february Archives - Rava Realty

Miami leads in returning to the office

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Miami is emerging as a frontrunner among major cities in the process of returning to in-person office work, as indicated by a recent report from Placer.ai.

In February, Miami and New York City demonstrated notable trends in the post-COVID return-to-office landscape. In Miami, in-person office visits were down by 9.4% compared to February 2020, while New York City experienced a slightly larger decline of 14.5%.

In New York and Miami, offices drew just 22.5% and 21.9% fewer visits, respectively, in ...

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Manhattan Market Pulse: Feb. 23

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The monthly contract activity stood at 592 in January, down 37.8% compared to last year and down 23.7% from the 776 historical average for the month of January. The Median Sales Price is $1,075,000, at the moment, down -14% from last year.

The supply, which is the number of units on the market, stands at 6,078, up 2.7% from a year ago. While the number of pending sales, which is the number of currently in contract units, ...

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Manhattan Rental Market Report

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There were 3,159 New Lease Signings in Manhattan in the month of January -49.5% from the same period last year, dipping below the decade average as listing inventory continued to collapse as prices reached record levels.

The Median Rental Price was $3,550, up +18.3% from the previous year, while the Net Effective Median Rent, the face rent, surged year over year by a record +23.3% to $3,467, the second-highest level reached in a January. This price trend indicator continued ...

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New leases for Manhattan apartments more than doubled in February

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The renters are coming back to New York City in a big way, thanks to near record low concessions, falling rents, and lots of vacant apartments. Last month, new lease signings in Manhattan surged to their highest total for a February since the Financial Crisis in 2008.

(source: birckundergorund.com)

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