According to a new report from Miller Samuel, the average sale price for luxury condos in Miami and Miami Beach plunged 30% year over year in the third quarter, to $948,700 and $2.6 million respectively. The number of luxury condo sales also dropped by 25% in MIami and 17% in Miami Beach — amidst a glut of high-priced homes and condos. Inventory of luxury condos in Miami Beach jumped 30% in the quarter compared with a year ago while in …
by Riccardo Ravasini As reported by the Miami Herald, the commercial real estate market outlook looks strong as we head into 2017. The only caveat is: as long as more mass transit is on the horizon.
In the office market, rents are at an all-time high in certain markets, according to Cushman & Wakefield which represents nearly 5 million square feet of office space in South Florida. For instance: Office space in Brickell is hitting around $60 a square foot for Class A …
by Riccardo Ravasini Brazilian investors, seeking an alternative to their country’s risky real estate market, are returning to Florida to invest in property and establish an income source in dollars. Back in Brazil, the economic crisis and rising unemployment have sent rents down 5.2 percent in the past year while rents in Miami were stable in the first half of the year.
Brazilians were third among foreigners searching for South Florida real estate in June, according to the Miami Association of Realtors, after …
by Riccardo Ravasini 
Near the Williamsburg Bridge and next to the Essex Street subway on Delancey Street is an underground one-acre expanse. That very land, dormant for the past 60 years, has long been conceived by Dan Barasch, a strategist previously with Google and the City of New York, and architect James Ramsey as a park — called the Lowline (inspired by the Highline). The duo finally received a nod of approval from the city which had issued an RFP earlier this year …
by Riccardo Ravasini 
Meatpacking District, now a retail and tourist destination cemented by last year’s relocation of the Whitney Museum, continues to be reshaped due to rising commercial rents and consequently, rising retail availability rate. Cushman & Wakefield reported the neighborhood’s availability rate at 22.2 percent during the second quarter of 2016 — a 3.9 percentage point increase from the same time last year and a 5.2 percentage point increase from 2013.
Citing climbing costs, Hogs and Heifers, an iconic biker bar on …
by Riccardo Ravasini The company of Douglas Durst — the younger brother of infamous Robert Durst — is in talks to buy a large development site at 1800 Park Ave. at 125th Street from Bruce Eichner, who dug a foundation but wasn’t able to put up a planned apartment project. The corner is across the street from the Harlem Metro North station. A Durst purchase would be a game-changer for East Harlem.
by Riccardo Ravasini