The proposed 180-foot Harlem Wheel would rise alongside the Hudson River as part of the Harlem Gateway Waterfront Initiative to transform the 125th Street piers into a tourist destination, running several attractions including “Harlem Rocket” speedboat tours and a Harlem Maritime Center & Museum.
The wheel would open in summer 2024 and could draw millions of riders — who’d pay between $15 and $20 a ride — every year, according to the Harlem Gateway Waterfront Initiative website.
“The Harlem Gateway Waterfront Initiative will stimulate local spending,” reads a Harlem Water Front’s …
by Riccardo Ravasini 
Roughly half of Manhattan’s workers were in the office during the average workday as of late January, according to a Partnership for New York City survey.
The pandemic emptied out Manhattan’s office buildings and shifted scores of employees to remote work. But as coronavirus restrictions were lifted, only a relative handful of workers returned to offices.
The survey found only 9 percent of workers are back at the office five days a week, a number that’s unchanged from September. However, the number of fully remote workers did tick down from …
by Riccardo Ravasini 
The monthly contract activity stood at 592 in January, down 37.8% compared to last year and down 23.7% from the 776 historical average for the month of January. The Median Sales Price is $1,075,000, at the moment, down -14% from last year.
The supply, which is the number of units on the market, stands at 6,078, up 2.7% from a year ago. While the number of pending sales, which is the number of currently in contract units, stands at 2,159, …
by Riccardo Ravasini 
B Group Capital Management submitted a $102 million stalking horse bid for nearly 20 acres in Miami’s Upper Eastside and El Portal that are tied to a lawsuit alleging *EB-5 fraud.
The Miami-based real estate investment firm seeks to acquire the former U.S. immigration building site spanning 3.5 acres at 7880 Biscayne Boulevard, and a 15.9-acre former trailer park at 8500 Biscayne Boulevard.
Both properties are now controlled by a court-appointed receiver, following a settlement agreement approved last month with …
by Riccardo Ravasini 
Miami shows no signs of a market crash. Here’s what experts say to expect instead.
1. The market will hold strong.
Home sales prices could take a hit if mortgage rates were to continue surging, but that doesn’t seem to be the case, forecasts Ines Hegedus-Garcia, executive VP of Avanti Way Realty.
“This sustained decline [in mortgage rates] will help revive homebuying and we should see a more robust market for home sales in 2023,” she says.
2. …
by Riccardo Ravasini 
Residential market
The monthly contract activity stood at 599 in December, down 46.4% compared to last year and down 9.1% from the 788 historical average for the month. The supply, which is the number of units on the market, stands at 5,860, up almost 2% from a year ago. While the number of pending sales, which is the number of units that are currently in contract, stands at 2,282; this value is 41.6% lower than a year ago. The Median …
by Riccardo Ravasini