August 2023 - Rava Realty

Jeff Bezos revealed as buyer on so called Florida’s ‘Billionaire Bunker’ island

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Jeff Bezos revealed as buyer on so called Florida’s ‘Billionaire Bunker’ island

Billionaire Jeff Bezos, the third richest person in the world, reportedly paid $68 million to purchase a waterfront home in Miami’s Indian Creek Village, a guard-gated island north of Miami Beach. 

The mansion Bezos reportedly purchased was built in 1965 and expanded in 1985. It spans nearly 9,300 square feet with three bedrooms and three bathrooms on a 2.8-acre lot. 

Bezos will be among other billionaires on Indian Creek, including Tom Brady, Ivanka Trump and Jared ...

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Finally, apartment rents flatten. But affordability is still a concern

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Finally, apartment rents flatten. But affordability is still a concern

According to a new residential real estate report, South Florida apartment rental prices have come back to earth after two years of big annual pandemic jumps of 7% in 2022 and 25% in 2021.Median rents this year through July have only slightly increased by less than 1%, signaling a slowdown in the previously surging rental market. 

The influx of new large apartment complexes in the region has contributed to the decline in rent hikes, adding competition to ...

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The City Needs More Housing But New Development Approvals Plummets

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The City Needs More Housing But New Development Approvals Plummets

In July, Zero buildings and zero units were approved for construction in Manhattan, and only 10 buildings and 279 units were approved for construction across all of New York City. Manhattan’s president, Mark Levine, highlighted this as a crisis and expressed the need to address the issue. 

The likely reasons for this decline are high-interest rates and the expiration of the crucial tax incentive program 421a, which provided tax breaks to developers who included affordable units in ...

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Manhattan Real Estate Market Pulse

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Manhattan Real Estate Market Pulse

The monthly contract activity stood at 816 in July, basically the same amount as last year, with just three more contracts signed and down almost 10% from the 906 historical average for the month. The Median Sales Price is $1,019,000, at the moment, 3% down from last year. The supply, which is the number of units on the market, stands at 6,418, down 6.9% from a year ago. While the number of pending sales, which is the number ...

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