To put that in perspective: There is $5.7 billion in existing inventory on the market and $2.2 billion in contract, according to a 2019 new development condo report from Halstead Development Marketing, which counted $13 billion in sales that have closed since 2018. Today, many of the units in these luxury buildings are still sitting vacant, and they could take more than six years to sell, according to appraiser Jonathan Miller of Miller Samuel. economy was rebounding and foreign capital was flowing through the city, 84 Manhattan condo projects were filed with the New York attorney general’s office, according to a TRD analysis. Regulars come everyday for a quick nosh and sometimes, a not so quick chat with Adam.The site, a gaping hole encased in a cordon on a busy street in the Financial District, serves as a gloomy reminder for developers: The luxury condo boom that defined the past decade has come to an end.īack in 2013, when the U.S. The store on 6th Avenue near 13th Street soon became an integral part of the community, and its reputation for delicious, fresh, traditional NYC bagels began to spread. And Murray encouraged and advised Adam at each stage of the process.
Adam named Murray's Bagels for his father, from whom he learned his love of bagels and appetizing. He found a small storefront in Greenwich Village, which he renovated on a shoestring budget, opening Murray's Bagels in November 1996. He followed his heart and his stomach, and when it was right he just knew it. Finally, Adam tried different recipes until he found the precise proportions and quantities of each ingredient. He ate bagels in Manhattan, in Brooklyn, downtown, uptown. Next he searched for the best qualities of different bagels throughout New York. Adam knew that to create the best bagel he had to learn the traditional techniques, and use only the finest ingredients - there could be no cutting corners. He worked as an apprentice from 2am to 11am, learning every step of the bagel making process. Having resolved to quit the financial markets for the kitchen.Īdam's first step toward realizing his dream was to go to work for a traditional wholesale bagel baker in New Jersey. This was Adam's soulfood.īagels and smoked fish, or "appetizing," was something he knew and loved, and Adam's dream was to make the best bagel in NYC - to create a shop that introduced his soulfood to a whole new generation of New Yorkers, while also catering to the old-timers who remembered the familiar crunch and aroma of a hot, freshly baked bagel.
At school other kids had turkey sandwiches or peanut butter and jelly for lunch, Adam had a bagel and lox with a schmear of cream cheese. Adam's father, Murray, would bring home traditional NYC Jewish "appetizing": bagels, lox, sable, whitefish, cream cheese and other salads, from the Lower East Side, where he owned a women's clothing store on Rivington Street. His dream was to someday run his own business - not a business on Wall Street, but something much closer to his heart, and his stomach.Īs a child, every Thursday dinner was Adam's favorite meal. When he was putting in long hours as a vice president at Merrill Lynch, Adam Pomerantz had a dream.
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