate market" and, since that market is taking a huge shit right now, you can most likely expect the sectors of business peripherally or heirarchically related to it to follow suit.

The real estate market (and many other markets too -- fine dining, upmarket retail, etc) are based upon "extra money" - luxury spending. Wall Street was providing New Yorkers with much of their "extra money". When it dries up, so too will the market for $650 bottles of Belvedere and $1m studio apartments..

I think that's all that's at issue here..

Posted by: oneonetwotwoone at September 16, 2008 11:06 AM in response to Wall Street Reorg: Impact on Real Estate?

PS. make your own fucking coffee!!

Posted by: oneonetwotwoone at July 29, 2008 12:00 PM in response to Streetlevel: Restaurant/Bar Coming to 7 Greene Avenue

there's something about this place i don't like already, and it smacks of smug, "upmarket" pretense.

Posted by: oneonetwotwoone at July 29, 2008 11:59 AM in response to Streetlevel: Restaurant/Bar Coming to 7 Greene Avenue

i love the way people insist that new york city is totally insulated from the wider real estate (rather, economic) trends. think about this -- when the RE market was on the rise (last year, year before) you could see it in any major city center. everywhere, people paying a premium for city living, loft-condo conversions of once-undesirable spaces, etc. one would have to agree that at one point there was some degree of parity in market behavior, even if NY prices were scaled up from other metropolitan areas.

doesn't it seem unreasonable to maintain that the relationship no longer holds when the market is moving in the opposite direction?

Posted by: oneonetwotwoone at July 22, 2008 1:29 AM in response to House of the Day: 586 4th Street