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[NY] Rent for jewelers' buildings

Hello Every One

Any thoughts on the following. Are there any dots to connect here or
is it am i reading too much.

I have started seeing a trend in midtown manhattan, that is lot of
"top notch" or must have buildings for jewelers have started mass
mailing and posting paper in the building, as well as advertising in
local news paper for tenants. The asking rent price has almost come
down to half of it what was being asked a year ago.

With the $$$$ taking a hit virtually against all the "who’s who"
currencies of the world and Euro taking a lead and on the starting
steps of replacing $$ as the accepted currency. What is the
prognosis?

Anil

The bust in the economy is not just in NY, I’m pretty sure it’s all
over the country. Peole seem to be holding on to their dollars, even
though the value of the dollar continues to fall on a daily basis.
I’ve seen the last few weeks without anyone coming in to retail
establishments. (of course, I’m not talking about Wal-Mart - but
even there, the crowds seem to be way down!)

Rent have stabilized in New York. Land lords had hit the ceiling. As
a tenant in a retail location I can say that it has not dropped 50
%. not at all.

Manufacturing is down & Thank god Dollar is down or else it would be
worst.

We go through this every 1st quarter. Come August we will be again
busy.

The concept 580 5th Ave or Addresses is changing. With FedEx and
Overnight you could be in Phoenix or Columbus.

If Jhaveri Bazar moved to Panchratna and now gone to Seeps. Did
rents in Bombay come down. We have changes in Shupstrasse & Hatton
Garden too.

Even Today I still feel this is the biggest market and there are
more sellers out here than anywhere else.

Yes the mood in Asia, Mid East & Europe is on the upswing. It is the
US that is pumping War Expenditure & Releif into this area. We are
buying Food, Fuel, and Unworthy Allies.

I have faith in this country and the system with all its defect is
still the best.

Regards
Kenneth Singh

Very perceptive Anil…

Today oil is $53.00 a barrel =96 see
http://www.wtrg.com/daily/crudeoilprice.html

The national debt is 7.7 trillion dollars =96 see
http://www.brillig.com/debt_clock/

Then of course, there is the giant housing bubble now in progress=96
see
http://www.tompaine.com/articles/trouble_at_home_the_housing_bubble.ph=
p

Not to mention the collapse of the dollar =96 see

Mother Earth seems to be very big on earthquakes lately.

America appears to favor the conquest of yet more Middle Eastern
countries.

When all this comes together to produce a massive recession, or
should I say depression, the first things to go will be expensive
luxury items like jewelry. Then Wal-Mart will be king with low
priced wedding rings from China.

Building owners in midtown Manhattan appear to have a handle on
this. They are the harbinger of the future.

One could reason that there will always be a market for fine
jewelry. This is correct, but the number of buyers will be a
fraction of the halcyon days of yore, hence low rents are a
prerequisite.

Here in Thailand where I live, all the jewelry stores in Bangkok’s
Chinatown sell gold jewelry by weight. Is everyone on Orchid ready
for that?

I would like to have a more positive attitude about the future, but
there are all these sirens screaming in my ears.

Wishing Godspeed to us all,
Randolph Post