Construction company and landlord Related Group is adding a third condo tower to its Brickell Heights project in Miami’s financial district. The company plans to construct 515 units on land across the street from the project’s other two towers. A 60-room SLS Hotel (its South Beach location is one of the hottest hotels to hit Miami) is also part of plans for the additional tower. Arquitectonica is designing all three Brickell Heights buildings. The third tower brings the project’s total ...

The nation’s largest public Wi-Fi network launched in Harlem recently, which will bring free outdoor Internet access to thousands of residents and visitors between 110th and 120th Streets and Frederick Douglass Boulevard and Madison Avenue. This is the first phase, and access will increase to the north through May, when the zone will stretch as far as 138th Street.

Mayor Michael Bloomberg said it’s the latest step in creating a comprehensive Wi-Fi zone across all five boroughs. ...

Pricing properties becomes more art than science in New York’s high-velocity market.

In November, large developer Extell Development pulled the condominium units at its new residential tower at One Riverside Park in New York off the market temporarily to adjust pricing. According to the developer, the price tags at the 35-story glass-and-limestone building were simply too low, and 70 of the property’s 219 units had flown off the shelf in the 10 days since the offering plan had been approved by ...

Manhattan: there is a visionary project planned for the far west side of 15th Street: Pier 57. The developer behind it, Young Woo, calls it SuperPier and describes it as a powerhouse for all creative people in one location.
In 2015, a multi-tiered, 560,000-square-foot retail complex is slated to open on the property.
To refresh your memory, Woo is the guy behind the iconic Sky Garage, a luxury condo in Chelsea where each unit comes with a personal ...

Since the late 1960s, Manhattan has seen an average of roughly 12,000 new development rental units hit the market each year, according to Columbia University’s Center for Urban Real Estate. But as data from the brokerage Citi Habitats shows, only 15,723 new development rentals units came on the market from 2008 to 2012.
The pipeline of new rentals is now beginning to recover from the recession. There are some 23,000 new development rental units slated to come on ...

In recent months I talked about new condominium developments being built. For example several luxury skyscrapers are coming up on 57th Street. But even adjusting for these new constructions, the market is still in need of new “inventory” – i.e. more apartments for sale.
Many experts say that it will likely be a few years before the city sees a noticeable uptick in the number of homes on the market.
Resales seem to be moving at a slower pace since ...