For e for is e do [Applause] hey everybody let’s do a quick audio check as well as a visual check so if we’re streaming in 1080P and you could hear me uh give a thumbs up in the chat and then we will kick this thing off here in a moment
Okay it looks like we are good so good evening everybody and welcome back to walks and Wall Street today is Thursday November 30th 2023 now it’s it’s the last day of November which is kind of crazy but it’s true so November has officially come and gone uh pretty much earning season has
Officially come and gone and we are headed into the last month of the year this is the home stretch before we uh hit 2024 now as you know yesterday it was a pretty big day in the city we had the Rockefeller Center Christmas tree lighting which was amazing we got to see
That uh I think it was much better than last year would you guys agree now towards the end of the live stream uh we were able to see the tree lit up in all its glory and it was awesome fun time really really fun time uh and tonight I’m super excited I’m
More excited because we are going to be walking down Wall Street which is very fitting for this channel uh walks in Wall Street and we’re going to be checking out the Christmas tree that stands right outside of the New York Stock Exchange I believe believe they had the
Tree lighting just a couple hours ago I think they started at 700 so hopefully it’s actually still on we’re starting the stream a little bit late tonight uh busy day for me had a lot of showings um coming all the way from Uptown 575 Madison Avenue but uh I guess better late than
Never so we’ll talk about the market a little bit uh very flat day in the market pretty much what I like to call a churn day now if you notice if you look at futures okay take a look at the S&P 500 e- mini Futures Contract ticker symbol Es now I
Want you to focus on the candle from November 24th uh to today well not after hours uh and you’ll notice we’ve been in a trading range for 1 2 3 4 5 days in like a 50p point range so we’re getting this very very tight action uh in the market and you’re
Starting to see a lot of individual names that have actually broken out uh and run up you kind of pull back a little bit uh which I think is is normal and healthy so look for all the leaders that are out right and we’ve been talking about uh the true market leaders the
Ones that are already up and out I’ll give you an example pnw uh broke into new alltime record high territory this one is extended right now we’ve been watching this um pretty much as it’s been building its base uh to the lower end of 230 bucks uh
It closed its trading day today at 295 so this thing is extended but this is a true market leader this is out uh and we’ve talked about usually the first stocks or the first companies to break into new all-time record highs and run at the emergence from uh the transition I
Should say from a bear to a bull those are the leaders so the leaders are already up and out um we’ll write sort of a little bit of a followup uh in our next edition of the behind the street newsletter but these names are already out uh and they’re extended if you look
At the 50-day the 200 day and the thir um excuse me and the 100 day moving average so if you pull up your Bloomberg terminal uh marketsmith and trading view uh the leaders are extended here since I have my um computer up I mean you have Palo Alto networks about 20% extension above
Uh the 50-day so that’s going to come back it’s going to come in uh you know I wouldn’t be surprised if we you know sort of trade sideways to down and go in through a little bit of a correction uh going into the holidays right uh but
This is good action this is very bullish action this is what you want to see we’ve had a lot of volume on many breakouts in leading stocks and cyber security is the sector that’s leading this market now we all know sort of my thesis
As to Hawai right um if you look at the total addressable market for cyber security spending uh it it’s pretty much just going to go off on a tale I I gave you guys that KPMG case study about cyber security uh and also we are going
Into an election year whether we like it or not uh unfortunately 2024 is going to be chaotic it’s going to be hectic uh not looking forward to it maybe some of you are looking forward to it but one thing is for certain my friends the amount of cyber attacks
Ransomware uh doxing anything cyber crime related is going to blow your face off it’s going to blow the brains out of the back of your skull next year and in a big way so uh not only nefarious actors trying to mdle in elections but to compromise corporate infrastructure
So we’ll we’ll stay on top of that uh zscaler uh reported great earnings by the way earnings power a zscaler uh was amazing uh they beat on both the top and the bottom line uh sales up 40% quarter over quarter coming at 4967 million EPS growth exploded
131% quarter over quarter now the 131% isn’t on like $10 worth of eps okay uh but it it’s something it’s 67 cents uh of eps you know if you look at October of 2022 uh they reported 29 cents so 29 cents in 2022 to about 67 cents now it’s about
131% increase uh phenomenal 99 comp rating 99 EPS rating and if you look at uh the number of Institutions uh in this stock it’s growing quite substantially so this is when we got to watch uh watch crowd strike crwd pretty much the whole cyber security sector uh is leading here
Earnings matter fundamentals matter uh return on Equity pre-tax after tax margins those are the characteristics that drive leading stocks um so quality Quality quality earnings earnings earnings is really the one thing you should be looking at uh earnings power uh on a company that is in a massive ever expanding total addressable
Market that’s sort of the formula that I use so a company that’s generating massive earnings power in an expanding total addressable Market okay and that is cyber uh all right I’m going to go ahead and close up the laptop here everybody I will say hello to everybody in the chat
Uh and we’ll get started we’ll get started I’m so excited about tonight’s live stream because we’re going to go down to Wall Street uh we’re going to check out the tree in front of the New York Stock Exchange and uh let’s kick this thing off once again um
Just a quick reminder last Friday I sent out everybody a copy of our behind the street newsletter okay uh if you haven’t received that yet go ahead and check your spam folder but if you haven’t signed up yet and you want to receive all of our equity research for free
Every Thursday okay every other Thursday after the market closes go ahead and scan the QR code on your screen or type exclamation point news nwf in the chat uh and the nightbot will drop the link uh to our substack now last Friday I wrote an article that was titled a Thanksgiving
Lesson how to crush it in markets and in life uh and it was essentially a really good article about all of the I would say the greatest pieces of advice I’ve ever gotten from a very very uh well-known and successful hedge fund manager so check that out if you like
The newsletter share it with a friend uh all right I’m going to go ahead and close with the laptop and we’ll get started all righty guys let’s uh go ahead and clip this microphone on here now we’re reporting live from Lower Manhattan this is one of my favorite uh
New development department buildings in the city this is 130 William this is an amazing uh luxurious apartment let’s see who we have in the chat I see D is here Tom Barry what’s up Tom the one in only Sparks Carnival it’s very good to see you Lea is joining us uh Richard vogle
Wendy England Susan Q4 Sunshine after rain it’s good to see you John Casey says good evening from new New Jersey what’s up all of our viewers from Jersey good to see you guys yeah this is the very front of 130 William I love this building uh Michael
Says are you going to Little Italy tonight we actually might we actually might go a little Little Italy tonight uh money with Tommy says hello from Georgia money with Tommy good to see you my friend uh welcome to the big city welcome to the big dance welcome to the
Big Show you know I forgot to mention something in the I guess we’ll we’ll talk about it tomorrow but we just recently closed the big deal and we’re taking over a brand new development project just north of the me packing District uh as you hit Chelsea uh by the Highline so you know
