Crain's New York Business | Miller Samuel Real Estate Appraisers & Consultants

[Transition Report] 1Q 2008 Manhattan Market Overview Available For Download

by Jonathan Miller | @jonathanmiller

April 2, 2008 | 12:02 am |

| Public |

Manhattan Bloomberg News Crain's New York Business Curbed New York Times The Real Deal Wall Street Journal Elliman Reports Media Market Reports Adventures in Media & Marketing Douglas Elliman

The 1Q 2008 Manhattan Market Overview that I author for Prudential Douglas Elliman was released today. Other reports we prepare can be found here.

The [data](https://www.millersamuel.com/data) and a series of [charts](https://www.millersamuel.com/charts/index.php?Node=1168392467huPCj) will be uploaded today as well.

An excerpt

…The elevated pace of sales from the past 5 quarters cools as the volatility in the financial markets begins to touch Manhattan. Based on activity in the first quarter it is likely that the record number of sales in 2007 will not be repeated in 2008. Sales in the current quarter declined to levels seen two years ago. The reduction of available credit, less favorable mortgage terms, the national economy moving towards a recession and the specter of additional layoffs in the financial services sector over the next two years has begun to restrain the demand for Manhattan residential real estate. Still, the regional economy is performing well, tourism and hotel occupancy rates are at or near record levels and the New York City government is financially well positioned for the next two years. The US dollar has set new lows against several currencies, which continues to bring new sources of demand, with specific emphasis on condo new development projects….

In 2005, I began posting the links of the coverage of each report to see how each media outlet reports the market using the exact same data. I find it to be an interesting experience.

The media coverage of the report will be provided here as they are released over the week.

Manhattan Apartment Prices Hit Record High Despite Slump [NYT]
Housing Slump — in New York ? [WSJ]
Manhattan Condo, Co-op Sales Decline Most in 18 Years (Update2) [Bloomberg]
Trouble in the sky-rise? [The Economist]
Co-op, condo sales dive in Manhattan [NY Daily News]
Manhattan apartment prices increase [The Real Deal]
Manhattan Home Sales Slow, Prices Rise [AP]
Manhattan apartment prices rise but sales fall [Reuters]
First Quarter Reports: Real Estate Cooling [New York Sun]
Average Manhattan home hits record $1.6 million [CNN/Money]
Manhattan apartments: prices up, sales down [Crain’s]
First Quarter Market Reports: Prices Up, Sales Down [Curbed]
Condos Ascendant! But What Price Victory? [New York Observer]
Manhattan Apartments Remain Pricey, Slowdown Ahead [Gothamist]
NYC home sales drop [Times Leader (PA)]
Housing Market Tracker – It’s About Affordability, Stupid.[Seeking Alpha]
Manhattan Home Sales Slow, Prices Rise [Huffington Post]
Manhattan apartment sales drop off in 1st quarter, but prices still climb due to luxury sales [MN Star Tribune]
Real estate data show market cooling [Metro.US]
Property in Manhattan at an 18 year Low [Investment Markets]
What Slump? Manhattan Housing Prices Hit Record High [NY1]

Radio and TV clips

[April 2, 2008] [CNN en Espanol](https://www.millersamuel.com/press/view.php?V=1207280206RPobj)
[April 2, 2008] [Bloomberg TV](BLOOM_04-02-2008_05.24.29.wmv)
[April 2, 2008] [NY 1](NY1_04-02-2008_07.14.06.wmv)
April 2, 2008] [Bloomberg Radio](https://www.millersamuel.com/press/view.php?V=1207280974HyWIK)

Tags: New York Observer, Radio

2 Comments

Crains New York Business Economic Spotlight Chart – March 2008

by Jonathan Miller | @jonathanmiller

March 24, 2008 | 12:01 am |

| Charts |

Crain's New York Business Media

I have had the pleasure of providing a monthly chart for the Economic Spotlight section of Crain’s New York Business magazine since September 2003. Here is the latest, which appears in the current issue of Crain’s New York Business.

Source: Crain’s New York Business

Go here for a complete archive of my Crains’s New York Economic Spotlight charts that have been published. They are organized by year.

Tags: Crains New York Business

Comments Off on Crains New York Business Economic Spotlight Chart – March 2008

[Miller Samuel Love] Miller Samuel And Radar Logic Part Ways For Now

by Jonathan Miller | @jonathanmiller

March 7, 2008 | 5:54 pm |

| Public |

Crain's New York Business Inman News The Real Deal Housing Indices & Portals Media Adventures in Media & Marketing

Last September I announced in my “Radar Love” post that our Miller Samuel firm was being acquired by Radar Logic. It was an exciting time for my family, my company and of course, me.

