July 2022 - Rava Realty

Miami board OK’s Beckham stadium design

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David Beckham’s proposed Major League Soccer stadium and surrounding mixed-use development just cleared another hurdle.

The Miami Urban Development Review Board approved designs for the 25,000-seat stadium and nearly 5,000-car parking garage, as well as the master plan for the broader project, which includes a hotel, offices and a public park.

The decision is another milestone for the Miami Freedom Park project, a permanent home for the Inter Miami CF soccer club that’s been nine years in the making ...

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Office occupancy in New York finally hits 40%

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Finally, good news for New York City’s office landlords as office occupancy pushed past 40 percent for the first time since the start of the pandemic. The Kastle Back to Work Barometer increased to 41.2 percent; Kastle Systems measures office occupancy by entry into office buildings.

“This is good news for our city’s recovery as the presence of office workers in the central business district is critical for retail, restaurants and other storefront businesses hit hard by the pandemic,” ...

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Florida Is The Top Ranked State For Wealth Migration

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More wealth is moving into Florida than any other state by far, according to the WSJ.

The report used data on where taxpayers recently moved, newly released by the IRS.

In the most recent year (covering 2020 income), taxpayers with a net total of $23.7 billion in adjusted gross income migrated to Florida.

Texas ranks a distant second, with $6.3 billion in AGI gained for the year.

New York and California were the biggest loserslosing $19.5 billion and $17.8 billion in AGI for the year.

(source: thenextmiami.com)

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Fort Lauderdale Votes To Move Forward On Elon Musk Tunnel System Study

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Fort Lauderdale commissioners voted to approve moving forward on a feasibility study for an underground transportation system using a network of tunnels designed by Elon Musk’s The Boring Company.

The system will be known as The Olas Loop, and will initially run 2.7 miles.

It won’t be a traditional mass-transit system, but will instead use Tesla cars that will be open to the public, which will ride through the underground tunnels.

Initially, it is planned to run from downtown to the beach, with a trip expected to take just 3 minutes, at ...

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Young, hip New Yorkers are bringing Midtown back

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Move over, Williamsburg. Here comes … Midtown?

The skyscraper-laden district stretching from 34th Street to Central Park South was disemboweled by the pandemic and continues to bleed office tenants. But while older office towers languish, young home buyers have flocked to the neighborhood, eager to take advantage of prices that haven’t soared like they have in the rest of Manhattan and much of Brooklyn.

The pandemic accelerated a pre-pandemic trend of hipper residents moving to Midtown, as stodgy bankers and executives moved away, usually for bigger spaces elsewhere in the city or ...

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Increase in listings calms frenzied NYC sales market

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The frenzied pace of the New York City sales market is calming down, a result of more listings on the market and slowing demand. With less competition, buyers have gained some breathing room—they can take a day or two to make an offer—something not possible in recent months.

It’s not exactly a swing from a seller’s to a buyer’s market, at least not yet—it’s more like a nudge.

You can expect a slower pace to return this summer, when the market usually ...

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