Miami Beach DJ and windsurfer Henrique Jordan has sold his waterfront residence on Sunset Island II for $27 million. The historic property, built in 1940 on a 0.7-acre lot at 2501 Lake Avenue, features 5,400 square feet of living space with five bedrooms and seven bathrooms. The allure includes 200 feet of waterfront, a pool, and a private dock. The buyer, a Delaware entity, remains undisclosed.
(source: therealdeal.com, picture: google maps)
by Riccardo Ravasini 
Almost four years after the pandemic, remote work still shapes Miami’s commercial real estate scene. A U.S. Census survey found that about 15% of Miami-Fort Lauderdale workers telecommuted in 2022, only slightly down from 16% in 2021. Despite this shift, the number of lease transactions remains strong, with Miami seeing 331 office leases in Q2.
The city has almost 2 million square feet of office space under development, indicating confidence in future growth. Although remote work is prominent, the 10% surge in local office rental rates highlights …
by Riccardo Ravasini 
Mayor Eric Adams has proposed an ambitious housing agenda named the “City of Yes,” aiming to address New York City’s housing crisis and alleviate high rents. Unveiled at the end of September, this proposal aligns with the “Yes in My Backyard” (YIMBY) movement, with a goal to construct 100,000 new homes over 15 years by easing zoning restrictions.
Key measures include the elimination of mandates for parking in new developments, the legalization of dorm-style shared housing, and the approval of accessory dwelling units, which include unregulated basement apartments susceptible to flooding. …
by Riccardo Ravasini 
The monthly contract activity stood at 571 in September, down 13.4%, with 88 fewer contracts signed than last year and 18% with 127 fewer signatures from the 698 historical average for the month. The Median Sales Price is $1,130,000, 2.2% down from last month and 5% down from last year. The supply of units on the market stands at 7,219, down 6.7% from a year ago. While the number of pending sales and units currently in contract stands at 2,633, …
by Riccardo Ravasini 
Florida is retaining its residents at a remarkable rate, with 72.7% of those born in the state choosing to remain as of 2021, ranking it sixth in the nation for resident retention. This “stickiness” factor significantly impacts Florida’s economic growth, as a stable population and workforce are vital for a state’s prosperity.
The states with the highest resident retention rates are Texas (82%), North Carolina (75.5%), Georgia (74.2%), California (73%), and Utah (72.9%).
On the other end of the spectrum, Wyoming (45%), …
by Riccardo Ravasini