2017 was our 20th year online!

Welcome to the Piano World Piano Forums
Over 3 million posts about pianos, digital pianos, and all types of keyboard instruments
Join the World's Largest Community of Piano Lovers (it's free)
It's Fun to Play the Piano ... Please Pass It On!

Shop our online store for music lovers
SEARCH
Piano Forums & Piano World
(ad)
Wessell Nickel & Gross
PianoForAll
(ad)
Best of Piano Buyer
 Best of Piano Buyer
(ad)
Faust Harrison Pianos
Faust Harrison 100+ Steinway pianos
Who's Online Now
61 members (bobrunyan, c++, chih-wei, chipsneeze, accordeur, Chrispy, 36251, 17 invisible), 422 guests, and 470 robots.
Key: Admin, Global Mod, Mod
(ad)
Estonia Pianos
Estonia Pianos
Previous Thread
Next Thread
Print Thread
Hop To
Steinway selling property to Robert DeNiro for a huge studio
#2856299 06/07/19 07:29 AM
Joined: May 2001
Posts: 12,278
Platinum Subscriber
Yikes! 10000 Post Club Member
OP Offline
Platinum Subscriber
Yikes! 10000 Post Club Member
Joined: May 2001
Posts: 12,278


Rich Galassini
Cunningham Piano Co.
Phila., Pa.
(215) 991-0834 direct
rich@cunninghampiano.com
Visit our Online Store
The Science Channel documents our piano restoration
Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2856302 06/07/19 07:38 AM
Joined: May 2015
Posts: 7,112
Silver Subscriber
7000 Post Club Member
Offline
Silver Subscriber
7000 Post Club Member
Joined: May 2015
Posts: 7,112
Hi Rich (and others)
Any idea if this is just unused Steinway property... or if they are downsizing used space?

Re: Steinway selling property to Robert DeNiro for a huge studio
dogperson #2856307 06/07/19 07:52 AM
Joined: May 2001
Posts: 12,278
Platinum Subscriber
Yikes! 10000 Post Club Member
OP Offline
Platinum Subscriber
Yikes! 10000 Post Club Member
Joined: May 2001
Posts: 12,278
Originally Posted by dogperson
Hi Rich (and others)
Any idea if this is just unused Steinway property... or if they are downsizing used space?


They must have compressed the space they use. I believe their working factory staff is about 1/3 of what it was a decade or so ago. (That is a rough number. Anyone who knows better, please reply).


Rich Galassini
Cunningham Piano Co.
Phila., Pa.
(215) 991-0834 direct
rich@cunninghampiano.com
Visit our Online Store
The Science Channel documents our piano restoration
Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2856313 06/07/19 08:23 AM
Joined: Nov 2014
Posts: 197
M
Full Member
Offline
Full Member
M
Joined: Nov 2014
Posts: 197
NY land being some of the most valuable (vis-a-vis money) on Earth, I was wondering how long they could justify having the footprint they do with their current output, balance sheet, and the current piano market.

Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2856382 06/07/19 12:12 PM
Joined: Sep 2008
Posts: 197
Full Member
Offline
Full Member
Joined: Sep 2008
Posts: 197
The property mentioned in this article is adjacent to but NOT a part of Steinway’s current production facilities. So the Steinway factory would not need to move or close if the deal described were to be completed.

Steinway at one time had well over 400 acres of land in the Astoria area (including the land where LaGuardia Airport exists today). We have sold portions of this land throughout our history – often to fund innovations and equipment upgrades in our piano business. So this is not new or really even news (except perhaps for the celebrity names attached to the story).


Bob Snyder
Senior District Manager
Steinway & Sons

rsnyder@steinway.com
www.steinway.com
Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2856392 06/07/19 12:46 PM
Joined: Oct 2012
Posts: 5,511

Platinum Supporter until Feb 18  2015
5000 Post Club Member
Offline

Platinum Supporter until Feb 18  2015
5000 Post Club Member
Joined: Oct 2012
Posts: 5,511
What I find interesting is that the proposed sale price for these 5.25 acres is 15% of the recent sale price of the entire company! If we consider New York and Hamburg to represent a roughly 50/50 split, then it's 30% of the New York half. Of course those are big round numbers...

Does anyone know now many acres Steinway owns in total at this location?

As has been noted before, and above, it may be increasingly difficult to rationalize operating at a location when the opportunity cost of doing so is apparently so high.



