North Beach in Miami Beach, the Arts & Entertainment District, Midtown and Coconut Grove are among the areas that have emerged as the hottest real estate submarkets in greater Miami. And these emerging areas are each experiencing a renaissance of activity.
• North Beach is generally a quiet community with single-family homes and low-rise apartment buildings but will soon experience a significant transformation once developer Terra Group breaks ground on its 20-story, 64-unit luxury condominium at 8701 Collins Avenue. That …
by Riccardo Ravasini You might not have known it, but among the high-end retail storefronts and trendy nightclubs and restaurants, there are still some meatpackers left in the Meatpacking District. In fact, the Meatpacking District itself is the last holdout among the many marketplaces that once flourished in Manhattan – with the Fulton Fish Market having decamped to the Bronx in 2005, wholesalers having withered from the Flower District on West 28th Street and the Printing District at Hudson Square all out of …
by Riccardo Ravasini When real estate professionals talk about the boom in shared office space, most think of WeWork. But the $10 billion unicorn is only one of dozens of companies vying for market share in New York City. The Flatiron District alone is home to 26 coworking spaces run by 20 different companies, according to a new report by the Flatiron 23rd Street Partnership, a local business improvement district. Some, like WeWork’s 108,000-square-foot space at 79 Madison Avenue, take up multiple floors. …
by Riccardo Ravasini The Bronx, which has long fought its image of a borough besotted by arson, poverty and urban decay, is now a hot commodity among the same investors and developers who overlooked it for years. In 2014, it saw an influx of $1.2 billion worth of real estate investment, a 26 percent jump from the prior year, according to data from Bronx Borough President Ruben Diaz Jr.’s office.
Some of the key commercial and retail projects reshaping the Bronx include: the …
by Riccardo Ravasini Miami is one of the world’s Top 10 destinations for real estate investment capital (data CBRE).
The Miami metro area ranked 7th globally with $7.7 billion in foreign and domestic real estate capital investment in the first half of 2015, according to the real estate brokerage and advisory firm. That is up from a 12th-place ranking for all of 2014.
Given that 15 of the Top 20 were cities in the United States, it appears that real estate investors are …
by Riccardo Ravasini After a 17-month contract period, the most expensive home ever sold in Miami has finally closed — for a whopping $60 million. That’s $10 million over the asking price.
The 12,516-square-foot penthouse in the 18-story Faena House condominium tower sits on Miami Beach’s widest stretch of white sand.
It was developed and built by Argentina’s Faena Group and contains 47 residences, but the penthouse is by far the most luxurious.
The glass-walled apartment has five bedrooms, two custom kitchens, and …
by Riccardo Ravasini