manhattan Archives - Page 5 of 17 - Rava Realty

How Much Will Cleaning Up NYC Cost?

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A $14.5 million makeover will clean up New York City’s trashy side, Mayor Eric Adams said.

Adams unveiled “Get Stuff Clean”, a (literal) sweeping effort to clean more than 1,000 neglected areas across the city.

“America’s biggest city is going to be America’s cleanest city,” he said. “We’re investing more than $14 million this fiscal year alone to participate in the largest cleanup effort in decades.”

More than 200 new sanitation workers will be added to cleaning efforts across the city, the ...

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The Museum of Broadway

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The brand new Museum of Broadway opened on Nov. 15th at 145 West 45th Street. Visitors will now be able to journey through the memories of the city’s legendary theater district — from its inception to present day.

Museum-goers will be able to marvel at props and costumes from various shows over the years, from the simple red dress worn by the title character in “Annie” to more elaborate garb used in “The Phantom of the Opera.”

The space ...

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Manhattan Market Pulse – November 2022

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The residential sales market is stabilizing in buyer’s market territory

The monthly activity stood at 727 signed contracts in October which is down compared to the 10-year historical average of 911 signed contracts for that month.

The supply, which is the number of units available on the market, stands at 7,450, up just 1% from a year ago. So the supply trend is normal. While the number of pending sales, which is the number of units that are currently in contract, stands ...

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Manhattan office leasing has busiest month of Covid era

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Companies still want a piece of Manhattan. Some 3.4 million square feet of office space was leased in August, the most since January 2020, when the first Covid cases began to pop up in New York City.

Notably, space in Midtown is steadily getting harder to findMore space was newly leased than became available in Manhattan’s central business district decreased for the sixth straight month, as was the case for Manhattan as a whole.

However, Midtown’s available office space has increased by 36 percent since March 2020. Modest compared to Midtown South (where it has more than doubled), Downtown (up ...

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Private equity firms are betting big on New York apartments

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Just before Manhattan rents started soaring at the start of the year, Blackstone Group agreed to buy a Frank Gehry-designed apartment tower in the Financial District for $930 million.

Today’s big multifamily buys, however, look different from the high-juice deals of yesterday. Instead of buying older properties with heavy rent-stabilized components and banking on the fix-and-flip model, private equity appears focused on free-market buildings with cash flow.

Blackstone’s purchase of the roughly 900-unit Gehry tower at 8 Spruce Street is the city’s biggest multifamily deal so far this year, and it helped push the market close to a record high.

Manhattan multifamily ...

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Manhattan Luxury Market Reality Check

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With this report, we are going to tell you at what prices luxury properties are actually closing and what was their actual negotiability factor, anybody interested in getting a discount?

There were 83 closings at $4 million and above in July 2022, 57 less than June. The Average Closing Price was $8,478,817 up +15%, meanwhile, the Median Closing Price was  $5,867,000 down -3.8%. The Negotiability Factor, that is the average discount from the last asking price, was 3.16% practically unchanged from the 3.19% registered during the ...

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