With construction underway citywide, and particularly in neighborhoods like Downtown and the 57th Street corridor, 2015 is poised to see double the amount of new development launches, compared with 2014.
There are 6,287 condos set to launch in 2015, compared with 3,112 in 2014, according to data obtained from Corcoran Sunshine.
The average sale price in Manhattan for all kinds of residential properties jumped 18 percent from last year during the third quarter, to $1.68 million. During the third quarter, …
by Riccardo Ravasini The southernmost leg of Sixth Avenue has been more of a place to pass through than to visit since the 1920s, when the city blasted subway lines through parts of MacDougal and Sullivan streets, then covered the tracks with a new roadway.
And developers may have been dissuaded from doing anything about that. The massive infrastructure project left the road, formally known as the Avenue of the Americas, lined with castaway lots whose odd shapes discouraged construction.
But as Soho’s …
by Riccardo Ravasini 
Lower Manhattan’s Fulton Center, where nine subway lines converge, reopened last month, more than a decade after the Sept. 11, 2001, terrorist attacks destroyed parts of it. As many as 300,000 passengers a day are expected to pass through the station, the New York Times reported. The center features more than 60,000 square feet of commercial space, two-thirds of which is reserved for retail. The Fulton Street hub was originally supposed to be completed in 2007, and cost $750 million; …
by Riccardo Ravasini For decades, Bal Harbour was the only shopping destination in the Miami area for customers seeking a wide assortment of luxury goods. But times are a changing and with that, Miami Design District – once a sleepy swath of furniture stores – is fast becoming a new destination of luxury shops.
Louis Vuitton’s flagship store is one of about 20 top-drawer brands set to open in the district this month. Nearby will be Valentino, Van Cleef & Arpels, Bulgari and …
by Riccardo Ravasini 
Miami’s version of Art Basel has helped reposition the city as a global destination for influencers, billionaires, and partygoers. And this year’s Art Basel – which wrapped up earlier this month – was no exception, with over 70,000 attendees at the main fair generating more than $20 million in revenue. This establishment of a global art scene has not only spotlighted Miami as an international city but also boosted its luxury real estate market. While real estate prices haven’t quite …
by Riccardo Ravasini A new batch of efficiency units can be found in luxury buildings, as developers seek ways to add value for high-end buyers while keeping a lid on their owns costs.
Unlike the sprawling trophy apartments that have hit the market in the past few years, tighter-cut units at buildings like 15 Leonard Street, the Charles at 1355 First Avenue, the Rudin family’s Greenwich Lane and others offer more value per square foot for buyers, brokers said.
At 15 Leonard Street, …
by Riccardo Ravasini