Latest news with #JonathanMiller
Yahoo
19-05-2025
- Business
- Yahoo
Hamptons Home Sales Soar to Record Highs, With Median Price Surpassing $2 Million — Wall Street Profits and Housing Market 'Joined At The Hip'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. As if the Hamptons weren't expensive enough, home prices in New York's wealthy Long Island enclave have risen to record highs, reaching a median price of $2 million for the first time. Although some Hamptons homes can cost over $100 million, the sweet spot for buyers, according to appraiser Miller Samuel's quarterly report is between $1 million and $5 million. Almost 55% of sales fall into this category. According to the report, Q1 sales were nearly double those of the same time last year, with 420 deals closed compared with 230 in 2024, and a median price of slightly over $2 million. Don't Miss: Inspired by Uber and Airbnb – Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets – With Point, you can Report author Jonathan Miller said that these homes were so popular because buyers felt comfortable taking out a mortgage for them. Hamptons house prices and Wall Street profits are intrinsically bound, with Miller telling the New York Post that they are "joined at the hip." However, that hasn't been the case for pricier properties, which saw a drop in sales last year and have not recovered this year. Homes at the top 10% of the Hamptons sales spectrum saw average prices fall by 11.8% year-over-year, according to the Elliman report. The price drop is not strictly due to the lack of demand, though, but rather an increase in inventory, the report stated. The housing stock increased by 9.7% in the first part of 2024, which reduced bidding wars. "A couple of years ago, inventory was almost non-existent," Miller told The Real Deal. "But demand remained in place, and it's just enabling more sales," he said. Trending: , which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum. Brokerage William Raveis Hampton's & North Fork Q1 market reports stated that 64 homes sold in the Hamptons for between $5 million and $19.99 million in the first quarter, marking an increase of 46% from the 44 homes sold in that price range at the same time the previous year. There were 49 homes sold between $3.5 million and $4.99 million — an increase of 63% from a year earlier. Over the past few months, there have been several high-end listings and sales in the Hamptons. These have included a $25 million East Hampton home that Sylvester Stallone purchased for his daughters and a Sag Harbor mansion "The View" host, Joy Behar listed for $10.95 million, according to of a former executive at the global management consulting firm McKinsey recently listed the family home for $41.9 million, according to The Wall Street Journal. The property sits on 4.4 acres with 260 feet of Hook Pond front—quite an increase from the $170,000 the former owner, Greg O'Block, paid for it in the 1970s. In May 2024, Billy Joel spent $10.7 million on an East Hampton home in an off-market transaction, the Post reported. The legendary musician also listed his Oyster Bay home for $49 million, although not in the Hamptons. Read Next: Invest Where It Hurts — And Help Millions Heal: This Jeff Bezos-backed startup will allow you to . Image: Shutterstock Send To MSN: 0 This article Hamptons Home Sales Soar to Record Highs, With Median Price Surpassing $2 Million — Wall Street Profits and Housing Market 'Joined At The Hip' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
15-05-2025
- Business
- Business Times
Manhattan rents at record highs hint at more increases to come
[NEW YORK] Manhattan's apartment market is heading into its most competitive months of the year with rents already at record highs. They are only likely to continue rising through the summer. The US$4,500 median monthly rate for April's new leases ties the level first reached in February and missed by just US$5 in March, according to appraiser Miller Samuel and brokerage Douglas Elliman. The prices many apartment hunters agreed to pay last month were even higher than what landlords were asking. On average, new leases commanded 2.4 per cent more than the listed price, the largest premium that Miller Samuel has seen in decades of monitoring. Nearly 26 per cent of deals were signed after a bidding war, just short of another high hit in February. Taken together, the measures show a market under severe pressure, where renter demand remains high and very few new units are under construction across the city, especially in Manhattan. Though rents have eased in other parts of the country as US President Donald Trump's tariff wars stir up economic uncertainty, New Yorkers have not hit a ceiling on what they are able to pay each month. 'There aren't any clear signs of relief in the short to medium term,' said Jonathan Miller, president of Miller Samuel. 'There's no endgame to the housing affordability crisis.' Before the pandemic scrambled the Manhattan apartment market, rents were typically 1 to 2 per cent below the asking price and bidding wars were infrequent. Last month, units ranging from studios to three bedrooms all had average lease prices that were 2 to 3 per cent above ask. 'The pricing pressure is broad-based,' Miller said. 'This is not something where we can say it's skewed by the high-end or larger apartments or something like that.' The dynamics in the outer boroughs, which historically have drawn many people priced out of Manhattan, were mixed. In northwest Queens, including Astoria and Long Island City, the median rent jumped 9.4 per cent annually to US$3,550. The median price in Brooklyn was US$3,600, the same as it was a year earlier. BLOOMBERG
Belfast Telegraph
03-05-2025
- Entertainment
- Belfast Telegraph
‘At the heart of this horror, at the heart of all horror, is a riddle'
Adapted for Omnibus from a short story by M.R. James, Jonathan Miller's Whistle and I'll Come to You was shown on television in 1968. I first saw it in a double-billed matinee years ago in an unfamiliar city – it could have been Sheffield. I was intrigued by the title and a chance to escape the summer sun and bask in the cool dark air of the cinema. Now, years later, sitting in a bar in Felixstowe with the rain coming in waves, bouncing off the ground, I typed it into YouTube and found someone had uploaded it. To an ominous shot of a beach, maybe this beach, with a sun more moon than sun, Miller voices a warning that like all good warnings entices. Before long, there was some interference, the video glitched and eventually froze, a buffering wheel going nowhere. I folded the laptop, finished my drink, and watched lightning strike the sea.
