In a rush to tap into the potential of transit-oriented sites, developers in Miami-Dade have unleashed a wave of residential towers along U.S. 1, predominantly capitalizing on the density and height opportunities provided by Metrorail stations. A comprehensive analysis reveals a pipeline of nearly 5,000 units comprising apartments, spanning completed, under-construction, and proposed projects from Dadeland Mall to Coconut Grove.
While some projects, such as Grove Central by Terra and Grass River Property, align with Metrorail stations through public-private partnerships, others, like Fortune Development Group’s proposed …
by Riccardo Ravasini 
What’s going on in the Residential Market?
The contract activity, the number of signed contracts, for the month of November is down 5.3% compared to a year ago and also down 22% compared to the monthly historical average.
The Median Sales Price for a Manhattan apartment is $1.12M, and it’s 1% up compared to a year ago.
The supply, the number of units on the market, is down 3.4% compared to December 2022. While the number of pending sales, or …
by Riccardo Ravasini 
Manhattan’s Real Estate market is influenced by economic, social, and geopolitical factors. Examining five key areas, this piece utilizes data and market trends to anticipate potential shifts in the Manhattan real estate market in the months ahead.
Changes in the Federal Reserve’s rates, 10-year Treasury yield, and mortgage rates strongly impact Manhattan’s real estate scene. A recent rise in rates coincided with a dip in signed contracts, prompting buyers to rethink affordability. If Fed rate cuts materialize in May …
by Riccardo Ravasini 
South Florida’s cost of living surpasses the national average. When an index of 100 represents the national average cost of living across 269 cities, Miami and Fort Lauderdale had index values of 115.3 and 118.3, respectively, in the third quarter of 2023.
Notably, if Manhattan were considered separately, it would lead with an index value of 227.8.
(source: axios.com, picture: rachel-martin)
by Riccardo Ravasini 
South Florida’s Miami River is poised for a development surge, with a dozen projects potentially adding 10,500 condo and apartment units. The analysis focused on applications and construction loan filings from the past year, hinting that the count might be higher.
Ranging from proposals to nearly completed constructions, these projects signal a resurgence along the 5.5-mile stretch from Miami International Airport to Biscayne Bay.
The river, a historic site dating back 7,000 years, is witnessing renewed interest after developers diverted to other areas. This …
by Riccardo Ravasini