In a joint statement, the Vessel’s designer Thomas Heatherwick and Hudson Yards developer, Related Companies, announced that the 150-foot-tall copper-clad staircase will be dismantled for safety reasons.
Instead, a digital rendering of the structure will be sold as a non-fungible token (NFT) in an auction next month. Earnings from the sale will be used to cover the costs of disassembling the structure.
(source: hyperallergic.com)
by Riccardo Ravasini 
Manhattan retailers are still waiting for the return of tourists to 5th Avenue and employees to Midtown offices, but some retail corridors outside of the central business district have seen metrics return almost to where they were before the pandemic.
Vacancies and rents in the Bronx’s main retail area, Fordham Road, are near normal, the New York Times reported. The vacancy rate is 3 percent, according to the Fordham Road Business Improvement District.
Meanwhile, in Brooklyn, new residential development has …
by Riccardo Ravasini
Let’s take a look at closed sales in the first quarter of 2021.
Manhattan has finally joined the real estate party that the wider tri-state region, and also most markets in the USA, have been experiencing since the summer.
Manhattan lost more residents than the other boroughs during the pandemic due to its greater wealth and mobility. But the borough has come back, with demand fueled by record-low mortgage rates, greater affordability, pent-up demand, and an improved sense of …
by Riccardo Ravasini 
Miami-Dade commissioners voted to accept funding from the cities of Miami and Miami Beach to pay for engineering studies needed for the Beach Corridor rapid transit project.
The two cities will contribute $417,000 towards the cost of the study.
The Beach Corridor includes a few separate projects. Completion of the Monorail is expected in 2026.
(source: thenextmiami.com)
by Riccardo Ravasini 
It’s getting difficult to get a reservation at certain restaurants in Miami as new residents continue to flood into the area.
Restaurants from New York and all over the country are lining up to open in Miami, as they try to capitalize on the great migration here that has been accelerated by the pandemic, both outlets reported.
One restaurant broker said that he has been contacted by 150 different groups in the past 60 days alone looking for space in …
by Riccardo Ravasini 
Occupancy for the month of January was 54.5%, with an average daily room rate of $195.08. Both were the highest of any major market in the U.S. for the month.
In February, Miami continued to post the best number in the U.S.Occupancy was up to 75.8% in the third week of the month.
According to Travel Weekly, oceanfront hotels are doing particularly well, with most beach resorts reporting 80% to 90% on weekends. The numbers are particularly encouraging since Miami …
by Riccardo Ravasini