market Archives - Page 2 of 11 - Rava Realty

Manhattan Real Estate Market Pulse: Jan. 23

Posted by:

Residential market

The monthly contract activity stood at 599 in December, down 46.4% compared to last year and down 9.1% from the 788 historical average for the month. The supply, which is the number of units on the market, stands at 5,860, up almost 2% from a year ago. While the number of pending sales, which is the number of units that are currently in contract, stands at 2,282; this value is 41.6% lower than a year ago. The ...

Continue Reading →
0

Sellers of South Florida waterfront land are testing the market

Posted by:

Looking to capitalize on South Florida’s booming waterfront mansion market, sellers of vacant waterfront lots in Miami and Miami Beach are listing their properties for prices that appear to bend reality. 

Sellers have been told that so many wealthy people are moving from California, Chicago and New York, big CEOs looking for properties like the billionaire Ken Griffin, who paid $106.9 million for a 4-acre Coconut Grove waterfront estate this summer.

But thanks to rising construction ...

Continue Reading →
0

Surf Club Four Seasons tops Miami-Dade’s weekly condo sales

Posted by:

Miami-Dade County’s condo sales volume fell last week, while the average sale price rose.

Condo sales totaled $97.7 million, lower than the $119.8 million in sales from the previous week. The average sale price continued to climb, as it has for several weeks, reaching $913,000. That compares with $754,000 the week prior.

Prices for the top 10 sales ranged from $1.5 million to $21 million, compared with $1.8 million to $9.4 million the previous week.

Continue Reading →

0

Manhattan Market Pulse – November 2022

Posted by:

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 ...

Continue Reading →
0

Manhattan office leasing has busiest month of Covid era

Posted by:

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 ...

Continue Reading →
0

Private equity firms are betting big on New York apartments

Posted by:

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 ...

Continue Reading →
0
Page 2 of 11 12345...»