Commercial

Gov. Cuomo, Mayor de Blasio Proposed 10-Point MTA Reform Plan

February 2019

NEW YORK—Governor Andrew Cuomo and New York City Mayor Bill de Blasio, who have historically been at odds on a host of issues, agree on one thing—the Metropolitan Transportation Agency needs to be reformed. On Feb. 26, Cuomo and de Blasio released a 10-point plan to reform the MTA and to create sustained funding streams…

Read More

Nyack College Postpones Rockland Campus Shutdown

February 2019

NANUET—Nyack College has announced it will postpone the planned relocation of its undergraduate programs from its campus in Rockland County to Lower Manhattan until early 2020. In an announcement to students on the college’s website, Nyack College President Michael G. Scales stated that the college had delayed the planned relocation of its undergraduate program to…

Read More

Entergy Looking to Sell Indian Point by End of 2019

February 2019

BUCHANAN—Until recently, the major energy issue facing Westchester County and the Hudson Valley/New York City region was the impending closure of the nuclear reactors at Indian Point in the next two years. However, that was before Con Edison announced its plan to impose a moratorium on new natural gas connections for most of the county…

Read More

Local Mortgage Firm Has Grand Expansion Plans

February 2019

WHITE PLAINS—A.S.A.P. Mortgage, which is headquartered in Cortland Manor, has embarked on a significant expansion effort of late that has included the opening of new offices in New York City and White Plains and the launch of a new commercial finance division. In addition, the company reports its intent to open additional locations in the…

Read More

TD Ameritrade Building in Scarsdale Changes Hands for $10.3 Million

February 2019

SCARSDALE—New York City-based Helmsley Spear, LLC, reported on Feb. 13 that the firm brokered the sale of the TD Ameritrade building in Scarsdale. Located at 880 Central Park Ave., the TD Ameritrade building is a two-story structure comprising 5,000 square feet with TD Ameritrade Bank as the sole tenant under a 12-year lease. The transaction…

Read More

Simone Granted Incentives for Montefiore Medical Project

February 2019

WHITE PLAINS—Simone Healthcare Development recently secured a resolution of intent from the Westchester County Industrial Development Agency to provide nearly $1.75 million in incentives for its $61-million plan to redevelop a vacant office building in Harrison into a pediatric care ambulatory facility for Montefiore Medical Center. Simone Healthcare, an affiliate of Simone Development Companies, plans…

Read More

HGAR's Commercial & Investment Division to Tackle Natural Gas Moratorium’s Impacts

February 2019

WHITE PLAINS—Con Edison has officially announced its intention to impose a moratorium on new natural gas connection service for a majority of Westchester County. The gas utility will stop accepting applications for new natural gas service on March 15. Join the HGAR Commercial and Investment Division on Thursday, Feb. 28th for an informative morning discussion…

Read More

GATEWAY PERSPECTIVES: Dark Clouds Can Lead to New Opportunities

February 2019

2018 was a solid year for real estate in the lower Hudson Valley. However, as the year progressed, we did experience slowly declining sales numbers. Whether this had to do with prospective purchasers having concerns about the SALT deduction limits is probably too early to tell, and we should have a better feel when we…

Read More

Robison Energy Moving HQ to Port Chester

February 2019

PORT CHESTER—Robison Energy, LLC is relocating its corporate headquarters from Elmsford to the Gateway Plaza office building in Port Chester. The long-term lease deal for approximately 11,000 square feet of space at Gateway Plaza (55 South Main St.) in Port Chester was announced by Jamie Schwartz, executive vice president of GHP Office Realty, LLC, an…

Read More

Clarkstown Forms Committee to Develop Pro-Growth Plan

February 2019

NEW CITY—Clarkstown Supervisor George Hoehmann announced on Feb. 4 the creation of the Clarkstown Business and Economic Development Advisory Committee that is now charged with developing a strategic, pro-growth plan for the town. The committee will focus initially on studying continued shifts occurring in the town’s vitally important retail sector and ways the town can…

Read More

Commercial Brokers Expecting Another Good Year for Region

February 2019

WHITE PLAINS—A record crowd of approximately 150 real estate professionals attended the annual Commercial Broker Roundtable presented by the Hudson Gateway Association of Realtors’ Commercial Investment Division on Jan. 23. The panel of veteran commercial brokers who do business in the lower Hudson Valley and New York metro region, were upbeat at the session held…

Read More

Westchester County Association, HVEDC Agree to Merger

January 2019

WHITE PLAINS—The storied Westchester County Association, which has been one of the county’s leading business advocacy organizations for nearly 70 years, says it intends to merge operations with regional economic development agency the Hudson Valley Economic Development Corp. The deal between the two organizations is intended to create a regional economic development and business advocacy…

Read More

Westchester Office Properties Ended the Year on a High Note

January 2019

RYE BROOK—Strong economic fundamentals in the U.S., the greater New York City area, and in Westchester County continue to drive a healthy commercial real estate market, according to a new fourth quarter report released recently by Houlihan Lawrence’s Commercial Group. “Widespread fears about the health of the economy have proven unfounded in the face of…

Read More

Empire City Casino Changes Hands to MGM Resorts in $850M Deal

January 2019

YONKERS—The era of the Rooney family at Yonkers Raceway came to an end on Jan. 29 with the closing of the $850-million sale of Empire City Casino and Yonkers Raceway to MGM Resorts International. The Rooney family acquired the storied Yonkers Raceway property in 1972 and opened the highly successful Empire City Casino in October…

Read More