Blog

While investors pulled away from the trouble retail condo sector in 2017, a recent spate of retail condo sales in early 2018 may signal a new optimism. The Real Deal reviewed Real Capital Analytics data and found that investors bought or put into contract a total of $276 million worth of retail condo properties in the first eight weeks of 2018. What’s impressive is that this figure is already more than half of 2017’s total of $523 million.
Some …

The tech giant recently purchased the entire Chelsea Market building for about $2.4 billion in what would be the second priciest deal for a single building in New York City history, according to The Real Deal. With the purchase of the 3.8-acre, full-block office and retail building with a famous food hall that draws approximately 6 million visitors per year, Google is dominating the Chelsea and Meatpacking District from West 15th Street on 8th Avenue to the waterfront pier. With …

http://miamicentral.com/
Florida East Coast Industries just closed on two parcels of public land in downtown Miami, locking in another component to its massive MiamiCentral mixed-use development.
The deal was approved by city commissioners in 2015, but terms were not worked out till now. Once complete, the MiamiCentral will rise on an 11-acre site in downtown Miami that will bring myriad apartments, shops and offices to the city. The station will integrate the Miami-Dade County Metrorail and Metromover systems. FECI is …

http://1000museum.com/
The 62-story tower, rising at 1000 Biscayne Boulevard, features Hadid designed amenity spaces and furnishings. New renderings of the curvy exoskeleton-shaped condo include a look at Hadid’s double-height aquatic center with an indoor pool and a luxury “Lifestyle Center and Spa.” Prices at the 83-unit condominium range from $5.5 million to more than $20 million.

Manhattan’s luxury market recorded 29 contracts at $4 million and above in the third week of February– that was the fourth week in a row contract activity topped 20 deals, The Real Deal reports.
The No. 1 spot went to a 12-room co-op apartment across from the Metropolitan Museum of Art at 993 Fifth Avenue with an asking price of $17 million. That’s a nearly 32 percent reduction off the original ask of $24.9 million when the unit was first …

For all the talk of a Bronx real estate boom in recent years, here’s an interesting fact: home prices still remained below their 2006 peak, until now; the Wall Street Journal reports.
The borough’s average home price rose to $515,000 in the fourth quarter, according to the Real Estate Board of New York, 2 percent above the previous record. In Kingsbridge Heights, prices rose by a staggering 15 percent between the end of 2016 and 2017, to $470,000.
For-sale homes …