The New York City transit system has introduced a new fleet of subway cars, called the R211, on the A-train line. The cars come with wider doors, security cameras, and digital screens, providing a more modern passenger experience. The 58-inch wide door openings, eight inches wider than standard doors, are designed to speed up boarding and reduce the amount of time trains sit in stations. The R211s are the first new subway cars to be introduced in five years.
by Riccardo Ravasini Construction has begun on pedestrian plazas and shared streets along Broadway in the Flatiron and NoMad areas of New York City. The project is part of a larger scheme called “Broadway Vision,” which aims to redesign the famous street between Columbus Circle and Union Square to prioritize pedestrians over cars. The section of Broadway between 25th and 27th streets will become pedestrian plazas, while between 27th and 32nd streets, Broadway will become a shared street with 5 mph speed limits. …
by Riccardo Ravasini The residential Brooklyn Tower at 9 DeKalb Ave., standing tall at 1,000 feet, is set to hit a record-breaking price point. Douglas Harmon and Adam Spies at Newmark are currently marketing the property, and it’s expected to fetch a price of over $600 million. This news was reported by Green Street in its Real Estate Alert, which stated that only 13 of the city’s residential buildings have ever sold for more than $500 million. Although the sale won’t include the …
by Riccardo Ravasini 
The monthly contract activity stood at 816 in February, down 31.1% compared to last year and down 13.9% from the 948 historical average for the month of February. The Median Sales Price is $1,075,000, at the moment, down -6.7% from last year. The supply, which is the number of units on the market, stands at 6,429, up 1.7% from a year ago. While the number of pending sales, which is the number of currently in contract units, stands at 2,487, …
by Riccardo Ravasini 
The average asking rent in the Miami metro area was $2,141 in the fourth quarter of 2022, up 13.3% from a year earlier, per economic research firm Moody’s Analytics.
The big picture: Many would-be home buyers chose to rent longer last year, sustaining apartment demand. But folks are hitting their spending limit.
For the first time in over two decades, households now have to spend 30% of their income on average rents.
The expected surge in supply could help bring down prices.
Yes, …
by Riccardo Ravasini