Chicago Tribune
28-04-2025
- Entertainment
- Chicago Tribune
Community news: Brookfield Zoo Chicago brings back its Ferris wheel, and more
Brookfield Zoo Chicago has another reason for people to visit this year, because its Ferris wheel has returned. Through Labor Day weekend, when weather allows, patrons can enjoy a five- to seven-minute ride that offers views of the zoo grounds, animal habitats and even the Chicago skyline. The Ferris wheel is 110 feet high and features 24 riding gondolas and multicolored LED lighting. Riders must be at least 32 inches tall to ride the attraction with a supervising companion; anyone 42 inches and taller may ride alone. Tickets are required and cost $8 for children, adults and seniors. The zoo is open from 10 a.m. to 5 p.m. weekdays and 10 a.m. to 6 p.m. weekends. Details are at Free choral concert includes Broadway tunes The Hinsdale Sounds Good Choir presents its free spring concert at 7 p.m. May 6 at The Community House, 415 W. Eighth St., Hinsdale. Concert selections include hits from 'West Side Story,' 'The Wizard of Oz,' 'Hamilton,' 'Oklahoma' and 'Porgy & Bess.' The show will be conducted by Daniel Segner and Jonathan Miller. The event is free and open to the public, and children are welcome. No tickets or reservations are needed. The nonprofit organization Sounds Good Choir is the Chicago area's largest 'no audition' choral program for adults 55 and older and also offers Good Memories for people with early stage dementia and their care partners. Information is at or 630-395-9542. Oak Brook run to raise money for breast cancer patients The Oak Brook Park District Annual Pink 5k Run/Walk steps off at 8 p.m. May 10 the Oak Brook Park District Recreation Center, 1450 Forest Gate Road, Oak Brook. The race, which will be chip-timed through Central Park, is family friendly and teams are welcome. Online registration, which ends May 9, costs $35 per person. Day-of registration fee is $40. Teams, which must be at least 15 people, have a registration fee of $30 per person. All registration fees will be donated to the Hinsdale Hospital Foundation Open Arms Breast Cancer Outreach Fund, which was established in 2011 to help breast cancer patients and their families via free mammograms to women in need because they don't have insurance or it isn't sufficient. Individual packets may be picked up from 4 to 7 p.m. May 8 and 9 at the Family Recreation Center, 1450 Forest Gate Road. Race day pack pickup is from 6:45 to 7:45 a.m. Team captains may pick up packets regular hours May 7 to 9 at the Family Recreation Center by checking in at the front desk. None will be mailed. Information and registration are at Nazareth Academy to host fine arts showcase Fine arts students at Nazareth Academy will present Scenes & Sounds Open House Showcase from 5 to 9 p.m. May 7 at the school, 1209 W. Ogden, La Grange Park. Attendees can explore galleries of student work, meet fine arts faculty and interact with student artists. Musical performances include a choral concert at 6:15 p.m. and a band concert at 7:30 p.m. The event is free. The academy is a Catholic, coeducational, college preparatory high school that serves families from 60 communities, was established in 1900 and sponsored by the congregation of St. Joseph. Information is at 708-354-0061. Oak Park association schedules talk on hunter-gatherer societies A retired medical researcher and urologist interested in evolutionary psychology will discuss recent anthropological findings about hunter-gatherer societies during the Evolution of Human Language, Aesthetics and Free Will at 1:15 p.m. May 4. The program, presented by the Nineteenth Century Charitable Association, takes place in the second-floor ballroom of its headquarters at 178 Oak Forest Ave., Oak Park. Walters has coauthored and written papers about evolutionary psychology. The session is free and open to the public, although donations are appreciated. The association promotes lifelong learning through multicultural programs featuring science, literature, music, art and the social sciences. Information is at
Boston Globe
21-04-2025
- Business
- Boston Globe
What to know about broker fees in New York City
