December 2021 - Rava Realty

City’s tallest warehouse could be coming to Queens

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City’s tallest warehouse could be coming to Queens

The Goodman Group, an Australian company that owns what’s billed as the largest logistics center in the world is coming to Long Island City, where it could develop the city’s tallest warehouse.

Design sketches in the marketing materials show a building of nearly 700,000 square feet across five above-ground floors. Several of those floors, though, are double-height. So from the street, the building would appear to be as tall as roughly an 11-story office building.

(source: therealdeal.com, picture: Juan Carmy)

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First building in vast Little Haiti project gets OK

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First building in vast Little Haiti project gets OK

The Special Area Plan and development agreement include a maximum of 2,630 residences, hotel rooms, nearly 350,000 square feet of commercial-retail uses, and more than 1.9 million square feet of offices.

The first building is designed as a 25-story mixed-use building with 349 residential units, 13,010 square feet of commercial-retail uses and 10,093 square feet of office space, with an adjacent parking garage with spaces for 393 vehicles and amenities, connected to the tower.

The principal owner-developer is identified as MCD Miami LLC, along with Magic City Properties I, LLC, a subsidiary/affiliate of MCD Miami and the owner of ...

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Manhattan Luxury Reality Check

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There were 149 closings at $4 million and above in October 2021, 8 less than September. The Average Closing Price was $8,309,226 down -15.9%, meanwhile, the Median Closing Price was $5,885,500 down -2.9%. The Negotiability Factor, that is the average discount from the last asking price, was 6.27% down from -18.91% during the previous month. The pace of the market was a little faster since the Average Days On the Market were 153 compared to 183 for the properties that closed in September 2021.

If you ...

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NYC: more buyers than new listings, but ‘shortages’ are not imminent

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NYC: more buyers than new listings, but ‘shortages’ are not imminent

In 2021, new signed contracts for Manhattan and Brooklyn co-ops, condos, and townhouses outperformed last year, with new listings struggling to keep pace with demand.

As a result bidding wars are increasing, the Covid discount is shrinking, and prices are on the rise in NYC.

In November, for example, new signed contracts for Manhattan co-ops under $500,000 increased by 52.7 percent over November 2020, while new listings for the same price category fell by 15.3 percent, according to the latest edition of the Miller Samuel Report. Manhattan condos priced $500,000 to $999,000 saw new signed contracts increase ...

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The NYC neighborhoods to watch in 2022

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The NYC neighborhoods to watch in 2022

Soho, Dumbo, and Greenwich Village top a list of New York City neighborhoods to watch in 2022, according to a new report from StreetEasy that looked at areas with the biggest surge in interest among buyers, renters, and sellers.

After being hit very hard by the pandemic, Manhattan is now seeing renewed interest as shopping, nightlife, and cultural institutions reopen. There’s lots of housing buzz about Soho in particular, a result of proposals to rezone the area and add more apartments. The neighborhood saw a 48 percent increase in listing searches in 2021 over ...

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