How when we do a lot of those live streams and we walk past all of those really cool things on the Highline well uh we are now going to be leading sales on one of those buildings so coming soon I should have some uh well if I can get access which I
Probably can we have to work on some staging with some of the apartments uh but I will be bringing you guys an inside look um into some of our exclusive units in those buildings uh Austin City Limits good to see you 48 is here username schern name
Oh that’s right sorry about that I think my QR code expired I’ll have to get a new one halte is here good to see you halte Kevin oh cool Kevin your wife Beth is watching good to see you Beth um let’s start to head by the Federal
Reserve the big bad Federal Reserve um but currently right now we are looking at arguably one of the most iconic buildings anywhere in the world I was about to say in New York City uh but pretty much anywhere in the world right here the World Trade Center uh in New
York City now I got off the subway on Falon Street uh which is just off to our left we’re actually walking up Falon street now uh so we’ll make a left uh on Broadway at the very very end of the block and then we’ll head all the
Way down to Wall Street it’s going to be the end of Wall Street by the Trinity Church as well as one Wall Street and we’ve talked about one Wall Street a lot on the live stream haven’t done it in a while because we haven’t really been down here I don’t even
Remember the last time we were down here uh in Lura Manhattan but uh one Wall Street is the largest office to condo conversion in Manhattan and I’m excited to check it out tonight by the famous developer Harry mlo who also did 432 Park Avenue I know short clip reels uh says did you see Elon I know I saw that that was a uh definitely a jaw-dropping experience I’m sure everybody by now has seen the Elon Musk interview with Andrew Ross sorin uh wow yeah I don’t even know if I have any analysis for that just uh
Wow I mean yeah I think everybody’s thinking the same thing uh yeah I’m seeing unhinged Elon in the chat um now here’s something interesting my buddy texted me today you know obviously everybody was talking about it do you think that was just promotion for the Cyber truck
Launch what do you think about that thesis do you think that was just to get headlines and and grab attention for the Cyber truck launch that was today I believe I don’t know hey s it’s Tom go by 34th Street Macy’s when you can we’ve been doing that every day s we’ve done
That every day for about I think almost literally 30 days I think this is the the first night that we haven’t walked past uh Macy’s um hey Tommy G says Elon will ultimately sell Twitter SLX within a year I’m not sure I don’t know um I know
One thing is for sure and one thing is for certain that Twitter well X Twitter whatever uh cannot survive without advertising right now the point is not to say do you agree with Elon Musk or not right that’s not the point we we sort of try to keep it business oriented
Conversation and the reality is that that X is not going to be able to survive in advertising boycott they’re just not I think over about 80% of of the revenue it comes from advertising right it’s an it’s an advertising business model it’s the same thing as meta it’s the same
Thing as all the the social networks right Microsoft’s LinkedIn in the like so we’ll see we’ll see what’s going to happen I I don’t know um I don’t know hey Greg says I think Elon was just angry and lashed out yeah yeah I mean uh you know I feel
As if regardless of how you feel about the situation right you could see the Chrysler Building all the way in the distance I feel like everybody particularly in Corporate America uh runs is like walking on eggshells right and at my last company I was at it was exactly
Like that as the particularly after the merger we went through you know what let’s actually let’s actually go to the Oculus first and then we’ll head down to Wall Street might as well we’ll check out um we’ll check out one World Trade Center we’ll check out the inside of the Oculus I
Think that’s all decorated uh for the holidays so we’ll do that um but yeah I I think people are just sick of walking on eggshells right if you say one thing that somebody doesn’t like it’s like it’s like cancel cancel everybody like you can’t have a job ever
Again or you know we need to pull all advertising Revenue it’s I think everybody just needs to I think there needs to be a uh like just to chill like everybody just needs to chill out I feel like everybody is so pent up um I just feel like everybody’s so
Turbocharged and maybe social media exacerbates that feeling but um generally speaking right my point of view is I think freedom of speech is 100,000% fundamental and to interpret what Elon Musk said as anti-semitic is ridiculous it it was that’s absolutely ridiculous um but it’s sort of just like you know
If one person doesn’t hop on the cancel culture you know everybody uh you know goes and attacks that person who’s still advertising right and then sorry no it’s okay pal and then it’s like a never ending fulfilling prophecy so uh Brian what’s up this says great
For you of the Oculus Annie says guys how do people pay $5,000 a month in rent uh people pay $330,000 a month in rent here people pay $115,000 a month uh some people pay $100,000 a month in rent here people make a lot of money people make a lot of money in New
York all right everybody this is the beautiful Oculus here it’s eerily quiet in lower Manhattan isn’t it tonight there’s usually a lot more people uh down here usually a lot more but let’s take take a walk inside the Oculus hey calina says Hey from Argentina I really like your live
Streams and I love New York good to see you I think your President elect was in Brooklyn New York I think about two days ago so welcome to all of our viewers from Argentina it’s good to see you all right everybody this is the inside of the Oculus beautiful
Here I love the uh blue sort of backlit lights here in the Oculus money with Tommy says what is the purpose of the Oculus well you can get the one uh you can get the one train here you could also get the PATH train new to New Jersey this is a massive
Transit terminal uh and it’s a huge Mall uh I’ll take you down to the second level there’s a double decker Apple Store here uh and then all the way to the back you see the PATH train that will take you out to New Jersey and then you can
Get the one train up or downtown but essentially this is a massive mall I think Westfield uh is the main or sort of the owner of the space that then leases it out oh you could also get the r&w trains here too so massive train
Terminal um one of the major ports to go to New Jersey and Retail shopping there’s also uh you know places to eat here and apparently there was an ice skating rink that I just found out was here uh just as we’re coming down here this is my first time being here
During the holiday season this year um I’ve just been so busy Uptown we haven’t really had some time to explore down here but I think it looks nice I think it looks really really nice yeah I know uh Brian Reed says I would think there would have been more people I do too
Um now chances are there all the people are probably either you know working remote or they’re Uptown and Midtown Manhattan looking at the Rockefeller Center Christmas tree tonight but it’s very unique architecture in here it’s kind of cool hey meld good to see you so are we going to see the Wall
Street Christmas tree we are uh the New York Stock Exchange lit up their Christmas tree which I think is the best one oh this is roller skating I thought it was ice skating it’s actually a roller rank but you know we sort of touched on the fact that
Uh you know Elon musk’s Outburst right uh in relation to the advertiser boycott on social media platforms and if you think the craziness has reached its peak um I’m actually under the impression that we’re just getting started with the craziness right uh particularly going into an election year
2024 is going to be uh very very wild and I think it’s important right not from necessarily a financial standpoint but I think everybody watching including myself need to be very hyper hyper Vigilant and protective of your time in 2024 you need to be very very very cognizant uh of time
