Fort Lauderdale commissioners voted to approve moving forward on a feasibility study for an underground transportation system using a network of tunnels designed by Elon Musk’s The Boring Company.
The system will be known as The Olas Loop, and will initially run 2.7 miles.
It won’t be a traditional mass-transit system, but will instead use Tesla cars that will be open to the public, which will ride through the underground tunnels.
Initially, it is planned to run from downtown to the beach, with a trip expected to take just 3 minutes, at an …
by Riccardo Ravasini 
Move over, Williamsburg. Here comes … Midtown?
The skyscraper-laden district stretching from 34th Street to Central Park South was disemboweled by the pandemic and continues to bleed office tenants. But while older office towers languish, young home buyers have flocked to the neighborhood, eager to take advantage of prices that haven’t soared like they have in the rest of Manhattan and much of Brooklyn.
The pandemic accelerated a pre-pandemic trend of hipper residents moving to Midtown, as stodgy bankers and executives moved away, usually for bigger spaces elsewhere in the city or the …
by Riccardo Ravasini 
The frenzied pace of the New York City sales market is calming down, a result of more listings on the market and slowing demand. With less competition, buyers have gained some breathing room—they can take a day or two to make an offer—something not possible in recent months.
It’s not exactly a swing from a seller’s to a buyer’s market, at least not yet—it’s more like a nudge.
You can expect a slower pace to return this summer, when the market usually takes a …
by Riccardo Ravasini
Every week we hear of multi-million dollar properties going on the market and sometimes the asking price seems exorbitant, because it is!
With this report, we are going to tell you at what prices luxury properties are actually closing and what was their actual negotiability factor, anybody interested in getting a discount?
There were 122 closings at $4 million and above in April 2022, 58 less than March. The Average Closing Price was $8,462,744 down -12,6%, meanwhile, the Median Closing Price was $5,987,744 down -8.5%. The Negotiability Factor, that is the average discount from the last asking price, was 6% a slight change from the 6.7% registered during the previous …
by Riccardo Ravasini
Miami is now making a push to host the World Cup final in 2026, according to the Palm Beach Post.
Tom Garfinkel, the Miami Dolphins CEO who has brought Formula 1 racing and the Miami Open tennis tournament to Hard Rock Stadium, is behind the effort.
According to Garfinkel, FIFA is impressed with Hard Rock, and they “understand the importance of Miami as a global city and as a great soccer city and as a dynamic city.”
The last Formula 1 event is already being seen as a huge success, and is helping Miami’s World Cup …
by Riccardo Ravasini
“Newly signed contracts for single families declined month over month for the first time in 2022. In addition, condo new signed contracts fell for the second time. However, the jump in mortgage rates took some of the edge off of still elevated demand, enabling seasonal expansion of new single family listings.”
(data source: millersamuel.com)
by Riccardo Ravasini