There were 4,494 New Lease Signings in Manhattan in the month of April -50.5% compared to the same period last year, but that was due to the distortion of surging inbound activity last year as the market woke up post pandemic.
Bidding Wars accounted for more than one in five new lease signings, with a 21.3% market share and a 10.7% average premium above the landlord’s last asking price.
The Median Rental Price was $3,925, up +31.9% from April 2021, while Net Effective Median Rent, the face rent, less landlord concessions surged year over year by a record rate of +38.7% to $3,870, this …
by Riccardo Ravasini 
Developers are increasingly planning to build towers in Miami that will reach supertall status (above 300 meters, or around 969 feet), with the real estate market here among the hottest anywhere. And several supertall towers have been announced in recent months, all by top-tier developers.
Here below is the link to the complete article with the list of every supertall currently being planned in Miami. http://ow.ly/WRtc50IMqbr
(source: thenextmiami.com, picture: The Waldorf Astoria Hotel & Residences)
by Riccardo Ravasini 
New Yorkers will soon be able to hail a taxi on Uber.
The Wall Street Journal was first to break the news of the agreement, which it reported could ease Uber’s driver shortage and direct more business to taxi drivers. I also recommend using Curb (the yellow cab app) https://gocurb.com/ to find a cab and pay for your ride. I use it all the time.
(source: patch.com, picture by Veronika Bykovich)
by Riccardo Ravasini 
Ultra-runner and magician Oz Pearlman just set a record for the number of laps run around the iconic 6.1-mile road in Central Park.
Pearlman ran 19 loops, a staggering 116 miles, 18 miles more than the previous park record set just last year, running nonstop from 6 a.m. on Friday to 1 a.m. on Saturday. The record-setting effort was in support of the Save the Children Ukraine Relief Fund, ending up raising roughly $100,000.
“As a parent of three young children, my heart breaks seeing the horrific violence in Ukraine and its impact on …
by Riccardo Ravasini 
There have never been more office employees going into offices across the United States since the onset of the pandemic, but the in-office population is still less than half of pre-pandemic levels.
A record number of employees were back at the office for the week of March 30, according to Kastle Systems’ “Back to Work Barometer”. While that’s positive news for the office market, the level marked only 42 percent of pre-pandemic levels.
The share of workers back in the office was the highest in around three …
by Riccardo Ravasini
We reached a record-breaking number of closed sales, 3,585 to be exact, the highest registered in thirty-three years; up +45.9% year over year and +48.9% from pre-pandemic levels.
Listing inventory (the number of available properties on the market) declined 4.4% to 6,906. A decline that has been going on for several quarters. As the market returned to seasonality, the excess demand overpowering listing inventory was partially offset by the seasonal rise in supply.
Sales kept rising and listing inventory kept decreasing from the year-ago quarter. As a result, the months of supply (the metric that indicates the market’s pace) …
by Riccardo Ravasini