GOSHEN, NY—The $500-million LEGOLAND New York project proposed by Merlin Entertainments secured key approvals by a 4-1 vote of the Goshen Town Board on Thursday evening that put the development ever closer to breaking ground. The Town Board approved amendments to the town’s comprehensive plan and zoning law as well as the adoption of Local…
Read MoreMAMARONECK—Houlihan Lawrence Commercial Group reported recently it brokered the sale of two commercial retail spaces in Mamaroneck. The neighboring properties, located at 1137 and 1139 West Boston Post Road were sold for $2 million. Bryan Lanza was successful in representing the seller and owner of Elko Auto Repair, a mixed-use building, as well as the…
Read MoreNEW YORK—The timeliness of this year’s Global Real Estate Summit NYC is significant, as the event is set to take place amid skyrocketing foreign investment in U.S. residential real estate. According to a recently released report from the National Association of Realtors, growth within the commercial sector is promising, as well. Backed by the premier…
Read MoreWASHINGTON— Commercial real estate price growth in large markets is expected to flatten over the next year, but strong leasing demand and investor appetite in smaller markets should keep the sector on solid ground, according to the latest National Association of Realtors quarterly commercial real estate forecast (available at https://www.nar.realtor/reports/commercial-real-estate-outlook). Backed by the ongoing stretch…
Read MoreNEW YORK—While President Donald Trump and New York Gov. Andrew Cuomo have each professed the need for the federal and state governments, and the private sector to invest more in infrastructure, a proposal released by the Regional Plan Association to fix the New York City transit system may test the mettle of both men. The…
Read MoreGOSHEN—The Commercial Investment Division of the Hudson Gateway Association of Realtors, in cooperation with the Orange County Partnership, is holding a breakfast meeting on Thursday, Sept. 7 to discuss “The Future of Route 17.” The event will be held at the Harness Racing Museum & Hall of Fame at 240 Main St. and will begin…
Read MoreHYDE PARK—Marriott International has awarded a joint venture of Bellefield Development Partners and the Shaner Hotel Group a franchise for a 133-room Residence Inn to be built at the mixed-use Bellefield at Historic Hyde Park project here. The Hotel at Bellfield will be the first project to be constructed at the $500-million proposed Bellefield at…
Read MoreCENTRAL VALLEY—The owner of the highly popular Woodbury Common Premium Outlets here may have spent nearly $1 million recently to settle charges of engaging in anti competitive behavior, but it did not do so quietly. Simon Property Group after settling litigation with the New York State Attorney General over alleged anticompetitive tactics it employed in…
Read MoreYONKERS—Simone Development Companies reported two new leases totaling approximately 9,500 square feet of medical space at the Boyce Thompson Center, a recently completed 85,000-square-foot mixed-use center located in Northeast Yonkers. ColumbiaDoctors, a multi-specialty medical practice affiliated with Columbia University and New York-Presbyterian Hospital, has signed a long-term lease for 6,839 square feet of space on…
Read MoreWHITE PLAINS—The City of White Plains saw most of the major office leasing transactions in the second quarter, which paced overall activity in Westchester County, according to market reports released recently by a number of major commercial brokerage firms. Colliers International Group reports the City of White Plains followed a strong first-quarter performance with another…
Read MoreNEW YORK—The impending closure of the Indian Point nuclear power plants in Buchanan and other market forces could pose significant risks to the future energy supply of New York City and the Lower Hudson Valley, a recently released report warns. The New York Building Congress released a report earlier this week entitled “Electricity Outlook: Powering…
Read MoreHARRISON—Commercial brokerage firm RM Friedland reports that in the second quarter it closed deals valued at more than $15.1 million totaling 104,806 square feet of space in its market area in Westchester County and the Bronx. The firm reported that its second quarter activity totals included four sales with an aggregate value of more than…
Read MoreGOSHEN—The controversial $500-million LEGOLAND New York project secured a key approval on July 20th of its Final Environmental Impact Statement, a significant hurdle in its bid to win municipal approvals for the project so it can move forward later this year with construction of the theme park. Approximately 200 people packed the Orange County Emergency…
Read MoreSTAMFORD, CT—Reversing a troubling trend of high profile companies announcing headquarters moves outside of the state, the State of Connecticut got some welcome news recently that a growing technology company has decided to grow its headquarters operations in the Nutmeg State. Connecticut, which has seen high profile companies like GE and Aetna announce plans to…
Read MoreBEACON—Another shuttered correctional facility in the Hudson Valley is being marketed for alternative uses. The Empire State Development Corp. announced on July 7th it had issued a Request for Expressions of Interest to developers and investors to formulate plans for the reuse and redevelopment of the shuttered Beacon Correctional Facility in Dutchess County. A former…
Read MoreDOVER, NY—A massive energy project, which began its approval process nearly eight years ago, finally broke ground on Wednesday, June 28th on a 193-acre parcel of land on Route 22 here. Described as one of Dutchess County’s largest infrastructure projects in its history, Cricket Valley Energy, an affiliate of Advanced Power Services Inc. of Boston,…
Read MoreDOBBS FERRY, NY—Grocer Brooklyn Market is coming to Westchester County. The specialty retailer has filed for building permits and plans to open a new location at the new Rivertowns Square development off the Saw Mill River Parkway in Dobbs Ferry. The Williamsburg, Brooklyn-based retailer plans to open a new 18,000-square-foot store at the Rivertowns Square…
Read MoreNEW ROCHELLE—The New Rochelle City Council on Tuesday selected MacQuesten Development, LLC of Pelham as the winning bidder to develop a 27-story $110-million mixed-use building at the current site of the city’s Fire Station #1 at 45 Harrison St. New Rochelle Mayor Noam Bramson at a meeting of the Empire Chapter of the Women’s Council…
Read MoreWHITE PLAINS—Seth Pinsky, executive vice president with RXR Realty, which is building major multifamily projects in New Rochelle and Yonkers, believes that Westchester County is at a crossroads where it can either take advantage or miss out on the current investment climate. Pinsky, who was the guest speaker at the Hudson Gateway Association of Realtors’…
Read MoreWHITE PLAINS—While developers have stepped up and broken ground on huge projects downtown and have ambitious mixed-use plans in all corners of the city, the City of White Plains has begun seeking investor interest in what will likely be the most attractive and strategically located transit-oriented parcels anywhere in the city. The development to be…
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