POUGHKEEPSIE—The recent “Hudson Valley Visionaries: A Look into the Future of Commercial Real Estate” conference covered a gamut of groundbreaking topics and interesting and salient viewpoints from the expert panel. The following are some further comments/issues raised by the real estate “visionaries.” Developer Robert Weisz discussed some interesting trends in terms of tenant requirements, including…
Read MorePOUGHKEEPSIE—A panel of Hudson Valley “real estate visionaries” detailed the many demographic, technological and economic changes that are taking place now and are on the horizon for the commercial real estate industry in the region at a conference on April 12 staged by the Hudson Valley Economic Development Corp. and the Hudson Gateway Association of…
Read MoreWHITE PLAINS— Two veteran Westchester County developers—Martin Ginsburg and Robert Weinberg—pioneers and icons in their respective sectors are teaming up on a project that can finally provide a suitable gateway to Downtown White Plains from the White Plains Train station. The two developers are embarking on a redevelopment of a more than 500,00-square-foot office complex…
Read MoreGOSHEN—The political fallout from a corruption scandal continues to dog a $900-million power plant project in Orange County. Environmental group Riverkeeper and Orange County-based politicians have requested the New York State Department of Environmental Conservation either revoke or at least suspend state permits for the completed CPV Valley Energy Center project in Wawaynada. Riverkeeper sent…
Read MoreYONKERS—Urstadt Biddle Properties Inc. has acquired the Tanglewood Shopping Center complex on Central Park Avenue here. The Greenwich, CT-based equity REIT acquired the complex from a group of families that were descendants from the original developer of the property, according to James M. Aries, senior vice president, director of acquisitions for Urstadt Biddle. No financial…
Read MoreTARRYTOWN—While not saying that he intends to scrap any of the public-private partnerships between the county and vendors for the management of Rye Playland and Westchester County Airport, Westchester County Executive George Latimer told a business group gathering recently that both deals are being reviewed by his administration. Latimer, in a speech before trades groups…
Read MoreNEW YORK—Former Westchester Deputy County Executive Kevin Plunkett left his office at the Westchester County Office Building in White Plains in January and has re-surfaced in the executive suite at Bronx-based Simone Development Companies. Simone Development announced on March 28 that Plunkett, who served as Deputy County Executive for two terms in Republican Robert Astorino’s…
Read MoreNEW YORK—Goggle Inc., a major tenant at the property, has acquired the Chelsea Market here from Atlanta-based Jamestown for $2.4 billion. Jamestown announced the closing of the transaction for the nearly 1.2 million square-foot complex on Tuesday. The former Nabisco factory occupies a full block bound by Ninth and Tenth avenues between 15th and 16th…
Read MorePORT JERVIS—The New York State Department of Health has approved a Certificate of Need for a more than $40-million project at the Bon Secours Community Hospital here. Bon Secours parent Westchester Medical Center Health Network announced the state Department of Health approval on Wednesday. The new project at the border of Orange County and Pennsylvania…
Read MoreWAWAYANDA—The fallout from the corruption conviction of former Gov. Cuomo aide Joseph Percoco on Tuesday includes some officials from Orange County seeking an investigation or the outright revocation of permits granted for the $900-million CPV Valley Energy Center project here. Joseph Percoco, a former executive deputy secretary to Gov. Cuomo, was found guilty on Tuesday…
Read MorePOUGHKEEPSIE—The Hudson Gateway Association of Realtors, Inc. is co-sponsoring a groundbreaking conference with the Hudson Valley Economic Development Corp. entitled “Hudson Valley Visionaries: A Look into the Future of Commercial Real Estate” on Thursday, April 12th at the campus of Marist College in Poughkeepsie. The program will feature a panel of commercial real estate investors,…
Read MoreCommercial brokers fared well in the recently passed “tax reform bill”. Specifically, 1031 like kind exchanges were kept intact and middle-income housing tax credits were kept that encourages developers to build affordable housing in expensive housing markets. Still on the drawing board is the ADA Education and Reform Act (2018). The original Americans with Disabilities…
Read MoreNEW ROCHELLE—In his State of the City address on March 1, New Rochelle Mayor Noam Bramson announced that one $200-million downtown high-rise project is moving forward, and also revealed for the first time another three major high-rise mixed-use high-rise developments for the downtown district. The four developments, when completed, will add well in excess of…
Read MoreNEW ROCHELLE—Another major mixed-use high-rise residential project is moving forward here. New Rochelle Mayor Noam Bramson announced at a business conference on Wednesday that RXR Realty will soon be presenting plans to the city for the long-anticipated development at Church and Division streets. Mayor Bramson and officials with RXR Realty, the master developer for the…
Read MoreGOSHEN—The Orange County Partnership reports that it is leading a coalition that includes the Orange County Citizens Foundation and the Sullivan County Partnership for Economic Development in trying to have New York State fund necessary traffic improvements on Route 17 to alleviate congestion and facilitate economic development and growth. The three organizations are promoting an…
Read MoreNEW YORK—The tremendous success of international air service by Norwegian Airlines at Stewart International Airport in Orange County has prompted the Port Authority to expand services at the airport based in New Windsor in Orange County. Stewart International Airport will undergo a major expansion with the addition of a $30-million permanent U.S. Customs inspection area…
Read MoreNEW YORK—JPMorgan Chase announced plans on Feb. 21 to build a new 2.5-million-square-foot headquarters building at the site of its current headquarters location at 270 Park Ave. in Midtown Manhattan. The plan, if approved, would be the first major project to be developed under the city’s Midtown East Rezoning plan that was approved last year.…
Read MoreWHITE PLAINS—WNBA team the New York Liberty has announced its new home for the 2018 season will be the Westchester County Center in White Plains. This is the first time in more than two decades that a professional sports league has called the Westchester County home. Westchester County Executive George Latimer said, “I am excited…
Read MoreWHITE PLAINS—Asian Legend, a modern Asian-inspired restaurant is coming to the City Center in downtown White Plains. The restaurant is expected to open in September 2018. The new 2,919-square foot restaurant at 23 Mamaroneck Ave. is the site of the former Asian Temptation space. The lease deal was announced by RHYS, a Stamford, CT-based commercial…
Read MoreNEW YORK CITY—Nasdaq reports it is relocating its global headquarters from Downtown Manhattan at One Liberty Plaza to its current Nasdaq MarketSite location at 4 Times Square. The stock exchange operator signed a 15-year, 145,000-square-foot lease at the 48-story, 1.8-million-square-foot tower building owned by the Durst Organization. The 10th floor will be home to a…
Read More