I was so confident in the deal being completed by year end that I agreed to assume the role of Executive Vice President and Director of Research before the deal closed. I created the RPX Monthly Housing Market Report, provided my expertise, spoke on behalf of the company on real estate matters and made presentations at conferences.

The end of the year came and went.

I have decided it was best for Miller Samuel to move on.

Our parting with Radar Logic is amicable and I wish them great success. The firm is comprised of brilliant, innovative, hard-working people and I am glad that I had the experience of working with them.

It is a tumultuous time for residential real estate. It is a watershed moment for the appraisal industry, the economy is moving towards recession, the credit markets are in disarray, foreclosures are rising, there is a presidential election that promises much change and most importantly, the iPhone is going to get a lot of cool applications.

In other words, the real estate market actually needs neutral valuation experts more than ever.

Miller Samuel will continue to be an appraisal and consulting firm that many consider the best in the business. We will explore new opportunities, continue to prepare and expand our series of market reports on the New York region and provide housing commentary in a local, national and international context.

More to come and thanks for listening.

Ok, back to work.

Jonathan Miller
President/CEO
Miller Samuel Inc.
Real Estate Appraisers & Consultants

UPDATE (Mar 07, 2008 7:00PM ET): Press release placed on MarketWire by Radar Logic.

UPDATE 2: News coverage:
Miller Samuel, Radar Logic Break Off Engagement [New York Observer]
Miller Samuel backed out of merger with Radar Logic [Crains New York]
Miller Samuel parts ways with Radar Logic [Inman News]
Miller Samuel backed out of merger with Radar Logic [The Real Deal]

Tags: New York Observer

4 Comments

Crains New York Business Economic Spotlight Chart – February 2008

by Jonathan Miller | @jonathanmiller

February 25, 2008 | 12:01 am |

| Charts |

Manhattan Crain's New York Business Development, Construction, Architecture & Land Media

I have had the pleasure of providing a monthly chart for the Economic Spotlight section of Crain’s New York Business magazine since September 2003. Here is the latest, which appears in the current issue of Crain’s New York Business.

Source: Crain’s New York Business

Go here for a complete archive of my Crains’s New York Economic Spotlight charts that have been published. They are organized by year.

Tags: Crains New York Business

1 Comment

[Food & Real Estate] Crain’s Economic Breakfast Forum

by Jonathan Miller | @jonathanmiller

February 15, 2008 | 7:07 pm |

| Public |

Manhattan Long Island Crain's New York Business Public Speaking

Last week I gave a recap an overview of the New York region at a recent Crain’s Economic Breakfast Forum at the New York Hyatt.

Click here for a 5 minute clip of the one hour session.

Tags: Crains New York Business

Business As Usual+: Miller Samuel Is To Be Acquired By Radar Logic

by Jonathan Miller | @jonathanmiller

September 27, 2007 | 9:00 am |

|

Bloomberg News Crain's New York Business Inman News New York Times The Real Deal Housing Indices & Portals Douglas Elliman

Its an exciting day for all of us at Miller Samuel.

Our firm, which has been tirelessly providing unbiased appraisal reports and market studies since 1986, is being acquired by Radar Logic, the data and analytics company enabling derivatives trading in the RPXâ„¢ market based on daily prices for residential real estate.

We are “business as usual”

Miller Samuel will continue to be a real estate appraisal and consulting firm.
We will continue to prepare our market report series for Prudential Douglas Elliman.

Whats new?

We will be able to leverage our valuation and market reporting expertise with the groundbreaking data analytics pioneered by Radar Logic.

Stay tuned!

Press release [pdf].
Press Release [Market Wire].

Update:

Wonderfully complimentary blog posts:

A Champion reigns [Property Grunt]
Radar Logic to Acquire New York Real Estate Appraisal Firm Miller Samuel [Sellsius]
Radar Love for Miller Samuel [Altos research]

News stories:

Miller Samuel, Appraiser, to Be Sold to Radar Logic [Bloomberg]
Radar Logic to buy Miller Samuel [The Real Deal]
Miller Samuel acquired by Radar Logic [Crains]
Radar Logic acquires Miller Samuel [Inman News]

18 Comments

Crains New York Business Economic Spotlight Chart – September 2007

by Jonathan Miller | @jonathanmiller

September 24, 2007 | 12:01 am |

| Charts |

Crain's New York Business Media

4 Year Anniversary Special: This is chart no. 49… and so begins my fifth year producing them. Its been four years of graphics bliss with ideas for many more in the future.

I have had the pleasure of providing a monthly chart for the Economic Spotlight section of Crain’s New York Business magazine since September 2003. Here is the latest, which appears in the current issue of Crain’s New York Business.

Source: Crain’s New York Business

Go here for a complete archive of all Crains’s New York Economic Spotlight charts that have been published. They are organized by year.

Tags: Crains New York Business

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