ARMONK–Cushman & Wakefield announced the sale of the former headquarters of MBIA Inc. at 113 King St. here on May 6th. The two-building Class-A office campus that totals more than 300,000 square feet on 38 acres reportedly sold for $23 million. Cushman & Wakefield represented the seller, MBIA, in the sale to a joint venture…
Read MoreALBANY—Governor Andrew M. Cuomo announced on April 30th the launch of two major economic development programs—the Upstate Revitalization Initiative and Round V of the Regional Economic Development Councils—which kicked off the 2015 competitions for $1.5 billion and up to $750 million in state economic development resources, respectfully. “New York’s Regional Councils have transformed our state’s…
Read MoreGOSHEN—The Orange County Legislature on May 7th passed a supplemental appropriation of $200,000 to the 2015 budget by a 230-1 vote, which will allow planning consultants to be hired to study the potential impact of a controversial proposed 507-acre annexation of land in the Town of Monroe by the Village of Kiryas Joel. “I’m encouraged…
Read MoreVERONA, NY–The 14th annual “New York State Commercial Real Estate Conference” is to be held June 8th through 10th at the Turning Stone Resort and Casino here. This year’s event is presented by The Realtors Commercial Alliance consisting of The New York State Commercial Association of Realtors (NYSCAR) along with The Society of Exchange Counselors…
Read MoreWARWICK— Geoff Green, principal broker and founder of the Green Team Home Selling System, reported that his firm is celebrating 10 years in business. The Green Team Home Selling System, a full service real estate brokerage firm is headquartered at 7 Main St. in the Village of Warwick, which has grown to now have a…
Read MoreMOUNT VERNON– MacQuesten Development LLC and New York State Homes and Community Renewal held a groundbreaking ceremony late last month on a new $31.5-million mixed-use Transit-Oriented Development for downtown Mount Vernon. The Modern, to be built on an underutilized former industrial area, will include 80 affordable rental apartments and approximately 9,400 square feet of commercial,…
Read MoreALBANY—The New York State Legislature passed a $142-billion budget on-time budget on March 30 that includes some controversial education reform, campaign finance reform, as well as enhanced infrastructure spending thanks to $5.4-billion in bank court settlement revenue. For the real estate industry, Gov. Cuomo earmarked some of the one-time bank funds for financing of the…
Read MoreCommunications and Member Services Director of Communications Mary Prenon provided the report from the Communications Council, advising that a new HGAR Member Perks Program has been launched. Enrollment is free and the program provides access to exclusive offers and discounts from popular merchants. Approximately 400 people have already signed up. Prenon further advised that the…
Read MoreWHITE PLAINS—Westchester County government is using the results of a far-reaching survey that revealed the county’s inherent strengths and weaknesses when it comes to attracting and retaining businesses here. While some of the results were far from surprising, the survey did uncover important issues business and civic leaders share, as well as key differences among…
Read MoreWHITE PLAINS—2014 was a banner year for the Westchester County Industrial Development Agency (IDA) and Local Development Corporation (LDC) which provided financing and incentives for 20 projects whose private investment totaled more than $560 million and created or retained more than 4,600 permanent and construction jobs. The 16 IDA projects, which included residential, retail and…
Read MoreAt the recent grand opening of The Rockland County Association for Learning Disabilities, Rand Commercial Services’ Mark Glasel and Paul Adler were given an award for successfully leasing space and coordinating a build out at 345 N. Main Street, New City. The firm represented both the landlord and tenant in the transaction. From left, Glasel,…
Read MoreMIDDLETOWN— Anna Gibbs, CEO/Team Leader for Keller Williams Realty Hudson Valley United, announced earlier this month that the company based in Middletown was launching a commercial sales division. The main segments of this commercial division will include real estate professionals engaged in the following services: office buildings, industrial/warehouse, retail, restaurant, multi-family, land and other miscellaneous…
Read MoreMOUNT 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 MoreWHITE 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 MoreNEW YORK—Blackstone and Wells Fargo announced on April 10 that they had signed agreements to purchase most of the assets of GE Capital Real Estate in a transaction valued at approximately $23 billion. Fairfield, CT-based General Electric (GE) in a separate announcement on April 10th stated that it has letters of intent with other buyers…
Read MoreWASHINGTON, 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 MoreThe 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 MoreGOSHEN—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 MoreWHITE 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 MoreALBANY—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…
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