Commercial

UPDATE: Town's Rejection Puts $100M Project in Jeopardy

May 2018

MIDDLETOWN—A rebuff by the Town Board of Hamptonburgh has Orange County political leaders and economic development officials scrambling to save a mega-warehouse project valued at $100 million. Medline, a health care distribution company based in Middletown, had hoped to build a 1.2-million-square-foot warehouse project in the Town of Hamptonburgh. However, members of the Town Board…

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RPA Proposes $71B Plan to Merge Metro-North, LIRR and NJ Transit

May 2018

Talk about great timing! Newly appointed MTA Metro-North President Catherine Rinaldi will likely be asked what she thinks about a recently released proposal by the Regional Plan Association, pegged at $71.4- billion, to merge the MTA’s Metro-North, Long Island Rail Road and New Jersey Transit rail lines. The merged regional commuter rail network, named the…

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Iconic Downtown White Plains Building to be Sold

April 2018

WHITE PLAINS—A storied building that has been a staple for nearly a century in Downtown White Plains is being put on the market for sale. The YMCA of Central and Northern Westchester has decided to put the White Plains YMCA complex on Mamaroneck Ave. on the market for sale. Officials with the YMCA said that…

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Cappelli Returns to Build Once Again in New Rochelle

April 2018

NEW ROCHELLE—Louis Cappelli, the developer of New Roc City and Trump Plaza in New Rochelle, has returned to the City of New Rochelle. Executives of the Cappelli Organization joined with New Rochelle city officials on April 25th for the groundbreaking of The Standard, a new 14-story residential building located on the site of the former…

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Hudson Valley Visionaries: A Look into the Future of Commercial Real Estate, April 12, 2018

April 2018

Hudson Valley Visionary Conference Richard Haggerty, HGAR CEO Marist College Executive Vice President Geoffrey L. Brackett Larry Gottlieb, Hudson Valley Economic Development Corp., CEO From lef, Barry Kramer, HGAR President; Richard Haggert, HGAR CEO; Tim Smith, regional vice president, Crown Castle Fiber; Sara Jones-Maturo, President, RM Friedland; Robert Weisz, CEO, RPW Group; Larry Gottlieb, Hudson…

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A Conversation With: HVEDC President & CEO Laurence P. Gottlieb

April 2018

Real Estate In-Depth recently sat down with Laurence P. Gottlieb, president and CEO of the Hudson Valley Economic Development Corporation based in Goshen, to discuss the key strengths of the Hudson Valley region in advance of the “Hudson Valley Visionaries: A Look into the Future of Commercial Real Estate” conference on April 12. The conference…

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‘Live, Work, Play' Model is Alive And Well in Westchester County

April 2018

NEW YORK—In its second major real estate event in April, the Hudson Gateway Association of Realtors hosted a panel discussion focused on Westchester County at the 10th annual New York City Real Estate Expo held on April 18 at the New York Hilton Midtown. The afternoon program entitled “Westchester—Opportunity Knocks” was moderated by Westchester County…

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Key Takeaways From HV Visionaries Conference

April 2018

POUGHKEEPSIE—The recent “Hudson Valley Visionaries: A Look into the Future of Commercial Real Estate” conference covered a gamut of groundbreaking topics and interesting and salient viewpoints from the expert panel. The following are some further comments/issues raised by the real estate “visionaries.” Developer Robert Weisz discussed some interesting trends in terms of tenant requirements, including…

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Ginsburg-Robert Martin to Redevelop Key Downtown White Plains Complex

April 2018

WHITE PLAINS— Two veteran Westchester County developers—Martin Ginsburg and Robert Weinberg—pioneers and icons in their respective sectors are teaming up on a project that can finally provide a suitable gateway to Downtown White Plains from the White Plains Train station. The two developers are embarking on a redevelopment of a more than 500,00-square-foot office complex…

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Riverkeeper, Orange County Politicos Ask DEC to Pull Power Plant’s Permits

April 2018

GOSHEN—The political fallout from a corruption scandal continues to dog a $900-million power plant project in Orange County. Environmental group Riverkeeper and Orange County-based politicians have requested the New York State Department of Environmental Conservation either revoke or at least suspend state permits for the completed CPV Valley Energy Center project in Wawaynada. Riverkeeper sent…

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Urstadt Biddle Acquires Tanglewood Shopping Center in Yonkers

April 2018

YONKERS—Urstadt Biddle Properties Inc. has acquired the Tanglewood Shopping Center complex on Central Park Avenue here. The Greenwich, CT-based equity REIT acquired the complex from a group of families that were descendants from the original developer of the property, according to James M. Aries, senior vice president, director of acquisitions for Urstadt Biddle. No financial…

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Latimer Administration, Legislators Reviewing Privatization Deals

March 2018

TARRYTOWN—While not saying that he intends to scrap any of the public-private partnerships between the county and vendors for the management of Rye Playland and Westchester County Airport, Westchester County Executive George Latimer told a business group gathering recently that both deals are being reviewed by his administration. Latimer, in a speech before trades groups…

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Former Westchester Deputy County Executive Joins Simone Development

March 2018

NEW YORK—Former Westchester Deputy County Executive Kevin Plunkett left his office at the Westchester County Office Building in White Plains in January and has re-surfaced in the executive suite at Bronx-based Simone Development Companies. Simone Development announced on March 28 that Plunkett, who served as Deputy County Executive for two terms in Republican Robert Astorino’s…

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New York City’s Chelsea Market Trades for $2.4 Billion

March 2018

NEW YORK—Goggle Inc., a major tenant at the property, has acquired the Chelsea Market here from Atlanta-based Jamestown for $2.4 billion. Jamestown announced the closing of the transaction for the nearly 1.2 million square-foot complex on Tuesday. The former Nabisco factory occupies a full block bound by Ninth and Tenth avenues between 15th and 16th…

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Key State Approval Secured for $40M Hospital Project in Port Jervis

March 2018

PORT JERVIS—The New York State Department of Health has approved a Certificate of Need for a more than $40-million project at the Bon Secours Community Hospital here. Bon Secours parent Westchester Medical Center Health Network announced the state Department of Health approval on Wednesday. The new project at the border of Orange County and Pennsylvania…

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Corruption Conviction Prompts Neuhaus to Call for Power Plant’s Permits

March 2018

WAWAYANDA—The fallout from the corruption conviction of former Gov. Cuomo aide Joseph Percoco on Tuesday includes some officials from Orange County seeking an investigation or the outright revocation of permits granted for the $900-million CPV Valley Energy Center project here. Joseph Percoco, a former executive deputy secretary to Gov. Cuomo, was found guilty on Tuesday…

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HGAR, HVEDC Look to ‘Visionaries’ On Future of Region’s CRE Markets

March 2018

POUGHKEEPSIE—The Hudson Gateway Association of Realtors, Inc. is co-sponsoring a groundbreaking conference with the Hudson Valley Economic Development Corp. entitled “Hudson Valley Visionaries: A Look into the Future of Commercial Real Estate” on Thursday, April 12th at the campus of Marist College in Poughkeepsie. The program will feature a panel of commercial real estate investors,…

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LEGISLATIVE AFFAIRS: Tax Reform Victories for Commercial Realtors

March 2018

Commercial brokers fared well in the recently passed “tax reform bill”. Specifically, 1031 like kind exchanges were kept intact and middle-income housing tax credits were kept that encourages developers to build affordable housing in expensive housing markets. Still on the drawing board is the ADA Education and Reform Act (2018). The original Americans with Disabilities…

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