The conversion of One Wall Street, a building designed by prolific Art Deco architect Ralph Walker, has been underway for several years.
Developer Harry Macklowe purchased the building, which had previously served as the headquarters for the Irving Trust Company and the Bank of New York, in 2014, with the goal of turning it into apartments. Since then, the firm has been working on getting the necessary approvals, and gutting the entire thing to prep for its condo-filled future.
A …
by Riccardo Ravasini 
Central Park Tower, at 217 West 57th Street, has now reached the 92nd floor, construction has officially surpassed the 1,396-foot-tall rooftop parapet of 432 Park Avenue, making this building the tallest residential structure in New York and the Western Hemisphere. The 1,550-foot tower is being designed by Adrian Smith + Gordon Gill, while Extell is the developer.
Once work reaches the rooftop, the height difference with 432 Park Avenue will become more apparent. Meanwhile, SHoP Architect’s slender 111 West 57th …
by Riccardo Ravasini 
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