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Developers filed plans for 62 projects with 1,089 units worth a total of about $1.18 billion during the first quarter of this year, according to a data analysis by The Real Deal. This combined sellout value was the highest since the second quarter of 2007, when developers filed plans for 95 projects with 1,274 units worth a total of about $1.22 billion.
It was also the fifth highest combined sellout for the Brooklyn condo market dating back to 2000, the …

Good news for Manhattan’s Hotel industry: revenue per available room — known in industry lingo as RevPAR — rose in 2017’s fourth quarter for the first time in more than two years, according to a report from Pwc.
Citywide, the trend stuck into January and February, the most recent months on record, with RevPAR increasing 4.8 and 3.6 percent, respectively.
The majority of the growth did not come from a jump in pricing. Instead, it came from higher occupancy levels.

With waterfront properties running out in Miami, real estate developers are increasingly buying out the owners of existing and older waterfront condos at premium prices. After purchasing an entire building, developers are demolishing the old building to make space for a new luxury tower.
This is a process called condo termination — and while it’s complex, when it works, it can leave the owners of aging condos with an unexpected windfall and lead to a new property development.

The Sherry Frontenac, a post-war modern hotel in Miami Beach at 6565 Collins Avenue, is getting a facelift. In March, the Miami Beach Historic Preservation Board approved a request allowing the hotel owner to build a new deck with a concrete canopy, underground parking and a rooftop dining area for the property. This means that S.F. Land LLC can build a new pool deck and cabana area as well as bring new elevators into the lobby.
Originally designed by …

In Q4 2017, average residential prices in the Bronx reached close to its pre-recession peak for the first time, hitting a record of $515,000, according to the Real Estate Board of New York (REBNY). The previous peak was $507,000 in 2006. The report also reveals that the Bronx saw the largest increase in residential sales volume among the five boroughs, climbing 17 percent to $455 million year-over-year. In comparison, Manhattan saw sales volume drop 12 percent; Brooklyn saw a 4 …

Rental concessions aren’t preventing prices from slipping. According to Douglas Elliman’s report, the median monthly rental price for apartments in Manhattan dropped 1.5 percent year-over-year in February to $3,330. The vacancy rate, however did drop a bit, from 2.44 percent in February 2017 to 2.29 percent in February 2018. Meanwhile, the percentage of new rental deals involving concessions remains high at 47.6 percent — up from February 2017, when the percentage was 26.4.
The only uptick was in the …