Market report king adds rentals to repertoire

TRD New York /
Jul.July 02, 2009 01:54 PM

The most trusted name in New York City residential real estate statistics, Jonathan Miller, is finally releasing his long-awaited quarterly rental report.

Prudential Douglas Elliman is slated to publish its first-ever quarterly Manhattan rental market overview next Thursday. The report will be prepared by Miller, who is the president and CEO of Miller Samuel.

Miller has authored Elliman’s quarterly reports for real estate sales in Manhattan since 1994. Miller also produces Elliman’s quarterly reports for Brooklyn, Long Island and Queens and the Hamptons/North Fork, and has emerged as an oft-quoted source for residential market data.

The city’s other major brokerage firms, including the Corcoran Group, Halstead Property and Brown Harris Stevens, also release quarterly market reports on residential sales.

But until now, the rentals market has been a much more secretive business. With landlords reluctant to release inventory or financial information, there’s very little market information available to consumers. That has begun to change now that real estate Web site Streeteasy.com and brokerage Citi Habitats and the Real Estate Group New York have each begun compiling rental information, but information about rentals is still spotty. That may change even more now that Miller, who is known for the breadth and specificity of his reports, is turning his attention to the New York City rental market.

“It will give consumers and landlords a better tool to measure market data, and maybe that will help people make more informed decisions,” said Miller, who noted that he has been collecting historical data on the Manhattan rental market for quite some time, but hasn’t gotten around to compiling it in a report form.

When The Real Deal asked for a sneak peak of his second-quarter report, Miller said he couldn’t reveal much. But he did offer this tantalizing bit of information:

“Where do you think all those first-time buyers come from? The rental market.”


Related Articles

arrow_forward_ios
49 East 10th Street and Barbara Corcoran (Credit: Google Maps and Getty Images)

Corcoran to shut down office in building partly owned by Barbara Corcoran

Corcoran President & CEO Pamela Liebman (Credit: Corcoran, Getty Images)

Welcome to Queens: Corcoran opens first borough outpost

Rachel Glazer (Credit: BHS)

BHS’ top Downtown agent jumps to Compass

(Illustration by Charis Tsevis)

Revealed: Corcoran’s “hacked” files

Bill Cunningham and Citi Habitat's Gary Malin. The longtime president of sales is leaving the firm.

Corcoran shakeup: Bill Cunningham out; Gary Malin now COO

(Credit: iStock)

The city’s rental growth is slowing

Realogy CEO Ryan Schneider

To pay off debt, Realogy to sell relocation biz for $400M

Cee Scott Brown and Jack Pearson

A top Corcoran team in the Hamptons bolts for Compass

arrow_forward_ios
Loading...