Riccardo Ravasini, Author at Rava Realty

Miami-Dade’s SMART Rapid Transit Plan is on its way

Miami-Dade County’s plan to build six new transit corridors advanced in 2020, and five of the six corridors now have a mode of transportation selected.

The mass transit expansion is known as the SMART Plan.

Here’s a look at what commissioners chose to build for each of the corridors:

Beach Corridor – A monorail will run 3.45 miles, from downtown Miami’s Omni station to 5th Street in South Beach.
Northeast Corridor – Commuter rail has been selected, ...

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26
JAN
2021

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Another phase of the High Line is coming

Posted by: Riccardo Ravasini

The elevated park, which runs along Manhattan’s Far West Side and through the Hudson Yards megaproject, will be expanded to connect the newly opened Moynihan Train Hall, the New York Times reported.

The new 1,200-foot pathway will link the final section of the High Line at West 30th Street and 10th Avenue to a pedestrian walkway at the Manhattan West megaproject, developed by Brookfield Properties, which abuts the new train hall.

Gov. Andrew Cuomo told the ...

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22
JAN
2021

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Manhattan Real Estate Sales Market Update | 4th Quarter 2020

Posted by: Riccardo Ravasini

In Manhattan there are signs of improvement for the sellers, as the sales volume, listing inventory, months of supply and other indicators got better from the prior quarter, although remaining lower compared to a year ago.

The market share of cash buyers fell to a new record low (40.4%) given the current low interest rates.

Talking by ...

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21
JAN
2021

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2020, 4Q20, fourth, manhattan, market, market update, new york, new york city, NYC, quarter, real estate, report, sales, update

Buyers who bet on NYC’s comeback can score a discount. But for how long?

Posted by: Riccardo Ravasini

Since the reopening of the marke last June, 70% of the contracts signed came from a listing with a price cut. (source: ubrandigs)

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28
DEC
2020

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US home prices jump at record rate

Posted by: Riccardo Ravasini

Home prices are on the up, but that may lead to trouble in the future.

The median cost of a single-family home jumped 12 percent in the third quarter to $313,500, marking the biggest year-over-year increase since 2013, according to data from the National Association of Realtors that was first reported by Bloomberg.

“Favorable mortgage rates will continue to bring fresh buyers to the market,” said Lawrence Yun, NAR’s chief economist. “However, the affordability situation will not improve even ...

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27
NOV
2020

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Another Month Of Double-Digit Gains For Miami’s Condo Market In October

Posted by: Riccardo Ravasini

Miami’s condo market continued to show an increase in sales volume and a decrease in inventory last month, according to a new report from Miller Samuel.

The number of condos that were put into contract in Miami-Dade during October was up 12.8% compared to the same period in 2019. In Broward, condo market contracts were up 86% for the month, and in Palm Beach the increase was 155%.

Condo inventory in Miami has been shrinking since 2018, and that ...

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24
NOV
2020

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2020, broward, condo, dade, market, Miami, october, real estate, report