Commercial

HGAR’S Global Business Council Chair Participates in Global Business Summit in Belgium

January 2020

SCARSDALE—Emilce (Emi) Cacace, HGAR’s Global Business Council Chair, recently participated in the International Real Estate Federation’s (FIABCI) annual Global Business Summit in Ghent, Belgium. Cacace also serves as FIABCI’s Vice President of the World Council of Brokers. The summit, held in early December, featured guest speakers from the United Kingdom, France, Switzerland, Belgium, Finland, Nigeria,…

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HVEDC and Hudson Valley Chapter of NYSCAR Form Strategic Partnership

January 2020

GOSHEN—The Hudson Valley Economic Development Corporation and the Hudson Valley Chapter of the New York State Commercial Association of Realtors Inc. reported on Jan. 3 they had launched a strategic partnership to formalize and deepen the relationship between the organizations. As part of the partnership, HVEDC states it will expand communication of key economic development…

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Mid-Hudson Region Secures Nearly $66M in Regional Council Awards

December 2019

ALBANY—The Mid-Hudson Regional Economic Development Council’s string of consecutive designations as a “Top Performer” in the annual Consolidated Funding Application program was halted at three years. On Dec. 19, Gov. Andrew Cuomo announced that the Mid-Hudson was not among “Top Performers” for 2019, but would still receive $65.8 million that would support a total of…

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Mack-Cali to Sell Remaining Suburban NY/NJ Office Portfolio

December 2019

JERSEY CITY, NJ—The Board of Directors of Mack-Cali Realty Corp. has voted to sell the company’s 6.6-million-square-foot suburban office portfolio located in New York, New Jersey and Connecticut. The company’s sole office holding outside of New York City in New York State is the firm’s 1 Water St. office building in White Plains. The four-story…

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Orange County Partnership Wins Critical Court Ruling

December 2019

GOSHEN—In what has been a protracted and at times contentious battle that threatened its very existence, a New York State Supreme Court Judge recently sided with the Orange County Partnership in its legal dispute with the State Authority Budget Office. On Nov. 20, Orange County Supreme Court Judge Robert A. Onofry ruled that the Orange…

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Fordham RE Institute Holds Fireside Chat With Alum and Industry Veteran Gilmartin

December 2019

NEW YORK—Some of the real estate industry’s biggest names gathered for a night of cocktails and conversation when Fordham Real Estate Institute and MaryAnne Gilmartin, co-founder and CEO of L&L MAG, presented Heroes and Champions (+ One). The intimate, invite-only event, which was held at the University’s Lincoln Center campus last month, celebrated the third…

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New MBA White Paper Predicts Both Challenges, Opportunities for Commercial RE Market in 2020

December 2019

WASHINGTON—The Mortgage Bankers Association released a new white paper, “Where From Here?” on Dec. 10, which examined current economic trends and commercial/multifamily real estate market conditions, and summarized recent comprehensive data. According to the white paper, low interest rates, steady economic growth and stable market conditions have served as positive tailwinds for the commercial real…

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Westchester IDA Board Supports BioMed Realty’s Expansion Plan

December 2019

WHITE PLAINS—The Westchester County Industrial Development Agency granted approval to provide incentives for BioMed Realty to expand its Ardsley Park biotech campus in the Town of Greenburg with the renovation of 97,000 square feet of new state-of-the-art life sciences space in two buildings. The IDA Board voted on the BioMed Realty proposal at its Dec.…

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Amazon Signs Major Lease Deal in New York City

December 2019

NEW YORK—While the transaction pales in comparison to the failed Amazon HQ2 deal that was slated for Long Island City, Queens, the e-commerce giant did ink a major lease earlier this month in Manhattan. SL Green Realty Corp. reported on Dec. 9 Amazon had signed a new 335,408-square-foot lease at 410 Tenth Ave., previously known…

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Fordham University Buys Development Site

December 2019

NEW YORK—Cushman & Wakefield recently announced that the commercial brokerage firm had arranged the sale of 619 East Fordham Road, a 5,000-square-foot garage leased to Enterprise Rent A Car in the Bronx. Cushman & Wakefield’s Jonathan Squires, Addison Berniker, Michael Fioravanti, Josh Neustadter, and Shayne Soltan represented the seller, Six 19 Custom, LLC, in this…

