Riccardo Ravasini, Author at Rava Realty - Page 16 of 104

Cash buyers are back as mortgage rates rise

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Cash buyers are back as mortgage rates rise

An analysis of citywide sales data by The Real Deal shows that all-cash deals make up a more significant portion of the New York City market than at any time on record, accounting for 60% of condo sales in Manhattan this year. Cash buyers have also successfully scooped up 37% of condo deals in Brooklyn this year and 40% in Queens. All three figures are a record since at least 2018.

This trend can be attributed to rising mortgage rates above 6%, raising borrowing costs ...

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Manhattan Market Pulse: May 2023

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Manhattan Market Pulse: May 2023

The monthly contract activity stood at 850 in April, down 39.6% compared to last year and up 2% from the 1088 historical average for the month of April. The Median Sales Price is $1,019,000, at the moment, down -9.4% from last year. The supply, which is the number of units on the market, stands at 7,469, virtually unchanged from a year ago. While the number of pending sales, which is the number of currently in contract units, stands ...

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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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