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Time to read [5 minutes] Starbucks’ Manhattan store closures reflect corporate strategy and lease flexibility, not weakening local housing markets, which remain marked by rising prices and rents. Specialty grocers and retailers like Starbucks, Whole Foods, and Trader Joe’s do not cause gentrification; they identify and enter areas already trending upward. These companies succeed by anticipating...
Time to read [8 minutes] Takeways About onethird of Manhattan condo resales sold for less over the decade, which is a typical outcome in stable markets. Many submarkets can show annual losses even when overall prices remain flat. Negativity bias drives market narratives; longterm data reveals limited real price gains in many cities. A recurring misunderstanding by many observers of housing...
Time to read [6 minutes] Takeways The leading NYC mayoral candidate proposes a rent freeze for over 1 million rentstabilized apartments, but more rentals are openmarket and would not benefit. Freezing rentstabilized rents pressures landlords to raise openmarket rents to cover growing operating costs, likely fueling rent hikes. Strict rent controls and removed renovation incentives risk pushing...
AI Is Here AI Is Over Hyped AI Is Not Going Away Time to read [7 minutes] I'm laying out some basics here and not recapping what AI is being used for in residential real estate. As someone who liked to live on the bleeding edge of technology, I always had to get the first iteration of something new, like the first iPhone on the day it was first launched. I always downloaded beta software updates...
Time to read [7 minutes] Takeways The Surfside tragedy exposed the danger of underfunded condo maintenance and led to passage of Florida’s Building Safety Act Developers initially viewed these aging buildings as buyout opportunities for teardown and redevelopment, but the Florida Supreme Court strengthened holdout owners’ rights Developers now face elevated legal and financial risks, while owners...
Time to read [5 minutes] Takeways Using our data, Manhattan and Orange County listings sold faster than their decade averages, while Miami was equal to the longterm norm. Focused on the last list price before closing with the understanding that excessive listing discounts correlate with longer selling times Sellers who overprice are typically seen as unreasonable, causing listings to linger and...
Time to read [4 minutes] Takeways Corporations pushing aggressive returntooffice (RTO) mandates often have underlying financial motives. Office market dynamics show a “flight to quality,” with only toptier Class A buildings performing well while many older assets face severe value declines. The remote and hybrid work shift is a lasting labor evolution, and evaluating the quality of sources on the...
Time to read [6 minutes] Takeways The Pierre’s penthouse, owned by the US Commerce Secretary, has remained empty for eight years, reflecting ultrawealthy property holding power despite the steep costs. A proposed $2B building sale would evict all shareholders after compensation, fueling backlash and highlighting coop owner vulnerabilities. The Pierre represents a rare coop hotel model in...
Time to read [4 minutes] Takeways Maxwell House’s temporary rebrand to Maxwell Apartment highlights how the housing affordability crisis now shapes major consumer marketing. The campaign, at first glance seen as a hoax, shows that rental living has become a central theme in public discourse. With a third of U.S. households renting, brands are targeting affordability concerns to connect with...
Time to read [5 minutes] In addition to my duties as the author of the Douglas Elliman market reports for the past 31 years and CEO/CoFounder of Miller Samuel Real Estate Appraisers for the past 39 years, these Housing Notes have been the place where I share insights derived from these efforts since 2015. Today, I am pleased to announce that I am part of a new venture in addition to my existing...
The post 9-2025: Manhattan Months of Supply by Price (By Region) first appeared on Miller Samuel Real Estate Appraisers & Consultants. [...]
![[Podcast] Episode 4: What It Means With Jonathan Miller](https://millersamuel.com/files/2025/04/WhatItMeans.jpeg)
Episode 4 is out! I touch on the 2 scandals coming out of the Appraisal Institute and more on tariffs. I spoke at a new development real estate event in [...]
