The NYC Downtown Resurgence After 9/11

September 11, 2017 | 9:40 am | Radio |

It’s hard to believe that it’s been 16 years already since 9/11. The name of the attack is now referenced as a noun and every year I think about the events of that day – getting emails from out of state friends and colleagues asking if I was ok, with one asking if I was still alive; Watching the second tower fall; walking to Fifth Avenue and then to Sixth Avenue to see the towers in flames; No cell service; losing all access to public transportation; literally walking northward out of Midtown with throngs of others; getting a lift from my friend’s mom to Westchester county, then borrowing the car to get home to my family in CT; Debriefing with my neighbors who were standing outside like everyone else trying to learn what happened; learning that a parent of my of my son’s classmates was in the tower; hearing stories from neighbors who were talking to someone on the phone in the towers when a plane hit and the line went dead.

It seemed that everything I knew was going away and never coming back. Yet NYC showed me it never quits and I’m proud to be part of it.

Here is my interview with Tom Keene on Bloomberg TV this morning on the resurgence of downtown over the past 16 years.


UPDATE Immediately following the television spot, I walked over to their radio studios and spoke with Tom again as well as David Gura. My interview with Tom Keene and David Gura on Bloomberg Surveillance Radio so click on the graphic below and go to the 10-minute spot:



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VIDEO Nightly Business Report: U.S. Luxury Market Trends

August 6, 2017 | 7:54 pm | TV, Videos |

Diana Olick of CNBC interviewed me on the reason behind the luxury market uptick as a companion piece to her story on the luxury report released by Redfin.

The luxury real estate story starts at 20:58 into the broadcast:


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[Forbes] Penthouse Juxtaposition – What Developer Wants v. What Market Supports

June 15, 2017 | 5:14 pm | TV, Videos |

No one will argue that a $70 million penthouse can be special. But when a penthouse has many open houses and sits on the market for more than a year, it seems reasonable to wonder about pricing.

Samantha Sharf at Forbes presented a great video that juxtaposes the amenities of the apartment with my perspective on the state of the super luxury market and the next possible housing cycle in front of us. When they filmed this in Bryant Park, there were many people standing and watching off camera which was kinda fun despite my serious slouching.


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[In The Media] Bloomberg TV: October 4, 2016

October 6, 2016 | 8:00 pm | | TV, Videos |

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Had a nice chat with Scarlet Fu and Matt Miller on Bloomberg TV, to discuss our 3Q2016 report on the Manhattan residential sales market that I author for Douglas Elliman. We referred to Oshrat Carmiel’s Bloomberg News story on the Manhattan housing market that went viral on the Bloomberg Terminals as the number one read story world wide and the story chart made their “Chart of the Hour” on their home page.

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[Video] Providing the right context for Manhattan and Miami housing markets

April 2, 2016 | 11:48 am | | Favorites |

I really enjoyed my interview over at Yahoo! Finance this week discussing the release of the Elliman Report: Manhattan Sales 1Q 2016. Love their longer interview format.

Note the “two comma” reference taken from the HBO show Silicon Valley:

Miller also rejects the thesis that Manhattan’s two-comma real estate prices were being fueled solely by foreign money and are now jeopardized by global uncertainty and a stronger dollar versus emerging market currencies.

Additional insights on the report shared on the recent edition of Housing Notes. Sign up here.

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[VIDEO] Boomberg Radio/TV ‘Surveillance’ 9-21-15

September 21, 2015 | 11:45 am | Radio |

I was set to speak in studio with Tom Keene and Pimm Fox but had a commuting snafu and had to call in. It was a great opportunity to show a picture of me as a 15 year old. Love these guys. The best. The Bloomberg Television/Radio are clearly pros and handled the last minute change with ease.

We talked about lots of housing markets and the distortion being created by credit conditions.

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[Video] China’s investors and the safe haven of American real estate

August 31, 2015 | 4:10 pm | | TV, Videos |

Here’s a summary of potential future actions by Chinese investors with the recent spate of volatility in the financial markets.

According to Jonathan Miller, president of appraisal firm Miller Samuel, the tumult in China may lead to even more money finding its way into American residential and commercial real estate. “There are not a lot of investment vehicles in China,” said Miller. “You have the [Chinese] housing market, which is a pretty significant bubble. You have thousands of ghost cities that have been constructed. On top of that, you have a pretty volatile stock market situation. So there is some speculation that there actually will be outflow as a result of this and maybe that will end up in the U.S.” Costello concurs with Miller, noting that China’s insurance companies have been allowed by their regulators to invest in foreign real estate only since 2012. “Unless and until they have to cover losses at home, they’re not going to sell these properties,” said Costello. “They’re going to hold them for the long term.”

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[VIDEO] Boomberg TV ‘Market Makers’ 7-27-15

July 27, 2015 | 10:49 pm | Reports |

Had a nice conversion this morning with Matt Miller and Stephanie Ruhle on Bloomberg TV’s ‘Market Makers.’ Never been on this show before. Wow. Energy+.

Before the show started, we had a active debate on whether ‘American Flyers‘ or ‘Breaking Away‘ was the best bicycling movie. Clearly ‘Breaking Away” was the better of the two HANDS DOWN but I liked the other a lot, especially for someone who likes the whole culture of bike racing. Not sure what bike movies had to do with our ‘state of the Hamptons market’ discussion covering our Hamptons market report for Douglas Elliman, but hey, it was obviously more important to settle the bike movie issue first.

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[VIDEO] Fox Business ‘Risk & Reward’ w/Deirdre Bolton 7-27-15

July 27, 2015 | 10:22 pm | TV, Videos |

Always great to swing by and speak with Deirdre Bolton on her Fox Business show “Risk & Reward.” However today’s show was a bit of a mess for me. Working on 4.5 hours of sleep I said I was talking about “interest-free” then changed it to “principal-free” mortgages – LOL – good grief! Note to self: “interest-only.” Plus my company name was reversed 2x and the chyron had it backwards as well. Didn’t discourage me though – always fun to do the show.

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[Video] Yahoo! Finance w/Lauren Lyster 7-6-2015

July 6, 2015 | 2:11 pm | | TV, Videos |

Lauren Lyster put together an interesting piece called: $100 million listings?! Pros explain why this real estate market is hot, but not a bubble that explores the disconnect between this development boom and the housing bubble last decade.

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[Video] NYC Home Shuffle: Housing has been taken over by finance

July 6, 2015 | 12:52 pm | TV, Videos |

A few months ago I was approached by film students Clàudia Prat & Eric French to speak to the housing market as part of a larger project called “What is Home?” series.

I’m a big fan of documentaries and this is worth watching.

Their effort was called: NYC Home Shuffle (5:51 minutes):

Part of a global trend, New York City’s homes become a commodity: an investment instead of a right. Yet a global movement responds.
By Clàudia Prat & Eric French
whatishome.nyc // May 2015

NYC Home Shuffle from Studio 20 on Vimeo.

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[Video] Bloomberg TV w/Mark Crumpton 7-1-2015

July 5, 2015 | 9:08 pm | TV, Videos |

I very much enjoyed my interview with Mark Crumpton on Bloomberg TV last week concerning the state of the Manhattan and U.S. housing markets. Our just published market report for Douglas Elliman revealed a number of records int he 2Q 2015 real estate market.

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