I remember results of a study done while I was at PDE 5 years ago that showed 50% of our business in the Hamptons came from the 5 boroughs of New York City, 25% came from Long Island (Nassau & Suffolk) and 25% came from everywhere else, both nationally and internationally. It would be interesting to break down how much of that business could be diectly attributable to Wall Street people…looking back, roughly one in three of my business deals have been done with Wall Street folks over the years…and while that might be ebbing at the moment, only Chicken Little thinks that will ever stop completely.
We are, naturally, so Wall Street focused here, after all, many of our friends, and clients work on Wall Street and, on the other hand, Wall Street is the very thing the cynics love to hate, out of jealousy or philisophical dissonance with living a life around money.
One of my dearest friends of 30 years was visiting from Syracuse recently and she reported that the market was somewhat flat there, but had not seen any major upheavals recently (I haven’t checked their stats, was just listening) and she asked me “What’s it like to live near Wall Street with all these big ups and downs and all these millions floating around?”
“Interesting”, I said. “Never dull”.
That’s for sure…
Noah Rosenblatt, UbranDigs.com, posted about projected tax and job losses in New York as a result of the financial sceanario we are in…check it out below.