Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 week ago

Cash Home Purchases Drop To Lowest Level Since Beginning of Pandemic This comes as interest rates become more favorable to buyers.

Cash purchases, the favored method of home buying for the wealthy, just dropped to the lowest level in 5 years. This is bad news for the multifamily sector, whose only bright spot has been luxury sales.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #HappyMonYAY #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 week ago

Apartment Concessions Now at Highest Level in 12 Years Class C units accounted for the highest share of concessions offered.

The struggling rental market has led to consumers getting concessions, like free rent and or services, to get deals done.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #HappyMonYAY #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 week ago

Rent Affordability Improves To Best Level Since 2021 Median asking rent increased 2% year-over-year to $1,895 — the slowest growth since 2020.

The majority of people in the U.S. are renters, so these reduced rents should really help pump more money into the economy.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #HappyMonYAY #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 week ago

Only Six Apartment Metros Still Favor Landlords With 44 of the 50 largest metros now renter-friendly or balanced, investors face a reshaped landscape.

Happy MonYAY!! Today is multifamily!! The rental market has really shifted in favor of tenants. In the entire U.S., only 6 of the top 50 markets still favor landlords.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #HappyMonYAY #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

2 weeks ago

Mortgage Delinquencies Rise, FHA Loans Hit Multi-Year High Seasonally adjusted FHA delinquencies surge 74 basis points in Q4 while serious delinquencies remain elevated across loan types.

At the same time mortgage delinquencies are rising, which will lead to even more homes coming to the market for sale.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

2 weeks ago

Existing-Home Sales Hit Two-Year Low, Prices Still Edge Higher January volumes sank across all regions, but limited supply pushed the median price to a record high.

Meanwhile it is hard for regular people to afford to buy a home, and existing home sales just hit a 2 year low. And home prices are rising.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

2 weeks ago

Mark Zuckerberg Buys $170M Miami Mansion (Forreal This Time) Rumors of Zuckerberg's South Florida house hunting have swirled for weeks after Wall Street Journal reports surfaced.

The latest tech mogul to by a mega mansion in Miami? Meta/Instagram’s Mark Zuckerberg, who sets a Dade county price record at $170 million dollars.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

2 weeks ago

Mr. C Residences Boca Raton: New luxury tower brings hotel-like living A new 12-story luxury tower is coming to Boca Raton, bringing 133 residences and Cipriani-inspired service starting at $1.7 million.

Who is down for some multifamily?? One day I would like to live in a place like they just built in Boca Raton. Terrible name though, Mr. C’s Residences! They are also building one in West Palm Beach.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

9 months ago

Andare Residences by Pininfarina Breaking Ground on Las Olas - S. Florida Business & Wealth Delivery of completed units is expected to take 24 to 28 months after construction begins.

I am feeling multifamily today!! A luxury residential condo building is going to be built on Las Olas Blvd. in Ft. Lauderdale for the first time in 20 years. It will be the tallest building in Broward County at 46 stories.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

11 months ago

Bill to expand Live Local Act, increase affordable housing access teed up for Senate floor Reduced parking requirements and limits on attorneys fees could still be cause for debate.

The Live Local Act is getting tweaked yet again. Will it finally result in more affordable housing like it was supposed to? I'm out of town tomorrow so have a great weekend & we will post again nt Tues!
#RosenfeldRealtyAdvisors #CommercialRE #FL #MultifamilyToday #TomorrowIsFriYAY #HaveAGreatWeekend

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

11 months ago

Plans Submitted to Develop Housing at Palmetto Park Square A proposed development project in Boca Raton supports the idea that when retail goes, housing...

Here is a good update on the plans to convert the last Kmart in Boca Raton into housing.

#RosenfeldRealtyAdvisors #CommercialRE #FL #MultifamilyToday #TomorrowIsFriYAY

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

11 months ago

Global wealth ranking puts West Palm, Palm Beach near top of the list for growing affluence The wealth report found that West Palm and Palm Beach combined have 11,500 millionaires, 78 centimillionaires and 10 billionaires, but that may be low.

But many of the people who are still moving to South Florida are bringing lots of money with them, which does help the economy.

#RosenfeldRealtyAdvisors #CommercialRE #FL #MultifamilyToday #TomorrowIsFriYAY

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Future cities could be 3D printed – using concrete made with recycled glass The cement production industry accounts for around 8% of all carbon dioxide emissions. Using recycled glass instead of sand will be more sustainable.

Most people don’t even know this but you can 3D print with concrete and metal. There is no question in the future (hopefully the near) we will see entire towns and cities 3D printed.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #3DPrinting

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Miami developer breaks ground on $1B transit-oriented project Upland Park, located near a bus terminal facility, will feature 2,000 apartments and retail and commercial space at full buildout.

It is great to finally see these transit related projects starting to takeoff around Florida. Here we see a new one in West Miami that will deliver 2,000 new apts, along with 282,000 SF of retail and 414,000 SF of office space.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Government Downsizings Create Challenges for Senior Housing Political activity raises questions about government funding and adequate staffing levels.

