Robert Frank
CNBC
New York, NY, United States
Contact Robert
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Past articles by Robert:
Manhattan median rent remains at record high of nearly $4,400 a month
Brokers said buyers who would normally be looking to purchase apartments are choosing to rent for now given high interest rates. → Read More
New York and California lost over $90 billion in income to low-tax states during Covid
The losses accelerated the trend of high-earners relocating to lower-tax states like Florida and Texas. → Read More
Income migration doubled during pandemic from high- to low-tax states, IRS report finds
New data from the Internal Revenue Service shows the Covid-19 pandemic doubled the flight of the wealthy out of New York and California in 2021. CNBC's Robert Frank joins 'Squawk Box' to report on the great income migration. → Read More
The average price for a house in the Hamptons just hit a record $3 million
Despite stock market volatility, rising mortgage rates, layoffs in tech and finance and fears of recession, the wealthy are still bidding and buying. → Read More
Demand for luxury watches shows no sign of fading, says Audemars Piguet CEO
The luxury watch market has seen soaring secondary market prices, boosted by new demand from younger generations. → Read More
Manhattan real estate sales plunge 38%, but cash deals hit all-time record
Manhattan real estate sales fell 38% in the first quarter, as buyers and sellers battled over prices and mortgage rates remained volatile. → Read More
Inside a $218 million private island in Palm Beach — Florida's most expensive home for sale
Developers built a brand new house on Tarpon Isle, turned the existing structure into a guest house, and added a giant pool, tennis courts and other amenities. → Read More
CNBC tours Palm Beach's only private island
Featuring 11 beds and 22 baths, multiple pools, plus a private tennis pavilion and your very own yacht dock, this home on Palm Beach's only private island stretches over 21,000 square feet. CNBC's Robert Frank tours what could be the most expensive property ever sold in Florida. → Read More
SVB execs sold $84 million in stock over the past 2 years, stoking outrage over insider trading plans
Altogether, Silicon Valley Bank executives and directors cashed out of $84 million worth of stock over the past two years, according to Smart Insider. → Read More
An $18 million Ferrari leads record classic-car auction at Amelia Island. See all 10 top sellers
Total sales at the Amelia Island classic-car auction reached $178.4 million — a record for the event, according to Hagerty. → Read More
World's oldest Hebrew Bible could fetch $50 million at auction
The Codex Sassoon, a Hebrew Bible more than 1,000 years old, could end up the most valuable historical document ever auctioned. → Read More
Manhattan rents hit an all-time high in January
Median rents in Manhattan hit a record in January, fueled by a strong job market and tight supply. → Read More
Biden pushed a billionaire minimum tax – here's what Elon Musk would pay
President Biden urged Congress to pass his billionaire minimum tax. While the idea drew cheers, it's full of complications. → Read More
Luxury retailer LVMH is optimistic as it sees Chinese shoppers and tourists returning
LVMH's cautious optimism echoes positive comments earlier this month from Burberry and Swatch. → Read More
Gen Z is driving luxury sales as wealthy shoppers get younger
Analysts and luxury executives say the appeal of luxury brands to ever-younger consumers is tied to a surge in wealth creation over the past few years, along with social media. → Read More
IRS holds off on new rules for gig workers
CNBC's Robert Frank joins 'Squawk Box' to discuss the IRS decision to delay new restrictions on gig worker reporting, accountant tips for managing business payments, and delineating business payments from personal ones. → Read More
Rolls-Royce sees record sales 2022, no slowdown in spending by the wealthy
Rolls-Royce sold a record number cars in 2022 as demand for its $500,000 vehicles remained strong. → Read More
Manhattan apartment sales plunge in fourth quarter as brokers fear a frozen market
Manhattan real estate brokers are concerned both buyers and sellers are staying on the sidelines. → Read More
Online car market Bring a Trailer closing out year with record $1.35 billion in sales
Online car market Bring a Trailer says a record $1.3 billion of cars were sold on its site this year as collectors took to buying classic and pre-owned cars. → Read More
Millionaires plan to cut their holiday spending due to inflation
Millennial millionaires are the most likely to cut back on spending as a result of inflation, with 100% saying they plan to spend less. → Read More