April 2023 - Rava Realty

Dolce & Gabbana to brand a condo tower in Miami

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Dolce & Gabbana to brand a condo tower in Miami

The Italian designer is the latest fashion house to work with a developer on branded condos in South Florida, as it expands into real estate worldwide.

The development in Miami is likely JDS’ 888 Brickell project; the supertall, at 1,049 feet tall, could become among the tallest in Miami, with other towers also planned at that height.

The branded residences trend has boomed in South Florida, brands such as Porsche Design, Armani/Casa, Aston Martin, Missoni, Ritz-Carlton and others have ...

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South Florida homes start selling at discounts

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South Florida homes start selling at discounts

Florida’s luxury residential real estate market has been breaking records with properties selling for never-before-seen prices. However, the overall slowdown in sales has resulted in more price cuts and longer closing times.

Miami Beach is one city where price reductions or discounts are becoming more prevalent, with nearly all $5 million-and-up sales trading at a discount off the asking price. The slowdown in home sales has created a divide between older homes in need of repairs and new or renovated properties, with ...

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NYC Lands First “Rat Czar”

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NYC Lands First “Rat Czar”

Kathleen Corradi, a city education official, will take the long-promised job: “You’ll be seeing a lot of me, and a lot less rats.”

So far, the new czar already announced she would be taking dead-aim at what even the mayor himself called a “simple thing” that rodent-concerned residents say the city ignores: trash bins.

“Fighting rats starts with fighting litter, garbage and food waste,” Corradi said. “Every anti-rat initiative starts with making sure food related waste gets into bin that rats can’t.”

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Manhattan retail remains on the upswing

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Manhattan retail remains on the upswing

Those anticipating a downward correction in the Manhattan retail market will have to wait for another quarter.

According to a report by CBRE, ground-floor retail availability decreased across 16 of Manhattan’s shopping corridors in the first quarter of 2023, marking the seventh consecutive quarter of a drop in availability. The average asking rent increased to $638 per square foot, a rise of 3.7% from Q4 2022 and 8% YoY, with this being the third straight quarter of asking rents increasing. The aggregate ...

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Manhattan Market Pulse – March 2023

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Manhattan Market Pulse – March 2023

March was a hot month across the city
The monthly contract activity stood at 1,164 in March, down 22% compared to last year, up 2.2% from the 1138 historical average for the month of March, and 39% more deals closed than in February. Newly built or newly converted apartments across the city saw a 25% increase in deals compared to pre-pandemic averages for the month. The largest contract to close in March was a $66.5 million sale for two penthouse apartments at Naftali Group’s ...

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