Here’s a first look at Eighty Seven Park, the newly completed beachfront residential project in Miami Beach. It is Renzo Piano’s first residential building in the Western Hemisphere.
“When I look at how the glass and suspended decks of the building appear to float, and how they catch the sun and the light of the ocean, it’s fantastic,” said Renzo Piano.
The building has attracted buyers including billionaire Jonathan Newhouse, the chairman of Condé Nast International, who spent $6.2 …
by Riccardo Ravasini 
The average Manhattan apartment sold between 2010 and 2019 was just under 1,135 square feet, the smallest in more than three decades, according to Miller Samuel’s 10-year report on the Manhattan sales market.
Median sales prices for studio apartments rose by about 23 percent over the 10-year period, while spacious four-bedrooms saw median prices slide by about 3 percent. Sale prices for one- and two-bedroom apartments also grew over the decade, by 32.5 percent and 28 percent, respectively.
Overall, the …
by Riccardo Ravasini
Extell has revealed renderings of the Central Park Tower’s 100th floor residential club. Perched over 1,000 feet above Billionaires’ Row, this will be the highest residential lounge in the world.
The club will span 8,300 square feet and include a private ballroom, a dining room, a bar, a full-service kitchen, and a wine and cigar lounge.
Central Park Tower is slated to be finished by the end of the year.
(source: NewYork YMBY)
by Riccardo Ravasini 
Miami’s residential real estate market is up significantly from last year, and some records are being broken, according to newly released data from the Florida Association of Realtors.
A total of 3,848 condos and townhouses closed in the Miami-Fort Lauderdale-West Palm Beach area during December 2019. That is an increase of 17.9% compared to the year before. Prices were up 7.9% to an average of $205,000.
For single family homes in the Miami area , sales volume was 3,915 for …
by Riccardo Ravasini The weak sales market is still a key driver of rental demand and rising rents.
The number of new leases fell for the 6th straight month as landlords continued to be more successful at the time of lease renewal, down 2.1% from the same period last year.
The Median rental price reached $3,595 up 5.0% from the previous year.
The net effective median rent rose 4.6% to $3,472 from the same period last year. Not only …
by Riccardo Ravasini 
Overall, monthly rents predicted to rise by 2% to $1,677
South Florida will see nearly 16,000 apartments delivered this year, leading rents to flatten in markets with added supply, according to a recently released report.
Fueled in part by population growth, the number of apartment deliveries will be nearly double the 8,871 units that were completed in South Florida last year, according to Berkadia’s annual report and 2020 forecast. That marks the highest number of annual deliveries so far this …
by Riccardo Ravasini