Lorem ipsum dolor sit amet
Re: Steinway selling property to Robert DeNiro for a huge studio
Bob Snyder #2856393 06/07/19 12:46 PM
Joined: Nov 2014
Posts: 197
M
Full Member
Offline
Full Member
M
Joined: Nov 2014
Posts: 197
Much appreciated -- thanks for setting the record straight.

Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2856627 06/08/19 09:17 AM
Joined: Jan 2018
Posts: 3,487
3000 Post Club Member
Offline
3000 Post Club Member
Joined: Jan 2018
Posts: 3,487
And the saga continues....



[Linked Image]
Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2856667 06/08/19 10:55 AM
Joined: Oct 2009
Posts: 3,916
j&j Offline
3000 Post Club Member
Offline
3000 Post Club Member
Joined: Oct 2009
Posts: 3,916
My own pea brained thoughts. Real estate is incredibly expensive in New York City. If nothing else, Steinway would keep its showroom and some inventory and storage on their expensive acreage, because it’s Steinway & Sons NY. But there’s nothing that says their piano building has to take place right by the showroom. They could move the production to a less expensive NY borough and lower cost of production. I’m kinda surprised they haven’t done so already. Unfortunately I hate the fact it was sold to De Niro. sick
Just my 2 cents.


J & J
Estonia L190 Hidden Beauty
Casio Privia PX-330
I don’t play well but I play far better than I sing.
[Linked Image]
Re: Steinway selling property to Robert DeNiro for a huge studio
j&j #2856723 06/08/19 03:15 PM
Joined: Feb 2019
Posts: 2,621
L
2000 Post Club Member
Online Content
2000 Post Club Member
L
Joined: Feb 2019
Posts: 2,621
Originally Posted by j&j
My own pea brained thoughts. Real estate is incredibly expensive in New York City. If nothing else, Steinway would keep its showroom and some inventory and storage on their expensive acreage, because it’s Steinway & Sons NY. But there’s nothing that says their piano building has to take place right by the showroom. They could move the production to a less expensive NY borough and lower cost of production. I’m kinda surprised they haven’t done so already. Unfortunately I hate the fact it was sold to De Niro. sick
Just my 2 cents.


That’s in Astoria, Queens. Queens is a less expensive borough, certainly a lot cheaper than Manhattan. Maybe Steinway could find something cheaper in the Bronx, but I kind of doubt it. I’ve got nothing against DeNiro and he’s creating jobs in the production company, which is a good thing in my eyes. Steinway decided that they could live without the land, so be it. It’s a business decision and brings them cash.

Last edited by LarryK; 06/08/19 03:20 PM.
Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2858677 06/14/19 10:02 PM
Joined: May 2001
Posts: 12,278
Platinum Subscriber
Yikes! 10000 Post Club Member
OP Offline
Platinum Subscriber
Yikes! 10000 Post Club Member
Joined: May 2001
Posts: 12,278
I hadn’t realized how much was being sold. I only just read this article:
Nearly Half of the Steinway factory?


Rich Galassini
Cunningham Piano Co.
Phila., Pa.
(215) 991-0834 direct
rich@cunninghampiano.com
Visit our Online Store
The Science Channel documents our piano restoration
Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2858678 06/14/19 10:21 PM
Joined: Apr 2018
Posts: 310
Full Member
Offline
Full Member
Joined: Apr 2018
Posts: 310
Originally Posted by Rich Galassini
I hadn’t realized how much was being sold. I only just read this article:
Nearly Half of the Steinway factory?

Rich, not sure why, but your link didn’t work for me. Here’s another link to the article.

https://nypost.com/2019/06/13/pauls...teinway-factory-to-robert-de-niro-group/


.... Jeff ▫️ Yamaha P515 ▫️ Roll Tide
Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2858679 06/14/19 10:27 PM
Joined: Oct 2012
Posts: 5,511

Platinum Supporter until Feb 18  2015
5000 Post Club Member
Offline

Platinum Supporter until Feb 18  2015
5000 Post Club Member
Joined: Oct 2012
Posts: 5,511
Interesting discussion of cost-cutting measures too.



