March 2023 - Rava Realty

Miami dev site prices nosedive

Posted by:

Miami developer Harvey Hernandez faced a tough market competition with out-of-state high-rise builders for land deals in the city last year. However, the sellers’ attitude towards development sites has significantly changed, and they are now willing to negotiate 5 to 10 percent price discounts and better terms. Land prices in Miami’s urban core fell after the second quarter of last year due to a dwindling inventory of suitable sites for condominium and multifamily developments and rising interest rates, ...

Continue Reading →
0

Newer apartments in Miami are bigger than national average

Posted by:

Newer apartment units in the Miami metro area are averaging larger in size than those in many cities across the country, according to a new report from listing service RentCafe. The average size of newer Miami apartments is 912 square feet, nearly 3% bigger than the 2022 national average of 887 square feet. This is in contrast to the nationwide trend of shrinking apartment sizes, with newly built apartments shedding 30 square feet on average compared with 2021. ...

Continue Reading →
0

New Subway Cars with Wider Doors and Digital Screens Enter Service on Uptown A-Train Line

Posted by:

The New York City transit system has introduced a new fleet of subway cars, called the R211, on the A-train line. The cars come with wider doors, security cameras, and digital screens, providing a more modern passenger experience. The 58-inch wide door openings, eight inches wider than standard doors, are designed to speed up boarding and reduce the amount of time trains sit in stations. The R211s are the first new subway cars to be introduced in five ...

Continue Reading →
0

NYC Begins Broadway Pedestrian Plaza and Shared Street Construction as Part of “Broadway Vision”

Posted by:

Construction has begun on pedestrian plazas and shared streets along Broadway in the Flatiron and NoMad areas of New York City. The project is part of a larger scheme called “Broadway Vision,” which aims to redesign the famous street between Columbus Circle and Union Square to prioritize pedestrians over cars. The section of Broadway between 25th and 27th streets will become pedestrian plazas, while between 27th and 32nd streets, Broadway will become a shared street with 5 mph ...

Continue Reading →
0

Brooklyn’s tallest tower lists for sale

Posted by:

The residential Brooklyn Tower at 9 DeKalb Ave., standing tall at 1,000 feet, is set to hit a record-breaking price point. Douglas Harmon and Adam Spies at Newmark are currently marketing the property, and it’s expected to fetch a price of over $600 million. This news was reported by Green Street in its Real Estate Alert, which stated that only 13 of the city’s residential buildings have ever sold for more than $500 million. Although the sale won’t ...

Continue Reading →
0
Page 1 of 2 12