September 20, 2023 - Rava Realty

Floridians like to remain in the Sunshine State

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Floridians like to remain in the Sunshine State

Florida is retaining its residents at a remarkable rate, with 72.7% of those born in the state choosing to remain as of 2021, ranking it sixth in the nation for resident retention. This “stickiness” factor significantly impacts Florida’s economic growth, as a stable population and workforce are vital for a state’s prosperity.

The states with the highest resident retention rates are Texas (82%), North Carolina (75.5%), Georgia (74.2%), California (73%), and Utah (72.9%).

On the other end of the spectrum, Wyoming ...

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Dolce&Gabbana joins the Real Estate world

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Dolce&Gabbana joins the Real Estate world

In a recent announcement, Dolce & Gabbana, the renowned Italian fashion titan, has taken a bold step into the world of luxury real estate through a strategic partnership with the esteemed developer Michael Stern and his JDS Development Group. Dolce & Gabbana has unveiled plans for two exclusive residential ventures as part of this newfound venture.

The first development is set to grace the vibrant city of Miami, and this anticipated partnership is widely believed to be linked to JDS Development Group’s renowned 888 Brickell Avenue project, ...

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Will Manhattan Be the Next Hollywood?

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Will Manhattan Be the Next Hollywood?

Manhattan is set to become a new hub for the film and content industry with plans for a massive 266,000 square-foot studio at Pier 94 on the Hudson River’s West Side. This project is a joint venture between Blackstone and Vornado.

Additionally, there’s a significant 11-soundstage studio in Queens, located in the old Steinway Piano Factory, in a partnership involving Wildflower and Robert DeNiro’s Wildflower Studios. This expansion is part of a larger trend, with over 130 new production facilities added in New York over the past ...

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Tourists are back in New York City

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Tourists are back in New York City

New York City is experiencing a tourist resurgence, highlighted by record-breaking attendance at the U.S. Open and a nearly 10% increase in jobs within the hotel and restaurant sectors.

Nevertheless, Chinese travelers remain notably absent due to travel restrictions and long visa wait times; NYC remains on track to welcome an estimated 63.3 million visitors this year, representing a 12% increase from the previous year. Times Square, in particular, has witnessed a vibrant revival, with pedestrian traffic exceeding pre-pandemic levels and spending rebounding to 92% of ...

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Manhattan Market Pulse – September 2023

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Manhattan Market Pulse – September 2023

The monthly contract activity stood at 796 in August, with 28 fewer contracts signed than last year and down 5% from the 841 historical average for the month. The Median Sales Price is $1,180,000 at the moment, basically the same amount as last month and just 1.6% down from last year. The supply, the number of units on the market, stands at 6,480, down 4.2% from a year ago. While the number of pending sales, which is the ...

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