Gary Barnett’s Extell Development sold a sponsor unit of the Central Park Tower at 217 West 57th Street nearly 50 percent below its asking price.
The 7,984-square-foot, four-bedroom unit was offered on the market at $95 million and sold for $49.7 million—the mystery behind the buyer, who protected his identity behind an LLC.
The residence with a 2,000-square-foot terrace and an outdoor pool was the building’s most expensive until it was surpassed by an 11,535-square-foot duplex created by the merger of two apartments and …
by Riccardo Ravasini 
According to the latest Redfin investor real estate report in July, home purchases by investors in Miami and Fort Lauderdale jumped a whopping 90% in the second quarter of 2021, compared with the same period the year before.
Investors bought 2,640 homes in Miami in the second quarter of 2021, up by about 91% compared with 2020. They purchased 2,163 homes in Fort Lauderdale in the second quarter, up by 183% from the same period a year ago, and they gobbled up 1,243 homes in West Palm Beach, a 53% increase from …
by Riccardo Ravasini
There were over 4,523 sales in the 3rd quarter 2021, more than triple the amount registered in the 3rd quarter of 2020 and still over 76% higher than the same period in 2019. It’s basically an all time record for volume of transactions.
Median sales price was at $1,115,000, up year over year by +1.4% and by +8.8% from the same period two years ago. While the average sales price was $1,874,942, down 14% from 2,179,777, skewed lower by the fact that the mix of apartments-sold included more units of smaller dimensions.
But how long did it take to sell an apartment? Sellers: you might …
by Riccardo Ravasini 
According to Bloomberg, Elon Musk’s The Boring Company emerged victorious in a bid to build an underground transportation system in Fort Lauderdale.
The system will be known as Las Olas Loop, and consist of two tunnels running 2.5 miles from downtown Fort Lauderdale to the beach.
Passengers of the transit system would be driven in dedicated Tesla cars (private cars won’t be allowed). Construction is estimated to take one year once the city gives the final green light.
Miami, which is said to be seeking a similar system, is now finishing pre-development and preparing an agreement for …
by Riccardo Ravasini 
Interest in relocating to Miami has tripled since last year and now ranks higher than any other destination in the U.S., according to a new report from real estate website Redfin.com, based on a sample of about 2 million users who searched for homes across 112 metro areas.
It is the first time ever that Miami topped Redfin’s monthly rankings, which measures net inflow from other metro areas. However, Miami has been consistently in the top 10 since the list was created in 2017.
An Interest confirmed by the huge increase in demand from …
by Riccardo Ravasini 
The Thanksgiving Day Parade will march through the streets of New York City once again this year in yet another sign of a slow return to normality amid the COVID-19 pandemic.
“We are thrilled to welcome back in its full form the Macy’s Thanksgiving Day Parade, a world-renowned celebration that ushers in the magic of being in New York City during the holiday season,” said Mayor Bill de Blasio.
Public viewing will be allowed only in specific locations which will have safety procedures in place, like social distancing, face covering, and a limited …
by Riccardo Ravasini