Latest / Sid & Friends In The Morning / Suzanne Miller | Red Apple Media Podcast Host | 05-14-26

Transcript

Suzanne Miller | Red Apple Media Podcast Host | 05-14-26 · Sid & Friends In The Morning

• 0:00
  Speaker 1: Do you know Ken Griffin, mister President, I do, I do.
• 0:04
  Speaker 1: I figured you did, because he's a very successful man,
• 0:07
  Speaker 1: a great man, just like you. And he wants to
• 0:09
  Speaker 1: do a six billion dollar project right here on Park Avenue.
• 0:12
  Speaker 1: And who does Park Avenue more than you? And you've
• 0:15
  Speaker 1: got the mayor, this guy outside of his residence, and
• 0:18
  Speaker 1: he does a whole film and Ken Griffin goes above
• 0:21
  Speaker 1: and beyond the fact that he just humiliated me. And
• 0:23
  Speaker 1: I'm a billionaire looking to spend money in New York City.
• 0:25
  Speaker 1: It's unsafe. He's doing a video from the front of
• 0:29
  Speaker 1: where I live. And now Ken Griffin is thinking about
• 0:32
  Speaker 1: taking that six billion dollar project for a city, President Trump,
• 0:35
  Speaker 1: that's five point four billion in debt and taking that
• 0:38
  Speaker 1: to Miami. How does that make sense?
• 0:41
  Speaker 2: Well, I did know Ken, and Ken's an amazing businessmen,
• 0:44
  Speaker 2: one of the best, and you don't want a losebie.
• 0:45
  Speaker 2: He also pays a lot of taxes like me, We
• 0:48
  Speaker 2: pay a lot of taxes. And you know what, when
• 0:50
  Speaker 2: you lose, When you lose people like that, it's sort
• 0:54
  Speaker 2: of not recoverable. I'll always just say something's recoverable, right,
• 0:59
  Speaker 2: but it's not comfable. Then they build something else. They've
• 1:01
  Speaker 2: got to be there for thirty years. They don't come back,
• 1:04
  Speaker 2: and you've got to do the opposite. You've got to
• 1:08
  Speaker 2: cherish them. You got to bring them to the office,
• 1:10
  Speaker 2: you got to meet them, you have to have dinner
• 1:12
  Speaker 2: with him. You have to convince them not to leave.
• 1:14
  Speaker 2: You're gonna make their life great. You're gonna help them
• 1:17
  Speaker 2: with their building, with their project. You got to do it.
• 1:19
  Speaker 1: And I don't know. Somebody who gets it is a
• 1:23
  Speaker 1: lady who does a great podcast here every week. It's
• 1:25
  Speaker 1: really great, the Miller Report. She's involved in real estate.
• 1:29
  Speaker 1: She knows people like Ken Grippin. Basically the heartbeat of
• 1:32
  Speaker 1: the city. That six billion dollar project is even more
• 1:36
  Speaker 1: because it's about twenty thousand jobs. Those people have to
• 1:39
  Speaker 1: go eat. That means restaurant money. Something need to stay
• 1:42
  Speaker 1: here in hotels. That's hotel money. So the money for
• 1:46
  Speaker 1: a job like that for a city that's five point
• 1:48
  Speaker 1: four billion dollars in debt, is great. And this mayor
• 1:53
  Speaker 1: is trying to screw it up with this second home
• 1:56
  Speaker 1: tax I can't say it in French, you can, Susanne
• 1:58
  Speaker 1: Suzanne Miller. What is the name of this in French?
• 2:01
  Speaker 1: And why would anybody want to do that to a
• 2:03
  Speaker 1: guy like Ken Griffin.
• 2:05
  Speaker 3: Well, first of all, it's called Pierre deterire tax and
• 2:09
  Speaker 3: the term is a foot in the land is a
• 2:11
  Speaker 3: French term. You know, nobody's talking about what's actually happening
• 2:15
  Speaker 3: now in Citadel. So right now, there's about six thousand
• 2:17
  Speaker 3: employees in New York. Actually, I have sixty moving into
• 2:21
  Speaker 3: one of my buildings for the summer. So they are
• 2:24
  Speaker 3: their huge company. We don't want to make them leave.
