Commercial

Kathleen Abels Named New President of Putnam EDC

July 2019

CARMEL—The Putnam County Economic Development Corp. (EDC) announced on July 9 that Kathleen Dennehy Abels was named president of the agency. Abels began working at PEDC effective July 1. Abels has decades of experience in public relations, customer service, marketing, construction and project management. She recently completed a career at New York State Electric &…

Read More

NY Developers Acquire Troubled United Hospital Property

July 2019

PORT CHESTER—Starwood Capital Group, which acquired the shuttered United Hospital property here 13 years ago and proposed a $450-million redevelopment at the site, has sold the complex to partners Rose Associates and BedRock Real Estate Partners of New York City. No financial details of the transaction were disclosed. The sale of the 15.45-acre site that…

Read More

Aurochemicals Opens New $2.5M Warehouse At its Headquarters Complex in Washingtonville

July 2019

WASHINGTONVILLE—Aurochemicals, a manufacturer of natural aroma ingredients for the flavor and fragrance industry, marked the official opening of a brand-new, $2.5-million warehouse facility with a ribbon cutting ceremony on July 9. Local dignitaries, including Orange County Executive Steven Neuhaus; Village of Washingtonville Mayor Joseph Bucco and Orange County Chamber of Commerce President and CEO Lynn…

Read More

Knotel’s NYC Network Reaches 100 Buildings

July 2019

NEW YORK CITY—Global workspace provider Knotel reports it has finalized deals for five new locations in New York City, bringing its overall footprint here to 100 buildings and nearly 2.5 million square feet of office space. The firm’s announcement on July 1 followed completed deals for 24 new locations in New York City, London, Paris…

Read More

New Rochelle City Council Oks New 24-Story TRYP Hotel by Wyndham

July 2019

NEW ROCHELLE— Add another high-rise development to the list of projects under construction or in the pipeline in the Queen City. The New Rochelle City Council on June 25th approved the development of a 24-story, 225-key globally-branded luxury hotel and event center at 115 Cedar St. When complete, the TRYP Hotel by Wyndham will be…

Read More

College of New Rochelle Campus to Close and be Sold

June 2019

NEW ROCHELLE—The unpleasant, but inevitable, is at hand for students and alumni of the storied College of New Rochelle. The private college, which served Westchester County and the surrounding area for more than a century, will cease operations later this summer and its 15.6-acre campus here sold. New York City-based A&G Realty Partners and B6…

Read More

WCA, HVEDC Call Off Pending Merger Deal

June 2019

POUGHKEEPSIE—The Hudson Valley Economic Development Corp. and the Westchester County Association have called off their merger deal. The two business organizations, which had announced in late January their intent to merge, have mutually decided not to pursue the merger that was to be finalized this September. The HVEDC is a regional economic development organization based…

Read More

Westchester IDA Approves Incentives For Three Major Development Projects

June 2019

WHITE PLAINS—The Westchester County Industrial Development Agency on June 13 granted final approvals for incentives to firms that plan to redevelop the White Plains Mall and the former Westchester Pavilion Mall, as well as build a new senior living project on Bloomingdale Road here. The three projects total well in excess of $1 billion in…

Read More

Business Council Taps Two Economic Development Execs. to Board of Directors

June 2019

RYE BROOK—In a move to bolster its planning and economic development expertise, the Business Council of Westchester has named Wilson Kimball, Commissioner of Planning and Development for the City of Yonkers and Luiz Aragon, Commissioner for Development for the City of New Rochelle, to its Board of Directors. “We are truly honored to have these…

Read More

Learn More About the CFA Process

June 2019

WHITE PLAINS—The Westchester County Office of Economic Development is urging businesses, organizations and municipalities to attend informational workshops being held this month to learn more about funding opportunities in the next round of the Mid-Hudson Consolidated Funding Application (CFA). The Westchester County Office of Economic Development will hold a series of informational sessions throughout Westchester…

Read More

Wells Fargo to Sell Eastdil Secured in Management Buyout Deal

June 2019

NEW YORK—Wells Fargo & Co. announced on June 11 it had reached an agreement to sell Eastdil Secured, its private real estate investment banking division, in a management buyout transaction. The sales agreement follows Eastdil’s management-led recapitalization, in partnership with Guggenheim Investments, on behalf of certain institutional clients, and Temasek, a global investment company headquartered…

Read More

NAHREP Launches Westchester County Chapter

June 2019

WHITE PLAINS—The National Association of Hispanic Real Estate Professionals officially launched its Westchester County Chapter recently with a kick-off party at an office rooftop in White Plains. The event drew more than 150 people and included special guest Chef Barret Bayer of the “Hell’s Kitchen” and “Million Dollar Listing” TV shows. NAHREP currently has more…

Read More

White Plains Releases Long Awaited RFP For Redevelopment of Transit District

June 2019

WHITE PLAINS—The City of White Plains announced on June 6 that it had released the long-awaited Request for Proposals for interested development firms to redevelop three city-owned properties and one Urban Renewal Agency parcel in the city’s Transit District. The four parcels total approximately 4.5 acres and are located along the easterly side of the…

Read More

HGAR’s Commercial & Investment Division Hosts First-Ever Women in Commercial Real Estate Panel

June 2019

Diversity, challenges and a new perspective for the future were the prevailing themes at the Hudson Gateway Association of Realtor’s first-ever “Women in Commercial Real Estate” panel discussion held on June 6 at HGAR’s White Plains headquarters. Describing the panel as “the forefront of the commercial real estate community,” Patricia Valenti, moderator and executive managing…

Read More

IDA-Issued Tax Breaks in NY Continue to Rise

May 2019

ALBANY—New York’s Industrial Development Agencies provided a total of $751 million in net tax exemptions for local economic development projects in 2017, an increase of more than 5% from the previous year, according to a report issued on May 29 by New York State Comptroller Thomas P. DiNapoli. The Mid-Hudson ($175 million) and Long Island…

Read More

Latimer Seems to Turn Page on County Airport P3; Puts Out RFP on Airport’s Future Use

May 2019

WHITE PLAINS—Westchester County Executive George Latimer has seemed to move away from a $1.1-billion public-private partnership negotiated by the former administration of Robert Astorino at Westchester County Airport and issued a new Request for Proposals to study economic and environmental issues in connection with the airport’s master plan. County Executive Latimer in announcing the release…

Read More

Westchester Medical Center to Open $230M Pavilion Later This Month

May 2019

VALHALLA—Officials with the Westchester Medical Center unveiled its $230-million new Ambulatory Care Pavilion on May 16th in advance of its opening later this month. The new, 280,000 square-foot, eight-story Ambulatory Care Pavilion, Westchester Medical Center’s new focal point for ambulatory care services will host its first patients later this month. The hospital, the flagship of…

Read More