Commercial

Mark Your Calendar: Mid-Hudson County Leaders to Speak At March 23 Patterns Breakfast Panel

March 2016

POUGHKEEPSIE—Topics ranging from crime, unemployment, casino impacts, restructuring local governments, improving the region's urban areas and more are up for discussion when the elected leaders of Dutchess, Orange, Sullivan and Ulster counties join Hudson Valley Pattern for Progress at 7:45 a.m. Wednesday, March 23, at the Poughkeepsie Grand Hotel. The event will feature Dutchess County…

Read More

$230M Expansion at Westchester Medical Center to Begin in Spring

March 2016

WHITE PLAINS—The healthcare sector continues to drive economic growth in Westchester County. On Wednesday, March 2, a plan to build a $230-million Ambulatory Care Pavilion adjacent to the existing Westchester Medical Center was approved by the Westchester County Local Development Corp. It is the LDC’s largest deal since its official formation in April 2013. The…

Read More

11-Year Saga Finally Ends for Chappaqua Crossing

March 2016

CHAPPAQUA—A storyline that included a bankruptcy that changed everything, false hopes, staunch opposition, failed votes, litigation and in the end finally compromise ended with the groundbreaking of the controversial Chappaqua Crossing mixed-use project here. The approval process took 11 years to finish to get to the point where shovels went in the ground earlier this…

Read More

New $50M Cancer Center Opens at White Plains Hospital

February 2016

WHITE PLAINS—The impressive growth of the health care sector in Westchester County and the surrounding Hudson Valley continues. Last week, a host of political and business dignitaries were on hand for the official opening of the expanded Center for Cancer Care facility at White Plains Hospital. Chief hospital officials, along with cancer survivor and White…

Read More

Major Retail Properties Change Hands; More Deals to Come

February 2016

HGAR to Move HQ Offices in April WHITE PLAINS—While the talk of the real estate industry in the Hudson Valley has been the emergence of the multifamily sector as an economic engine driving growth in the Hudson Valley economy, in early 2016 it has been the retail sector that has grabbed the major headlines with…

Read More

Newburgh Federal Building Sold

February 2016

NEWBURGH—John J. Lease Realtors Commercial Division recently announced that it had sold the Newburgh Federal Building, which has been the home of the West End Post Office since 1940. The property traded for $950,000. The Federal Building at 460 Broadway is a landmark location in Newburgh The Federal Building was originally built by the Tarr…

Read More

Commercial Brokers Bullish on Market Prospects for 2016

February 2016

WHITE PLAINS—In what can only be described as “saving the best for last,” Hudson Valley commercial real estate brokers predicted the commercial markets will fare very well this year, fueled by increased tenant demand and surging health care and biotech sectors. The roundtable discussion presented by the Hudson Gateway Association of Realtors’ Commercial Investment Division…

Read More

Joseph Roberto Elected PEDC Chairman

February 2016

CARMEL—The Putnam Economic Development Corp. announced earlier this month that it had elected Joseph D. Roberto, president and CEO of PCSB Bank (formerly Putnam County Savings Bank), as its board’s new chairman. In addition, James Bates, Cathy Cassidy, James Copeland, Alana Mikhalevsky and Richard Weiss have joined the board, the PEDC announced. “Joe Roberto has…

Read More

City of Yonkers to Press State Lawmakers To Help Fund $2-Billion School Rebuild

February 2016

YONKERS—After a bid to implement a Public-Private Partnership structure to help finance a nearly $2-billion capital program failed some years back, the City of Yonkers is now looking to fund the much needed improvements to its aging school system via more conventional funding methods. The City of Yonkers and the Yonkers Public Schools announced on…

Read More

Construction Work to Finally Begin On Orange County Government Center

February 2016

GOSHEN—Construction work is now expected to begin in earnest very shortly on the redevelopment of the shuttered Orange County Government Center here. Orange County Executive Steve Neuhaus signed off on more than $52.2 million in contracts for the project. All winning bidders were the low bids for their respective work and will perform their services…

Read More

Commercial Real Estate Experts Predict Moderate Expansion, Easing Prices in 2016

February 2016

WASHINGTON— Despite various global and domestic hurdles hindering economic growth, steady job gains and stable leasing demand should help keep commercial real estate activity expanding in 2016, according to the authors of an annual report published jointly by Situs Real Estate Research Corporation (RERC), Deloitte and the National Association of Realtors. According to the report…

Read More

Westchester Bank Building Now 100% Leased

February 2016

WHITE PLAINS– Having successfully executed a strategic leasing program on behalf of ownership, Colliers International announced the signings of several new long-term leases and renewals in excess of 14,000 square feet. The newly renovated, 45,000-square-foot boutique office property located at 12 Water Street is now 100% leased. Senior Managing Director Ian Ceppos and Executive Managing…

Read More

New Rochelle Mayor Hints at Major Development Project in Works

February 2016

NEW ROCHELLE—It appears that a major development proposal—the first project to come before the city since a far-reaching rezoning of the downtown district was approved by the City Council in December—will come before the city in the near future. While details are sketchy, a mixed-use high-rise development project is in the works in Downtown New…

Read More

Klein Appointed Regional Manager At Houlihan Lawrence Commercial

February 2016

RYE BROOK—Houlihan Lawrence Commercial Real Estate Group, a division of Houlihan Lawrence, announced recently that veteran commercial real estate broker Garry Klein has been appointed Westchester regional manager. In this role, Klein will work closely with Director Thomas LaPerch in recruiting, marketing and sales operations in Westchester County. Klein has been involved in commercial real…

Read More

White Plains-Based Houlihan Parnes Celebrates 125 Years in Business

February 2016

WHITE PLAINS—Houlihan Parnes, Realtors, LLC, founded by Irish immigrant Daniel J. Houlihan in 1891, is celebrating its 125th anniversary this year. The family-owned privately-held company was originally founded as a carpentry and construction business, which evolved into property ownership and development and many related commercial service businesses. The firm is currently managed by James J.…

Read More

7 Renaissance Square White Plains Office Building Under Contract

February 2016

WHITE PLAINS—The ownership of 7 Renaissance Square, a 65,600-square-foot building that is part of the Ritz-Carlton, Westchester complex in Downtown White Plains is under contract to be sold. The building ownership—a joint venture partnership of SL Green Realty and Renaissance Partners, LLC— has agreed to sell the property for a gross sale price of $20.7…

Read More

Rental Development Pipeline Growing in Westchester

January 2016

WHITE PLAINS—The multifamily sector in Westchester County is getting stronger and the development pipeline for rental units is growing as developers hope to capture Millennials seeking housing in a live-work-play environment. With major projects under construction in White Plains, such as 55 Bank St., and in Yonkers along the Hudson River waterfront, as well as…

Read More

County Executive Astorino Meets With NYC Brokers

January 2016

NEW YORK—As part of an ongoing initiative to promote Westchester County as the “smart spot for business,” Westchester County Executive Robert P. Astorino recently met with a group commercial real estate brokers in Manhattan to tout the many benefits of doing business in Westchester. “I’m here today to tell you that Westchester is open for…

Read More