• 2:27
  Speaker 3: The issue is that I think the math is for
• 2:29
  Speaker 3: every person that makes one hundred and fifty thousand dollars,
• 2:32
  Speaker 3: if they leave, we lose seven jobs. We lose restaurants,
• 2:36
  Speaker 3: we lose ubers, we lose shopping, we lose seven people
• 2:40
  Speaker 3: will lose jobs because of this. So it's so important
• 2:43
  Speaker 3: that we keep people here. But Sid I cannot make
• 2:47
  Speaker 3: ends of this because the truth of the matter is
• 2:49
  Speaker 3: New York is too big to fail. I listen to
• 2:52
  Speaker 3: you every morning, I'll wake up to your wonderful voice,
• 2:55
  Speaker 3: But I'm running. I'm listening to the actual numbers of
• 2:57
  Speaker 3: real estate, and New York is still doing very well.
• 3:02
  Speaker 3: In May of this year, thirty six apartments went above
• 3:06
  Speaker 3: five million dollars in the last two weeks. Ninety nine
• 3:09
  Speaker 3: percent of units that were on the market in the
• 3:12
  Speaker 3: last year sold at asking price, and thirty six percent
• 3:16
  Speaker 3: went above asking price. So this whole like we're losing
• 3:20
  Speaker 3: New York. Yes, we cannot lose the wealthy, and I
• 3:22
  Speaker 3: feel very attacked. But New York is I'm hoping, and
• 3:26
  Speaker 3: I think it's too big to fail.
• 3:27
  Speaker 1: I'm wondering though, some of those apartments you're talking about
• 3:30
  Speaker 1: that big money. Is that American money though? I'm just
• 3:33
  Speaker 1: curious because that matters to me.
• 3:35
  Speaker 2: Now.
• 3:35
  Speaker 1: If you're telling me that these apartments are selling for
• 3:37
  Speaker 1: all this money and some guy from Japan and some
• 3:39
  Speaker 1: guy from Cutter buying these buildings of these apartments, I
• 3:43
  Speaker 1: should say, then that doesn't help us necessarily. Is this
• 3:46
  Speaker 1: American money?
• 3:47
  Speaker 3: I think it's a mixed I think you have a
• 3:49
  Speaker 3: lot of his rallies coming here. You still have Chinese buyers,
• 3:51
  Speaker 3: we still have Russian buyers. New York is still New York.
• 3:54
  Speaker 3: But if you get the field, Like yesterday, I was
• 3:56
  Speaker 3: talking to somebody in a restaurant. He was like, I
• 3:58
  Speaker 3: have a place on Fifth Avenue, have a place on
• 4:00
  Speaker 3: Fisher Island. I have a place in Hawaii. Now I
• 4:03
  Speaker 3: want to think twice. If I want to keep my
• 4:05
  Speaker 3: place in New York, what's it worth? And I'm getting
• 4:07
  Speaker 3: these kind of phone calls all the time because people
• 4:10
  Speaker 3: are it's not the money, it's not the Pieta tear
• 4:13
  Speaker 3: tax because that's not going to affect It's only eleven
• 4:15
  Speaker 3: thousand people that are affected here, and up to five
• 4:18
  Speaker 3: million there is no tax, so it really kicks in
• 4:21
  Speaker 3: A ten million it's one percent, and a twenty five
• 4:23
  Speaker 3: million it's four percent capped. So yes, the numbers will
• 4:27
  Speaker 3: It could be a million dollars if it's twenty five million.
• 4:29
  Speaker 3: But the whole tax assessment is it's antiquated because they're
• 4:33
  Speaker 3: not looking at purchase price, they're looking at projected rental income,
• 4:37
  Speaker 3: which is completely backwards anyway. But the issue is psychological
• 4:42
  Speaker 3: warfare that we don't want the wealthy to be here.
• 4:45
  Speaker 3: We're saying goodbye, We're saying we don't want you. We're
• 4:48
  Speaker 3: not catering to the people that are giving people jobs.
