Riccardo Ravasini, Author at Rava Realty - Page 75 of 104

Flatiron’s shared office space boom

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When real estate professionals talk about the boom in shared office space, most think of WeWork. But the $10 billion unicorn is only one of dozens of companies vying for market share in New York City. The Flatiron District alone is home to 26 coworking spaces run by 20 different companies, according to a new report by the Flatiron 23rd Street Partnership, a local business improvement district. Some, like WeWork’s 108,000-square-foot space at 79 Madison Avenue, take up multiple floors. ...

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A Bronx Renaissance

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The Bronx, which has long fought its image of a borough besotted by arson, poverty and urban decay, is now a hot commodity among the same investors and developers who overlooked it for years. In 2014, it saw an influx of $1.2 billion worth of real estate investment, a 26 percent jump from the prior year, according to data from Bronx Borough President Ruben Diaz Jr.’s office.

Some of the key commercial and retail projects reshaping the Bronx include: the redevelopment ...

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Miami in the Top 10

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Miami is one of the world’s Top 10 destinations for real estate investment capital (data CBRE).
The Miami metro area ranked 7th globally with $7.7 billion in foreign and domestic real estate capital investment in the first half of 2015, according to the real estate brokerage and advisory firm. That is up from a 12th-place ranking for all of 2014.
Given that 15 of the Top 20 were cities in the United States, it appears that real estate investors are ...

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Miami: Big Deal Closes

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After a 17-month contract period, the most expensive home ever sold in Miami has finally closed — for a whopping $60 million. That’s $10 million over the asking price.
The 12,516-square-foot penthouse in the 18-story Faena House condominium tower sits on Miami Beach’s widest stretch of white sand.
It was developed and built by Argentina’s Faena Group and contains 47 residences, but the penthouse is by far the most luxurious.
The glass-walled apartment has five bedrooms, two custom kitchens, and ...

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Empire State of Mind

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Real estate in gateway cities has always sold at a premium, but in the last decade, the gap between top-tier cities and the rest of the world has widened considerably.
In London, the average price per square foot for luxury apartments has more than doubled since 2006. And in New York, prices are up by more than 50 percent in that same time, according to data from the company Knight Frank.
On the flip side, the S&P/Case-Shiller Index, which measures ...

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Manhattan’s development

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Manhattan development has decidedly grown to huge proportions during the current construction craze.
Overall, developers here have more than 64 million square feet of residential development in the works, comprised of over 440 projects and an astounding 47,285 units, according to The Real Deal magazine’s analysis of building permits and offering plans filed between Jan. 1, 2011 and July 31, 2015. If there was any doubt that Manhattan is where the big dogs play, the volume of construction here bested ...

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