Commercial

GE Considers Westchester, But Winds Up Moving HQ to Boston

January 2016

  BOSTON—Although most likely a long shot, Westchester County officials were still disappointed when they learned that General Electric would not move its headquarters from Fairfield County across the New York State border to Westchester. GE officials reported on Jan. 13 that it would relocate its corporate headquarters from Fairfield, CT to Boston, MA. Perhaps…

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Westchester IDA, LDC Supported $842 Million in Projects in 2015

December 2015

WHITE PLAINS—Westchester County Executive Robert P. Astorino announced on Dec. 10th that 2015 was a banner year for the Westchester County Industrial Development Agency and the Local Development Corporation, which supported 14 projects with total private investment of more than $842 million. The IDA and LDC projects, which ranged from major residential buildings in downtown…

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Odell Talks Butterfield, Tilly Foster Farm And Brewster Bulldogs Professional Hockey

December 2015

CARMEL—The year 2015 saw some changes in Putnam County government, from Tourism Director Libby Pataki taking leave to manage her husband former New York Gov. George Pataki’s Presidential bid to Putnam Economic Development Director Meghan Taylor leaving the PEDC to take on a key regional post with the Empire State Development Corp. However, the county…

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March of Dimes Holds Real Estate Award Breakfast

December 2015

Nearly 650 members of the commercial real estate industry gathered at the March of Dimes Real Estate Award Breakfast to honor Acadia Realty Trust’s Kenneth F. Bernstein, President and CEO, with the coveted Real Estate Award. The event was held on November 13. Each year, the March of Dimes pays tribute to outstanding individuals and…

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Hudson Valley Loses Out on $500M Windfall

December 2015

Gov. Andrew Cuomo at the CFA Awards announcement last week in AlbanyMid-Hudson Secures Nearly $91M in State Funding Mid-Hudson Secures Nearly $91M in State Funding ALBANY—This may well prove the case that the Mid-Hudson is not considered upstate. While the Mid-Hudson region’s economy will surely benefit from the $90.4 million for 109 projects from Gov.…

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Governor to Announce Economic Development Awards Thursday

December 2015

ALBANY—Economic development officials and business leaders from across New York State will be arriving in Albany for Thursday’s announcement of the annual economic development awards. There is a lot at stake at this year’s competition among the state’s regional councils, including the Mid-Hudson Regional Economic Development Council, since Gov. Andrew Cuomo is expected to hand…

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Steel House Restaurant Sold To Mariners Harbor Owner

November 2015

KINGSTON—The historic Steel House restaurant in Kingston was recently purchased by Frank Guido who also operates Mariners Harbor in Highland, and Frank Guido’s Little Italy in Kingston. The deal was announced by John J. Lease Realtors, which brokered the transaction for the waterfront property at 800-100 Rondout Landing. The Cornell Steamboat Co. originally built the…

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$250M Legoland Project in Play in Orange County

November 2015

GOSHEN—Representatives of Legoland have confirmed that after being turned away by the Village of Haverstraw last month to build a $250-million Legoland Amusement Park there, the company is considering Orange County as a possible site. Orange County officials have been successful in attempting to persuade the developers of a $250-million Legoland–themed amusement park not to…

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Fortina Restaurant Signs Deal in Yonkers

November 2015

YONKERS—Simone Development Companies announced earlier this month that Fortina is coming to the Boyce Thompson Center, the new mixed-use center under construction in Northwest Yonkers.  Fortina, which has restaurants in Armonk, Rye Brook and recently opened a location in Stamford, CT has signed a lease for 5,605 square feet of space on the main level…

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Visionworks Opens at Post Road Plaza

November 2015

PELHAM MANOR—National eyewear retailer Visionworks recently celebrated the grand opening of a new 3,000-square-foot store at Post Road Plaza in the Village of Pelham Manor. Situated directly at the junction of U.S. 1, Pelham Parkway and the Hutchinson River Parkway, the 267,000-square-foot shopping center is exclusively leased and managed by North Plainfield, N.J.-based Levin Management.…

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Colliers International Named Agent For ARC Companies' Rye Building

November 2015

RYE—Colliers International has been retained by The ARC Companies as the exclusive leasing agent for its 180,000-square-foot, Class-A office building at 555 Theodore Fremd in Rye. The three-story property, which The ARC Companies acquired at the end of 2014, features a recently renovated, full-service cafeteria, fitness center, and a lobby with a stunning glass sculpture.…

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NYSCAR Group Honors Hudson Valley Dealmakers

November 2015

CHESTER—Outstanding achievements in local commercial real estate were recognized at the recent inaugural “Dealmaker” awards and mixer presented by the Hudson Valley chapter of the New York State Commercial Association of Realtors. The ceremony, held at the Sugarloaf Performing Arts Center, is the first annual awards ceremony created to celebrate exceptional achievements in local commercial…

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Robert Martin Co. Invests in Friedland Realty Firm

November 2015

HARRISON– Friedland Realty Advisors, a more than 40-year-old full-service commercial real estate firm, announced it had received a significant investment from Robert Martin Company, a real estate investment, development and management firm headquartered in Elmsford. Through the investment, Friedland Realty can now offer clients the combined expertise and resources of two of the longest-standing real…

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ROCKLAND: IRG’s Purchase of Pfizer Campus Closes

November 2015

PEARL RIVER—The sale of the Pfizer campus here to Industrial Realty Group, LLC closed on Nov. 19, IRG announced in a press statement. The Los Angeles, CA-based company stated that the early stages of its plan for the 200 acres it acquired envision a “dynamic mixed-use, multi-tenant campus.” No financial details on the transaction were…

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Chappaqua Crossing Set to Break Ground in 2016

November 2015

WHITE PLAINS—If all goes according to plan it will be more than 11 years from the time the developer of the former Reader’s Digest corporate headquarters in Chappaqua acquired the property in December 2004 until it turns its first shovel on its mixed-use project on the 114-acre campus in early 2016. The archives of Real…

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Developer Chides NY’s Approval Process

November 2015

WHITE PLAINS—For the majority of his recent presentation before HGAR’s Commercial Investment Division, developer Felix Charney kept to his word and was upbeat and at times humorous about his firm’s 11-year journey to obtain approvals and build a mixed-use development at the former Reader’s Digest headquarters in Chappaqua. However, he did lash out at New…

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Mack-Cali Announces Major Operational Strategy Shift

September 2015

EDISON, NJ—The new leadership of Mack-Cali Realty Corp. say the company will embark on a new direction that will focus on waterfront and transit-oriented office properties as well as luxury multi-family properties. In terms of the company’s suburban assets, which include holdings in Westchester County, the company intends to spend $20 million upgrading those properties.…

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Regeneron Expands Again At Landmark at Eastview

September 2015

TARRYTOWN—The latest lease expansion by Regeneron Pharmaceuticals Inc. will bring its overall presence at The Landmark at Eastview campus here to more than 1.1 million square feet. The rapidly growing biopharmaceutical firm signed a nine-year lease expansion for 116,200 square feet of space at the 1.4 million Landmark at Eastview office and R&D complex, which…

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DoubleTree by Hilton Nanuet Debuts

September 2015

NANUET—DoubleTree by Hilton debuted its newest New York offering on Aug. 27 with DoubleTree by Hilton Nanuet, a modern 156-room hotel located near the Village of Nyack. Previously a Comfort Inn and Suites, the hotel completed a multi-million dollar renovation that included a total redesign of the lobby, fully-updated guest rooms and revamped public areas.…

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