NEW YORK—Lev Kimyagarov and Rubin Isak, former senior directors at Massey Knakal Realty Services/Cushman & Wakefield and Eastern Consolidated respectively, have Development Site Advisors, the only firm in New York City with a sole focus on the development site sector. “During our many years of working in the commercial real estate industry, we came to…
Read MoreELMSFORD—Earlier this month, the Greenburgh Town Board unanimously approved a site plan application to demolish the shuttered multiplex cinema at 320 Saw Mill River Road in Elmsford (across from Sam's Club) and to replace the building with a 75,711-square-foot Shoprite grocery store. The project, which was approved with a host of conditions, also includes an…
Read MoreYORKTOWN—The Yorktown Planning Board has approved a distribution center for Nestle Waters. The Planning Board’s approval earlier this month will allow Nestle Waters to bring an estimated 60 jobs to Yorktown, as well as end a longtime vacancy at the former Verizon building at 3775 Crompond Road. Nestle Waters has proposed renovating the 1.9-acre property’s…
Read MoreWHITE PLAINS—It appears the reopening of the Mid-Hudson economy, which was all but shut down back on March 22 when Gov. Andrew Cuomo put “New York on Pause” to prevent the spread of the Novel Coronavirus, is finally at hand. After a setback earlier this week, Westchester County Executive George Latimer and Orange County Executive…
Read MoreWASHINGTON— CoStar Group, Inc., a leading provider of commercial real estate information, analytics and online marketplaces, announced today that it plans to acquire Ten-X for $190 million in cash. Ten-X was launched in 2009 with the goal of providing a digital transaction platform for effectively liquidating the large volume of distressed commercial real estate assets…
Read MoreGOSHEN—Orange County Executive Steven Neuhaus revealed in his daily COVID-19 Update on Saturday that the governor’s office notified counties in the Mid-Hudson region that the region had not met one of the key metrics for reopening and that the state is “restarting the clock,” which could mean a delay in the region’s economy’s opening by…
Read MoreSite work has commenced on two of the largest warehouse-distribution facilities ever to be built in Orange County. The two build-to-suit developments in Montgomery for Amazon and Medline, involve nearly 2.3 million square feet of new construction totaling nearly $200 million in investment. Developer Bluewater Partners has commenced construction on the 1,015,740-square-foot distribution center for…
Read MoreLOS ANGELES—Most companies included in an analysis by commercial brokerage firm CBRE plan to take a gradual, cautious approach to bringing employees back to their workplaces as governments begin to lift restrictions tied to COVID-19. Roughly half of the 203 company operations that CBRE studied across the globe are implementing touchless technology to enhance cleanliness.…
Read MoreBy Maureen Halahan and Marc Baez During these uncertain times, the people of New York State have benefitted from Gov. Cuomo’s leadership and that of our federal, state and local officials while, once again, showing remarkable resilience. So, much has happened so quickly, and we applaud our elected representatives for taking decisive action to ensure…
Read MoreIndianapolis-based Simon Property Group announced on Tuesday that it plans to open its New York State retail properties, including Woodbury Common Premium Outlet in Central Valley and The Westchester in White Plains, on May 16. The planned opening of the two popular retail properties, along with other Simon retail properties on Long Island and upstate,…
Read MoreTHIELLS—Rockland County government has confirmed that longtime Rockland County Clerk Paul Piperato passed away on May 6 at the age of 61. At press time the cause of death was not known. Rockland County Executive Ed Day released the following statement on Piperato’s passing: “Today Rockland County mourns. The loss of County Clerk Paul Piperato…
Read MoreRYE BROOK—As New York State prepares to begin reopening its economy in the wake of the COVID-19 pandemic, the newly formed Business Council of Westchester’s Economic Recovery Task Force is forging ahead with developing a comprehensive plan to provide specific recovery measures and recommendations keyed to assisting Westchester’s diverse business and not-for-profit sectors. The Task…
Read MoreDuring these turbulent times, many lenders are suspending activity or taking very conservative views on ongoing business. Investors are in a panic, not knowing what will be their best path forward. Having navigated previous financial crises from the Savings and Loan scandal to 9/11 to the Great Recession and with more than 30 years of…
Read MoreMIDDLETOWN—Orange Bank & Trust Company reported on May 5 the successful processing of more than 700 small business loan applications for local business customers, totaling more than $100 million. The applications were funded under the federal Paycheck Protection Program (PPP), which was established in late March to help small businesses remain afloat and retain employees…
Read MoreWHITE PLAINS—U.S. Rep. Sean Patrick Maloney (D-NY-18) in a more than 50-minute online session hosted by the Hudson Gateway Association of Realtors recently offered his views on the COVID-19 crisis’ impacts on the real estate industry and how the federal government going forward will be assisting businesses in New York State affected by the pandemic.…
Read MoreExecutives with Better Homes and Gardens Rand Realty and affiliate Rand Commercial say that business is continuing during the health crisis caused by the Novel Coronavirus and that the social and economic impacts, while severe, will not cause a crash in the residential or commercial real estate markets in the Hudson Valley. Rand executives appeared…
Read MoreBUCHANAN—A day that many business leaders have dreaded and environmentalists have hailed will come to pass tomorrow morning (April 30). The Indian Point Unit 2 reactor will be shut down by control room operators at the nuclear power plant complex here by Entergy Corp. The Indian Point 2 reactor has been in operation for more…
Read MoreALBANY—The New York State Division of the Budget released a report on Saturday that estimates a $13.3-billion shortfall, or 14%, in revenue from the Fiscal Year 2021 Executive Budget Forecast released in January. The report estimates a $61-billion state revenue decline through Fiscal Year 2024 as a direct consequence of the COVID-19 pandemic. The 463-page…
Read MoreALBANY, NY—It appears New York State could allow the reopening of some business operations in the construction and manufacturing sectors in the upstate region beginning as early as after May 15. New York Gov. Andrew Cuomo in his daily COVID-19 update on Sunday April 26 announced the state may begin a phased restart of the…
Read MoreWHITE PLAINS—Westchester County Executive George Latimer received permission from Gov. Andrew Cuomo on April 21 to go forward with his plan to remove late fees for certain county residents and business for the late payment of their property taxes per the governor's Executive Order No. 202.22. Latimer said: “I want to thank Gov. Cuomo for…
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