NEW YORK—City and state officials announced on March 18 that Great Performances, the city’s largest woman-owned catering and food services firm, will be relocating operations from Hudson Street in New York City to the South Bronx. Gov. Andrew M. Cuomo announced that as part of the relocation, Great Performances will create 181 new jobs and…
Read MoreWHITE PLAINS—The day business, political and real estate leaders have dreaded has arrived—on March 15 most of Westchester County was included in a new natural gas connection moratorium imposed by utility Con Edison. Amid charges by many that the moratorium will delay and perhaps kill billions of dollars in new development projects and thousands of…
Read MoreMONTICELLO—The old gaming adage: “The House always wins,” doesn’t apply yet to the Hudson Valley’s only full-licensed casino gaming resort. The $1.2-billion Resorts World Catskills Casino Resort lost nearly $139 million last year and a total of $185 million in the last two years. According to a 10K filing with the Securities and Exchange Commission…
Read MoreELMSFORD-Robert Martin Co., one of the pioneer commercial office real estate development firms in Westchester County, has confirmed plans to reacquire approximately 95% of the portfolio it developed here and in Fairfield County, CT and sold more than two decades ago in a deal valued at $487.5 million. Industry observers say the deal, if finalized,…
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news
FISHKILL—The Hudson Valley Chapter of the New York State Commercial Association of Realtors will hold its "2019 Annual Commercial Real Estate Conference" on Wednesday, April 3rd and Thursday, April 4th at the Hyatt House located at 11 Westage Business Center in Fishkill. Peter West, ABR, CCIM, CRS, GRI, SEC will instruct the education segment, presenting…
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legal-advocacy
It is the middle of the tax season and it important to highlight some of the major provisions of the Tax Cuts and Jobs Act (“TCJA”) (see http://bit.ly/2jZX47p) passed in December, 2017, affecting the real estate industry. The TCJA includes many new provisions, and retained some previous provisions, with both positive and negative effects on…
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people
The Hudson Gateway Association of Realtors regrets to inform its membership of the recent passing of Kyoko Ozawa, an agent with Claire D. Leone Associates of Scarsdale. The brokerage firm reported that Ozawa passed away on Monday, March 11 in Irvine, CA. She joined the Claire D. Leone office in 2013 as an Associate Broker…
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residential
YONKERS—Yonkers Mayor Mike Spano announced on March 15 that new legislation had passed the Yonkers City Council, which requires residential properties with 25 to 50 housing units to install dog waste disposal stations outside the building. Additionally, every building or structure that allows dogs with 51 or more units shall provide two or more dog…
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The Westchester commercial real estate market is in the midst of a significant transition in 2019. Individual buildings and large portfolios are being sold to new owners, and the availability of certain types of spaces is extremely low. Tenants need to understand today’s market dynamics and what is happening in terms of pricing to properly…
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This past week HGAR President Ron Garafalo, CID President John Barrett, HGAR Director of Professional Development and Industry Relations Theresa Hatton and I spent four days at the MIPIM conference in Cannes France. MIPIM is a French acronym that stands for Marché International des Professionnels d'Immobilier, and the conference bills itself as the "world’s leading…
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technology
In recent years, many Microsoft Office 2016 (and Office 365) users have become familiar with saving files to Microsoft's OneDrive file storage service. If you're not familiar with OneDrive, the service enables users to store, backup, sync and access files between their computing devices and the online service. Unfortunately, many people would prefer to use…
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mortgage
CHICAGO—Commercial brokerage firm JLL reported on March 19 it had entered into a definitive agreement to acquire HFF, Inc. in a cash and stock transaction with an equity value of approximately $2 billion. The two companies reported the transaction was unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF,…
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