real estate Archives - Page 2 of 15 - Rava Realty

Manhattan Market Pulse – March 2023

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March was a hot month across the city
The monthly contract activity stood at 1,164 in March, down 22% compared to last year, up 2.2% from the 1138 historical average for the month of March, and 39% more deals closed than in February. Newly built or newly converted apartments across the city saw a 25% increase in deals compared to pre-pandemic averages for the month. The largest contract to close in March was a $66.5 million sale for two penthouse apartments at Naftali Group’s ...

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Manhattan Market Pulse – March 2023

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The monthly contract activity stood at 816 in February, down 31.1% compared to last year and down 13.9% from the 948 historical average for the month of February. The Median Sales Price is $1,075,000, at the moment, down -6.7% from last year. The supply, which is the number of units on the market, stands at 6,429, up 1.7% from a year ago. While the number of pending sales, which is the number of currently in contract units, stands ...

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Rents are still high, for now

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The average asking rent in the Miami metro area was $2,141 in the fourth quarter of 2022, up 13.3% from a year earlier, per economic research firm Moody’s Analytics.

The big picture: Many would-be home buyers chose to rent longer last year, sustaining apartment demand. But folks are hitting their spending limit.

  • For the first time in over two decades, households now have to spend 30% of their income on average rents.

The expected surge in supply could help bring down prices.

  • Yes, but: Most cities will ...

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Half Of Manhattan Workers Are Back In Offices

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Roughly half of Manhattan’s workers were in the office during the average workday as of late January, according to a Partnership for New York City survey.

The pandemic emptied out Manhattan’s office buildings and shifted scores of employees to remote work. But as coronavirus restrictions were lifted, only a relative handful of workers returned to offices.

The survey found only 9 percent of workers are back at the office five days a week, a number that’s unchanged from September. However, the number of fully remote workers did tick down ...

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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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Investment firm bids $102M for 20 acres in Miami’s UES

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B Group Capital Management submitted a $102 million stalking horse bid for nearly 20 acres in Miami’s Upper Eastside and El Portal that are tied to a lawsuit alleging *EB-5 fraud.

The Miami-based real estate investment firm seeks to acquire the former U.S. immigration building site spanning 3.5 acres at 7880 Biscayne Boulevard, and a 15.9-acre former trailer park at 8500 Biscayne Boulevard.

Both properties are now controlled by a court-appointed receiver, following a settlement agreement ...

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