• 4:51
  Speaker 1: Is some of the success, so that is happening in
• 4:54
  Speaker 1: your market. You talked about this last time, and you
• 4:57
  Speaker 1: said that some of the credit has to go to
• 4:59
  Speaker 1: the the prior administration Howard Adams. So that's still going.
• 5:04
  Speaker 1: You said you're not gonna really feel in your business
• 5:06
  Speaker 1: to real estate market, You're not going to really feel
• 5:08
  Speaker 1: the pain of Mam Donnie till maybe next year.
• 5:11
  Speaker 4: Well, it's like, good, look at Citadel.
• 5:12
  Speaker 3: He built this building not during Mom Donnie's tenure, it
• 5:16
  Speaker 3: was before all of these office and a lot of
• 5:18
  Speaker 3: dry things that are driving this are the hot office market.
• 5:22
  Speaker 3: So you have the luxury office market, the flight to
• 5:24
  Speaker 3: quality at zero percent vacancy. So they're all here already.
• 5:29
  Speaker 1: Now.
• 5:30
  Speaker 4: Yeah, I laughed.
• 5:31
  Speaker 3: Somebody said to me last night, you got to look
• 5:33
  Speaker 3: out for Dallas because Dallas is going to be called
• 5:36
  Speaker 3: y'all Street.
• 5:37
  Speaker 4: Have you heard of y'all Street?
• 5:38
  Speaker 1: Yeah, I know Wall Street's going to Dallas.
• 5:39
  Speaker 2: Yeah.
• 5:40
  Speaker 3: There's more employees right now from JP Morgan in Dallas
• 5:44
  Speaker 3: than on Wall Street. So yes, we have to look
• 5:46
  Speaker 3: at all of that. But New York is four hundred
• 5:48
  Speaker 3: years old. Is four years or eight years of a
• 5:51
  Speaker 3: mayor going to change the city. I'm hoping not. I'm
• 5:53
  Speaker 3: not betting on New York. I still think it's going
• 5:55
  Speaker 3: to be fine. I am alarmed. I'm alarmed because I'm Jewish.
• 5:59
  Speaker 3: I'm alarmed because I'm in real estate. I'm alarmed because
• 6:01
  Speaker 3: they get calls every day. People nervous, Well they actually leave,
• 6:05
  Speaker 3: I'm not sure, but they're nervous and they're thinking twice.
• 6:08
  Speaker 1: So what is your cell to keep them here? What
• 6:10
  Speaker 1: you just told me that Hey, we've been around a
• 6:12
  Speaker 1: long time and four years of one guy who's not
• 6:14
  Speaker 1: going to kill us. But more from an economic standpoint, right,
• 6:18
  Speaker 1: like you just explained, with doing pretty well, don't pretty well?
• 6:20
  Speaker 5: Well?
• 6:20
  Speaker 3: The rentals are doing well too, because people want to
• 6:22
  Speaker 3: be in New York no matter what it is, they
• 6:25
  Speaker 3: want to be in New York City.
• 6:26
  Speaker 4: People don't want to give up on it. We've survived
• 6:28
  Speaker 4: so many things.
• 6:29
  Speaker 1: And I tell, for example, this kid right here, she
• 6:31
  Speaker 1: lives in South Florida.
• 6:32
  Speaker 4: Do you want to be in New York? You got
• 6:33
  Speaker 4: to come back?
• 6:34
  Speaker 3: Well, you're not going to be in Florida in May, June, July, August,
• 6:37
  Speaker 3: and September unless you're buying in the Hamptons.
• 6:40
  Speaker 4: And I think.
• 6:40
  Speaker 3: People love New York. The thing is we're true New
• 6:43
  Speaker 3: York Is we love the city. We don't want to leave.
• 6:45
  Speaker 3: We want to band together and we don't want to
• 6:47
  Speaker 3: leave this town.
• 6:48
  Speaker 1: What are the best neighborhoods right now in terms of rentals?
• 6:52
  Speaker 3: So right now the highest deals were around the Gramercy
• 6:55
  Speaker 3: Park area and also Madison Green around Fifth Avenue and
• 7:01
  Speaker 3: twenty third Street. Seventeen million dollar apartment was just closed
• 7:05
  Speaker 3: there this week, So that area is doing very well.
• 7:08
  Speaker 4: Chelsea. But I think that's the hottest area right.