Wasting and what I mean by that is if you’re on X next year if you’re on Facebook next year Instagram any of the social media platforms LinkedIn you know there’s going to be things out there that are going to solely be for the purpose to get you
Riled up to get you engaged in the political conversations with people you have absolutely no idea who they are uh and it’s important to laser laser focus in and not engage in any of that nonsense right because it’s going to be full blast next year it’s going to be
Wild um and this sort of ties into the thesis of the cyber attacks and the Cyber threats there’s going to be more fishing more emotet uh attacks there’s going to be fake you know campaign donation links it’s just going to be all types of stuff
Right so I think the best thing to do in 2024 uh is totally block all the nonsense out because whoever is going to be the president is going to be the President right your little teeny opinion is not going to change the matter uh you need to focus and lock in
And dial in next year on you know sorting your house in order right how are you going to level up your life you know how are you going to get that promotion that you’ve always wanted you know how are you going to you maybe act on that business idea you’ve always
Wanted to act on that should be the frame right not it’s falling victim to a lot of the political propaganda that’s going to come it’s going to come like I mean any nothing like you’ve ever seen in your life uh 2024 so that’s sort of
How I’m you know going to frame the year uh is just totally disengage I’m probably going to be muting uh keywords on social media number number one being Biden number two being Trump uh anything that has to do with the election it totally is going to be tuned out and I’m
Going to double down and triple down on growing my business helping my customers being there for my clients uh and not giving in the propaganda um so that’s what I would say that’s what I’d say now this has to be probably one of the coolest shots of one
World Trade Center uh I’ve ever seen and almost kind of looks a little bit ominous with the sort of clouds in the background look at that it’s just such a stunning building I mean seeing it in person um you got to see it in person if
You haven’t been uh to One World Trade Center it’s amazing now before we head to the Wall Street tree I just want to show you something real quick if you look past BMCC so this building is burrow of Manhattan Community College if you look just off to the left
Uh that is the Hudson yards it’s kind of cool we’re all the way in ler Manhattan probably about five miles I’d say someone fact checked me on that I’m trying to think 34 Street Hudson yards to Fon and Greenwich that’s probably about like 4 and a half miles right
Anyway you could see Hudson yards from 4 and half miles away it’s kind of cool now these are the two reflection pools that sort of map the outline of the old Trade Centers they made a very nice memorial here uh you know it’s so beautiful they did
An amazing tribute to all the victims uh that died on September 11th they have all of their names carved into the marble around there it’s really nice I have a couple videos up some Standalone videos sort of showing that um but yeah they do close it down I think after
Dusk here’s one more look at the Oculus hey Spark Carnival what is going on Juan Fernandez say DeSantis and Newsome debate is on Fox oh really I didn’t even know that was going on I actually think somebody messaged me about that today I forget who it
Was I don’t know I saw something about that but I think I just saw the two faces and I just completely swiped away I just can’t I have to focus I got to lock in I got to lock in I can’t be giving my time to these
People um anyway all right let us head you know what since we’re here we’ll take another detour cuz I always like showing this we’ll go to the Firehouse all the way at the end of the block here this is my favorite uh part about the 911 memorial is the really nice bronze
Memorial outside of the firehouse I always show it every time we’re down here it’s really nice these lobbies are cool too look at that but look I mean guys am I am I off base here or am I right um think about back and I think this is an important conversation to
Have right cuz you know yes we talk about the financial markets mostly on this channel but if you want to perform in business and in the markets you can’t be distracted with nonsense right and can you remember anything or any time where you were in a political heated discussion
With somebody on Facebook where you came out of that experience saying wow you know my life is significantly improved or you know did you ever have a positive experience doing that probably not now I mean I don’t want to put words in anybody’s mouth um but very very
Seldom when you bicker and argue in the comment section hey what’s up good good to see you love the gimal thank you uh with people on the internet particularly about politics um yeah probably not the best use of your time and it’s going to be like a Title
Wave next year I’m just warning you guys I’m mentally preparing myself for it too all right more importantly than the political nonsense let’s talk about the most important thing of the night this is ladder company 10 engine company 1 and I think they did an amazing job on this Memorial look at
This I think this is made out of pure bronze too look at that that it’s remarkable really so this this is a tribute to all of the firefighters who passed away on September 11th 2001 they did a really really good job here we get another shot from this side
And you can’t really see it too well on the live stream but they have all of the names uh engraved into the bronze here as well if you’re visiting New York uh this is definitely one of the must goto places right here and then as you turn
Back this is the view you see all of the Freedom Tower or one World Trade Center uh with the two reflecting pools too yeah 48s as you haven’t seen it before not a lot of people show this part of it uh I would say the most filmed and the most photographed is over
Here but unfortunately that’s closed uh those are the two reflecting pools um I would take you guys there but uh unfortunately it’s closed at dusk and then here they actually have the faces of the firefighters as well I think that’s all you had to say and they have a nice plaque
Here oh still you were here in 2016 yeah it’s uh it’s an amazing amazing place to visit I think every every American who visits New York City should should come to the corner of Liberty Street here um you know it’s good to put put sort of a face to the
Name right they have all the faces of the fireman here a lot of times we can just see the names right it’s it’s good to put an actual face behind the names it’s hey Rachel K good to see you yeah that’s true Steve Buffalo you’re 100% right Tom to achieve
Personal success you have to stay focused and turn off the noise that distracts you from achieving your goals I think that’s the comment of the night 100% And there’s already there’s too many distractions as it is in this world and uh you know something we need to be prepared for in 2024 for
Sure all right everybody we’re going to head into zucati park now this is where the original Occupy Wall Street protests started right here right in this park oh this is cool they have a little light show on the side of the building now if you remember there’s a really good mini documentary
Series um by reason TV it’s actually one of my favorite sort of mini docu series on the financial crisis so if you go on YouTube if you pull up another tab you can see just how you can kind of see how windy it’s getting it’s blowing all the steam over
Here it’s very very windy um but if you look at or if you pull up another uh YouTube link and you type in Peter shiff I am the 1% uh it’ll bring up like a I think it’s like a 2hour video uh produced and published by
Reason TV I don’t even know if they’re still around anymore but uh it’s one of the best I would say conversations about the 2008 financial crisis and essentially Peter Schiff for those of you who don’t know he’s the CEO and founder of Eur Pacific Capital and
Europe Pacific Bank uh as well as Schiff gold and he comes and interviews and talks to a lot of the occupi Wall Street protesters that were right here right literally in this park is where that Occupy Wall Street uh protest movement started right here and it’s such a good conversation
