Rava Realty - Market News

Cuomo announces plan to get workers back to offices

Gov. Andrew Cuomo is pushing a plan to get employees back in office buildings — and office landlords are on board.

In the second installment of his 2021 “State of the State” address, Cuomo announced that rapid testing would be used in state-designated orange zones to open office buildings, along with restaurants and theaters.

Cuomo said he will work with the real estate community to open hundreds of new “pop-up” rapid testing sites, where people can be tested before ...

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28
JAN
2021

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2019, buildings, coronavirus, covid, Cuomo, governor, new york, new york city, NYC, office

Miami-Dade’s SMART Rapid Transit Plan is on its way

Posted by: Riccardo Ravasini

Miami-Dade County’s plan to build six new transit corridors advanced in 2020, and five of the six corridors now have a mode of transportation selected.

The mass transit expansion is known as the SMART Plan.

Here’s a look at what commissioners chose to build for each of the corridors:

Beach Corridor – A monorail will run 3.45 miles, from downtown Miami’s Omni station to 5th Street in South Beach.
Northeast Corridor – Commuter rail has been selected, ...

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26
JAN
2021

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beach, bus, corridor, east, kendall, line, Miami, news, north, northeast, plan, SMART, south, south florida, subway, system, train, transit, update, west

Another phase of the High Line is coming

Posted by: Riccardo Ravasini

The elevated park, which runs along Manhattan’s Far West Side and through the Hudson Yards megaproject, will be expanded to connect the newly opened Moynihan Train Hall, the New York Times reported.

The new 1,200-foot pathway will link the final section of the High Line at West 30th Street and 10th Avenue to a pedestrian walkway at the Manhattan West megaproject, developed by Brookfield Properties, which abuts the new train hall.

Gov. Andrew Cuomo told the ...

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22
JAN
2021

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chelsea, condo, high line, luxury, Moynihan, new phase, new york, new york city, NYC, park, pathway, penn station, price, rise

Manhattan Real Estate Sales Market Update | 4th Quarter 2020

Posted by: Riccardo Ravasini

In Manhattan there are signs of improvement for the sellers, as the sales volume, listing inventory, months of supply and other indicators got better from the prior quarter, although remaining lower compared to a year ago.

The market share of cash buyers fell to a new record low (40.4%) given the current low interest rates.

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21
JAN
2021

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2020, 4Q20, fourth, manhattan, market, market update, new york, new york city, NYC, quarter, real estate, report, sales, update

Buyers who bet on NYC’s comeback can score a discount. But for how long?

Posted by: Riccardo Ravasini

Since the reopening of the marke last June, 70% of the contracts signed came from a listing with a price cut. (source: ubrandigs)

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28
DEC
2020

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buy, buyer, buyers, contract, contracts, coronavirus, covid, cut, discount, house, invest, investor, investors, manhattan, market, new york, new york city, NYC, pirce cut, price, real estate

US home prices jump at record rate

Posted by: Riccardo Ravasini

Home prices are on the up, but that may lead to trouble in the future.

The median cost of a single-family home jumped 12 percent in the third quarter to $313,500, marking the biggest year-over-year increase since 2013, according to data from the National Association of Realtors that was first reported by Bloomberg.

“Favorable mortgage rates will continue to bring fresh buyers to the market,” said Lawrence Yun, NAR’s chief economist. “However, the affordability situation will not improve even ...

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27
NOV
2020

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coronavirus, covid, home, market, mortgages, prices, real estate, sigle family, us, USA