Appraiser Jonathan Miller, president and CEO of Miller Samuel, joins host Emily Myers to discuss what buyers, sellers, and renters in New York City can take away from the real estate data as we head into 2023. Rents are 15 percent higher than they were before the pandemic but concessions (like free rent given by a landlord to entice someone to sign a lease) are actually starting to rise. Meanwhile, apartment sales have slowed because of rising mortgage rates and uncertainty about the economy.
One tip: If you want to follow sales price trends in NYC you need to look at inventory and months of supply—the metrics that tell us how many apartments are available and how quickly they are selling. When months of supply go above eight and a half, buyers get some leverage.
The Elliman Report (Douglas Elliman)
Demand for doorman buildings keeps NYC rents stubbornly high (Brick Underground)
Nearly a third of sales in Brooklyn went to bidding wars in the third quarter (Brick Underground)
In this episode, we take a look at the biggest New York City landlords you’ve probably never heard of—private equity-backed owners. The number of these investor landlords has increased during the pandemic and when private equity is involved in the purchase of a rental building the outcome is rarely, if ever, positive for the tenants living there. Investigative reporter Hannah Levintova talks with host Emily Myers about what she uncovered reporting on this topic for the national publication Mother Jones.
Hannah Levintova’s work on this topic includes these articles:
Fires and flooded apartments pose risks for New Yorkers, prompting many to ask: How do I stay safe in my apartment? In this episode, Robert O’Brien, co-owner of New York Fire Consultants and a former F.D.N.Y. firefighter talks with host Emily Myers, offering tips on how to minimize fire hazards, find out if our building is up to code, determine if a basement apartment is legal, and where to look for your building's fire safety plan. The episode touches on personal safety issues and gives some reminders about a landlord's responsibility for looking after residents.
If you want to rent in NYC right now, what should you expect? Apartments are no longer sitting empty and the balance of power is tipping in favor of landlords. So how do you get the edge? In this episode of the podcast, Adrian Savino, director of leasing and business development at Living New York, joins host Emily Myers to shed light on where the deals are as landlords pull concessions and raise rents.
In this guide to negotiating, Mike Walker, residential sales manager at R New York, joins host Emily Myers to share some practical tips on how to get what you want when you are buying or selling.
Is it a red flag if a developer has failed multiple building inspections as you go to close on your apartment? What if there's no Certificate of Occupancy? What are you signaling as a buyer if you offer the asking price on an apartment with your initial bid? In this episode of the podcast we discuss your real estate questions as the city’s sales market goes into overdrive. Host Emily Myers is joined by Allison Chiaramonte, an agent at Warburg Realty and attorney Shaun Pappas, a partner at Starr Associates.
Even if you've bought real estate in another city, buying in New York will surprise you. Having to compromise on your purchase when you're spending a million or more is one of the biggest shocks for many. Host Emily Myers is joined by Brick Underground’s managing editor Jennifer White Karp and Kobi Lahav, director of sales at Living New York, to talk about the often awkward, frustrating and always eye-opening process of buying in NYC. The conversation covers the layers of bureaucracy, the legal wranglings, the broker tricks, board politics, and why buying in NYC holds such an appeal.
Trends in the Queens real estate market are similar to Brooklyn—there are fewer listings, lots of sales taking place, and prices are going up. In this episode of the podcast, Compass broker Bianca Colasuonno talks with host Emily Myers about buying and selling in Queens as New Yorkers find themselves less tied to a Manhattan commute. If you’re selling, the condition of your place is more important than ever because buyers want turn-key places that need little work. There are also tips for buyers in an increasingly competitive market.
Does it matter if I don’t get a full copy of the lease returned to me once I've signed it? Can I install a portable washing machine in my rental? What compensation am I entitled to if the only elevator in the building is shut down for maintenance? This episode of the podcast is all about your questions. Host Emily Myers is joined by Corcoran broker Vicki Negron and real estate attorney Steven Kirkpatrick of Romer Debbas to help find solutions to some of the most pressing questions renters and buyers are asking right now.