Because you know a lot of people who were very angry about the great financial crisis and rightfully so right had more in common with each other than a lot of sort of the media portrayed uh it out to be a lot of them were on the same page about you know the
And the FED movement which we’re actually going to walk past here in a moment when we double back we will be walking past the Federal Reserve where I believe the vast majority of the world’s gold is stored just over just over there across the street so if you go here and then you
Make a left or excuse me you make a right uh you will hit into the Federal Reserve yeah um but the problem that I have with the way the media I should say the mainstream media depicts the great financial crisis is they blame it on capitalism right they’ve
Blamed the great financial crisis on you know corporate greed and capitalism when in reality uh it’s crony capitalism that is the problem right uh with the Federal Reserve has essentially created uh a system of privatizing the profits and socializing the losses that’s essentially what happened right
In the 08 financial crisis so when the banks and all these Bankers were making all this money and Wall Street was making all this money well you didn’t get any of that no you go sit in the corner you don’t get any profits but when they go bust and go bankrupt yeah
We have to socialize those losses you know taxpayer funded bailout so and a lot of that is perpetuated these boom and bus Cycles by the Federal Reserve creating massive amounts of cheap money or access uh to cheap money be it that um everybody we have now reached Wall
Street this is the very very end of Wall Street and we are standing right outside of one of the most famous churches I would say in the United States this is Trinity Church that sits right at the end of Wall Street uh NIS says what is that Cathedral this is Trinity
Church right here very very famous it sits right at the end of Wall Street and this building that you see here with all these red flags this is one Wall Street now this what you’re looking at this massive building that kind of looks like an old office tower uh well it was
An old office tower at one point this is the largest office to condominium conversion in the city’s history uh and the project was put on by the one and only Harry MCL when we do these live streams Uptown near billionaires row particularly right next to my office is one of the most I
Would say iconic and recognizable buildings in New York City that’s 432 Park Avenue that’s the same exact developer so the Visionary behind 432 Park was was Harry mlo and he is the gentleman who put on this project right here it actually has a Whole Foods inside uh the building now this is one
Of the most luxurious buildings uh there’s about 580 units in the building the place is massive and it’s not selling well and we’ve sort of reviewed some of the reasons why uh it’s not selling well at all and we’ll quickly review that some other time hey western
Mass Davis here says hey Tom and chat uh here for the Wall Street Christmas tree hope all is well yeah we’re about to see it right now I’m pretty excited about it uh this is the very end of Wall Street we’re going to bang a right and you are
Going to see the New York Stock Exchange this is the very back end of the New York Stock Exchange hopefully at one point they’ll have all of this scaffolding taken down but you know even the outside of the stock Stock Exchange is decorated quite nicely actually look at this hey Mike skate TV
What’s up Mike uh we are down in lower Manhattan tonight because just about 3 hours ago they did the annual Christmas tree lighting ceremony of the Christmas tree that sits on Broad Street now there’s I think there’s about 16 uh one-bedroom and studio apartments inside one Wall
Street and obviously those are the ones that have sold cuz they are very unique units and from your bedroom or sometimes even from the kitchen depending on the layout of the building you can see directly into the floor of the new New York Stock Exchange uh so you can see the Traders
Running around down there uh I mean talk about a unique view right I mean what an amazing view uh to be able to say yeah my kitchen or my bedroom looks into the floor of the New York Stock Exchange uh I would definitely love an apartment
Like that hey Ma n is here say Hey Thomas good to see you welcome to Laur Manhattan we are now outside of federal hall now Federal Hall is under scaffolding it’s going to be under scaffolding for the next 10 years uh this is the site where George Washington
The first president of the United States was inaugurated hey Jonathan what’s up good to see you oh guys whoa all right here it is the 2023 2023 New York Stock Exchange in Wall Street Christmas tree man that looks good it looks even better with the holiday lights that are projected on the
Front of the New York Stock Exchange man that looks good hold on let me Center I’ll give you guys the best shot of your life here somebody has to take a screenshot of this you see the Christmas tree to your left the big Columns of the
New York Stock Exchange and then you see the front entrance of the New York Stock Exchange with the Christmas wreath that is wow they did a really good job this year that’s awesome man that is really nice I know Lees is those red and green lights make me think of Italy more than
Christmas kind of a little bit all right now they did this last year but the closer you get to the Christmas tree outside of the New York Stock Exchange if we look at some of the ornaments on the tree they have the Branded New York Stock Exchange logos on the Christmas
Ornaments we’ll see if we could see that this year but man this looks good and you can see all the workers kind of closing down the stage I think they had a big stage like musical performances here they’re all wrapping that up Today but they definitely did a good job oh No I like this one too cuz you could stand directly under it you can’t do that with the Rockefeller Center tree you kind of have to stand a little bit away it smells good too smells like amazing so this is us standing directly under hey Jonathan says Tom you exceed
My expectations on your walks thank you thank thank you for your donation Jonathan appreciate you very very much yeah I knew you guys would like this it’s always the it’s like the best Christmas experience I think uh outside the New York Stock Exchange and they also have a manora too I’ll stand a
Little bit back so you can see I believe the first day of Hanukkah is December 8th I believe for all of our Jewish viewers and listeners so happy Hanukkah to all of you they have a hanuk uh manora here so I think they do uh the candle lighting as well so for
Each uh night of Hanukkah that’ll be lit up yeah did a really good job 48s does it smell like Pine the smell of Christmas it does very very strong smell which is good the city definitely needs all these air fresheners let’s just say that ah Brian M says it’s the seventh got
It for some reason I thought it was the eth I feel like my Apple calendar says it was the eth I don’t know why but there you see the Fearless girl right there hey hang with Mark Mom it’s good to see you so walk a little bit further down Wall
Street and then we’ll see the Christmas tree from the other angle Hey Joe says good evening Tom thanks for the closeup of the Christmas tree no it’s my favorite tree in the city hey eyeglass lady what’s up good to see you as always appreciate you
And they took down all of the what’s it called the stage pretty quick that’s why you see these big rigs here these big 15 wheelers or 18 wheelers whatever they’re called hey let’s check out the mighty bu might as well as we continue to walk down Broad
Street now a lot of these older buildings that you see were once officers and now pretty much all of them have been converted into condos so you see this Joe in the juice here to your right this is 40 Broad Street this used to be a big office building now it is
Luxury Condominiums you see right here 40 Broad older buildings but they’re nice everything is a complete gut renovation and as you walk directly out of your apartment you have the best view in the house of the Christmas tree and the New York Stock Exchange I just feel as if this tree looks more
