New York investors interested in Miami are making a beeline for downtown Miami — specifically the area between the Miami River to Northeast Sixth Street and east of I-95 to Biscayne Bay. In fact, over the past two years, New Yorkers have spent at least $586.5 million on property in that area, according to Sterling Equity Commercial. In total, New York buyers acquired at least 1.28 million square feet of buildings and at least 1.1 million square feet of land ...

Noted art dealer Laurence Gagosian put down nearly $13 million for a penthouse at the 18-story, 42-unit tower Faena House, according to Miami-Dade County records. The Armenian American art collector owns the Gagosian Gallery art galleries in the United States, as well as London, Paris, Rome, Athens, Geneva and Hong Kong. Spanning 4,730 interior square feet (which translates to $2,747 per square foot), the penthouse comes with four bedrooms, six bathrooms and one half-bath as well as a 1,516-square-foot terrace. ...

Strong Canadian investment in the Manhattan commercial property market is expected to continue in 2016 after quadrupling and hitting a record level in 2015. Canadians accounted for almost a third of the $25.6 billion in foreign capital that poured into Manhattan commercial properties last year, with investment swelling to $8.3 billion from $1.97 billion a year earlier, according to data from Real Capital Analytics.
Rising purchase prices and a weaker Canadian dollar, which fell more than 16 percent against the ...

Condominium-plan submissions to the New York State Attorney General are the highest they’ve been since 2007, according to a The Real Deal Magazine analysis of applications data. The final unit count for 2015 will come nowhere close to pre-crash 2005 and 2006 levels. However, some argue that the lower numbers are healthy for the market. Through the end of November 2015, applications for approximately 12,650 residential condo units were submitted to the AG. That’s more than the 12,000 submitted for ...