BREWSTER—Last month, the Putnam County economy and business community got two shots in the arm that will provide significant benefits for years to come. On Sept 11, the newly reorganized Putnam County Industrial Development Agency approved granting incentives in the form of a Payment in Lieu of Taxes agreement, as well as sales tax and…
Read MoreCARMEL—Putnam Hospital Center recently broken ground on a major capital project—the expansion and refurbishment of its emergency department. The project, which will take about two years to complete, was necessary due to the increased patient load at the emergency room. Putnam Hospital Center President Peter Kelly, in an interview with Real Estate In-Depth, said that…
Read MoreUpdates on Tilly Foster, Envision Brewster and How Sewer, Water Projects Could Foster Growth CARMEL—Prior to MaryEllen Odell taking office in November 2011, the economic development efforts in Putnam County were to put it politely outdated and were in fact close to non-existent. Since taking office Odell has made business attraction and retention, as well…
Read MoreSPRING VALLEY—Rockland County-based investment firm Concord Capital NY reported on Oct. 16th that it is seeking approvals to build a $175-million transit oriented development in Downtown Spring Valley. The project, which the firm states will be modeled after successful redevelopment initiatives in Downtown Yonkers, New Rochelle and in TOD-oriented locations on Long Island, calls for…
Read MoreEAST FISHKILL—National Resources of Greenwich, CT has acquired the former IBM East Campus in Fishkill. NRE is taking ownership of 300-acres of land with 2 million square feet of buildings from GlobalFoundries. The campus is set to become one of NRE’s signature i.Park-branded mixed-use tech/flex redevelopments with retail, hotel and residential components. National Resources is…
Read MoreNEW ROCHELLE—Earlier this month New Rochelle City officials joined with National Realty & Development Corp. to break ground on WatermarkPointe, a new $100 million, 72-unit luxury condominium waterfront residential project being built along the Long Island Sound in New Rochelle. Located on the Davenport Neck peninsula, WatermarkPointe will include nine four-story buildings of condominium residences…
Read MoreYONKERS—Forest City Enterprises is completing two major sale transactions that will for the most part signal its exit from the retail real estate market. Forest City is selling its interest in a host of regional malls and shopping centers, including the highly successful Ridge Hill Shopping Center in Yonkers it opened in 2011. QIC Global…
Read MoreNEW YORK—As expected, New York City will submit a sweeping proposal to land Amazon’s second headquarters requirement. City officials announced on Sept. 27th that the city has thus far received more than two-dozen proposals for possible locations for Amazon’s second headquarters. Collectively, the proposals total more than 50 million square feet of commercial space across…
Read MoreWHITE PLAINS—Westchester County has entered a contest that promises a huge payout—thousands of high paying, new jobs and billions of dollars in investment. Westchester County Executive Robert Astorino announced on Sept. 26th that the county would be submitting a proposal to Amazon for the e-commerce giant’s second corporate headquarters, a deal that could bring 50,000…
Read MoreNEW YORK CITY—E-commerce giant Amazon has certainly garnered headlines of late for its massive real estate requirements. Earlier this month, the Seattle-based retailer announced it would be conducting a national search for a second U.S. corporate headquarters valued at approximately $5 billion. While the heady requirement has economic development officials across New York State and…
Read MoreNEW YORK—The ownership at 12 specialty retail properties in the New York metro area totaling more than 2 million square feet of retail space will be changing by year’s-end. Forest City Realty Trust has signed an agreement to sell its 51% stake in 12 specialty retail properties in the New York City area to partner…
Read MoreWHITE PLAINS—Houlihan Lawrence Commercial Group, a division of Houlihan Lawrence, Inc. of Rye, has announced the formation of the Klein/Lanza Sales Team to be based here. The new group is led by real estate industry veteran Garry Klein, associate broker and regional sales manager with more than 25 years of experience, and Bryan Lanza, licensed…
Read MoreGOSHEN, NY—The $500-million LEGOLAND New York project proposed by Merlin Entertainments secured key approvals by a 4-1 vote of the Goshen Town Board on Thursday evening that put the development ever closer to breaking ground. The Town Board approved amendments to the town’s comprehensive plan and zoning law as well as the adoption of Local…
Read MoreMAMARONECK—Houlihan Lawrence Commercial Group reported recently it brokered the sale of two commercial retail spaces in Mamaroneck. The neighboring properties, located at 1137 and 1139 West Boston Post Road were sold for $2 million. Bryan Lanza was successful in representing the seller and owner of Elko Auto Repair, a mixed-use building, as well as the…
Read MoreNEW YORK—The timeliness of this year’s Global Real Estate Summit NYC is significant, as the event is set to take place amid skyrocketing foreign investment in U.S. residential real estate. According to a recently released report from the National Association of Realtors, growth within the commercial sector is promising, as well. Backed by the premier…
Read MoreWASHINGTON— Commercial real estate price growth in large markets is expected to flatten over the next year, but strong leasing demand and investor appetite in smaller markets should keep the sector on solid ground, according to the latest National Association of Realtors quarterly commercial real estate forecast (available at https://www.nar.realtor/reports/commercial-real-estate-outlook). Backed by the ongoing stretch…
Read MoreNEW YORK—While President Donald Trump and New York Gov. Andrew Cuomo have each professed the need for the federal and state governments, and the private sector to invest more in infrastructure, a proposal released by the Regional Plan Association to fix the New York City transit system may test the mettle of both men. The…
Read MoreGOSHEN—The Commercial Investment Division of the Hudson Gateway Association of Realtors, in cooperation with the Orange County Partnership, is holding a breakfast meeting on Thursday, Sept. 7 to discuss “The Future of Route 17.” The event will be held at the Harness Racing Museum & Hall of Fame at 240 Main St. and will begin…
Read MoreHYDE PARK—Marriott International has awarded a joint venture of Bellefield Development Partners and the Shaner Hotel Group a franchise for a 133-room Residence Inn to be built at the mixed-use Bellefield at Historic Hyde Park project here. The Hotel at Bellfield will be the first project to be constructed at the $500-million proposed Bellefield at…
Read MoreCENTRAL VALLEY—The owner of the highly popular Woodbury Common Premium Outlets here may have spent nearly $1 million recently to settle charges of engaging in anti competitive behavior, but it did not do so quietly. Simon Property Group after settling litigation with the New York State Attorney General over alleged anticompetitive tactics it employed in…
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