Symmetrical it’s like a perfect triangle almost hey Pete 144 welcome to Wall Street and Broad Street for the New York Stock Exchange tree lighting tonight as we stand by this Tesla Model X now obviously Elon Musk has been in uh the news with a bit of controversy but
Today was the official launch day of the Cyber truck anybody see any of the promotional videos about the Cyber truck what do you guys think thumbs up thumbs down I thought the video was insane of the Cyber truck racing a Porsche and then at the very end they’re like wait there’s
More and the Cyber truck beats the Porsche and the Cyber truck is towing a Porsche in the back is that real obviously they can’t do fake marketing right but I mean that just seems a little bit excessive to have a pickup truck be able to beat a Porsche with towing a Porsche that’s
Ridiculous hey thank you so much for your $10 donation says Wall Street tree is more impressive than the Brian Park tree uh thank you so much hey thank you yeah I’m glad you enjoy it yeah I mean so what have we’ve seen so far we’ve seen we’ve seen obviously the Bryan Park
One we’ve seen Rockefeller Center for a brief moment last night and now we’re seeing the Wall Street tree but thank you so much for your $10 donation MAA hopefully I’m pronouncing that right uh but thank you and appreciate you being here uh Le say any EV will beat yeah an
Internal combustion engine uh not Apples to Apples true now the exact reasoning for that now I’m not an engineer and I’m not a car guy but the way that it was explained to me is that the in an EV all of the horsepower goes directly to the wheels right and in an internal
Combustion engine a lot of that gets burnt off in the engine but for an EV it goes straight to the wheels is that right I don’t know however I don’t think uh a cyber truck will be able to fit in New York City I mean where would you
Park it right if you watch the our live stream last night we were talking about the craziness of New York City parking I mean the Cyber truck is so massive I think it’s almost probably bigger than a G wagon actually it’s probably much much bigger than a G wagon right um I just
Don’t know where you would park the thing is it even going to fit in the parking garage I don’t know it’s probably not for City Life but Uh EMV ISS due to the instant torque copy that yeah it’s interesting how that how that works right because does anybody remember I’m sure you you do remember you know the narrative around having an EV used to be like you know you would joke about the guy in the
Prius right or you would you know make fun of the guy that has the electric vehicle because you’re like ah he’s a little bit dorky and like that used to be the narrative it’s like you’re not Macho if you have an EV but in terms of performance uh it’s way better on every
Metric than an internal combustion engine it can tow more uh it’s way faster it’s uh it’s kind of funny how that works kind of comes full circle there um hey Chris what’s up Chris good to see you I know Pizza is the congestion charges no bueno yeah South the 60th
Street you’re going to get hit with the congestion tax Unfortunately now here’s a fun question anybody buy the Cyber truck today do we have anybody in the chat who has bought a cyber truck today pre-ordered one whatever you call It all right here we are by the mighty Bull and it is extremely dead in lower Manhattan tonight and I think this is a good visual and I’ll tell you why um one of the reasons right and if you remember a lot of our commercial real estate talk on the live
Stream the highest commercial office vacancy is guess where yeah if you’ve been watching the live streams you’d know it’s right here right it’s kind of like a ghost town in lower Manhattan particularly after working hours and that’s all that’s also affecting the residential uh real estate market down here as well because guess
What generally speaking people if you’re going to live in a big city people want to live close to to where they work so a lot of the new development down here it’s having a hard time selling particularly one Wall Street which is right off to your right there uh oh for
A moment I thought that was a Tesla Model X but it wasn’t it’s a minivan with two I don’t even know what’s on top of that like two storage things anyway um so yeah I mean Lower Manhattan is going through a little bit of bare Market
Um ironically enough as we as we stand right out uh in front of the bowl but it’s true both in the commercial real estate market and the residential real estate market now I think that’ll change I think that’ll change I think you’re going to see a lot of mispricing in the
Marketplace for residential apartments in Lower Manhattan and for big commercial buildings uh there just needs to be something to spark there needs to be just one Catalyst that brings lower man to become fashionable again right there just needs to be something that’ll set the fire if you will to have Lauren Manhattan become
Fashionable yet again and markets always running Cycles we’ve sort of you know talked about this at length last night and neighborhoods fall in and out of fashion right now the number one most fashionable neighborhood in New York City is tribe Becca everybody wants to in Tribeca right it’s the most
Fashionable neighborhood that’s where all the celebrities are you know everybody loves and is obsessed with Tribeca um I think if you’re looking to buy right now in the city you’re not going to get a good deal in Tribeca right you’re going to pay top tick I
Would rather uh look in a market that’s experiencing a little bit of a draw down right because if you look at some of these you know Apartments uh they’re priced well over $2,000 a foot uh which is you know depending on where you are it’s expensive sometimes way way over so
Um I think the with the South Street seport being built up the way it is I think with the tin building um I think with the new extension of the seport going all the way down uh I think that’s going to bring back a Resurgence in lower Manhattan hey the mighty bull
Thank you so much for your $2 donation uh this say take a selfie with the bull maybe maybe appreciate you um yeah D says I thought Soho is popular Soho is extremely extremely popular particularly those Soho Loft style Apartments now Soho didn’t always used to be popular that’s the thing uh there
Was at one point in time in Manhattan where the everybody wanted to live on the Upper East Side right this was way way back in the day everybody thought you were crazy if you wanted to live uh in Midtown Manhattan because Midtown Manhattan is where you would go to work
Nobody would really want to live you know right on top where you go to work you want to live on the Upper East Side uh and now you’re actually seeing uh a steep reduction in pricing on the Upper East Side particularly uh places like Sutton place where we uh were last
Night so what do you guys think of the bulll thumbs up thumbs down Dusty coold it’s good to see you David Somers says hey Mr Tom good to see you David we are in lower Manhattan tonight night uh checking out the tree lighting at the New York Stock Exchange maybe the market will close Green tomorrow since I did that now they used to have the Fearless girl right here she used to be sort of staring the mighty bull in the face uh they’ve moved her right outside of the New York Stock Exchange continue to walk up Broadway
And we’ll make one more pass at the Christmas tree outside of the New York Stock Exchange and then we’ll head up toown we’ll actually walk through Soho and uh maybe we’ll walk through Little Italy tonight it’s going to be on the way might as
Well you know I don’t think I gave it I don’t think I gave it a score did I I don’t I don’t remember it’s been a long day I’m forgetting things I don’t think I scored the Wall Street tree this year I got to go back
And score it it’s going to be a high high score uh it may be a 10 I have to I have to look at it one more time but this will be good because we’re going to uh pass right in front of one Wall Street ah Sparks Carnival this is Wall
Street tree 9.6 out of 10 love that Lea I I think I could be dreaming I think I may have scored it a 99 it’s been a long day I don’t even really remember they say walking helps you remember things and the best idea generation happens when you take walks I read that
Somewhere this is the King’s College I don’t even know if that’s that’s open anymore you know at one point in time our team was bidding uh to get the deal here at one Wall Street to take over the previous sales team it’s nice in here I think I’ve showed
