February 6, 2019 - Rava Realty

How is the market in Miami Beach?

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How is the market in Miami Beach?

The 2nd Quarter 2018 Miller-Samuel report tells us that the Miami Beach market had more overall sales activity with a lower pace of inventory growth and a shift towards larger units. There were more transactions, +10.7% from the year-ago quarter. There were more condo sales of three, four and five bedroom homes. Although listing inventory has been rising for more than four years, the rate of growth has slowed considerably in the past year (“only” + 3.9%), which is good. ...

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Glamping in the City

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Glamping in the City

When Governors Island was decommissioned and an organization appointed to oversee its redevelopment, Peter Mack, the CEO and founder of Collective Retreats, saw a golden opportunity.

He approached the organization with a compelling offer: create up to $700 per night accommodation with minimal building costs. How did he do it? By setting up luxury tents with a few shared amenities, as the Associated Press reported. The glamping experience features electricity, full beds with fine linens, an on-site restaurant and sweeping views ...

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NYC is a buyer’s market

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NYC is a buyer’s market

In Manhattan, apartments priced below $1 million are piling up (Bloomberg News reports data from Streeteasy). Inventory climbed 27 percent in June from a year earlier — to the highest level for the month since 2013.

It’s essentially a buyers’ market across the board, and the total number of available homes in Manhattan is at the highest for the month since 2011. In Brooklyn and Queens, total inventory for June was the most since 2008.

In September, listings are expected to see ...

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Under $500 per square foot in NYC?

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Under $500 per square foot in NYC?

In many other places within the United Sates, one could live a life a luxury for $500 per square-foot, however, such is not the case in New York City, the nation’s second most expensive city to live in. A study by PropertShark shows that it’s nearly impossible to find homes priced under $500 per SF in Manhattan while options are available in the other boroughs, mainly the Bronx and Staten Island. The study found that in Manhattan, every zip code ...

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NYC: Surge In New Development Filings

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NYC: Surge In New Development Filings

After two years of declining applications following the frenzies of 2014 and 2015, the preliminary numbers for 2018 appear to be signaling a major uptick in activity. Year-over-year filings of new residential units have grown substantially, rising from 9,134 in the first six months of 2017, to 15,305 in 2018 — an increase of 67.5%.

The uptick has been spread through each borough, with all five seeing year-over-year improvements in their DOB new unit counts. The biggest change has been in ...

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South Florida

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South Florida

European and Canadian investors now account for a much bigger share of foreign investment in the residential and commercial markets in South Florida, according to a report by the National Association of Realtors (NAR) and data provided by Real Capital Analytics (RCA). And Asian countries remain engaged in the area. Singapore has been among the top five investors three times in the past three and a half years, and China accounted for the second largest source of foreign investment in ...

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