Commercial

Local Mortgage Firm Has Grand Expansion Plans

February 2019

WHITE PLAINS—A.S.A.P. Mortgage, which is headquartered in Cortland Manor, has embarked on a significant expansion effort of late that has included the opening of new offices in New York City and White Plains and the launch of a new commercial finance division. In addition, the company reports its intent to open additional locations in the…

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TD Ameritrade Building in Scarsdale Changes Hands for $10.3 Million

February 2019

SCARSDALE—New York City-based Helmsley Spear, LLC, reported on Feb. 13 that the firm brokered the sale of the TD Ameritrade building in Scarsdale. Located at 880 Central Park Avenue, the TD Ameritrade building is a two-story structure comprising 5,000 square feet with TD Ameritrade Bank as the sole tenant under a 12-year lease. The transaction…

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Simone Granted Incentives for Montefiore Medical Project

February 2019

WHITE PLAINS—Simone Healthcare Development recently secured a resolution of intent from the Westchester County Industrial Development Agency to provide nearly $1.75 million in incentives for its $61-million plan to redevelop a vacant office building in Harrison, NY into a pediatric care ambulatory facility for Montefiore Medical Center. Simone Healthcare, an affiliate of Simone Development Companies,…

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HGAR's Commercial & Investment Division to Tackle Natural Gas Moratorium’s Impacts

February 2019

WHITE PLAINS—Con Edison has officially announced its intention to impose a moratorium on new natural gas connection service for a majority of Westchester County. The gas utility will stop accepting applications for new natural gas service on March 15. Join the HGAR Commercial and Investment Division on Thursday, Feb. 28th for an informative morning discussion…

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GATEWAY PERSPECTIVES: Dark Clouds Can Lead to New Opportunities

February 2019

2018 was a solid year for real estate in the lower Hudson Valley. However, as the year progressed, we did experience slowly declining sales numbers. Whether this had to do with prospective purchasers having concerns about the SALT deduction limits is probably too early to tell, and we should have a better feel when we…

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Robison Energy Moving HQ to Port Chester

February 2019

PORT CHESTER—Robison Energy, LLC is relocating its corporate headquarters from Elmsford to the Gateway Plaza office building in Port Chester. The long-term lease deal for approximately 11,000 square feet of space at Gateway Plaza (55 South Main St.) in Port Chester was announced by Jamie Schwartz, executive vice president of GHP Office Realty, LLC, an…

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Clarkstown Forms Committee to Develop Pro-Growth Plan

February 2019

NEW CITY—Clarkstown Supervisor George Hoehmann announced on Feb. 4 the creation of the Clarkstown Business and Economic Development Advisory Committee that is now charged with developing a strategic, pro-growth plan for the town. The committee will focus initially on studying continued shifts occurring in the town’s vitally important retail sector and ways the town can…

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Commercial Brokers Expecting Another Good Year for Region

February 2019

WHITE PLAINS—A record crowd of approximately 150 real estate professionals attended the annual Commercial Broker Roundtable presented by the Hudson Gateway Association of Realtors’ Commercial Investment Division on Jan. 23. The panel of veteran commercial brokers who do business in the lower Hudson Valley and New York metro region, were upbeat at the session held…

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Westchester County Association, HVEDC Agree to Merger

January 2019

WHITE PLAINS—The storied Westchester County Association, which has been one of the county’s leading business advocacy organizations for nearly 70 years, says it intends to merge operations with regional economic development agency the Hudson Valley Economic Development Corp. The deal between the two organizations is intended to create a regional economic development and business advocacy…

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Westchester Office Properties Ended the Year on a High Note

January 2019

RYE BROOK—Strong economic fundamentals in the U.S., the greater New York City area, and in Westchester County continue to drive a healthy commercial real estate market, according to a new fourth quarter report released recently by Houlihan Lawrence’s Commercial Group. “Widespread fears about the health of the economy have proven unfounded in the face of…

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Empire City Casino Changes Hands to MGM Resorts in $850M Deal

January 2019

YONKERS—The era of the Rooney family at Yonkers Raceway came to an end on Tuesday with the closing of the $850-million sale of Empire City Casino and Yonkers Raceway to MGM Resorts International. The Rooney family acquired the storied Yonkers Raceway property in 1972 and opened the highly successful Empire City Casino in October 2006.…

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Fareri to Revitalize Longstanding Goshen Retail Eyesore

January 2019

GOSHEN—The developer who earlier this month signed a contract with Westchester County to build a more than $1-billion bioscience park in Valhalla, has proposed a$60-million plan to rid the Village of Goshen of a mostly vacant and blighted property. Fareri Associates of Greenwich, CT presented the Goshen Planning Board on Jan.22 a plan to redevelop…

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Little of Old Tappan Zee Bridge Remains

January 2019

On Jan. 15, Tappan Zee Constructors, the contractor for the new Tappan Zee Bridge (Mario M. Cuomo Bridge), lowered the 672-foot section of steel, using charges to deliberately fail vertical members supporting the span. Portions of the old east anchor span, currently above the water line, will remain visible as it is removed from the…

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