June 2023 - Rava Realty

Messi’s Real Estate Properties in Miami and the magnet effect

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Messi’s Real Estate Properties in Miami and the magnet effect

Lionel Messi, widely recognized as the world’s most accomplished soccer player, has selected Miami as his new residence, generating significant excitement in the city’s real estate market.

Messi now possesses three units in Sunny Isles: a $5 million unit on the 47th floor of the Porsche Design Tower, and units on the 40th and 43rd floors of the nearby Trump Royale Tower, each purchased for slightly over $1 million.

Additionally, Messi’s family acquired a condominium on the ninth floor of Regalia, another oceanfront tower in Sunny Isles, for $7.3 million.

Nevertheless, these properties may only partially meet ...

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The Underline’s last phase

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The Underline’s last phase

Renowned for its diverse offerings, the recently disclosed blueprints for the last segment of The Underline depict an array of captivating amenities. Expect an exquisite artisan market, a canine-friendly area featuring an agility course, outdoor pickleball, a skate park, half-court basketball, a miniature soccer field, a delightful tropical garden playground, self-sustaining micro-forests, elevated walkways adorning botanical rainwater ponds, and an abundance of beautiful public art will be seamlessly integrated throughout this $140 million urban trail and linear park, spanning a verdant expanse of 10 ...

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New development market defies seasonal norms

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New development market defies seasonal norms

Usually, the ideal time to be on the market is to launch sometime in March or April, but we are seeing a different trend, at least in terms of new developments. Despite a slowdown in April due to various factors such as holidays, spring breaks, and the First Republic bank failure, New York City’s new development got a fresh wind in May.

Surprisingly, higher interest rates have boosted demand for new developments, as potential sellers in the resale market are hesitant to list and lose their lower rates. Developers have no ...

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Are things kinda sorta looking normal again?

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Possibly. It is accurate to say that interest rates have been gradually inching up in recent months. However, it’s easy to forget that securing a 30-year fixed mortgage at a rate as low as 2.75% was highly unusual, especially after enjoying historically low interest rates for an extended period.

Supply and demand in the real estate market are actually within normal ranges. The ...

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Manhattan Real Estate Market Pulse: June 2023

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Manhattan Real Estate Market Pulse: June 2023

The monthly contract activity stood at 1,143 in May, down 34.8% compared to last year and up 1.2% from the 1,102 historical average for the month. The Median Sales Price is $1,023,000, at the moment, up 3.2% from last year. The supply, which is the number of units on the market, stands at 7,530, down 2.2% from a year ago. While the number of pending sales, which is the number of units currently in contract, stands at 3,332, ...

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