North Beach is experiencing a significant development boom, with a surge of luxury projects set to transform the northern end of Miami Beach. After years of minimal activity, at least nine private development projects are either underway or in the planning stages today.
Among them, 72 Park, a 22-story luxury tower at 580 72nd Street, opened this April—the first new condo in North Beach in five years. Developer Lefferts is also planning three more projects nearby: Palma Miami Beach Residences, 72 Carlyle, and a mixed-use building at 880 71st Street.
by Riccardo Ravasini 
Broward County is stepping out of Miami’s shadow with a surge of new luxury developments and growing buyer interest. More than 3,900 condo units are in the pipeline, reshaping the skyline across over two dozen projects.
The county offers a quieter, relatively more affordable alternative to Miami, drawing buyers from the Northeast, Midwest, California, and Canada. Fort Lauderdale, in particular, is gaining momentum in the luxury market, with record-breaking sales and global hotel brands setting up shop. This boom attracts high-profile residents, such as supermodel Gisele Bündchen, who …
by Riccardo Ravasini 
New York City is once again the world’s wealthiest city, with 384,500 millionaires, 818 centi-millionaires, and 66 billionaires, according to Henley & Partners.
The report ranks the top 50 cities by number of high-net-worth individuals and highlights trends in wealth, real estate, and investment migration.
These are the U.S. cities that made the top 10: New York City (1st), Bay Area (2nd), Los Angeles (5th), and Chicago (10th).
Here you can find the complete report.
(source: Patch, Henley & Partners, picture: G6M)
by Riccardo Ravasini 
Contract activity, or the number of signed contracts, is up 10.8% from last year and down 3.6% from the monthly historical average. The median sales price for a Manhattan apartment is $1.19 million, reflecting a 13.4% increase compared to the same time last year. The supply, or the number of units available on the market, is essentially the same as last year, having decreased by just 0.3% annually. Meanwhile, the number of pending sales in Manhattan has risen 28.4% year-over-year. The Market Pulse, which represents the pending-to-active ratio, stands at 0.46, indicating a neutral market.
by Riccardo Ravasini 
Residents of Manhattan are increasingly relying on their parents to purchase or transfer properties to them.
According to new data from Attom, 28% of Manhattan home sales in 2023 involved trusts, a sharp increase from 17% just three years prior. While not all trust transactions include parents and children, they have become a go-to tool for wealth transfers, offering benefits such as reduced estate taxes, limited gift tax exposure, and increased privacy.
The surge reflects a broader shift in real estate financing, driven by a combination of rising home …
by Riccardo Ravasini