Commercial

Pace U. Puts Briarcliff Campus, Office Condo on Market

June 25, 2015

WHITE PLAINS—Pace University, which is undertaking a $100-million redevelopment of its Pleasantville campus in Westchester County, has put its 37-acre Briarcliff Manor campus and its 82,000-square-foot office condominium in Downtown White Plains on the market for sale. Pace, which has its main campus in Manhattan and houses its Law School on a campus on North…

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GE Breaks Ground on Solar Installation for President Container

June 25, 2015

MIDDLETOWN—General Electric’s renewable energy business announced on May 29 that it would supply President Container Group, a manufacturer of corrugated shipping containers and point-of-purchase displays, with a new 2 MW ground-mounted solar installation outside its factory in Middletown, NY. The GE solar solution is expected to provide approximately 25% of PCG’s future energy needs. The…

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Orange Regional Begins Construction Work On $99M Office Building and Cancer Center

June 25, 2015

MIDDLETOWN—Orange Regional Medical Center has begun construction on a new 153,000 square foot, five-story medical office building and a 26,000 square foot, single-story cancer center at the hospital’s main campus. When completed in the fall of 2016, the $99-million project will help relocate many outpatient services currently provided at other off-campus locations into new, state-of-the-art…

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$466M Hospital Project Proposed in Poughkeepsie

June 25, 2015

POUGHKEEPSIE—Vassar Brothers Medical Center has announced it plans to build a new $466-million, 696,000-square-foot, seven-level inpatient pavilion at its hospital campus off of Route 9 here. A certificate of need has been filed with the New York State Department of Health. Contingent upon DOH’s expected approval by the end of this year, hospital officials state…

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Day Tells HGAR Rockland Economy Is Improving, But Not Out of the Woods

June 25, 2015

WEST NYACK—Rockland County Executive Ed Day told members of the Hudson Gateway Association of Realtors’ Commercial Investment Division that Rockland County’s finances, which were on the brink of default when he took office, are improving thanks to new management practices and other cost-cutting programs initiated since he took office last year. Day revealed to CID…

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Rye Playland Revitalization Finally Wins Approval

June 25, 2015

WHITE PLAINS—A little over a year since the Astorino administration’s preferred bidder withdrew its proposal to revitalize Rye Playland, Standard Amusements secured the unanimous approval to launch a $25-million redevelopment of the storied amusement park, By a vote of 17-0, the Westchester County Board of Legislators on June 15th approved Westchester County Executive Robert P.…

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Ivy Realty Acquires White Plains Plaza Office Towers

June 25, 2015

WHITE PLAINS—After failing to secure the office tower properties more than a decade ago, Ivy Realty of Greenwich, CT has recently acquired the 725,000-square-foot White Plains Plaza office complex here in a distressed sale. White Plains Plaza consists of two 15-story office buildings at One North Broadway and 445 Hamilton Ave. that adjoin Ivy’s 275…

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IRG Looks to Acquire Pfizer Campus in Pearl River

June 25, 2015

PEARL RIVER, NY—Progress is being made on the sale of one of the two pharmaceutical corporate campuses on the market in Rockland County. While a sale could close by late summer on a portion of the Pfizer complex in Pearl River in a sale and partial leaseback transaction, little progress has been made to find…

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Small Business Regulatory Watch Launched To Warn of Government-Created Pitfalls

May 7, 2015

New York State Senator Terrence P. Murphy, chairman of the State Administrative Rules and Regulations Commission, has established a small business regulatory watch to make fellow small business owners (he owns two) aware of rules that can adversely affect them. This was in response to New York consistently being ranked 49th on the Tax Foundation’s…

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Angry Orchard Coming To Orange County

May 7, 2015

WALDEN—Angry Orchard announced on April 23 a new home for research and development at a historic apple orchard in Walden. The cider makers at Angry Orchard have been exploring different apple varieties and crafting ciders for 20 years, and are looking forward to greatly expanding that experimentation and driving innovation at their own 60-acre orchard,…

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Piller USA to Build New Wallkill Facility

May 7, 2015

TOWN OF WALLKILL—The Orange County Partnership reported recently that Piller USA, Inc. plans to construct a new 24,000 square foot light industrial/office headquarters facility on Wes Warren Drive in the Town of Wallkill. Piller USA, Inc. has an existing workforce of 77 employees, with 40 employees based at its Middletown headquarters. Piller has more than…

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Bob Friedland Takes Helm Of Friedland Realty Advisors

May 7, 2015

HARRISON—A familiar face is once again at the helm of Friedland Realty Advisors—its founder Bob Friedland. Friedland started the company more than 40 years ago, growing it into a full-service firm with deep expertise across metro New York. Friedland Realty is charting a new course for growth with large investments in new office space, technologies,…

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MBIA Sells HQ ‘Airport Campus’ in Armonk

May 7, 2015

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…

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Gov. Cuomo Launches Upstate Revitalization Initiative

May 7, 2015

ALBANY—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…

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Orange County to Study KJ Annexation

May 7, 2015

GOSHEN—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…

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NYSCAR Conference to be Held on June 8-10

May 7, 2015

VERONA, 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…

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Green Team Marks 10th Anniversary

May 7, 2015

WARWICK— 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…

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Mixed-Use TOD Project Breaks Ground in Mount Vernon

April 1, 2015

MOUNT 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,…

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State Budget Includes Infrastructure Spending, Education, Ethics Reform

April 1, 2015

ALBANY—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…

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BOARDROOM Report: April 2015

April 1, 2015

Communications 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…

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