Commercial

Amazon Announces Candidates for HQ2; NYC Among 20 Locations in the Running

January 2018

SEATTLE—The multi-billion dollar sweepstakes for Amazon’s second North American headquarters (HQ2) is now down to 20 locations. Although some New York City suburban locations submitted bids for Amazon’s HQ2 including Westchester County, 19 mostly urban cities and Toronto, Canada made the final 20 cut. Amazon considered a total of 238 proposals. Amazon’s corporate headquarters is…

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Water Park Project Under Construction At Resorts World Catskills Campus

January 2018

MONTICELLO—Camelback Resorts announced on Jan. 16 its The Kartrite Hotel & Indoor Waterpark project is under construction at the Resorts World Catskills campus located in the Town of Thompson in Sullivan County. Set to open in early 2019, The Kartrite will feature two acres of four-season indoor waterpark space and a luxury hotel with 324…

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Brokers Bullish on Commercial Office Market in Region With Exception of Northern Westchester

January 2018

WHITE PLAINS—Commercial brokers believe that the commercial office market in Westchester County is strong enough that if conditions continue over the next few years the county could see the first new commercial office development project in decades. Approximately 80 real estate professionals attended the annual Commercial Broker Roundtable program staged by the Hudson Gateway Association…

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Governor, Legislature Strike Deal on First-Time Homebuyer Tax Incentive

December 2017

ALBANY—New York State Gov. Andrew Cuomo citing the legislation’s potential costs, reached an agreement on Dec. 18 with the State Legislature to have three state agencies study the fiscal impacts of establishing the New York State First-Time Homebuyer Savings Program. The governor signed the New York First Time Homebuyer Savings Program (NY First Home) bill…

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Rockland Lands Another Major Data Center

December 2017

ORANGETOWN—Rockland County continues to be a hub for major data center users. Most recently, Bloomberg and fifteenfortyseven Critical Systems Realty have developed major facilities in Rockland. In October, JP Morgan Chase became the latest to announce plans for a Rockland County location. On Oct. 18th, JP Morgan Chase closed on the $7.5-million purchase of 60…

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REDC Looks to Grow Economy With New Initiatives

December 2017

PEARL RIVER—Flushed from the record success in the annual Consolidated Funding Application competition where more than 10 critical projects in Rockland County secured state funding, REDC President and CEO Jeremy Schulman said the county’s economic development agency plans a host of targeted initiatives and programs geared at attracting new business and growing existing commerce in…

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Rockland County Secures Nearly $6 Million in State Funding

December 2017

ALBANY—Rockland County, reversing years of earlier frustration in landing state funding under Gov. Andrew Cuomo’s Consolidated Funding Application competition, took home an impressive $5.8 million in CFA funding in this year’s competition. Rockland County Executive Ed Day said the awards include funds to expand private businesses, revitalize communities and encourage tourism. "This investment in Rockland…

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GOP, President Trump Score Major Victory With Tax Reform Passage

December 2017

WASHINGTON—As expected, in a procedural vote the House of Representatives approved the Tax Cut and Jobs Act on Wednesday. The controversial measure passed 224-201, with no support from Democratic Congressional representatives. A total of 12 House GOP members voted against the bill. The Senate passed the bill earlier in the morning by a 51-48 margin.…

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A Conversation with County Executive Ed Day

December 2017

After Bringing County Back From Financial Brink Day Looks to Advance Key Policies in Second Term NEW CITY—The chief focus of Rockland County Executive Ed Day’s first four years in office was to implement governmental and budgetary reform to improve county government operations and put the days when county government was on the brink of…

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County Executive-Elect Latimer Will Review Merits of $1.1B Airport Privatization Deal

December 2017

TARRYTOWN—Westchester County Executive-Elect George Latimer met with county business leaders on Dec. 12th and said that Republicans and Democrats in county government must work together to face new business and political realities. He also said that because the county budget for 2018 has yet to be finalized, he feels somewhat “hamstrung” in trying to implement…

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Work to Start Soon on $150M Road Project by Woodbury Common

November 2017

HARRIMAN—New York Gov. Andrew Cuomo traveled to Orange County on Wednesday to announce the impending start of construction on the long-awaited Exit 131 project adjacent to Woodbury Common Premium Outlets. New York State officials announced that Yonkers Contracting Co. Inc. and subcontractor design firm HNTB were awarded the Design-Build contract. A spokesman for Yonkers Contracting,…

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Ginsburg's Scarsdale Retail Condo Trades to Investor for $17M

November 2017

SCARSDALE, NY—Ginsburg Development Companies has sold the retail condominium component of its Christie Place mixed-use project across from the Scarsdale Metro North train station. Knowledgeable sources have informed Real Estate In-Depth that the deal was valued at $17 million. The sale to an unidentified private investor was announced by brokerage firm Holliday Fenoglio Fowler, L.P.,…

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White Plains Hospital Opens New Hospital Expansion

November 2017

WHITE PLAINS— White Plains Hospital unveiled its recently completed addition to its Central Clinical Services operations totaling 20,300 square feet of space at a ribbon-cutting ceremony held on Nov. 20th. The new space at the center of the hospital, from floors three to six, was designed by Perkins Eastman Architects and complements the hospital’s ongoing…

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Project Update: Resorts World Catskills Readies for March 2018 Opening

November 2017

THOMPSON, NY—The tourism industry in the Hudson Valley will likely never be the same in just a few months because in mid-February a new player in the casino gaming industry in the Northeast will arrive—the $1.3 billion Resorts World Catskills casino resort. The first delivery of what will eventually be 2,157 high-tech slot machines arrived…

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Public, Private Institutional Construction Booming in New York City

November 2017

NEW YORK—Public and private institutional construction starts in New York City through the third quarter of this year totaled approximately $4.2 billion, well above the $3.7 billion this sector produced all of last year. Paced by major projects, such as the $1.2-billion Jacob K. Javits Convention Center expansion and other major initiatives, the total for…

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Health Care, Communications, Tech Sectors Key Drivers of Commercial Real Estate Market in Westchester

November 2017

WHITE PLAINS—Tenant demand by health care, technology and communications concerns, particularly along the I-287 corridor, are helping bolster Westchester County’s commercial office market. Commercial brokerage firms Houlihan Lawrence and JLL recently released respective third quarter 2017 market reports for Westchester County. For the most part the two firms agreed on a number of positive prevailing…

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