Lorem ipsum dolor sit amet
Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2858713 06/15/19 02:44 AM
Joined: Feb 2019
Posts: 2,621
L
2000 Post Club Member
Online Content
2000 Post Club Member
L
Joined: Feb 2019
Posts: 2,621
This is an interesting quote from the article,

““This land is excess property that was not being used for the production of our pianos,” a Steinway spokesman told The Post. “Steinway has built the world’s finest pianos on this site since the early 1870s and will continue to do so for the foreseeable future.””

I have to love the desperate sales guys who tried to convince buyers that pianos are appreciating assets, lol. Car salesmen should try the same trick, followed by audio salesmen, and just about all the salesmen in the world, haha.

Regardless, the world keeps turning and people keep buying new pianos, it has ever been thus, or there would be no used pianos for others to buy. Anyway, that is off topic.

The hedge fund guy says he wants to preserve Steinway. We shall see.

Last edited by LarryK; 06/15/19 02:47 AM.
Re: Steinway selling property to Robert DeNiro for a huge studio
jeffscot #2858978 06/15/19 09:44 PM
Joined: May 2001
Posts: 12,278
Platinum Subscriber
Yikes! 10000 Post Club Member
OP Offline
Platinum Subscriber
Yikes! 10000 Post Club Member
Joined: May 2001
Posts: 12,278
Originally Posted by jeffscot

Rich, not sure why, but your link didn’t work for me. Here’s another link to the article.

https://nypost.com/2019/06/13/pauls...teinway-factory-to-robert-de-niro-group/



Thank you jeffscot.


Rich Galassini
Cunningham Piano Co.
Phila., Pa.
(215) 991-0834 direct
rich@cunninghampiano.com
Visit our Online Store
The Science Channel documents our piano restoration
Re: Steinway selling property to Robert DeNiro for a huge studio
Rich Galassini #2863219 06/27/19 06:03 AM
Joined: May 2001
Posts: 12,278
Platinum Subscriber
Yikes! 10000 Post Club Member
OP Offline
Platinum Subscriber
Yikes! 10000 Post Club Member
Joined: May 2001
Posts: 12,278
This blurb appeared in this month's issue of The Music Trades.

[Linked Image]


It is not new news that hasn't been discussed in this thread already. I thought it was worth posting though.


Rich Galassini
Cunningham Piano Co.
Phila., Pa.
(215) 991-0834 direct
rich@cunninghampiano.com
Visit our Online Store
The Science Channel documents our piano restoration

Moderated by  Ken Knapp, Piano World 

Link Copied to Clipboard
(ad)
Pianoteq
Steinway Spiro Layering
(ad)
PianoDisc

PianoDisc
(ad)
Piano Life Saver - Dampp Chaser
Dampp Chaser Piano Life Saver
(ad)
Mason & Hamlin Pianos
(ad) SWEETWATER Cyber Sale
New Topics - Multiple Forums
The 100 Hardest Piano Concertos
by achoo42 - 11/30/20 06:19 PM
MIDI to USB double output
by lukasz-zsakul - 11/30/20 04:57 PM
Chopin's Nocturne op 27 no.2 vs. op.72 no.1
by RhaegarTargaryen - 11/30/20 03:51 PM
back after 34 years
by JerryLouis - 11/30/20 02:44 PM
Roland FP-30 Bluetooth Connectivity Issue
by Yaboku - 11/30/20 01:08 PM
Download Sheet Music
Virtual Sheet Music - Classical Sheet Music Downloads
Forum Statistics
Forums41
Topics203,171
Posts3,029,031
Members99,437
Most Online15,252
Mar 21st, 2010
Please Support Our Advertisers


Faust Harrison 100+ Steinways

Dampp Chaser Piano Life Saver

 Best of Piano Buyer

PianoTeq Bechstein
Visit our online store for gifts for music lovers

Virtual Sheet Music - Classical Sheet Music Downloads



 
Help keep the forums up and running with a donation, any amount is appreciated!
Or by becoming a Subscribing member! Thank-you.
Donate   Subscribe
 
Our Piano Related Classified Ads
| Dealers | Tuners | Lessons | Movers | Restorations | Pianos For Sale | Sell Your Piano |

Advertise on Piano World
| Subscribe | Piano World | PianoSupplies.com | Advertise on Piano World |
| |Contact | Privacy | Legal | About Us | Site Map | Free Newsletter |


copyright 1997 - 2020 Piano World ® all rights reserved
No part of this site may be reproduced without prior written permission
Powered by UBB.threads™ PHP Forum Software 7.7.4