Commercial

NY Entering New COVID Phase; Hospital Capacity, Staffing Now Top Concern

November 2020

ALBANY—In response to rising COVID hospitalizations throughout the state, New York Gov. Andrew Cuomo said today that the state is entering a new phase in its “war against COVID.” The governor and the New York State Department of Health are issuing directives that focus on a new strategy geared to ensuring sufficient hospital capacity throughout…

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Developer Breaks Ground on 500,000 SF ‘Spec’ Logistics Project in Orange County

November 2020

GOSHEN—Officials with Boston-based development firm GFI Partners and commercial brokerage firm Resource Realty of Parsippany, NJ were joined by county and local dignitaries on Nov. 24 to turn the first dirt on the largest speculative industrial project in memory in Orange County. The local officials that attended the event celebrating the launch of the 500,000-square-foot…

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Morgan Stanley Plans $200M Renovation of Harrison Office Complex Thanks to Westchester IDA Incentives

November 2020

WHITE PLAINS—The Westchester County Industrial Development Agency announced on Nov. 25 it recently granted final approval for incentives ranging from $6.5 million to $13 million to Morgan Stanley for the financial services firm’s planned more than $200-million renovation of its corporate office complex at 200 Westchester Ave. in Harrison. The Industrial Development Agency stated that…

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NYC-Based Monday Properties Acquires Stamford Office Complex for $27.25M

November 2020

STAMFORD, CT—Monday Properties, a national real estate firm based in New York City, has acquired a two-building office complex totaling 224,000 square feet at 900 Long Ridge Road in Stamford, CT for $27.25 million. The deal marks Monday Properties’ second acquisition in less than two months and the first this year in the New York…

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Nanuet Investment Firm Acquires Mack-Cali Office Building for $12.75M

November 2020

PARSIPPANY, NJ—The Birch Group of Nanuet has acquired from Mack-Cali Realty Corp., a 154,820-square-foot office building at 7 Campus Drive here for $12.75 million. The sale by Jersey-based Mack-Cali is part of an ongoing disposition of its office assets. The firm reported that the sale brings its year-to-date suburban office dispositions to $270.35 million. “We…

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NRC Approves License Transfer of Indian Point Energy Center

November 2020

WASHINGTON—The Nuclear Regulatory Commission announced on Monday (Nov. 23) it had approved the transfer of the Indian Point nuclear power plant licenses from Entergy Nuclear Operations to Holtec International, as owner, and Holtec Decommissioning International as decommissioning operator. Holtec and HDI have announced that they intend to expedite the decommissioning and dismantling of the power…

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ULI Forecast Says Worst U.S. Economic Fears Have Eased

November 2020

While the economic impact of the coronavirus this year has been dramatic, two recently released reports indicate that the real estate industry and the U.S. economy are expected to fare better in 2021. The Urban Land Institute’s latest Real Estate Economic Forecast predicts less of a slump for the rest of this year than was…

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Douglaston Development Announces Launch of Nationwide Development Venture

November 2020

NEW YORK—Jeffrey E. Levine, the founder and chairman of New York City-based The Douglaston Companies, announced on Nov. 23 the launch of DD Nationwide, which will be under The Douglaston Companies umbrella. DD Nationwide was established to pursue real estate development opportunities outside of the New York metropolitan area to further broaden Douglaston’s robust scope…

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Westchester Launches Free Mentoring, Training Program

November 2020

WHITE PLAINS—Focused on supporting local businesses struggling during the pandemic, Westchester County Executive George Latimer and the Westchester County Office of Economic Development unveiled on Nov. 19, Westchester RISES, a free program designed to support existing businesses that are looking to pivot or rebuild in response to the pandemic, or build resilience to prepare for…

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NRC Poised to Approve Indian Point License Transfer to Holtec International

November 2020

NRC Poised to Approve Indian Point License Transfer to Holtec International BUCHANAN, NY—The staff of the Nuclear Regulatory Commission has approved the license transfer of the Indian Point Energy Center here from Entergy Corp. to Camden, NJ-based decommissioning firm Holtec International. The full Nuclear Regulatory Commission is expected to issue an order on Monday (Nov.…

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Life Sciences Firm to Relocate to Hawthorne

November 2020

ELMSFORD—Robert Martin Company’s expansion into serving the needs of the life sciences/health tech industry with the formation of RMC Bio1 is beginning to pay off. The firm announced that New York City-based Clarapath will be shifting its corporate headquarters from New York City to a building it owns in Hawthorne. Clarapath, a developer of an…

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Putnam Valley Business Network Merges with Putnam County Business Council

November 2020

MAHOPAC—The Putnam County Business Council and the Putnam Valley Business Network announced today the merger of the two organizations. As a committee under the PCBC, the PVBN will lead the Business Council’s new Putnam County Traveling Business Network. “As an extension of our rebranding efforts over the past year, we are focused on expanding the…

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Former Macy’s Store Qualifies to Host Film and TV Productions

November 2020

NANUET—Rockland County Executive Ed Day and Director of Economic Development and Tourism Jeremy Schulman announced recently that RTL Nanuet, owners of the former Macy’s store located next to the Shops at Nanuet, has been approved to operate as Rockland’s 5th NYS Qualified Film Production Facility under the regulations governed by the Empire State Film Production…

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Westchester Awards $10 Million to 262 Businesses, Nonprofits

November 2020

WHITE PLAINS—The Westchester County Office of Economic Development announced on Nov. 10 it had awarded a total of $10 million to 262 county-based small businesses and nonprofits facing challenges as a result of the COVID-19 crisis. Recipients include businesses in industries such as restaurants/food service; arts, entertainment and recreation; social services; education and more. The…

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Westchester CE Latimer Proposes Tax Cut Despite COVID Pandemic

November 2020

WHITE PLAINS—With a backdrop of rising coronavirus cases in Westchester County and New York State, Westchester County Executive George Latimer has proposed a tax cut in his 2021 Operating Budget plan. The County Executive has proposed a $1-million tax cut for the second year in a row. The budget, thanks to $168 million in COVID-19…

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Orange County’s Commercial Market Outlook is Upbeat Despite Pandemic

November 2020

TOWN OF WALLKILL—Panelists and participants in the Orange County Partnership’s recently held Commercial Market Forecast were bullish on investment and development interest and opportunities in Orange County in spite of and in some instances because of the COVID-19 pandemic. The program was held on Oct. 27 at the West Hills Country Club and was attended…

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Listen, Learn, Pivot and Adapt: Today’s Secrets to Growing Your International Business

November 2020

Growing your international residential real estate business in today’s “new normal” times requires listening, learning, pivoting and adapting. That advice, courtesy of Kevin Brown, senior global real estate advisor and associate broker with Sotheby’s International Realty in Manhattan, was presented on Nov. 5 during the 2020 Global Real Estate Summit, held virtually this year. Brown…

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Albano, Ellman Sworn in by Mayor To Top City Planning Positions

November 2020

YONKERS—Yonkers Mayor Mike Spano announced on Nov. 5 he recently sworn in Commissioner Louis J. Albano and Deputy Commissioner Lee J. Ellman to head the city’s Department of Planning & Development. The Yonkers City Council confirmed the mayor’s appointments at its Council meeting last week. “Collectively, Lou and Lee bring over 70 years of experience…

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