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Explainer
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I recently completed a quick interview with Stuart Elliott, Editor In Chief & CEO at The Real Deal who asked me questions with a uniquely mellow intensity. The Real Deal is required reading for anyone in the real estate profession or interested in real estate. Fun.
Tags: The Real Deal, Stuart Elliot, Youtube, Quick Question
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TV, Videos
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I stumbled across this clip taken at the recent New Development Showcase hosted by The Real Deal. The publisher and founder, Amir Korangy, pulls off a couple of well-timed video-bombs!
This video gives you a good sense of the excitement, if not frenzy in the residential development space in New York City. There was a long line of people waiting to enter the venue for the event when I arrived.
Tags: TRDForum, New Development Showcase, Luxury Listings NYC, TRD, The Real Deal
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Public
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[click to see full flyer as pdf]
They’re expecting 2,000 attendees! You can sign up here.
I’m looking forward to it.
Tags: The Real Deal, TRD, Luxury Listings NYC, New Development Showcase
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Reports
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Knight Frank released their new report exploring the floor level premium in London’s high-rise residential developments with the coolest report name ever: Knight Frank Tall Towers Report 2012
While NYC has a taller residential housing stock than London but the premium per floor is similar. London shows a 1.5% increase in value per floor. My rule of thumb for Manhattan has been 1% to 1.5%, but closer to 1%. However we treat floor level as a different amenity than view and that’s probably the reason for the slightly larger adjustment in London. What’s particularly of interest is how much more the per floor cost of development is for higher floors:
Net to gross area ratios in tower schemes are lower, since the percentage of space taken up by the cores and service provision areas are comparatively high. This means that the effective revenue-generating 43% Uplift in construction costs per sq ft between the 10th and 50th floor.
I’ve explored the subject myself in New York Magazine and The Real Deal Magazine.
Tall Towers Report 2012 [Knight Frank]
Manhattan Values By Floor Level [Matrix/New York Magazine]
The cost of a view [The Real Deal]
Tags: The Real Deal, New York Magazine, London
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TV, Videos
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Watch Treasures of New York: Building Stories on PBS. See more from THIRTEEN Specials.
If you missed this show on TV, it is now available in its entirety online. It’s an excellent collaboration between WNET/THIRTEEN and The Real Deal on the noted architect. I loved the way the assemblage of development air rights – basically a high stakes secret chess match – was presented.
Note to self: ask Amir Korangy, TRD’s publisher to do a doc on me someday – it would be brief, boring and attract little interest, but hey, who wouldn’t want their own doc?
Tags: The Real Deal, Costas Kondylis, PBS, Amir Korangy
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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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