Contract activity, or the number of signed contracts, is down 3.7% from last year and 9.7% from the monthly historical average. The median sales price for a Manhattan apartment is $1.19M, reflecting a 16.4% increase compared to a year ago. The supply, or the number of units available on the market, has decreased by 0.6% annually. Meanwhile, the number of pending sales in Manhattan has risen 14.3% year-over-year. The Market Pulse, which represents the pending-to-active ratio, stands at 0.46, indicating …
by Riccardo Ravasini 
A high-profile sale at 220 Central Park South has set the record for New York City’s most expensive deal of the year. Media executive Byron Allen sold his five-bedroom condo for $82.5 million just one year after purchasing it for $75 million.
The buyer, connected to Huizenga Holdings, joins an elite group of owners in one of the city’s most exclusive addresses. Designed by Robert A.M. Stern, the limestone-clad tower is known for attracting billionaire buyers and record-breaking sales.
The …
by Riccardo Ravasini 
Miami Beach is exploring Blue Zone certification, aiming to enhance well-being through infrastructure, social engagement, and wellness initiatives. Walkability expert Dan Burden and a team from Blue Zones are assessing the city’s potential, focusing on traffic safety, healthy food access, and community spaces.
Vice Mayor Tanya Bhatt and officials showcased efforts like South Pointe Park while acknowledging challenges such as congestion and affordability. With a $220,000 investment in a six-month study, Miami Beach hopes to become South Florida’s first Blue Zone city, fostering a lifestyle prioritizing …
by Riccardo Ravasini 
One of Miami Beach’s historic oceanfront hotels is making a comeback after a $100 million renovation that blends modern updates with restored original details. The Shelborne, located at 1801 Collins Ave., is now accepting stay reservations starting May 1, 2025.
Originally built 85 years ago, the hotel was an early example of the Miami Modernism (MiMo) style of the 1950s. Following the renovation, it features 251 rooms—down from 275—with warm, earthy tones, ceramic sconces, handcrafted ceramics, and limestone flooring.
The Shelborne’s revival is part of a larger wave …
by Riccardo Ravasini
A Closer Look
Miami-Dade’s luxury market rebounded in December, with single-family homes and $1M+ condos seeing strong demand after a slow summer. However, condo sales remain sluggish due to financing challenges, rising assessments, increasing monthly fees, and new Florida laws requiring planned repair spending starting in 2025.
Despite these challenges, South Florida leads the nation in price appreciation, migration, luxury sales, and international buyers. Despite mortgage rates above 7%, Miami’s total sales jumped in December 2024, reflecting a high-demand, low-supply market, and remains a top real estate …
by Riccardo Ravasini 
NYC airports set a new record in 2024 with 149.9 million travelers, surpassing 2023’s 143.8 million. The holiday season saw a surge, with December hitting an all-time high of 12.5 million passengers.
PANYNJ Chairman Kevin O’Toole credited the growth to $30 billion in airport upgrades, including JFK’s massive redevelopment, LaGuardia’s transformation into the nation’s top-ranked airport, and Newark Liberty’s ongoing modernization.
(source: 6sqft.com, picture: Miguel Angel Sanz)
by Riccardo Ravasini