Commercial

Houlihan Lawrence Brokers Mixed-Use Property Sale

April 2015

MOUNT KISCO—Houlihan Lawrence Commercial Real Estate Group, a division of Houlihan Lawrence, reported recently it had completed the sale of a 16,500-square-foot property located at 179 East Main Street here. The sale was brokered by Michael Rackenberg of Houlihan Lawrence. Since acquiring the three-story property, the current owner has substantially improved the 5,500-square-foot ground floor…

Read More

Astorino Announces $25 Million Playland Redevelopment Deal

April 2015

WHITE PLAINS—Westchester County Executive Robert P. Astorino announced on April 14th that Standard Amusements invest $25 million in private money into Playland over the next five years. The designation of the New York City-based firm follows the departure last year of Sustainable Playland, which withdrew from consideration for the project last June. The $25-million investment…

Read More

FERC Approves $972 Million Gas Pipeline Expansion Project

April 2015

WASHINGTON, DC—The Federal Energy Regulatory Commission issued a certificate last month to Spectra Energy that authorizes the construction of the $972-million Algonquin Incremental Market Project. The controversial project was embraced by the region’s building trades, but met some opposition from environmental groups and local politicians. The Certificate of Public Convenience and Necessity for the expansion…

Read More

GATEWAY PERSPECTIVES: Field Trip to Green Chimneys

April 2015

The Board of Directors of the Hudson Gateway Association of Realtors usually meets once a month at one of the Association’s three office locations in White Plains, West Nyack, or Goshen. At the beginning of this year President Drew Kessler suggested that we do a “road trip” for one of the Directors meetings to Putnam…

Read More

The Loop Retail Project to Break Ground in June

April 2015

GOSHEN—The developer of The Loop Hudson Valley retail project in the Town of Newburgh told members of the Commercial Investment Division of the Hudson Gateway Association of Realtors that a groundbreaking for the massive project is scheduled in early June. Tom Wilder, a principal of The Wilder Companies of Boston, was the keynote speaker at…

Read More

Urstadt Biddle Confirms Sales Deal for Westchester Pavilion

April 2015

 WHITE PLAINS—Urstadt Biddle Properties Inc. of Greenwich, CT, the owner of the Westchester Pavilion shopping center here, has confirmed that it has signed a contract to sell the property to a subsidiary of homebuilder Lennar Corp. of Miami. The deal, first reported in the March edition of Real Estate In-Depth, will facilitate the redevelopment of…

Read More

Cuomo Appoints Vargas to Key Post

March 2015

ALBANY—New York Gov. Andrew M. Cuomo announced on March 9 the appointment of Aimee Vargas to Director of Downstate Intergovernmental Affairs. Vargas as the Director of Downstate Intergovernmental Affairs will be responsible for the Hudson Valley, New York City and Long Island. She previously oversaw regional affairs in the Hudson Valley and served as the…

Read More

Watchtower Acquires Brewster Industrial Property

March 2015

BREWSTER—CBRE Group’s Westchester/Fairfield County office announced earlier this month the sale of 39 Mount Ebo Road South, a 93,000-square-foot industrial property here to The Watchtower Bible and Tract Society of New York, Inc. for $6.1 million. CBRE represented the seller, IndCor Properties, which had acquired the property as part of a portfolio acquisition with Watson…

Read More

The Business Community’s Impact on Putnam’s Economy

March 2015

Recently, after input from local businesses led by representatives of the Greater Mahopac-Carmel Chamber of Commerce, The Carmel/Kent Chamber of Commerce and the Putnam County Chambers of Commerce, the Town of Carmel decided to reconsider a proposal that would have enacted a sign ordinance that many feel would have severely hampered commerce in the town.…

Read More

Survey: Millennials Lead All Recent Buyers

March 2015

WASHINGTON—Despite the economic and financial challenges young adults have braved since the recession, the millennial generation represented the largest share of recent buyers, according to the 2015 National Association of Realtors Home Buyer and Seller Generational Trends study released earlier this month. The survey additionally found that an overwhelming majority of buyers search for homes…

Read More

Tech Talk: How to Optimize Your Windows Computer

March 2015

Do you know what the abbreviation “IoT” commonly stands for these days? If so, I congratulate and award you with a virtual gold star. If not, I want you to know (and remember) that “IoT” is the abbreviation for the term “Internet of Things” What does the term “Internet of Things” actually mean? Ugh, I…

Read More

Dollar General To Build Montgomery Store

March 2015

MONTGOMERY—John J. Lease Realtors reported that Dollar General will be building a 9,100-square-foot store on 2.6 acres in Montgomery on Route 17K. Land was purchased from Priscilla Haber for $175,000. She was represented by local real estate Associate Broker, Louise M. DiChiaro of John J. Lease Realtors. The store will be providing jobs for approximately…

Read More

Ossining Seeks Developer for Historic Building on Main Street

March 2015

OSSINING—The Village of Ossining announced earlier this month it is seeking a qualified developer to collaborate with the village in the renovation and re-use of a National Register-listed historic building located at the intersection of Main Street and Route 9. A request for proposals has been issued for the village-owned property at 200 Main St.,…

Read More

The Business Council Moves HQ to 800 Westchester Ave. Building

March 2015

RYE BROOK—The Business Council of Westchester reported recently it had moved its headquarters from Corporate Park Drive in White Plains to 800 Westchester Ave. in Rye Brook where it is leasing approximately 4,400 square feet of office space. “We are very excited to have our new headquarters at one of Westchester’s finest office buildings. The…

Read More

Cottle Named Manager of NGKF’s Westchester/Fairfield Offices

March 2015

GREENWICH, CT—Michael Cottle has joined Newmark Grubb Knight Frank as executive vice president and manager of the Fairfield County, CT, and Westchester County, offices, bringing 25 years of institutional and asset management experience covering 10 million square feet and $1.4 billon in capitalization to assist NGKF brokers in the market. In this newly created role,…

Read More

Guest Opinion: Just the Facts About PILOTs

March 2015

Let’s set the record straight regarding Payments in Lieu of Taxes (PILOTs) in Orange County.  PILOTs actually ease the tax burden on every taxpayer and school district in our county. Without PILOTs we would be left with open unused fields, less taxes and no jobs.  Large companies interested in expanding in Orange County have the…

Read More

Spotlight on: A Commercial ‘Foodie’ In the Making

March 2015

John Lavelle, Associate Broker with R.J. Smith Realty in Pine Bush, has had his hand in some delicious deals throughout the Hudson Valley. He recently finished working on a deal to bring United Natural Foods Inc. to Orange County. The natural foods wholesaler supplies food products to high-end grocery stores like Whole Foods, and is…

Read More