Neighborhood focus: Jackson Heights, Queens

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Neighborhood focus: Jackson Heights, Queens

In Jackson Heights prices are skyrocketing but there are still deals to be had. One bedroom apartments range here between $300,000 and $450,000 in most instances.

The prewar co-ops and many subway lines serving the immigrant neighborhood of Jackson Heights have come to be increasingly enticing to a new, deeper-pocketed cohort. As a result, median prices have gone up 71 percent in the neighborhood since 2012.

The neighborhood is very cosmopolitan, some experts say 167 different languages are spoken there. Jackson Heights ...

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For sale in Miami

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For sale in Miami

The historic Greenwich Studios in North Miami just hit the market for $15 million, The Real Deal reports.
Classic movie and television productions like “Flipper” and “Miami Vice” were shot at the warehouse complex at 12100 Northeast 16th Avenue # 100. Movie producer Ivan Tors founded the studio in the 60’s. It officially opened in 1964.

Movies like “The Birdcage,” ”Stuck On You,” and “There’s Something About Mary” also were filmed at the studios.
Records show Sylvan Adams, CEO of Iberville ...

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South Florida Construction Update

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South Florida Construction Update

Construction starts in South Florida fell 23 percent in October to $1.37 billion, according to Dodge Data & Analytics in a report by The Real Deal.

Commercial building continues to outpace residential, due in large part to South Florida’s condo market slowdown. Last month, new commercial starts increased 36 percent to about $720 million, while residential starts declined 47 percent to $653 million, compared to October 2016.

Year-to-date, construction spending fell 9 percent in October to $9.47 billion from $10.4 billion the ...

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Trends: Tourism in NYC is UP but foreigners are DOWN

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Trends: Tourism in NYC is UP but foreigners are DOWN

The city’s tourism promotion agency, NYC & Company, estimates that the number of visitors will increase again this year, to a record 61.8 million, from 60.5 million in 2016, an increase of slightly more than 2 percent. That would make 2017 the eighth straight year in which tourism hit a new high, NYC & Company said.

The projected annual increase in tourism this year will come despite the first decline in the number of international visitors to the city since 2009, ...

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The Manhattan Luxury Market Keeps Struggling

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The Manhattan Luxury Market Keeps Struggling

While optimism in the luxury sales segment was strong during the favourable spring market, sales are now slowing down and brokers are decidedly more anxious.

After a rocky 2016, the industry had high hopes for 2017. And the start of the year did indeed seem promising. But things began changing just after the year’s midpoint.

The luxury market logged its worst summer in terms of the number of contracts signed since 2012, according to data from Olshan Realty. While luxury contracts are ...

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Rental perks are no longer stopping the fall of rents

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Rental perks are no longer stopping the fall of rents

September’s vacancy rate was the highest it’s been all year, hitting 2.6 percent in Manhattan (source: Douglas Elliman monthly report). The median net effective rent slipped slightly to $3,334, while the share of new leases with concessions hit 27 percent, up from 15 percent last year.

In Brooklyn, the net effective median rent fell by 6 percent to hit $2,757 in September — representing the largest drop since March 2015. Meanwhile in Queens, the median net effective ...

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