The activity is picking up big time but there is still a huge amount of inventory to be absorbed.
April 2021 saw the largest number of new leases ever recorded, encouraged by the continuous price drops.
There were 9,087 New Lease Signings by the end of April, nearly seven times more than the same period a year ago, reaching the highest total number of new leases and the highest annual rate of growth since 2008. But we need to highlight …
by Riccardo Ravasini 
A favorable tax environment, company expansions, the trend of working remotely and, yes, the climate are drawing more residents from California, Chicago and states across the northeast.
Here are five tools and tips to makes the search easier:
▪ Set a realistic budget: Real estate experts recommend that buyers spend a maximum of three-and-a-half times their annual income on a home purchase. A household that earns a total of $100,000, for example, could spend up to $350,000 on a condo …
by Riccardo Ravasini 
South Florida house hunters may finally be catching a break. After months of increases, the median price for single-family homes appears to be stabilizing.
MIAMI-DADE
The total number of residential home sales rose by +33.5% year to year, from 1,862 in February 2020 to 2,485 in February 2021. Sales increased by +23.6% for single-family homes and by +42.3% for condos. Miami-Dade has 2.8 months of supply of single-family homes and 10.2 months of inventory for condos. A balanced market consists …
by Riccardo Ravasini 
In a joint statement, the Vessel’s designer Thomas Heatherwick and Hudson Yards developer, Related Companies, announced that the 150-foot-tall copper-clad staircase will be dismantled for safety reasons.
Instead, a digital rendering of the structure will be sold as a non-fungible token (NFT) in an auction next month. Earnings from the sale will be used to cover the costs of disassembling the structure.
(source: hyperallergic.com)
by Riccardo Ravasini 
Manhattan retailers are still waiting for the return of tourists to 5th Avenue and employees to Midtown offices, but some retail corridors outside of the central business district have seen metrics return almost to where they were before the pandemic.
Vacancies and rents in the Bronx’s main retail area, Fordham Road, are near normal, the New York Times reported. The vacancy rate is 3 percent, according to the Fordham Road Business Improvement District.
Meanwhile, in Brooklyn, new residential development has …
by Riccardo Ravasini
Let’s take a look at closed sales in the first quarter of 2021.
Manhattan has finally joined the real estate party that the wider tri-state region, and also most markets in the USA, have been experiencing since the summer.
Manhattan lost more residents than the other boroughs during the pandemic due to its greater wealth and mobility. But the borough has come back, with demand fueled by record-low mortgage rates, greater affordability, pent-up demand, and an improved sense of …
by Riccardo Ravasini