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NY State Senators Join Call for $500M Route 17 Expansion

December 2019

WOODBURY—A group of three prominent New York State Senators joined members of the 17-Forward-86 coalition and local elected officials on Dec. 11 to show support for the growing campaign to widen Route 17 in Orange and Sullivan counties. New York State Senator James Skoufis, D-Hudson Valley; Senator Jen Metzger, D-Rosendale; and Senator Tim Kennedy, D-Buffalo,…

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DEP Adopts Final Updates to Watershed Regulations

December 2019

NEW YORK—The New York City Department of Environmental Protection recently announced the adoption of updates to its watershed regulations. The updates, which seek to protect water quality while easing the path to compliance for local homeowners and business owners, were finalized after several years of consultation with leaders from watershed towns and environmental advocates. “Many…

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Montefiore to Open Major Primary Care Facility in Elmsford

December 2019

ELMSFORD—In a major lease deal to close out 2019 in Westchester County, Montefiore Medical Center has signed a lease for 127,034 square feet of space at the Taxter Corporate Park here. The lease transaction was announced by James J. Houlihan and Andrew Greenspan, the principals of GHP Office Realty, LLC, the owner of the two-building…

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A Conversation with Bronx Borough President Ruben Diaz Jr.

December 2019

Bronx Economy Continues to Attract Significant Investment With the publication of Real Estate In-Depth’s first special section on the Bronx, we thought it appropriate that our readers learn first-hand from the borough’s chief executive—Bronx Borough President Ruben Diaz Jr.—on the state of the borough. There is a lot happening in this borough made famous by…

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Economists Say Recession Unlikely in 2020

December 2019

WASHINGTON—A group of top economists arrived at a consensus 2020 economic and real estate forecast recently at the National Association of Realtors first-ever Real Estate Forecast Summit. The economists who gathered at NAR's Washington, D.C. headquarters expect the U.S. economy to continue expanding next year while projecting real estate prices will rise and reiterating that…

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YIDA Reports Banner Year Inducing $851 Million in Private Investment

December 2019

YONKERS—It was a banner year for economic development in the City of Yonkers with the Yonkers Industrial Development Agency providing financial incentives to nearly a dozen projects representing a total private investment of $851 million. The developments supported by the YIDA are projected to create 2,246 new residential units, 105,430 square feet of retail and…

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College of New Rochelle Sold for $32 Million

December 2019

NEW ROCHELLE—The unfortunate tale of the troubled College of New Rochelle has officially come to an end after 115 years. The storied College of New Rochelle campus was sold at auction for $32 million to the Trustees of The Masonic Hall & Asylum Fund. The United States Bankruptcy Court approved the sale in a hearing…

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Houlihan Lawrence Commercial Forms Food, Beverage and Hospitality Group

December 2019

RYE BROOK—In recognition of this emerging sector, Houlihan Lawrence Commercial has announced it has formed a new Food, Beverage & Hospitality Group. Headed by Richard Tannebaum, the new group assists solo operators, franchisees, chains, restaurant groups, investors and property owners accomplish their real estate goals. Tannebaum, who has two decades of experience in real estate…

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Global R.E. Summit, NYC 2019, Nov. 4, 2019

November 2019

Dorothy Botsoe, Dorothy Jensen Realty Inc.   Mitch Roschelle, Partner, PwC Dean Foster, Founder DFA Intercultural Global Solutions, LLC, President, Dean Foster Global Cultures Luciane Serifovic, CEO & Founder, Luxian International Realty Global Market Highlights Panel: Federico Ranuzzi de'Bianchi, Principal Broker, Ranuzzi & Giordani Real Estate Agency; Raj Rajpal, Mortgage Consultant, Wells Fargo Home Mortgage;…

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Ashkenazy Makes Second Westchester Buy This Month; Acquires Larchmont Shopping Center for $35 Million

November 2019

The Ferndale Shopping Center, an 84,000-square-foot retail property in Larchmont, has been acquired by Ashkenazy Acquisition Corporation from Ten Grand Inc. at a price that exceeded $35 million. Earlier this month, the New York City-based privately-owned real estate investment firm acquired Vernon Hills Shopping Center, a 380,000-square-foot retail asset in Eastchester; Cushman & Wakefield also…

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