As many New Yorkers adjust to an infrequent commute and seek out dedicated office and dining space, they are looking to properties in Brooklyn to meet their needs. Townhouses, in particular, have been in demand as buyers prioritize privacy and space. In this episode of the podcast, Douglas Elliman broker Lindsay Barton Barrett talks with host Emily Myers about Brooklyn's resiliency. She has tips for both buyers and sellers—about how to evaluate a purchase and when to time your sale.
Whether you’ve bought in New York City before or this is your first time, the closing process has changed in the last year: We now have video tours, virtual co-op board interviews, and electronic filings. Escrow closings are now the norm, ending lengthy in-person meetings to exchange keys and share certificates. Has buying in NYC become more efficient or more fraught? Real estate attorney Daniel Gershburg, partner at the law firm Konner Gershburg Melnick talks with host Emily Myers about what to expect when you’re buying in NYC right now.
Real estate watchers will know there are deals to be had in sales and rentals in NYC right now—but where exactly? And how do you find them? In this episode, John Walkup, co-founder of the real estate analytics firm UrbanDigs, provides some context for what’s happening in the market right now. He also has advice to buyers about how to identify a motivated seller. What will the long term impact be of shifts in workplace culture and what changes might it bring to the city’s neighborhoods? These are some of the issues explored in this episode of the Brick Underground Podcast.
In this episode we take a look at new development in NYC. It's an ongoing narrative that the city has a glut of brand new luxury condos and the pandemic has compounded the problem, as privacy and outdoor space are prized over tall buildings with shared amenities. What happens now? What kind of deal can you get if you want to buy and what are the challenges you face if you want to sell? Broker Ryan Serhant, CEO and founder of the real estate brokerage SERHANT joins host Emily Myers to share his expertise.
This episode is all about the numbers. Jonathan Miller, CEO and president of real estate appraisal firm Miller Samuel, joins host Emily Myers to map out how the pandemic shifted buyers towards the suburbs and how renters are now being lured back to the city by deals. Is it a good time to buy? How long will rental concessions last? What is the lasting impact of the pandemic on NYC real estate? These are some of the questions explored in this week’s episode.
How are renters currently protected from eviction in NYC? And what happens when those protections end? These are some of the questions explored in this episode of the Brick Underground Podcast. Host Emily Myers talks to Andrew Scherer, policy director at the Impact Center for Public Interest Law and a visiting associate professor at NY Law School about the impact of the pandemic on the city's renters, resources for tenants, what he anticipates happening in the new year and his hopes for more humane housing policies as a result of this year's public health crisis.
When you buy a condo or co-op in NYC, it's important to do everything you can to find out how the building is run. After all, it’s is a big investment—so what are the secrets to a well-run building? What are the typical flashpoints between residents and how are they best resolved? These are some of the questions addressed in this week's podcast with real estate attorney Steve Wagner, partner at the Manhattan law firm Wagner, Berkow & Brandt.
Brick Underground’s "Take It Or Leave It" column is the subject of this week’s podcast. Host Emily Myers is joined by Jennifer White Karp, Brick Underground’s managing editor, and Constantine Valhouli, founder of the analytics firm NeighborhoodX, for a discussion of how to read between the lines of New York City rental listings and avoid getting tripped up by, among other things, illegal bedrooms, slick staging, and confusing rent information.
Commute times have an impact on prices and the hunt for affordable housing means people are living further from their jobs. Host Emily Myers and guest, Sarah Kaufman of the NYU Rudin Center for Transportation, talk about some of the city’s transit challenges—and surprising recent improvements. Plus, what it means to be a smart city, how New York is competing, and what public data collection can do for your housing goals.
To say it’s currently a buyer’s market in NYC is to miss the fact that prices for starter apartments are rising much more than at the high end. Host Emily Myers gets into the details of NYC's current market data with real estate appraiser Jonathan Miller, President and CEO of the firm Miller Samuel, exploring “peak uncertainty” in sales and a “cauldron of unaffordability” in rentals. Plus, we look at what impact the 2020 election might have on NYC sales.