NEW 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…
Read MoreBREWSTER—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 MoreRecently, 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 MoreWASHINGTON—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 MoreDo 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 MoreMONTGOMERY—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 MoreOSSINING—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 MoreRYE 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 MoreGREENWICH, 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 MoreWHITE PLAINS—Howard E. Greenberg, SIOR, president of Howard Properties, Ltd., of White Plains, reported that his firm had represented Kaufman Borgeest & Ryan, LLP in lease expansions in Valhalla and Calabasas, CA. In New York, KBR expanded its space at 200 Summit Lake Drive by 3,761 square feet to a total of 42, 013 square…
Read MoreYONKERS, NY—Simone Development Companies has been designated by the City of Yonkers as the redeveloper of the former Boyce Thompson Institute property into a new mixed-used complex. Simone’s plan for the $35-million redevelopment project includes offices for business and medical use on the upper floor of the building with the front and rear grade levels…
Read MoreLet’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 MoreJohn 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 MoreTARRYTOWN—On Thursday, April 9th, The Women’s Council of Realtors, Empire Westchester Chapter will present” The Midtown Men In Concert” at the Tarrytown Music Hall in Tarrytown. The concert will benefit the Wounded Warrior Project, which serves military service members, veterans, and their families who suffered physical or mental injuries or illness during their military service…
Read MoreWHITE PLAINS—A chief official with the joint venture partnership of Diversified Realty Advisors, LLC and SunCal that will be undertaking the massive redevelopment of the former General Motors minivan assembly plant site in Sleepy Hollow briefed more than 30 members of HGAR’s Commercial Investment Division on Feb. 19 on the status of the project. General…
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