Advertisement Few places outside New York City have systems like this. When broker fees are combined with other up-front costs, such as a security deposit, the price of moving in the city can easily stretch beyond $10,000. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up But the Real Estate Board of New York, an influential industry group that is suing to stop the FARE Act, and many others in real estate say that the new law is unfair and will lead to confusion and higher rents. Here is what to know about broker fees in New York City: Why do broker fees exist? Before sites such as StreetEasy took off over the past decade, renters typically relied on word-of-mouth, "for rent" signs, newspapers and Craigslist to find apartments. Hiring a broker who had access to special listings and familiarity with the housing market could help cut through much of the clutter. Advertisement The fee — usually one month's rent or 15 percent of the annual rent — compensated brokers for their services. Today, with detailed online listings available, many renters believe brokers don't do much. Brokers testified during City Council deliberations over the new law that that's not necessarily the case: They still take photos, acquire floor plans, craft marketing materials, answer renters' questions, set up showings and often even put together the listings renters rely on. Sometimes landlords pay the brokers to create listings, which may be posted as having "no fee" for tenants. In March, roughly 57.5 percent of rentals listed on StreetEasy did not require tenants to pay broker fees, according to the company. Landlords might also distribute information broadly, knowing that brokers will use it to create their own listings. In these cases, brokers might ask tenants to pay. The FARE Act would prohibit this. About 5,800 new leases, on average, were signed in Manhattan each month last year, with more than 40 percent coming over the summer, according to data compiled by Jonathan Miller, president of the appraisal firm Miller Samuel, which tracks lease signings. Who wants to stop the law? Many people in the real estate industry characterize the FARE Act as a poorly worded political stunt designed to pander to renters. They say forcing landlords to pay broker fees will lead to higher rents to cover the fees, making New York City even more expensive. "It's not just a small addition to the rent every month," said Sarah Saltzberg, owner of Bohemia Realty Group, one of the plaintiffs in the lawsuit to stop the law. "It then is compounded over years." Advertisement REBNY, which filed the lawsuit, argues that the city law should be invalidated because the state is responsible for regulating the conduct of brokers. The group also says that it may become harder to find apartments in an already constrained market if brokers stop creating listings with information from landlords because they can't charge tenants a fee. Didn't the state already get rid of broker fees? Sort of. After state legislators passed tenant-friendly rent laws in 2019, a state agency interpreted those laws in a way that barred many tenants from having to pay broker fees. The Department of State found in 2020 that broker fees, which were not specifically mentioned in the 2019 laws, must be collected from landlords unless a tenant hires a broker to find a unit. But REBNY sued in state court, saying that the department had acted improperly, and the fees returned. Who supports the law? The law was crafted by Chi Ossé, a Brooklyn council member whose own frustrating experience hunting for an apartment helped inform the legislation. The City Council passed the law in November, with 42 of 51 council members in favor. Because Mayor Eric Adams took no action on the bill, it became law in December. Ossé said the law would help tenants who were already struggling to afford the cost of living in the city. He acknowledges that, in some cases, the rent might go up, but maybe not as much as real estate industry groups are claiming. "Landlords still need tenants in their homes," he said. "The market is set by what tenants can pay." StreetEasy agrees, saying that its data does not support the idea that rents will rise beyond normal market increases if listings no longer require tenants to pay broker fees. Advertisement The average up-front cost of moving in the city — including a broker fee, one month's rent and security deposit — was nearly $13,000 last year, the most since 2017. Many New Yorkers find it too expensive to move even when they need to. Caroline Burton, general manager at StreetEasy and a vice president at Zillow, which owns StreetEasy, called the law a "major step forward for housing affordability in NYC and a change renters want and need." The law also has the support of New York Gov. Kathy Hochul, who disagreed with REBNY about the conflict with state law. She said in an April statement that "renters should not have to face the burden of paying thousands of dollars up front for an apartment, especially when they often are not requesting the services." So what happens in June? Judge Ronnie Abrams of the Southern District of New York is still considering REBNY's request to halt the enforcement of the law. If the law does go into effect, it might lead to higher rents and less inventory, according to REBNY. Supporters such as Ossé, though, say the bill will make it a lot easier to move. Violators, he said, will be fined, and he is working with the city to think about ways that bad actors might try to work around the law. This article originally appeared in .
