Adams was heavily supported by business interests and real estate in particular. However, that was not the primary reason he won the Democratic primary, nor does it mean he will be in developers’ pockets when he takes office in January: His campaign platform calls for “aggressive” housing construction, but he has also blamed development for increasing rents in communities of color, criticized Brooklyn developers and recommended slashing the height of proposed towers that were opposed by NIMBY groups.
Adams, the Brooklyn-born son of a house cleaner and a butcher, and former captain in the NYPD, …
by Riccardo Ravasini 
The next generation of subway cars is poised to hit the rails.
MTA unveiled their long-awaited R211 subway cars. Officials literally pulled a curtain to reveal the city’s first look at what could be a 1,600-car fleet crisscrossing subway lines.
Passenger service with the cars likely won’t start until September 2022, said Demetrius Crichlow, executive vice president and COO of New York City Transit. “We start qualifying and testing within the next few weeks, so if you’re lucky you may …
by Riccardo Ravasini 
Bal Harbour investor Joseph Imbesi sold a waterfront property on the site of the former yacht club for $54.9 million. It was listed for $65 million.
The property features a 915-foot seawall, seven boat slips and has already been approved for a helipad. According to the listing, the docks can be demolished to make way for a super yacht.
Josep Imbesi acquired the site as part of a larger $19 million deal in 1999. Imbesi sold part of that property, …
by Riccardo Ravasini
The Manhattan real estate market is experiencing a period of significant recovery. Although the inventory is still substantial, sales activity has exploded and the “covid discount” effect is already disappearing. It should be remembered that these data are somehow still influenced by the pandemic as they reflect the difference between this quarter and the same period last year.
Talking by Numbers. Let’s try to put things in perspective:
There were 3,417 closed sales, up +151.8% from the year-ago quarter. …
by Riccardo Ravasini 
The New York Post reported that the Vessel will welcome visitors back several months after a 21-year-old man leapt to his death from the structure in January. New measures will be in place: Related is tripling security staff and will add signage that includes messaging from the National Suicide Prevention Lifeline. And visitors will no longer be allowed to come alone.
The once-free attraction will now have a $10 visitors’ fee that Related told the Post will go toward covering the …
by Riccardo Ravasini 
Terra, GFO Investments and New Valley plan to break ground this month on Five Park, a 48-story, roughly 280-unit tower at 500 Alton Road that will become the tallest building in Miami Beach at 519 feet upon completion in 2023.
Five Park will feature two-, three- and four-bedroom and penthouse condominium and multifamily units. “Building amenities,” the press release said, “will include an amenity deck with tw2o swimming pools, a restaurant, sunset viewing lounge areas, a resort-style spa, and a …
by Riccardo Ravasini