Commercial

Houlihan Lawrence Commercial Markets $100M Hong Kong Property for Maryknoll Missionaries

May 24, 2016

RYE BROOK—Thomas LaPerch believes that the international listing of Maryknoll Missionaries stately Stanley Hilltop waterfront property in Hong Kong will raise Houlihan Lawrence Commercial Group’s standing in the commercial brokerage sector to a new level. LaPerch, director and associate broker with Houlihan Lawrence Commercial Group, told Real Estate In-Depth in late April that the Stanley…

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GM Redevelopment Finally Breaks Ground

May 19, 2016

SLEEPY HOLLOW—In what Village of Sleepy Hollow Mayor Ken Wray described as simply “a defining moment for our village, a real turning point” and a break with its industrial past, the developers of The Edge-on-Hudson, a planned more than $1-billion mixed-use development, broke ground on the former site of the General Motors assembly plant here.…

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IBM Plans to Vacate, Sell Somers Campus

May 19, 2016

SOMERS—IBM is planning to relocate its workforce at its Somers complex to North Castle by the spring of 2017 and put that multi-building 1.2-million-square-foot complex on more than 700 acres on the market for sale. The company plans to also undertake capital improvements to modernize its original corporate headquarters building of approximately 420,000 square feet…

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Orange County IDA Approves Incentives For Controversial Matrix Project

May 19, 2016

NEW WINDSOR—The third time was the charm for Matrix Development Group to secure more than $10 million in incentives for its major distribution project in the Town of Newburgh. The project was granted the incentives despite the objections of the local building trades who charged that the project continues to violate the Orange County Industrial…

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PUTNAM POSTING: Latest CFA Process Stresses Downtown Development, Community Involvement

May 13, 2016

Through the New York State Consolidated Funding Application (CFA), a single application for multiple sources of state funding, New York State is soliciting grant applications for projects that advance the priorities of the Regional Economic Development Councils (REDC). Governor Andrew Cuomo has emphasized infrastructure in his budget message and a CFA priority this year seems…

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$60M French American School Project Still in ‘Limbo’

May 12, 2016

WHITE PLAINS—Despite a blistering rebuke of the actions by the White Plains Common Council over what has been a five-year long approval process, the $60-million French American School of New York development project here is still nowhere near breaking ground. New York State Supreme Court Judge Joan Lefkowitz in her recent ruling described the project…

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Rye Playland Saga Ends With New Management Deal

May 3, 2016

WHITE PLAINS—A six-year process to form a public-private partnership to save the storied, but money-losing Rye Playland amusement park finally came to an end on May 2nd when the Westchester County Board of Legislators overwhelmingly approved a deal with New York City-based Standard Amusements. The Board of Legislators voted 13-4 in favor of the deal…

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IDA Delays Vote Again on Major Project Based on Complaints Over Labor Policy

April 27, 2016

NEW WINDSOR—The developer of a major warehouse distribution project in the Town of Newburgh will have to wait until next month to possibly secure millions of dollars in incentives for its $40-million facility that will include anchor tenant AmerisourceBergen. The Orange County Industrial Development Agency delayed two votes on granting incentives to the major distribution…

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Touro College to Open New Dental School in Hawthorne

April 27, 2016

HAWTHORNE—Touro College announced recently that it will open later this year the first new dental school in almost 50 years at an office building adjacent to the New York Medical College’s Grasslands campus. The Touro College of Dental Medicine, which will open to its first class this fall, will reportedly occupy approximately 100,000 square feet…

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Westchester Medical Center Network Expands to Kingston Region

April 25, 2016

KINGSTON—The Westchester Medical Center Health Network, the parent company of the Westchester Medical Center in Valhalla, is expanding its reach to the far reaches of the Hudson Valley. On March 30, HealthAlliance of the Hudson Valley announced it had joined the WMCHealth network. HealthAlliance of the Hudson Valley is the alignment of HealthAlliance Hospital: Mary’s…

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CID Holds Hudson Valley Economic Development Roundtable

April 21, 2016

WHITE PLAINS—The similarities and stark differences that exist in the four county jurisdiction of the Hudson Gateway Association of Realtors were clearly evident in the presentations by chief economic development officials from Westchester, Rockland, Orange and Putnam counties at the recent Commercial Investment Division meeting held at the new HGAR offices here. More than 60…

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Westchester’s IDA, LDC Assistance Fueled $842M In Multifamily, Bioscience Projects

April 20, 2016

WHITE PLAINS—2015 was a record year for the county’s Industrial Development Agency (IDA) and Local Development Corporation, which supported 14 projects that will produce a combined total private investment of more than $842 million. While ranging from small to large, a lion’s share of the projects that received financial incentives from Westchester County involved mixed-use…

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Westchester Markets the County As The ‘Smart’ Place to do Business

April 20, 2016

WHITE PLAINS—Westchester County’s economic development programs are geared to promoting its prime location, its quality of life and its highly educated workforce as just some of the reasons why it is the “Smart” place to do business. Westchester County is continuing its “That’s Westchester Smart” marketing and advertising campaign that is focused on both attracting…

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Orange County Takes Back Camp LaGuardia Property

April 18, 2016

CHESTER—Orange County’s attempt to bring new development to the former New York City homeless center grounds at Camp LaGuardia has taken a radical turn. Orange County Executive Steve Neuhaus revealed in his State of the County Address a few weeks ago that he was looking to take control once again of the approximately 260-acre camp…

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HGAR Moves Into New Headquarters

April 18, 2016

WHITE PLAINS—The long awaited move of the Hudson Gateway Association of Realtors from its offices at the soon to be demolished Westchester Pavilion mall to offices down the street at the Source at White Plains complex was completed earlier this month. Boxes were packed and movers and staff completed the office move on Friday, April…

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Mark Your Calendar, HGAR CID on the Road on May 19th

April 14, 2016

The Hudson Gateway Association of Realtors Commercial Investment Division in partnership with the Rockland Economic Development Corp., will be staging an event at the Pearl River property owned by Industrial Realty Group on May 19. California-based IRG purchased a majority of the Pfizer complex late last year. Officials with IRG are expected to brief CID…

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Westchester Library System Signs 14,000 SF Lease Deal in Elmsford

April 14, 2016

ELMSFORD—Keystone Property Group announced recently a long-term 14,316-square-foot lease with the Westchester Library System at 570 Taxter Road in Elmsford. The lease comprises the property’s entire fourth floor and a portion of the first floor. 570 Taxter is a six-story office building located near the intersection of Routes 87 and 287. The full-glass building features…

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CE Touts Biomed, Healthcare and Multifamily Growth in Westchester

April 6, 2016

A Conversation with County Executive Robert Astorino WHITE PLAINS—The prospects for the county’s economy and specifically its commercial real estate market have not been this bright in decades. The county’s biotech and healthcare industries are driving growth and creating new jobs in the construction trades as well as in their respective sectors. Combine that with…

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