[Bloomberg TV] Bloomberg Markets 7-6-20: A Busy Housing Market This Summer

July 6, 2020 | 5:17 pm | | TV, Videos |

Had a wonderful, nearly 7.5-minute conversation with Vonnie Quinn on Bloomberg Television’s Markets today discussing how the housing market will likely look over the summer. The interview touched on the analysis in the Douglas Elliman Report series I author.

Some ‘inside baseball’ fun. I was connected to Bloomberg via Zoom from my home for this. If you look closely at the 5:15 mark, you can see my garage door open as my wife drives in. My wife panicked when watching this clip, thinking she would be on TV as she walked out of the garage, but randomly ended up using the other door.


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ABC World News Report 5-2-20 ‘Urban to Suburban’

May 3, 2020 | 9:08 pm | TV, Videos |

If you can indulge me, I was included in the ABC World News Tonight broadcast on Saturday night to talk about the potential urban to suburban housing shift, particularly in NYC. It was cool to be interviewed by Deirdre Bolton for her first World News Tonight segment since just joining ABC via Fox Business and previously from Bloomberg where I had spoken with her before. Great move ABC!


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More Bloomberg Media Hits On Real Estate and the Coronavirus

April 5, 2020 | 2:29 pm | | Podcasts |

If you missed this week’s Housing Notes, here are two Bloomberg clips (from radio and TV) where I break down the state of the market post-Coronavirus:


Bloomberg Radio: Surveillance – ‘Jonathan Miller…details how the housing market is dealing with fallout from the coronavirus.’

I spoke with Tom Keene and Lisa Abramowicz on Bloomberg Radio’s morning show “Surveillance” on the state of the housing market.

The full segment is a great listen. My interview starts at 21:33.


[click image to play]


Bloomberg TV: Markets – ‘Manhattan Home Sellers Hold Back Listings During Coronavirus’

I joined network Vonnie Quinn in New York to talk about the state of the market since the coronavirus hit. She is always wonderful to speak with. The stock photo they used for me was taken about 15 years ago (when I was 15, obviously). At the last second, they had me speak through their London bureau for technical reasons, so each question and answer saw a small delay. The interview was based on this Bloomberg article: Manhattan Home Sellers Hold Back Listings in Coronavirus Retreat:


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Cheddar TV – Looking Back In History (8 Days Ago) To Talk Falling Rates

March 19, 2020 | 1:22 pm | TV, Videos |

Cheddar TV reached out to me on March 11th as I was 4 days into my self-quarantine and my voice sounded quite scary. Aside from bad lighting and a red face, the discussion was long-form in nature covering low mortgage rates, which is why I so appreciate Cheddar’s format.

March 11 was soooo long ago!

Using Skype (which has been improved since Microsoft acquired it to be less of a horror show) I am able to blur out the background so you don’t get distracted by my prized autographed drum head from Lynyrd Skynrd, my 2002 March Madness pool victory plaque and my certificate for passing a 1978 Italian Cooking class in my Dad’s former cooking school in the DMV.


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NY1 Delves Into The Cause of the Manhattan Supertall Skyscraper Boom

January 7, 2020 | 9:27 am | TV, Videos |


[click to see article and play clip]

Enjoyed speaking with Michael Herzenberg of NY1 on the Super Tall story in Manhattan. This is a great summary of the phenomenon.

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Bloomberg Markets 1-6-20: Manhattan High-End Hurt By New Tax Laws

January 7, 2020 | 9:08 am | | TV, Videos |


I joined Vonnie Quinn on Bloomberg Markets to talk about the results of my recent research for Douglas Elliman’s Elliman Report: Manhattan Sales Report Q4-2019. Always enjoy the conversation.

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Bloomberg TV 10-7-19: Manhattan Pivots

October 9, 2019 | 9:12 am | | Podcasts |

I had a nice chat with Vonnie Quinn of Bloomberg Television on Monday concerning the state of the Manhattan housing market, following a highly read Bloomberg article on the terminal covering our Elliman Report results for Q3-2019 as well as a followup on Bloomberg Radio here and here.

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My July 3, 2019 Cheddar Interview on the NYSE Floor

July 6, 2019 | 1:23 pm | TV, Videos |

After the publication of the Elliman Report for Q2-2019 Manhattan Sales, I was asked to join Cheddar anchors Kristen Scholer and Tim Stenovec on the floor of the exchange on Wednesday morning.

When I came through security, the guard at NYSE asked me “when was the last time you visited the NYSE?” and I said, “about 10-12 years ago.” He looked it up to confirm and deadpanned, “I’ll bet you remember that I was the guy that took your picture in 2007, right?!?! He and his colleague and I all had a good hard chuckle over that. Moments like this are what I love so much about my job.

Back in 2007, I was interviewed by Erin Burnett (now CNN) and Mark Haines (sadly passed away in 2011) at CNBC on the balcony overlooking the exchange floor. It was a tight fit on the balcony so I got to sit near the president of the Russian natural gas conglomerate Gazprom and his dozen very large bodyguards. It was very crowded. While he was being interviewed I thought to myself, there is no amount of money in the world I would take to live with that kind of personal risk every single day.