You some videos of the amenities there’s a really nice saltwater pool uh indoor saltwater pool it’s it’s very very nice but I almost think they overdid it uh and the reason for that is if you make 580 units um with the same sort of kitchen and finishes that
They have at 432 Park people buy luxury because it’s a one of one right that’s kind of why they they buy it right they don’t buy it cuz it’s a one of 580 and everybody sort of uh you know has the same thing but yeah you can see here mlo properties I think
Compass uh runs the marketing here Studio to four bedroom luxury res es now to give you an idea guys uh a studio I think starts at 13 uh think about that for a moment 1 three for a studio I think I mean look I think you just Mis I think they mispriced
It you know Lower Manhattan highest office vacancy if it’s if nobody’s working down here uh it’s going to be hard for people to live down here as well so it’s beautiful property beautiful building um and I think you’ll see lower prices so if you like the
Building I think you’re going to have a lot of room to negotiate there because I think they’re less than 30% salt hey Loren Peters what’s up good to see you oh my God this is 14 Wall Street I used to have a client in this building uh called
Leading Edge I don’t know if they’re still there yes Sparks Carnival say is uh Sparks Carnival is talking about China uh I’m very bullish Japan I’m very very bullish Japan I wrote an article about why all right here we go once again uh I’m going to go uh I’m going to
Go you know let me scored from this angle actually it to be fair once we give it I mean that that’s it all right hold on uh I think the score would be higher with the construction stuff out of the way cuz you have the big rig in the
Back I think with the big rig in the back and all the construction workers taking down all the stuff it’s a 97 I think with everything out of the way it’s probably a 99 or or pretty close to a 10 as Clos as you’re going to get uh that’s a very
High score the highest score we’ve given out between all the trees honest says do we have unlimited 10 I give it a 10 yeah I mean definitely unlimited whatever you want whatever you want to score it uh they did a great job we’ll go under the tree and then let’s
Head back up town we’ll go by the Federal Reserve who we’re actually going to hear from shortly by the way it’s the last day of November it’s insane uh we have to hear from the big bad Federal Reserve one more time this year hey Simon Kelly says Tom do
You oops sale real estate outside of New York City uh we are opening an office and we are launching sales in South Florida uh particularly specializing in Miami and Palm Beach uh q1 of 2024 so if anybody needs help finding a place in South Florida or New York City let us
Snow man that looks [Applause] nice I know Brian m is like I can’t wait for the FED to tell us the same thing every week all right let’s head out let’s head by the Federal Reserve and all the way up through Soho Maybe Chinatown Little Italy and back to the good old 34th
Street Penn Station Arctic TR good to see you if you guys are enjoying the live stream so far you could leave a like on the video and click the Subscribe button if you’re new we do these streams every day starting at 8:30 yeah I mean New York City really
Over does overkill for the holidays New York City never disappoints for the holidays ever always stunning amazing now here is Deutsche Bank well the old Deutsche Bank at 60 Wall Street as we know they are now at the Time Warner Center so the Old Time Warner Center uh is now Deutsche
Bank Tower that was developed by the Related Group way way back in the day and I think Steve Roth was down in Palm Beach actually this past week uh speaking at a conference uh Steve Roth is very very big uh into the creation of the uh what
Do they call it Wall Street South I guess you can call it Palm Beach uh Lizzie says Tommy you’re going to show us Miami this weekend so I’m flying out Sunday night late uh cuz I’m going to be busy Saturday I have pretty much open houses every day in or every hour on
Saturday um I have one in gramar C one in Tribeca at five Franklin Place maybe I’ll take you guys by five Franklin place tonight uh five Franklin Place is my personal favorite listing that I have um it’s a three-bedroom three and 1 half bathroom on a private Street in
Manhattan right so off of Franklin Street which is the public Street uh there’s a teeny teeny little Cobble Stone street called Franklin Place uh and you have your own private Street and your own private driveway into the building this is the Capitol Grill uh We’ve listed 3495
Steven bit I don’t I didn’t I never activated that so uh I decided it was a bad idea so I never activated that so there’s no uh nothing like that but uh for the for Miami I will be there Monday so Sunday night flying out late I’ll be there
Monday through Friday and I’m going to come back on Saturday so I think you guys will like it I think you like downtown Miami it’ll be hopefully it’ll be warm it’s been actually kind of cold in Florida the last couple days from what I hear and here it is this is the Federal
Reserve yikes yikes yikes yikes Brian mem is like Boo well we’re going to hear from the FED one more time before the end of the year so the FED funds rate is currently in a range of five and a quarter to 5 1 12% it’s quite possible that the Federal
Reserve raises interest rates One More Time by 25 basis points uh but two weeks ago we had we got a very very I would say uh lighter than expected CPI report so inflation came in well below Wall Street expectations uh which signals that this quantitative tightening cycle is working
To bring down inflation right that’s the whole point of doing it uh the Federal Reserve tightens monetary policy uh it’s sort of put the pump the brakes on the economy we’ll see if this guy will stop the stop sign he does well rolling stop we’ll give him
Half credit for that five out of 10 um yeah we’ll see we’ll see uh if you look at Futures if you look at the bond market they’re already pricing in rate Cuts next year now I think the only way that can happen is if you have shelter cost
Really really plummet here and it’s on the trajectory doing so uh if you type exclamation point CPI in the chat it’ll bring you to the website of Bureau of Labor Statistics and you can see uh the interactive uh let me just cross here you can sort of see the
Interactive trajectory of shelter and shelter is the lagard and we’ve had seven consecutive months of shelter costs coming down in the US I think that’ll continue right uh I’m already starting to see well not starting you’re continuing to see follow through in a lot of rents coming down in New
York uh particularly commercial real estate is taking a very very big beating very very big blood bath here um but also the prices of residential property is coming down things aren’t moving transaction volume is slowing in a very very very big way so but that’s good news it’s good
News hey Elliot Wave review what’s up say Tom do you think they would allow you to get in The Firm or get in and film The Gold vaults we’ll have to ask uh fed share Jerome pal he’s sometimes in the chat isn’t he we have our very own uh Federal
Reserve chairman drone pal in the chat if he’s here tonight maybe he’ll give us some permission we’ll see speaking of gold it’s actually performing pretty well but is gold ever going to break out of this handle seems like something or some entity is keeping a lid on the
Price this is fton Street yet again we’ll make it right on Broadway and that’ll pretty much take us all the way up to Canal Street so you’ll be able to see a lot of the transition in the neighborhood we’ll go from obviously Lower Manhattan fi which we were walking through tonight
We’ll go all the way up through Tribeca and then uh maybe we’ll make a ride on Canal and go to Chinatown have been there in a very very long time hey Chuck or Chad what’s up Chad Tucker says the streets are very quiet tonight yeah Lower Manhattan is not like
Midtown uh often times almost every night on the stream we go live Midtown Manhattan right uh Biz is Tom are you long gold now I am not long gold I am not um I am not um but yeah Lower Manhattan is a lot of people when they watch a live stream
