January 19, 2023 - Rava Realty

Investment firm bids $102M for 20 acres in Miami’s UES

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Investment firm bids $102M for 20 acres in Miami’s UES

B Group Capital Management submitted a $102 million stalking horse bid for nearly 20 acres in Miami’s Upper Eastside and El Portal that are tied to a lawsuit alleging *EB-5 fraud.

The Miami-based real estate investment firm seeks to acquire the former U.S. immigration building site spanning 3.5 acres at 7880 Biscayne Boulevard, and a 15.9-acre former trailer park at 8500 Biscayne Boulevard.

Both properties are now controlled by a court-appointed receiver, following a settlement agreement ...

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What 2023 holds for Miami real estate?

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What 2023 holds for Miami real estate?

Miami shows no signs of a market crash. Here’s what experts say to expect instead.

1. The market will hold strong.

Home sales prices could take a hit if mortgage rates were to continue surging, but that doesn’t seem to be the case, forecasts Ines Hegedus-Garcia, executive VP of Avanti Way Realty.

  • “This sustained decline [in mortgage rates] will help revive homebuying and we should see a more robust market for home sales ...
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Manhattan Real Estate Market Pulse: Jan. 23

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Manhattan Real Estate Market Pulse: Jan. 23

Residential market

The monthly contract activity stood at 599 in December, down 46.4% compared to last year and down 9.1% from the 788 historical average for the month. The supply, which is the number of units on the market, stands at 5,860, up almost 2% from a year ago. While the number of pending sales, which is the number of units that are currently in contract, stands at 2,282; this value is 41.6% lower than a year ago. The ...

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To open a casino in NY the auction starts at $500M

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To open a casino in NY the auction starts at $500M

New York’s bid to award up to three licenses for full-fledged casinos, which would allow live table games and create more tax revenue for the state, advanced after officials unanimously voted to formally solicit applications, with an asking price of $500 million for each license.

The board will review each application and consider several factors, including how many jobs a prospective operator plans to create, how much revenue a casino expects to bring in, and a commitment ...

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