No such worries today. Kristen and Tim were terrific to speak with and I appreciated the invite.


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First Trade on Yahoo Finance TV – State of Housing

June 5, 2019 | 1:40 pm | | TV, Videos |

Its always fun to join Alexis Christoforous at Yahoo Finance TV – and I met her colleague Brian Sozzi. They’ve got a cool new broadcasting facility and I contend, the best green room in the TV business. If you’re curious where the term “green room” came from…no, it’s not that obvious.

We spent most of the time late last week discussing all the changes occurring in the NYC market this year. Fun.


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[Inside Edition TV] The Fifth Avenue Retail Apocolypse?

May 16, 2019 | 1:47 pm | TV, Videos |

Real estate brokerage firm Cushman & Wakefield wrote a research piece on the prime Fifth Avenue retail corridor from 49th Street to 60th Street that was covered in a widely read Wall Street Journal article called Fifth Avenue Losing Luster as Vacancies Climb, Rents Fall. The following chart was in the WSJ article. Luxury real estate here peaked at about the same time.


Inside Edition reached out and asked me to take a stroll with reporter Les Trent on Fifth Avenue to talk about the state of luxury retail. Les was great to speak with and like a true pro, he had access to sidewalk chalk (see video). I think I am in a lot of tourist pictures as they were snapping my picture as we strolled up and down Fifth Avenue.

If you’ll notice in the video and article, all the vacancies were related to the fashion/clothing industries. The 1 out of 4 storefront vacancies – essentially 1 empty storefront on every block – is not reflective of NYC retail employment patterns, but simply the pullback of clothing/fashion industries from high-end retail locations as they place more resources toward their online presence.


[click to play]

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CNBC TV 4-25-19 Coverage of Elliman Reports on Greenwich and Fairfield County, CT

April 27, 2019 | 7:08 pm | | TV, Videos |

Diana Olick at CNBC reached out to me this week to talk about the Q1-2019 Elliman Report on the Greenwich, CT housing market (as well as Q1-2019 Fairfield County, CT) and the impact of the federal tax law on high-end suburban markets in NYC metro.

We spoke on Greenwich Avenue in Greenwich at 8:30 am and had to keep doing segments over because of the random roars of delivery and garbage trucks. The irony was not lost on me – a busy downtown with not a lot of empty parking spaces so early in the morning – combined with a slow housing market. Anecdotal but this is what we are seeing at the macro level – a robust regional economy with soft housing conditions.

We were set up in front of a Vineyard Vines store while I was wearing a bright Ted Baker tie (Hey, I can be a social media style influencer too). The irony in this product placement “ties” this story altogether (in my own mind). I received more feedback about my tie than I did on my content. Oh well. And for the record, Diana made very clear to me that she commented on my tie first.


Here’s the segment that also includes my friend Jennifer Leahy of Douglas Elliman, their number one agent in Connecticut who just sold the massively oversized home of 50 Cent.

New tax laws take a toll on home sales in Connecticut from CNBC.


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Bloomberg TV 3-11-19: The Malling of Hudson Yards

March 11, 2019 | 3:52 pm | | TV, Videos |

For the record, this is the first time I recall using the word “cognizant” on national television. A personal lexicon triumph.

There has been a lot of fanfare about the new Related Companies ‘Hudson Yards‘ mixed-use development being created over the West Side Yard in Manhattan and is connected to ‘The Highline.‘ The centerpiece or “hook” is a $2 billion mall in the middle of the complex. While ‘malls’ are generally a non-starter in Manhattan, there is a successful precedent. The same developer built Time Warner Center at Columbus Circle (southwest corner of Central Park) nearly twenty years ago and it was considered a significant success. I used to live two blocks to the west of Time Warner Center and it was a pretty rough area at the time but that submarket has been significantly upgraded.

Related has pushed out a media blitz on the mall opening this week. It is important to note that NYC gave Hudson Yards more tax breaks than were proposed for Amazon in Long Island City. However, as Barry Ritholtz writes in his excellent comparison between the two deals (LIC v. Hudson Yards) offered by the city. Related seemed to do this deal right and Amazon came across as greedy in the end.

The $3.4 billion dollars committed to parks, subways, etc. in the Hudson Yard project is exactly what the government is supposed to do. You can create incentives for companies to relocate in a way that directly benefits every taxpayer in the region. The incoming company could have burnished their reputation as a good corporate citizen, instead of being perceived as rapacious and greedy.

Here is a rendering of the completed Hudson Yards. I think it looks spectacular. And don’t forget ‘The Vessel.


[Source: DeZeen]

Teachable moment for condo development naming strategies that include a company: Don’t do it.

The Time Warner precedent-setting mall scenario included a condo offering plan circa 2000 named “AOL Time Warner Center” and then the project was renamed “Time Warner Center” after they sold off AOL (Someone named Jonathan Miller took over AOL strangely enough). Deutsche Bank is replacing Warner Media as the anchor tenant in 2021 so the project will be renamed for the new tenant. However, Deutsche Bank has been having its share of financial problems and is considering a merger with Commerzbank. Uh-oh.

Perhaps that’s why Related went with ‘Hudson Yards.’ 😉

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