new york city Archives - Rava Realty

Miami leads in returning to the office

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Miami leads in returning to the office

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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The Tax Break New York Relied on to Build Housing Is Gone. What’s Next?

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The Tax Break New York Relied on to Build Housing Is Gone. What’s Next?

The New York City’s divisive “421a” program has expired in 2022. Introduced 50 years ago, 421a provided developers with tax breaks to incentivize housing construction. Under 421a, developers were required to allocate a portion of units as “affordable,” plus 421a gave tax relief to the final users for 10 to 15 years.

Yet, the program faced criticism, particularly from left-leaning lawmakers who deemed it a developer giveaway.

Despite this, Mayor Eric Adams and housing experts argue for the necessity of tax incentives to combat the city’s housing shortage, ...

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NYC’s Culinary Crown Grows: 12 New Michelin Star-Winning Restaurants for 2023

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NYC’s Culinary Crown Grows: 12 New Michelin Star-Winning Restaurants for 2023

Among the twelve 2023 star-winners are two Japanese establishments that ascended from one star to two stars: Odo in Flatiron and Sushi Noz on the Upper East Side.

The list of new One Star recipients includes a diverse range of cuisines and neighborhoods:

  • bōm: A contemporary Korean eatery in Flatiron.
  • Essential by Christophe: A French contemporary restaurant on the Upper West Side.
  • Jōji: A Japanese and sushi spot in Midtown.
  • Meju: A Korean restaurant in Long Island City.
  • Restaurant Yuu: A French contemporary and Japanese establishment ...
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The Big Apple’s Nest: 80% of NYC Gen Z Adults Still Living at Home

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The Big Apple’s Nest: 80% of NYC Gen Z Adults Still Living at Home

A recent study unveils a surprising trend in the city that never sleeps—nearly 80% of Gen Z adults in New York City still reside with their families. Millennials aren’t far behind, with 28% choosing to remain in multigenerational households. By sheer numbers, New York City has the highest number of Millennials and Gen Z-ers still living at home, with 1.2 million and 2.2 million.

Interestingly, the study notes a decline in the number of millennials and Gen Z-ers living at home in ...

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“City of Yes”: Mayor Adams’ Plan to Transform NYC Housing

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“City of Yes”: Mayor Adams’ Plan to Transform NYC Housing

Mayor Eric Adams has proposed an ambitious housing agenda named the “City of Yes,” aiming to address New York City’s housing crisis and alleviate high rents. Unveiled at the end of September, this proposal aligns with the “Yes in My Backyard” (YIMBY) movement, with a goal to construct 100,000 new homes over 15 years by easing zoning restrictions.

Key measures include the elimination of mandates for parking in new developments, the legalization of dorm-style shared housing, and the approval of accessory dwelling units, which include unregulated basement apartments susceptible to ...

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Tourists are back in New York City

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Tourists are back in New York City

New York City is experiencing a tourist resurgence, highlighted by record-breaking attendance at the U.S. Open and a nearly 10% increase in jobs within the hotel and restaurant sectors.

Nevertheless, Chinese travelers remain notably absent due to travel restrictions and long visa wait times; NYC remains on track to welcome an estimated 63.3 million visitors this year, representing a 12% increase from the previous year. Times Square, in particular, has witnessed a vibrant revival, with pedestrian traffic exceeding pre-pandemic levels and spending rebounding to 92% of ...

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