• 7:09
  Speaker 1: Now, Chelsea, Chelsea. It's up and hot though, well.
• 7:12
  Speaker 4: It's not really. It's flat Iron. It's really cool.
• 7:13
  Speaker 1: Flat flatter Iron. And that part of Manison Avenue is
• 7:17
  Speaker 1: just below Murray Hill. I guess right.
• 7:18
  Speaker 3: Eactly, Upper West side's doing very well, really, oh very well.
• 7:21
  Speaker 1: I gotta tell you, I go to a barber on
• 7:23
  Speaker 1: one hundred and fourth and Broadway to get my body.
• 7:25
  Speaker 3: I'm not talking there, I'm talking like with Stephen Spielberg
• 7:28
  Speaker 3: just now worries that exactly that's it the Dakota. Okay,
• 7:31
  Speaker 3: that's that's south of Well, it's still Upper West right,
• 7:34
  Speaker 3: I mean, I get you know, people Upper west Side.
• 7:36
  Speaker 3: I live on sixty first Street. I think of the
• 7:38
  Speaker 3: Upper west Side. I'm thinking I used to live close
• 7:40
  Speaker 3: to Hall on that But you're right, you're right, that
• 7:41
  Speaker 3: area still does well, sixty seventy maybe up eighty sixth Street.
• 7:46
  Speaker 3: You go to ninety six Street and Broadway, it's most
• 7:48
  Speaker 3: like one toilet and then you're finish. To me, it's dirty.
• 7:51
  Speaker 3: To me, it's like I won't walk myself at night.
• 7:53
  Speaker 3: I get I really do.
• 7:54
  Speaker 1: And every other store is for rent on the Upper
• 7:56
  Speaker 1: west Side.
• 7:57
  Speaker 3: Every other store is for rent everywhere in this town.
• 8:00
  Speaker 3: Percent agree with you, But yet it's too big to fail.
• 8:03
  Speaker 3: I'm not betting against it. I think it's too big
• 8:05
  Speaker 3: to fail. I think that we want to band together,
• 8:06
  Speaker 3: we want to keep a good and I'm on target
• 8:10
  Speaker 3: to try and help anyway I can say.
• 8:12
  Speaker 1: I know you do, and you're important here. You're important
• 8:14
  Speaker 1: to tell you that. I mean that sincerely, all the
• 8:17
  Speaker 1: Burrows Brooklyn, for example, you're involved in Corney Island for
• 8:20
  Speaker 1: a long time. Are the other Burrows also keeping up
• 8:22
  Speaker 1: there under the bargain? Are you noticing that we.
• 8:24
  Speaker 4: Have no vacancy right now?
• 8:26
  Speaker 3: Nineteen thousand apartments hit the market and rentals in the
• 8:30
  Speaker 3: last year, and we're maybe like one percent if that.
• 8:33
  Speaker 3: So the whole city is on fire. The rentals are
• 8:35
  Speaker 3: up by six and a half percent. They're still up. Yes,
• 8:39
  Speaker 3: rentals are up, sales are up. I mean, so are
• 8:42
  Speaker 3: people leaving. It's like a slow bridge that's falling that
• 8:45
  Speaker 3: nobody notices the fire. It's a very small fire right now, right,
• 8:49
  Speaker 3: but we want to keep it very dim one more.
• 8:52
  Speaker 1: We're into May now, and we all know you love
• 8:54
  Speaker 1: the Hamptons. I don't know where you are, quag Or
• 8:56
  Speaker 1: Hampton Bay on Carbo, oh even nicer. And this is it.
• 9:00
  Speaker 1: This is the time of year. Hampton's, Bier Island, Jersey Shore.
• 9:04
  Speaker 1: I go to, I go to the Jewish shops. I
• 9:06
  Speaker 1: go to White Lake by Monticello. But the Hampton's you
• 9:09
  Speaker 1: were telling me a couple of months ago, you thought
• 9:11
  Speaker 1: that that would still be a very hot seller.
• 9:14
  Speaker 4: Is the prices. They are doing very well.
• 9:17
  Speaker 3: They're having their best year, Yes, best year, yester year.
