July 2016 - Rava Realty

Brexit a boon for New York real estate?

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Even before Britain shocked the global markets and voted to break off from the European Union, international buyers were looking to move investments to New York and away from London. Amid the uncertainty caused by “Brexit”, London’s housing market is expected to take a hit — though it’s unclear how severe the blow will be and how long it will last is — and its status as a global gateway city could be in jeopardy. Some experts are predicting London ...

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What is old is new again

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In an era of soaring glass skyscrapers, some developers are using a vintage look to differentiate their buildings and close deals in a tightening market. New York City developers are increasingly turning to terra cotta and other natural materials to court buyers seeking authenticity, artisanship and old-world charm, despite costs that often approach $100 more per square foot than modern glass. For instance, the 14-unit Fitzroy in Chelsea, developed by JDS Development Group, has a terra cotta façade and copper-framed ...

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Pokemon Go craze extends into real estate

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Thousands of businesses across the country are already leveraging the new gaming app, “Pokémon Go,” to promote their locations as hubs where game players, who number in the millions nationwide, can catch Pokemon — all in hopes to lure potential customers in through their doors. This thinking has also attracted the attention of real estate brokerages where they could use Pokemon Go to draw people to open houses and leasing offices.

In fact, some realtors are including a property’s proximity to ...

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Miami’s housing market is coming down to earth

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According to the newly released Elliman reports, the Miami market is transitioning from this hyperbolic period that was unsustainable to a market with a more moderate pace.

For the mainland, sales dropped by 12.5% year-over-year, from 5,016 homes and condos sold last year to 4,390 in this year’s second quarter. Miami Beach fared much worse with sales declining 24.7%, from 1,186 deals during 2015’s second quarter to 893 this year.

One major reason behind the ongoing sales slowdown is oversupply: on the ...

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