Right in New York City and maybe they’re not from New York City they think that New York is always buzzing and there’s always tons of foot traffic in all the neighborhoods it’s really not like that um particular cly if you remember from last night’s stream we were walking on the Upper East Side
There was almost nobody on the sidewalks uh and that’s because the Upper East Side is very residential it’s a very very quiet neighborhood where you’re always going to see a lot of foot traffic pretty much at all hours of the day generally speaking is probably right around 34th Street Penn Station uh
Extending towards Herold square and then in and around Time Square because you have have a lot of tourist activity really at all times of the day but I mean Lower Manhattan is pretty much a ghost town um particularly after particularly after 600 p.m. it’s really really dead
All right one more shot of the World Trade Center and then we will head up I’ll actually put you guys down here for a moment I got to plug the phone in [Applause] Oh hey yeah oh thank you thank you so much yeah gave me a snowman cookie appreciate that I’ll eat that thank you thank you all right let’s head Up once again uh vessie Street oh Tyler we just walked past BMCC so bur Manhattan Community College if that’s what you’re referring to uh is near the Oculus um I was going to go to BMCC actually so the three schools that I was going to go to um is
BMCC there’s another College near briyan park at the time it was called the new community college but I think it was actually sold and I believe it’s called the Stella and Gutman Community College um yeah but I wound up going to John J I think we’ll take a detour onto Franklin Street
Uh and I’ll show you guys one of my listings oh Tyler says you go to that school uh it’s really nice and it’s affordable yeah I think it’s a great school I think cuni uh in general uh the City University of New York is a great deal for any New Yorkers
Right because if you’re from the state of New York you get the special pricing and it is extremely cheap extremely affordable uh I think it’s great I think it’s awesome hey cuni baroo graduate here uh Tom is totally 100% on point yeah now for anybody who’s interested in
Finance uh Baro a lot of the major investment Banks uh will head hunt a lot of baroo college students I mean it’s in the name Bernard baroo he’s one of the best stock market operators in history right uh that’s a very affordable and inexpensive school that I was denied to
I applied to baroo I didn’t get in I never I had horrible grades in in in high school uh but baroo is a very good very very good school it’s not easy to get into um but yeah I always say that you know if you want to work on Wall Street or in
You know work at like a a big PE shop or something and you don’t have the money to go to a lot of the expensive schools of the Ivy League schools if you’re a New Yorker just go to baroo right it’s like four or five grand a year something
Like that at least that’s what it was when I was going to college and uh you know you will have no problem getting a really good job now I have uh I have a listing right on the campus of Baro College uh the address is 139 East 23rd
Street it’s right on the corner of Lexington and 23rd it’s called gramar SE North uh if you want to check it out if you type exclamation 23 in the chat exclamation 23 uh the nightbot should drop the link to a video tour of the listing it’s a nice neighborhood over there um just
23rd Street’s very busy street though very very busy street but it’s nice I like the campus of Bru very very much also another one of our projects is right here I don’t know if you can see that but the Conover in Red Hook so 199 Conover Street uh the developer really good guy
Very good friends with the developer uh lee Cohen he’s the CEO and founder of Red Hook Partners they developed a beautiful 22 unit very bespoke condominium in Red Hook Brooklyn uh and we are leading up the sales on that uh we just we just closed on two of the townhouse units so
I’ve actually been running around trying to get the closing gifts for those clients and one of our ideas is since Red Hook is kind of uh it’s a different neighborhood let’s just say that it’s not you know like an upper east side all like buttoned up you know black Thai
Event kind of thing it’s more relaxed uh I wouldn’t go as far to say hipster but it’s just more relaxed kind of calm cool and collected so we made like hats for closing gifts um we get I think like a $2500 gift cards to this uh Red Hook Lobster
Pound uh uh what else we got this really really nice local um kitchen table for the client that was handmade in one of the mill work shops in Red Hook so just all cool things like that hold I got to put you guys down for a minute
Yeah Josh has his Red Hook is underrated I like Red Hook it’s a little bit far but you know some people like that some people want to be away from the city a little bit uh check it out you know on December 8th I’m unfortunately going to be away
But we’re going to be staging one of the penthouse units uh so Penthouse 3A at the Conover uh I’ll have to shoot another video tour of the penthouse at the Conover particularly 3A because that one has these really incredible uh Ved concrete ceilings and you have unobstructed views
Of the World Trade Center it’s a really really cool project I think there’s about 1600 ft of outdoor space dedicated to the penthouse and one of the things we’re doing and you’ll see this we’re going to sort of build like a time lapse we we have a crane and we’re going
To rent a crane and bring the cold plunge on the roof for the penthouse uh bring the sauna on the roof to the penthouse cuz we can’t fit it in the elevator so we actually have to get a crane and plop the sauna and the cold
Plunge on the roof I think it’s going to be a cool setup up there I’ll have video of it and I’ll I’ll show you guys but we have not yet listed it all right it’s going to get very very quiet up here this main stretch in between I should say City
Hall and Canal Street at night it’s very quiet it’s kind of nice and you’ll start to see a lot of these really beautiful cast iron facades as we head into the Soho neighborhood as we pass Canal Street yeah hang with Mark mom says that’s how they do it in Holland when
Things don’t fit through the door they put it through a crane in the window I’ve heard a lot of people do that with uh posos like with the baby grand piano they have to rent a crane to Crane it in uh on the roof which is kind of or
Through the Windows uh excuse me to hang with Mark mom’s point which is funny hey Joey what’s up Joe this is Tom you also service on on Long Island we do we do our main focus is the five burrows right cuz that’s where the bulk of our network is
That’s where the bulk of my network is um but I’m from Long Island I’m from mipo I’m from Southshore Long Island and uh we know some we know some developers out there the thing is um we we don’t want to spread ourselves too thin uh sort of our strategy is and we
Actually had a meeting about this today uh we were in the office and we’re like we want to hyper hyper focus on a niche market to be unbelievable experts in it we want to be able to know every single developer um know every single building and become hyper hyper focused and hyper
Expertise in two places and for us uh sort of what Kirsten Kirsten Jordan who’s my boss and her husband Stephano who owns the colonade group who’s a big developer here um that for us is Manhattan and Miami well expanding to Miami it’s sort of what we want to focus
On and I think that’s the appropriate way to do it um so hyper hyper specialization I think oh guys look at this wow wow wow so this is a beautiful loft apartment guys look at this those have to be about 20t tall ceilings and they’re putting up their Christmas
Tree too right now look at that the people are live as we do this they’re putting up their Christmas tree that’s so funny yeah it’s it’s close I think probably my favorite would be those Loft style apartments in SoHo now we did have a listing at 74
Grand Street now that was a total gut renovation so they restored it’s like a 32 ton cast iron facade that they’ve totally restored um but yeah in a lot of these Lofts they have that exposed brick really really high ceilings man their apartment’s probably going to look amazing once it’s all
