Is this a fake recovery or a real one? That’s the question.
The second quarter of 2019 was probably an odd one because the new transfer and mansion tax rates kicked in starting July 1st, which means there are now higher closing costs for buyers of luxury properties. It follows that there was a rush to buy this kind of properties before the July 1st deadline.
This specific incentive is now over, so let’s see what happens. For …
by Riccardo Ravasini 
Miami-Dade
After a rough first quarter, residential sales in Miami-Dade increased slightly in April, up 1.1 percent year-over-year to 2,629 closings. The total sales volume in April was $1.23 billion, compared to $1.19 billion a year earlier.
Single-family home sales rose nearly 4 percent to 1,265, while condo sales decreased by 1.4 percent to 1,364, according to the Miami Association of Realtors.
In March, condo sales rose sharply, up 18 percent year-over-year. Prices increased as well, up 3.2 …
by Riccardo Ravasini 
As housing demand has risen along the Bronx’s Grand Concourse, so have prices, The Real Deal reports. A recent analysis by real estate database PropertyShark found that the median home sales price along the boulevard surged 68 percent between 2014 and 2018. In addition to being a gateway to the Bronx from Manhattan, the area has its own cultural scene and history (it’s home to Yankee Stadium).
Investment activity picked up after 2015, with more than 700 affordable and …
by Riccardo Ravasini One Hundred-Twenty one contracts were signed at $4 million and above, 33 more than the last month, a solid performance in the Manhattan luxury real estate market despite the general market trend, growing compared to four weeks ago.
Total Monthly Asking Price Sales Volume goes to $1,097,762,000 bringing the Average Sales Price to $9,072,413 gaining almost 20% on last month meanwhile the Average Days On Market are 4 more than in April at 440.
by Riccardo Ravasini 
Spectacular views that only crime could pay for. For 43 years, inmates inside the caged rooftop recreation yard of Harlem’s Lincoln Correctional Facility could stretch their legs while luxuriating in the unobstructed sights of Central Park and the city’s sprawling skyline to the south. Now the facility is poised to close — and the jailhouse is suddenly Manhattan’s hottest piece of high-priced real estate.
The W. 110th St. (aka: Central Park North) property, opened as a prison in 1976, will …
by Riccardo Ravasini 
According to the 2018 ISG World Miami Report, close to 900 people move to Florida each day, with 45 percent of them moving to Miami-Dade, Broward and Palm Beach counties.
In Miami, the Brickell neighborhood has accounted for the biggest increase in population growth. In 2018, the Miami Downtown Development Authority reported that the number of residents living between Brickell and Edgewater has soared nearly 40 percent over the past eight years.
Something to note is that the South Florida …
by Riccardo Ravasini