Matrix Blog

Charts, Maps, Images, Infographics, Video

January 2019 YOY% Change in Manhattan Co-op/Condo Listing Inventory

February 7, 2019 | 1:53 pm | Charts |

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Bloomberg TV 1-17-19: The Northeast to South Florida Housing Market Connection Explored

January 21, 2019 | 1:03 pm | |

Just before I stepped on the set, I got to look at the Bloomberg file photo taken at my office about 15 years ago (I think I’ve aged gracefully) but I was also called out for it.

Was the last time you were on Bloomberg Markets 1995? That headshot…— Hiten Samtani (@hitsamty) January 17, 2019

Here’s the interview along with a cameo by Sam Zell, lol!



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Nightly Business Report/CNBC: January 3, 2019, Manhattan Housing Trends

January 5, 2019 | 9:25 pm | | TV, Videos |

After I finished the Yahoo Finance interview last Thursday, I ran over to 30Rock and taped a segment for Nightly Business Report/CNBC on our Elliman Manhattan report release. Robert Frank, the wealth editor for CNBC, interviewed me remotely. These are pretty fun to do, especially because to get there, I have to walk next to Christmas Tree, Rockefeller Ice Rink and finally “The Tonight Show Starring Jimmy Fallon” set.





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Bloomberg Markets TV: December 18, 2018, Amazon HQ2

December 18, 2018 | 3:08 pm | | TV, Videos |

As always, I had a wonderful conversion with Vonnie Quinn, anchor of Bloomberg TV’s Markets today. It was a long interview where we discussed national and NYC metric trends. The following portion covered the Amazon HQ2 story in Long Island City, NY.

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Elliman Magazine Winter 2019 – Market Update

December 14, 2018 | 3:18 pm | | Charts |

The Winter 2019 Issue of Elliman Magazine was just released. I provided a two-page spread showing various market tidbits on random U.S. markets where Douglas Elliman has a footprint. The magazine is well done and a good aspirational read.



[click to expand]

Here’s the full online version of the magazine:

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Manhattan Residential Vacancy Rate Isn’t Seasonal?

December 13, 2018 | 1:01 am | Charts |

Since housing market trends are all about seasonality, I thought it was interesting that the Manhattan residential vacancy rate seems devoid of such patterns.

What am I missing here?

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Bloomberg Markets Interview: July 10, 2018, Manhattan Housing Market

July 11, 2018 | 9:07 am | | TV, Videos |

I enjoyed my sit down with Vonnie Quinn and Shery Ahn on Bloomberg Markets yesterday. The discussion focused on the release of the Elliman Report: Q2-2018 Manhattan Sales that I have authored since 1994 and the Bloomberg story that covered it.

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Elliman Magazine Spring Edition – 5 Charts

April 15, 2018 | 4:10 pm | | Infographics |

Every seasonal edition, Douglas Elliman Real Estate asks me to provide a visual market update for their magazine in any 5 of the markets they cover nationwide. The following graphic is found in their latest Elliman Magazine.

Click on the following graphic to see my charts in all their majesty.

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The Full Nelson: Tax Reform Impact on Residential and Commercial Real Estate

January 28, 2018 | 9:03 pm | TV, Videos |

James Nelson, a commercial broker powerhouse who just moved from Cushman & Wakefield to Avison Young, came to my office and interviewed me on the new federal tax law and related subjects for his Globe Street blog column called “The Full Nelson“.


[click on image to watch interview]

He provided NYC sales volume data for all NYC boroughs but Staten Island – and I combined it with the residential data we collect to see how the real estate types compare side-by-side.


[click to expand]

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2017: The Year The 2015 Manhattan Market Shift Became Conventional Wisdom

January 1, 2018 | 11:00 am | | Charts |

After controlling the Manhattan housing market for quite a while, sellers and landlords exchanged roles with buyers and tenants circa 2015.

After peaking in 3Q 2015, the market share of bidding wars fell by two thirds. Bidding wars remain more common at lower price points. After bottoming in the 3Q 2015, the market share of rentals with landlord concessions has expanded sharply due to high-end rental development over-building. But like the sales market, the oversupply remains at the upper end.

Aside

Sunday, December 31, 2017, was a trifecta of my New York Times Real Estate market insight goodness before the year ended:

Landlords and Sellers Adjust [New York Times: Calculator column]

Manhattan Prices Stable in 2017, Even as Luxury Takes a Breather [New York Times: Big Ticket column]

Ditching the Tub [New York Times]

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One57 Flip Analysis From Manhattan’s Peak New Development

November 15, 2017 | 4:47 pm | | Articles |

For those of you that read my weekly Housing Notes, you’ll know I refer to 2014 as “Peak New Development” for the Manhattan housing market. “Peak Luxury” works as a label too.

Bloomberg news broke the story that a $50M+ condo purchased in 2014 just sold at a foreclosure auction for $36,000,0000. There were five bidders. It’s been the fourth resale since the market peaked and the sixth overall – so I created a graphic of all the resales to show how they fared before and after the 2014 “peak.”


The Bloomberg story (that I got to chime in on) lays out the details of the One57 auction sale: One57 Foreclosure Shatters Price Dreams at Billionaires’ Tower

The story reached #1 as the most read on the 350k± Bloomberg Terminals worldwide yesterday.


It is important to remember that there are still a fair amount of units remaining that are priced at 2014 levels. Extell, the developer, has their work cut out for them to compete with current market conditions.

While One57 is a symbolic poster child for the new dev phenomenon, it is not a proxy for the entire new development market. Some projects were priced more reasonably at the peak, hence they haven’t fallen as much. In addition, the quality and design of each project can vary greatly. One thing is clear – since the 2014 peak, investors don’t have the same potential for big and fast returns on flips – their initial strategy was to buy early and realize instant equity as the sponsor increased the offering prices. That scenario no longer applies. Since the market has more choices for buyers now than it did back during peak, One57 is no longer seen as a “new” building like it was back then.

CNBC picked up the story – My firm and I get a shoutout during the conversation on Sqawkbox which was pretty cool.

Luxury condo in One57 tower sold in New York City’s biggest ever foreclosure auction from CNBC.

And here’s the transcript on yesterday’s PBS Nightly Business Report show (owned by CNBC) with the shoutout that is making the rounds.

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On Bloomberg TV: What’d You Miss? 10-5-2017

October 5, 2017 | 8:25 pm | | TV, Videos |

I had a fun conversation on Bloomberg Television with Scarlet Fu, Joe Weisenthal and Julia Chatterley. We were discussing the results of our research behind the Elliman Report: Manhattan Sales 3Q17 that was just released. Here is the Bloomberg story on the report results.

Here’s a portion of the interview.

If you’d like to see the whole segment, my interview starts at the 48:40 mark although I really like the format and the hosts so you might want to watch the whole show.

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