Riccardo Ravasini, Author at Rava Realty - Page 27 of 104

Planet Hollywood returns to NYC with new Times Square location

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Planet Hollywood returns to NYC with new Times Square location

Since opening its original location on West 57th Street three decades ago, Planet Hollywood’s long-term success rate in its home city has proven spotty. But owner Robert Earl hopes the third time will be the charm.

Earl Enterprises, the restaurant chain’s parent company, has signed a lease for 17,500 square feet across four floors at 140 West 42nd Street; the restaurant will occupy the lowest floors of the building.

Planet Hollywood was a hot ticket in the early 1990s, when the likes of Arnold Schwarzenegger and Sylvester Stallone put a public ...

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Manhattan Rental Market Report

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There were 3,159 New Lease Signings in Manhattan in the month of January -49.5% from the same period last year, dipping below the decade average as listing inventory continued to collapse as prices reached record levels.

The Median Rental Price was $3,550, up +18.3% from the previous year, while the Net Effective Median Rent, the face rent, surged year over year by a record +23.3% to $3,467, the second-highest level reached in a January. This price trend indicator continued ...

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Downtown Miami gets influx of firms, boosting apartment rental prices

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Downtown Miami gets influx of firms, boosting apartment rental prices

The downtown Miami office market continued to expand over the past year, despite the pandemic, increasing the number of people living close to work and boosting residential rents in the area.

Downtown added 17 new companies that opened offices between fall 2020 and June 2021, and they are expected to bring 1,835 jobs to the city in the next three years. In exchange, the firms are eligible to receive up to $150,000 each from the city over three years depending on the number of people they employ here.

The average rent for all ...

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City’s tallest warehouse could be coming to Queens

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City’s tallest warehouse could be coming to Queens

The Goodman Group, an Australian company that owns what’s billed as the largest logistics center in the world is coming to Long Island City, where it could develop the city’s tallest warehouse.

Design sketches in the marketing materials show a building of nearly 700,000 square feet across five above-ground floors. Several of those floors, though, are double-height. So from the street, the building would appear to be as tall as roughly an 11-story office building.

(source: therealdeal.com, picture: Juan Carmy)

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First building in vast Little Haiti project gets OK

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First building in vast Little Haiti project gets OK

The Special Area Plan and development agreement include a maximum of 2,630 residences, hotel rooms, nearly 350,000 square feet of commercial-retail uses, and more than 1.9 million square feet of offices.

The first building is designed as a 25-story mixed-use building with 349 residential units, 13,010 square feet of commercial-retail uses and 10,093 square feet of office space, with an adjacent parking garage with spaces for 393 vehicles and amenities, connected to the tower.

The principal owner-developer is identified as MCD Miami LLC, along with Magic City Properties I, LLC, a subsidiary/affiliate of MCD Miami and the owner of ...

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Manhattan Luxury Reality Check

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There were 149 closings at $4 million and above in October 2021, 8 less than September. The Average Closing Price was $8,309,226 down -15.9%, meanwhile, the Median Closing Price was $5,885,500 down -2.9%. The Negotiability Factor, that is the average discount from the last asking price, was 6.27% down from -18.91% during the previous month. The pace of the market was a little faster since the Average Days On the Market were 153 compared to 183 for the properties that closed in September 2021.

If you ...

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