The average sales price for a Manhattan apartment jumped by a 30.9 percent year over year, according to a quarterly report compiled by appraisal firm Miller Samuel. The average price per square foot increased by 23.6 percent year over year, to $1,363 in the first quarter of the year.
Rising prices can be attributed to the ongoing Manhattan inventory crisis, which has seen fewer than 5,000 apartments on the market at any given time over five consecutive quarters. Also contributing …
by Riccardo Ravasini Developers are planning to build what could be Miami Beach’s tallest building on the city’s front doorstep — beside the Alton Road flyover at the end of the MacArthur Causeway.
Designed by international architecture firm Perkins + Will, the residential tower would rise 50 stories at the foot of the flyover. A six-story waterfall and three-acre public park would take the place of a dilapidated hospital and parking garage that now greet the millions of visitors streaming into South Beach …
by Riccardo Ravasini The Real Deal Reports that the state is moving forward with plans to sell the Bayview Correctional Facility in Chelsea to developers. State officials expressed hopes to find a project that will stimulate job growth in the community, despite interest from developers who want to turn the 108,000 square feet of space into luxury condominiums, and Community Board 4’s hopes to convert the former medium-security prison into affordable housing units. The facility, which is next door to a Jean Nouvel–designed …
by Riccardo Ravasini 
At a new condo at 515 East 72nd Street, apartments sold briskly. There were more than 70 closings between summer 2012 and summer 2013 — about half the building’s 142 one-bedrooms.
One of the reasons, aside from a positive market trend, seemed to be major milestones in the construction of the Second Avenue Subway, a little more than two blocks away. The milestones included some of the last subterranean blasts for the first phase of the project, from 63rd to …
by Riccardo Ravasini 
While Brooklyn has rapidly gentrified in the last decade and become the trendiest of the outer boroughs; it looks like Queens has been growing in popularity as well.
With the recent opening in Astoria of Kaufman Studio’s outdoor film set, the ever-popular MoMA outpost PS1, the extension of the 7 line, buzzed-about restaurants and new residential towers springing up, Queens is certainly having a moment. Plus, there’s the Museum of the Moving Image, the Paper Factory, which is a brand …
by Riccardo Ravasini Over the recent years, Harlem has quietly become one of Manhattan’s hottest neighborhoods.
Rent prices for Harlem apartments have gone up over the last year as home hunters found an abundance of inventory going for relatively reasonable rates, especially during the economic crisis when good values were hard to come by.
A report by the real estate group MNS found that average rent prices in Harlem went up 9.4 percent from $2,191 last year to $2,397 in January, the biggest …
by Riccardo Ravasini