This first quarter of 2019 was a quarter of contrasts: in January the closing of a massive apartment at 220 Central Park South set a new record for the pricest residential sale in the US…this $238 milion gigantic sale skewed the numbers for the average sales price and average price per square foot..so let’s focus instead on the median sales value which is more representative of the market.
In the first quarter of 2019 the median sale price of …
by Riccardo Ravasini 
A waterfront mansion on the exclusive Indian Creek Island sold for $49.9 million, setting a new record for single-family home sales in Miami.
Property records show AVK Land Holding LLC, managed by Russian attorney Andrey M. Kaydin, sold the 10-bedroom, 14-bathroom home at 3 Indian Creek Island Road to Angouleme Holdings II Limited Land Trust, which could be the same trust as one managed by Qatari businessman Abdulhadi Mana Al-Hajri, The Real Deal reports.
The nearly $50 million deal shatters …
by Riccardo Ravasini 
Host Hotels paid $610 million for 1 Hotel South Beach, marking a new per-room record for Miami-Dade hotel sales at $1.42 million a key. Barry Sternlicht’s Starwood Capital Group and LeFrak sold the luxury beachfront hotel at 2341 Collins Avenue, according to a press release. Starwood affiliate SH Hotels & Resorts will continue to operate and manage the 429-room hotel.
by Riccardo Ravasini 
South Florida construction starts in January plummeted year-over-year, with steep declines in both residential and commercial sectors, a recently released report shows.
Total construction starts fell 45 percent to $640.8 million in January. Residential construction dropped by 55 percent to $333.2 million, while non-residential construction dipped by 28 percent to $307.6 million, according to Dodge Data & Analytics.
The difficult start of the year is a continuation of the decline in residential construction in December, reflecting a slowdown in new …
by Riccardo Ravasini 
After a prolonged period of declines, the Manhattan rental market finally started to pick up in January with the median rent price that increased 5.7% to $3,320 year over year (YoY), even though the volume of new leases fell by 4.9% YoY. This normally means that more renewals of existing leases are happening. The vacancy rate also went down to 1.65% from 1.98% a year ago, another good sign for landlords. And the share of apartments offered with landlord concessions …
by Riccardo Ravasini 
Recent data regarding the luxury segment which includes NYC properties priced $4 million and above show that February was a dynamic month: there were 92 contracts signed in this market segment from February 4th to March 3rd. And it was the first time in four months that the market registered 3 straight weeks with 20+ sales, which is a sign of recovery.
by Riccardo Ravasini