Decorated for the holidays that’s going to be stunning all right everybody this is actually where I was earlier yesterday so here we are on the corner of Franklin Street and Broadway so I obviously can’t take you inside but I’ll show you where we have one of our listings now as you walk down
Franklin Street you see all these really nice cast iron facades these fire escape buildings very nice very very quiet but just off to your right which you’ll see here in a moment is something that a lot of people don’t know about this is Franklin Place which is a passageway that is a private
Street right off of Franklin so Franklin Street Franklin Place so we are selling apartment 8A we’re not really supposed to come down here but for the sake of the video um here it is very private very tucked away is the facade of five Franklin Place now a very famous New York Ranger
Owns the top or one of the top pen houses uh here actually two floors under our listing but if you have a fob you would never really know it but this is actually the parking garage this will open up and you can pull your car
In and uh it’s a car elevator that takes you down so the lift goes all the way down underground and when you want to call your car it pops it up and shoots it right out right here at five Franklin Place very cool building and you have these really nice original Belgian block
Streets yeah unfortunately I couldn’t take a lot of video of our listing because there’s currently a tenant in there so it’s very you know you have to be very cognizant uh and be respectful of the existing tenant so it’s been hard to show it it’s been really hard to show
The place but all of our showings have been getting very good feedback so far so if you want to see it um if you want to see the listing if you type exclamation point5 um ex exclamation point5 I think it’ll bring you to the listing in Street
Easy um but it’s very cool three bedrooms three and 1 half bathrooms uh it has a swimming pool on the roof so the views are insane during the summer you know having the swimming pool on the roof having the gym having the coners 247365 having that elevator in the
Building your car elevator in the building uh not a lot of new development has that so we’re very very fortunate to have that listing however I will say in full disclosure the way the now obviously the individual condo unit which is apartment 8A right that you’ll see is listed on
The market we listed it for 3,495 th000 um the garage is actually totally separate so the garage is a sponsor unit right um I believe there’s three spaces left two sedans or two spaces that would fit a sedan and then one space that would fit uh an SUV right cuz it’s a car
Elevator um the spaces start at $300,000 each space and that would be a separate sale through the sponsor that makes sense um so aside from the resale of the unit a little confusing but that’s just sort of how it works all right check these buildings out now what do you guys think of
These Florida ceiling glass window now you could tell these are the older style buildings but this definitely went under renovation you could see that the facade uh is new you could tell it’s new um but they did keep the architectural Integrity in tune that is probably an
Amazing apartment I could just tell by looking in the windows with the Plants man those are nice I know D says I love the windows I like the windows too now in some of the older ones let’s say if you never have redone the windows they get very drafty though like that’s something you do need to think about if
You have the original windows it’s I mean you’re going to get a really really aggressive draft and it’s going to be a little bit cold but um I think it’s worth it I think the trade-off is worth it to be honest hey Lori is here what’s
Up good to see you hey EMV Tom at 6:00 in the morning here in South Africa going for a morning jog when the stream ends he cool that’s awesome thank you all of our South African viewers appreciate it very very much demand for a separate parking space
No I mean you make a good point right I mean you you definitely have every right to have that reaction it’s just that you know it’s so like where you going to park right and the city is removing parking every single day I mean you can’t park
Here so it’s either you park in a garage and chances are right or you park here you know out of curiosity let’s see what the monthly rate is here as we were walking on the Upper East Side uh last night it was about $11,100 to park a car per month
Let’s see what it is here maybe it’s not monthly oh it is monthly so monthly it’s $654 70 uh SUVs plus an extra $211 so you’re looking at a $900 in the garages that we showed you on the Upper East Side right this this is uh an open air
Parking lot so you do run the risk of just random people you know walking up to your space and potentially vandalizing your car so you pay $800 to have your car on this lift in the open air we’ll cross this way cuz we’ve already been streaming for almost 2 hours whoa
That live stream flew by Wild hey Chris Mills what’s up Chris 456 is if I were a developer I build tall parking lots yeah it’s it’s difficult I mean many developers have tried actually my boss has actually tried that business model and it’s a lot harder than it seems because you have to
Have the appropriate zoning and you have to have the appropriate air rights to be able to build uh as high as you want and Zone it for a garage right um also it has to do with the Aesthetics of the neighborhood think about if you buy
A plotted your land or you buy a building and you want to tear it down and build a skyscraper parking garage or wait till the guy Vapor guy moves up uh there’s going to be a lot of backlash from the community right because imagine I’ll give you an examp
Example imagine you live in this building and this building next to it is for sale and a developer wants to buy this and build you know a 5ft tall parking garage these people are probably going to be very pissed off and these people are probably going to be very pissed off
Cuz they don’t want tons of traffic going in and out in and out all the time so they’re going to complain that’s going to make life hell for the developer they’re probably not going to be able to get the appropriate zoning to be able to do that uh and
That’s why a lot of this stuff doesn’t get done so it’s a lot of red tape it’s a lot of politics uh and it’s tough It’s very tough the New York City real estate development business is honestly from my experience probably one of the hardest uh it’s just so difficult and after you
Push and shove and get all the approvals and abide by all the regulations well now it’s time to put your own money to work uh and your own money in the deal to build this thing and as everybody knows nothing ever goes according to plan right if you have contractors and
Construction companies quoting you and saying okay it’s probably going to cost you 20 million to build this building uh you know that it’s not going to cost you 20 million to build a building you’re probably going to be at least you know maybe 5 to 10% over budget every time so it’s tough
All right but everybody I think we’ll end it here I want to thank all of you for coming out tonight enjoying the beautiful tree lighting ceremony at the New York Stock Exchange if you enjoyed the live stream feel free to leave a like on the video and click the
Subscribe button if you’re new we will be back here live tomorrow starting at 8:30 if you want to sign up for our free investing newsletter you can type exclamation point news NWS in the chat and you can click the link that says walks Wall Street substack and it also
Includes video tours of all of our listings in New York city so guys take care and happy early Friday by the way we made it to the end of the week oh happy first day of December uh start the month off strong Strong finish the year strong and uh Happy December to
Everybody so EMV I appreciate you Arctic Tren Sunshine after rain Joe driver our good moderators Le the Chris Mills Austin City Limits Hawaii appreciate you uh Lori creative Joseph Hardaway Gary Carpenter uh un j23 hang with Mark mom schook wins Andy Goldie Kimberly B Anna western Mass Dave
Abdullah there’s always a ball Market somewhere you just need to know where to look and I will see all of you right back here tomorrow have a great December 1st God bless you all and God bless the United States of America thanks
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