How about some multifamily today? There is serious concern in the senior housing sector over all the Government downsizings. It can affect senior housing loans, staffing levels and of course Medicare and Medicaid.

#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Berkadia SVP Warns of Insufficient Senior Housing Beds In the next 10 years, people over 80 will increase by 50%.

For quite a while I have been advising people, even here on social media, to invest in senior housing. There are 2 reasons, one is there is already a shortage so hard to lose there.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #ItsAlmostFriYAY

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Multifamily Loan Crisis Looms as Community Bank Delinquencies Soar to $6.1B There was a ‘dramatic rise’ in realized losses as well.

But multifamily delinquency rates trail only the office sector and the community banks are feeling the stress, with delinquency hitting a 12 year high of $6.1 billion dollars.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #ItsAlmostFriYAY

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Home sales in Miami by foreigners have really dried up. It is down $2 billion dollars this year and is at the lowest point in nine years.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #FriYAYTomorrow

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Homeless Trust may build tiny homes in Miami-Dade As Miami strives to achieve functional zero homelessness, the city is increasing its shelter bed capacity with a $2 million funding boost while revisiting tiny homes as a possible long-term housing so...

Tiny homes coming soon to Miami!! Also great to learn that a community of tiny homes was already built in Tallahassee a couple of yrs ago. The homes are going to be built using modular housing tho, not 3D printing.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #FriYAYTomorrow

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Home prices soared in all 50 major metros in December A Redfin report found that Cleveland saw the biggest jump in December, as the budget-friendly market heats up....

How about some multifamily today? Home prices, already too high, rose in all 50 major metro areas in the U..S. last month. I will bet that they will rise even more this month.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #FriYAYTomorrow

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

These homes withstood the LA fires; architects explain why More than 12,000 structures have been consumed by the wildfires raging across Los Angeles this week, many of them single-family homes that have stood for decades. Read more at The Business Times.

Unfortunately my brother and his wife live in Pasadena and were displaced by the fires. So this article really caught my eye, and I think now it is relevant for all of us as climate change makes every place drier.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #ProtectYourHome

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

New York Governor Takes Aim at Wall Street's Home Buying Activities Its outcome could have far-reaching implications for housing policy across the US.

I'm not a political guy, as u have probably noticed, but I'm all 4 politicians keeping financial institutions fm buying up housing supply. I hope this becomes a nat'l law preventing them fm doing so.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #RecordSupplyNow #HappyHumpDay

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Apartment Market Logs Seventh Quarter of Record Supply Delivery totals have increased nearly every quarter since breaking 100,000 in Q2 2023.

Multifamily today! Apartment supply is in overdrive right now. For 7 straight quarters there has been a record amount of deliveries.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #RecordSupplyNow #HappyHumpDay

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Palm Beach County rental market one of top 10 "hottest" nationwide as competition for units climbs The average rent for an apartment in West Palm Beach as of late December ranged from $1,650 for a studio to $2,525 for a two-bedroom unit.

On the other hand, the Palm Beach County multifamily rental market is in the top 10 small markets in the U.S. There's an average of 13 people vying for each available rental apartment.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #FriYAYTomorrow

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Coastal Markets at Higher Risk of Housing Downturn Affordability gaps, high foreclosure, and unemployment rates drive the risk of a market downturn.

This is already happening in other US mkts but it is still going 2 b a crushing surprise 2 many in FL. Coastal mkts & waterfront props r losing value thanks 2 climate change. Yes it's going 2 happen here as well.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #HumpDayTomorrow

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

New York City Approves a Plan to Create 80,000 New Homes The City Council passed a major housing plan known as “City of Yes.” Experts and elected officials say it is only a first step to address the housing crisis.

New York City just passed a landmark plan to create 80,000 new homes. Could this be a roadmap for other large cities to do the same? We will find out!
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #HumpDayTomorrow

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Now heavily discounted, many office and multifamily properties are priced right & starting to sell. Retail & industrial still have a long way to go in terms of price discounts before they start trading in earnest.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #HumpDayTomorrow

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Penn-Florida Could Have Apartments Seized by Blackstone After $195M Loan Default This isn't the only problem Penn-Florida faces.

Multifamily on the menu today!! Boca Raton's high profile multifamily development site that was supposed to be the Mandarin Oriental Hotel & began construction in 2019 is mercifully finally heading to foreclosure.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #HumpDayTomorrow

Rosenfeld Realty Advisors

@rosenfeldcre.bsky.social

1 year ago

Multifamily Maturities Are Bringing Surprising Risk Negative leverage is coming for many borrowers.

Today is for multifamily!! Multifamily is a solid 2nd most at risk sector for foreclosure in comm'l real estate right now. It's the same story with expiring mortgages, maturing loans face twice the rate as before.
#RosenfeldRealtyAdvisors #CommercialRealEstate #FL #MultifamilyToday #HumpDayTomorrow