Commercial

Hudson Valley Commercial ‘Dealmakers’ Honored

January 2017

NEWBURGH– Remarkable achievement in regional commercial real estate was acknowledged at the recent prestigious “Dealmaker” awards and mixer. The event was presented by the Hudson Valley chapter of NYSCAR (New York State Commercial Association of Realtors), network of commercial real estate professionals. Motorcyclepedia Museum in Newburgh was the host of the second annual awards ceremony,…

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New Rochelle Issues RFP to Redevelop Harrison Street Fire Station #1 Property

January 2017

NEW ROCHELLE—The City of New Rochelle issued a Request for Proposal for the redevelopment of Fire Station #1 at 45 Harrison St. on Jan. 2. The city-owned property is not included in the portfolio of properties included in the city’s far reaching Master Development Agreement with RDRXR, a partnership of Renaissance Downtowns and RXR Realty,…

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Reaction Mixed to Reported Indian Point Closure Deal

January 2017

BUCHANAN—The devil will certainly be in the details of the widely reported tentative deal between Gov. Andrew Cuomo and Entergy Corp. to shutter the two nuclear reactors at Indian Point Energy Center here by 2021. The New York Times initially reported the deal between the Cuomo administration and Entergy on Friday that calls for one…

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Exclusive: Higher Than Expected Development Costs Prompt Rockland Firm to Scrap Warwick Plant Project

January 2017

WARWICK—A family-owned fine flavor manufacturing firm that dates back to 1890—Star Kay White Inc. of Congers—has decided not to move forward on a planned multi-million dollar expansion at the Warwick Valley Office & Technology Park, Real Estate In-Depth has learned, due to higher than expected construction costs. Benjamin Katzenstein, president of Star Kay White, informed…

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Regeneron to Buy Headquarters Property in Blockbuster $720M Deal

January 2017

TARRYTOWN—Regeneron Pharmaceuticals, Inc. has entered into a purchase agreement with the owner of the Landmark at Eastview, an affiliate of BioMed Realty, L.P., to acquire the nearly 1.5-million-square-foot office and laboratory complex on approximately 150 acres for $720 million. The fast-growing pharmaceutical firm reported the transaction in its Form 8-K filing with the Securities and…

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Galleria at Crystal Run Losing One of its Anchors

January 2017

TOWN OF WALLKILL—The Sears department store and adjoining Sears Auto Center at the Galleria at Crystal Run mall here will close by mid-April. Sears has been a staple in the retail market in Orange County and particularly in the Middletown-Wallkill area for decades. Sears is an original anchor of the Galleria at Crystal Run, which…

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Putnam’s Odell Touts Tilly Foster, Danbury Sewer Deal

December 2016

CARMEL—Putnam County Executive MaryEllen Odell said recently that her “Year of Business Development” launched in March 2016 as part of her State of the County Address has achieved some significant goals by year’s-end. Among the economic development oriented initiatives highlighted by the County Executive included approved plans for a new senior center at the Butterfield…

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Astorino: Westchester Has Spent $82M on Fair Housing Case

December 2016

WHITE PLAINS—As expected, Westchester County Executive Robert Astorino reported that the county had surpassed the court-mandated fair housing development benchmark of having financing in place and/or building permits issued for 750 units of affordable housing in 31 communities by the end of this year. Astorino at a Dec. 27th press conference at the Michaelian Office…

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County Recognizes Award-Winning Building

December 2016

MAMARONECK—With friends, family and industry partners on hand, Sean and Chis Murphy celebrated the first anniversary of Mamaroneck Self Storage’s facility at 426 Waverly Ave. here. Ross Weiner, on behalf of County Executive Robert Astorino, presented the Murphy brothers and the Mamaroneck Self Storage staff with a proclamation declaring Dec. 21st “Mamaroneck Self Storage Recognition…

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Rockland County Budget Veto Override Vote Fails

December 2016

NEW CITY—Earlier this week the Rockland County Legislature failed to secure the necessary two-thirds majority to override Rockland County Executive Ed Day’s vetoes in Rockland County’s 2017 budget. The Legislature voted 11-5 to override the vetoes, but fell short of the mandated 12 votes necessary to achieve the two-thirds majority. According to the Journal News,…

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Westchester’s RPW Group Sells NYC Property for $108M

December 2016

NEW YORK—Robert Weisz’s RPW Group, Inc. has sold an office building on the West Side of Manhattan in the Garment District to ATCO Properties & Management for $108 million. Rye-Brook based RPW Group sold 240-246 West 35th St., an 18-story 165,000-square-foot office building located near Penn Station.  The transaction closed on Dec. 20th. The office…

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New Rochelle Looks to Create Downtown Arts and Cultural District

December 2016

NEW ROCHELLE—As the city moves forward on its ambitious and far-reaching Downtown redevelopment plan, the city is also working on a master plan to create an arts and cultural district downtown as well. City leaders say that the district is envisioned to be a “regional mecca for artists and innovators in line with the city’s…

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RXR Begins $190M Mixed-Use Project in Downtown Yonkers

December 2016

YONKERS—Marking the firm’s second major groundbreaking of late in Westchester County, developer RXR Realty and partner Rising Development joined Yonkers Mayor Mike Spano and city officials on Dec. 14th to officially begin construction on its $190-million Larkin Plaza mixed-use development project. The Larkin Plaza project, among the largest private developments in downtown Yonkers in some…

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Wegmans Announces Plans To Build Harrison Store

December 2016

HARRISON—Wegmans Food Markets, Inc. has confirmed that the family-owned supermarket chain has signed a purchase agreement with Normandy Real Estate Partners for a 20-acre parcel of land, located at 106-110 Corporate Park Drive in Harrison to build a new store. “We look forward to the day when we can welcome customers into our Harrison store…

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Governor Cuomo Doubles Down On Life Sciences Sector Growth

December 2016

ALBANY—New York Gov. Andrew M. Cuomo announced on Dec. 12 what he terms a groundbreaking new $650-million initiative to spur the growth of a new, world-class life science research cluster in New York, as well as expand the state’s ability to commercialize this research and grow the economy. The multi-faceted initiative includes $250 million in…

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New Tappan Zee Bridge to Open on Time in 2018

December 2016

TARRYTOWN—At a topping off ceremony for the new span’s eight towers, state officials announced that the new Tappan Zee Bridge (also known as the New NY Bridge) will open for traffic in 2018 and will be completed on budget at $3.98 billion. A host of political, business and construction trade officials gathered at the project…

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Westchester IDA, LDC Generated $604M in Private Investment in 2016

December 2016

WHITE PLAINS—Westchester County Executive Robert P. Astorino announced earlier this moth that projects supported by the Westchester County Industrial Development Agency and Local Development Corporation in 2016 totaled $604 million in private investment. The 13 IDA and LDC projects created or retained approximately 2,179 permanent and construction jobs. The year-end results were announced at the…

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Veterinary Neurologist Acquires Brewster Commercial Space

December 2016

BREWSTER—Steven Salomone of Houlihan Lawrence Commercial Group reported the brokerage firm recently closed on a commercial real estate sales transaction here valued at $2.49 million. A veterinary neurologist and primary care specialist plans to repurpose an existing 29,000-square-foot former software distribution center and warehouse at 4 Hardscrabble Heights as a new specialty care center for…

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Professional Soccer Team Building Training Facility in Orangeburg

December 2016

ORANGEBURG—Construction has begun on a training facility for the MLS professional soccer team the New York City Football Club (New York City FC) on a 17-acre site here. Construction commenced on The City Football Academy in the fall and is expected to be completed in early 2018. The plans originally announced in October consist of…

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