[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.
Tags: NY1, skyscraper, Super Talls, Michael Herzenberg
Matrix Blog
Posts Tagged ‘Super Talls’
NY1 Delves Into The Cause of the Manhattan Supertall Skyscraper Boom
Billionaires Row Continues to be Challenged
It’s been no secret that super luxury Manhattan sales have been the hardest hit segment of the market since 2014. The slowdown is related to the oversupply of new development created from the vast amounts of capital looking for a home since the financial crisis. Perhaps the most famous representation of the super-luxury market has been “Billionaires Row” centered on 57th Street in the heart of Manhattan’s central business district in Midtown Manhattan. The introduction of supertalls to the skyline has provided never before expansive views to the buyers.
I was asked by the New York Post to provide a snapshot of this submarket. Since contract data is not public record and is easily manipulated, I estimated the state of the key buildings as best I could, using ACRIS for closed sales, Streeteasy contract tags, and feedback from market experts in and around the brokerage community. The result was really no surprise to anyone in the real estate business but because it was concentrated in one place, the story went viral. Curbed wrote a good follow-up as well.
Tags: StreetEasy, Contracts, Billionaires Row, Super Talls, ACRIS
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Bloomberg TV’s Surveillance on 12-31-2015
December 31, 2015 | 8:00 pm |
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On the last day of 2015 I was invited to guest host for the 6am hour on Bloomberg TV’s Surveillance with Mike McKee, Vonnie Quinn & Erik Schatzker. I was paired with Michael Holland, Chairman at Holland & Co. I’ve never met him before but really enjoyed his insights on the stock market.
The first segment was largely stock market talk which was out of my bailiwick but in the second segment I got to articulate my views on the New York City super luxury market. Today’s Max Frankel New York Times editorial was brought up – “Make Them Pay For Views” – which I thought was a ridiculous premise – despite the legendary author.
And a second segment talking about professional services used for acquiring assets.
After the hour was up, I ran over to Bloomberg Radio’s Surveillance with Mike McKee (at 33 minute mark) [Listen to clip]
Gotta go. The Spartans are playing in the Cotton Bowl now.
Tags: Max Frankel, Michael Holland, guest host, Mike McKee, Super Talls, New Development Sales, Vonnie Quinn, Bloomberg Radio, Erik Schatzker, Bloomberg TV
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Billionaires’ Row: I Can See For Miles And Miles, Until You Can’t
December 21, 2015 | 2:12 pm |
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UPDATE: The following article made the front page of the NYT today, my 13th A1 appearance (but who’s counting?).
New York Times’ Matt Chabin writes a piece about the “Super Tall” phenomenon on Manhattan’s West 57th nicknamed “Billionaires’ Row” called Developers of Manhattan Spires Look Past 1,000-Foot Neighbors.
“It’s like the Who song,” said Jonathan Miller, president of the appraisal firm Miller Samuel. “You can see for miles and miles and miles. Until you look into your neighbor’s building.”
The changing skyline is a well worn and controversial discussion throughout much of Manhattan’s storied (pun intended) real estate history. It’s quite amazing to appreciate how much the skyline has changed over the past century, nearly always moving taller. In the current iteration of growth, the potential benefit seems to be the financing of affordable housing.
Tags: Matt Chaban, building height, views, West 57th Street, Super Talls, A1, Billionaires Row
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Top 10 Manhattan Apartment Super Talls, 2 are in Hudson Yards
August 23, 2015 | 7:45 pm |
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Crain’s 2015 annual analysis of a wide range of NYC data is worth a look. Get to know the biggest city in the U.S.
Top 10 Manhattan Residential Tallest Towers
Affordable Housing Units Built
DeBlasio administrations meets it’s annual goal of building 8,000 annual affordable housing units – the highest total ever tracked (began in 2008).
Tags: Super Talls, Hudson Yards
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About Jonathan Miller
Jonathan Miller is President and CEO of Miller Samuel Inc., a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut, performing court testimony as an expert witness in various local, state, and federal courts. He holds the Counselors of Real Estate (CRE) designation, is an Appraiser “A” Member of the Real Estate Board of New York, and is a member of RAC.
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Columns by Jonathan Miller
Forbes ('20-)
Appraisersblogs ('17-)
'Three Cents Worth' column 3CW ('05-'16)
When Curbed was acquired by Vox, my eleven years of 3CW chart art and column links were broken on Curbed NY, Curbed DC, Curbed Miami, Curbed Hamptons, Curbed LA, and Curbed Ski.
Many of my 3CW charts can be found here:
Curbed 3CW Full Chart Archive
Op-ed column ('14-'15)
'Economic Spotlight column ('03-'09)
New York Times experiment ('08-09')
Huffington Post (09')
Favorite "How to Value" Posts
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