• 9:20
  Speaker 3: That's what I'm told by I'm told that by brokers.
• 9:23
  Speaker 3: I don't really sell out there, so I don't want
• 9:24
  Speaker 3: to say that.
• 9:26
  Speaker 4: I know I don't do. When I'm there.
• 9:28
  Speaker 3: I'm i'mation, I'm on vacation, right, But I do talk
• 9:30
  Speaker 3: to a lot of brokers, and a lot of my
• 9:32
  Speaker 3: friends own and I own, and I'm told from the
• 9:34
  Speaker 3: various brokers that it's doing.
• 9:36
  Speaker 4: They're having banner years. A banner year.
• 9:38
  Speaker 1: Mom, Donnie should hire you. I know you hate him
• 9:40
  Speaker 1: like I do, but he should hire you. You're like
• 9:42
  Speaker 1: you should work for the Chamber of Commerce New York.
• 9:45
  Speaker 4: I tried to talk to Mom Donnie. He wouldn't talk
• 9:48
  Speaker 4: to me.
• 9:48
  Speaker 1: No, that's not true. He reached out.
• 9:50
  Speaker 4: I reached out to him.
• 9:51
  Speaker 1: I wanted to talk to email.
• 9:53
  Speaker 4: I interviewed every mayor in the military Port.
• 9:55
  Speaker 1: I had every single one. I know that.
• 9:56
  Speaker 4: I tried to get Mom Donnie on You even talked to him.
• 9:58
  Speaker 3: You spoke to his girls to I texted with him personally.
• 10:03
  Speaker 3: You did, I did, and you reach out thee on fire.
• 10:07
  Speaker 3: He told me to reach out tell Leka. We spoke
• 10:10
  Speaker 3: several times and they declined. And what I won't not
• 10:14
  Speaker 3: say on the air why they declined, but they did
• 10:16
  Speaker 3: because you're we were very close.
• 10:18
  Speaker 4: I'm not saying why.
• 10:19
  Speaker 1: I'm telling you why.
• 10:20
  Speaker 4: I had a conversation with them, and I think I was.
• 10:22
  Speaker 1: Your name was who's in You'd be meeting with the
• 10:27
  Speaker 1: mayor tomorrow.
• 10:27
  Speaker 3: But you're doing said, I want to save the city
• 10:30
  Speaker 3: and I'm hoping that he does a good job.
• 10:32
  Speaker 1: Yeah. Well, that's not going to happen. But you you're
• 10:35
  Speaker 1: going to be fine. It looks like because people will
• 10:37
  Speaker 1: buy you New York no matter what.
• 10:39
  Speaker 4: It doesn't matter it costs money to sell.
• 10:41
  Speaker 1: I feel like the real estate business is almost bulletproof.
• 10:44
  Speaker 3: Well, you know, if you sell something, you have treads
• 10:45
  Speaker 3: for taxes, you have capital gains taxes. You could do
• 10:48
  Speaker 3: ten thirty one. Then you got to buy someplace else
• 10:50
  Speaker 3: Where are you buying?
• 10:51
  Speaker 4: Where are you're moving? You've got roots here. It's it's
• 10:54
  Speaker 4: not so easy to get out of what you're invested in.
• 10:55
  Speaker 1: But I went way over the time because you're very
• 10:57
  Speaker 1: interesting and we love you on this show. So thank you.
• 11:00
  Speaker 1: We're done. We've done for today and we've done for
• 11:02
  Speaker 1: the weeks. Who's in Miller? Check out the Miller Report.
• 11:04
  Speaker 1: What day of the week does that drop up on? Monday? Mondays? Okay,
• 11:07
  Speaker 1: Miller Report? Great podcast.
• 11:09
  Speaker 5: Thanks for listening to Sit in Friends in the Morning.
• 11:13
  Speaker 1: You can hear Sit and.
• 11:14
  Speaker 5: Friends in the Morning weekday mornings at six. If you
• 11:17
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• 11:20
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• 11:24
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• 11:28
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• 11:34
  Speaker 5: and X see you next time for a new episode,
• 11:37
  Speaker 5: so you never have to wonder what the heck
• 11:39
  Speaker 1: Is going on here