Commercial

Yonkers Movie Studio Project Granted Preliminary Approval for Incentives

February 20, 2020

YONKERS—At its Feb. 19th session, the Board of Directors of the Yonkers Industrial Development agency granted preliminary approval of proposed financial incentives for a movie studio complex to be built at the iPark complex here. The incentives are in connection with the $60-million first phase of the studio complex for Lionsgate motion picture company. The…

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HGAR Introduces New “Women in CRE” Series

February 20, 2020

WHITE PLAINS—The Hudson Gateway Association of Realtors has announced the introduction of a new workshop series—“Women in Commercial Real Estate - Navigating the Commercial Real Estate Window-Looking Outside In.” This exciting new workshop series is designed to offer education and information on working in the commercial real estate industry, key issues facing commercial real estate…

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Construction Underway on Final Phase Of WatermarkPointe Condo Project

February 19, 2020

NEW ROCHELLE—National Realty & Development Corp., which is headquartered in Purchase, reported on Feb. 10 that it is in the final phase of construction at WatermarkPointe, a luxury condominium waterfront community in New Rochelle. Work is underway, with only 11 remaining homes priced from $1.83 million at the project that cost an estimated $100 million…

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Coalition Leaders Make the Case for Route 17 Expansion

February 19, 2020

GOSHEN—Although Gov. Andrew Cuomo and the State Legislature are currently grappling with how to close a $6-billion budget shortfall, representatives of a coalition advocating for a $500-million project to expand Route 17 from Harriman in Orange County to Monticello in Sullivan County are undeterred in their belief that now is the time to move forward…

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Mark Your Calendars: NYSCAR Hudson Valley Conference Set for April 1, 2

February 18, 2020

NEW WINDSOR—The Hudson Valley Chapter of NYSCAR will be hosting its Commercial Real Estate Spring Conference on April 1st and 2nd at La Casa Vicina, 1015 Little Britain Rd. in New Windsor from 8:30 a.m. to 4:30 p.m. In addition to a marketing/networking session, the following courses will be offered: “1031 Exchange,” presented by Robert…

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Two Major Orange County Projects Secure Key Approvals

February 18, 2020

MONTGOMERY, NY—The more than 1-million-square-foot Amazon warehouse project here was granted approval earlier this month for a 15-year PILOT agreement by the Montgomery Industrial Development Agency that will allow the e-commerce giant to begin construction shortly on the project. Published reports value the Amazon project at more than $75 million and L. Todd Diorio, president…

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Simon Property Group Agrees to Acquire Taubman Centers for $3.6 Billion

February 10, 2020

INDIANAPOLIS—Retail giant Simon Property Group reported on Feb. 10 its intent to acquire retail shopping mall owner Taubman Centers, Inc. in a deal valued at $3.6 billion. Terms of the deal would have Simon acquire an 80% ownership interest in The Taubman Realty Group Limited Partnership. Simon, through its operating partnership, Simon Property Group, L.P.,…

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Arena STEM to Open Flagship Location at Palisades Center

February 5, 2020

WEST NYACK—Arena STEM, a newly established retail center offering a combination of entertainment, education and retail, will open its flagship store at Palisades Center this spring. The new 12,200-square-foot store will be located on Level 3 near the Food Court. Arena STEM, founded by Sergei and Julia Manevich of New Jersey, is a new and…

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Westchester County IDA Supported $1.6 Billion in New Investment in 2019

January 29, 2020

WHITE PLAINS—The Westchester County Industrial Development Agency announced recently it provided financial incentives for a wide range of new commercial developments that accounted for approximately $1.6 billion in new investment in Westchester County. The projects incentivized in 2019 involved more than 2,800 in new proposed residential units. Some of the projects involved repurposing vacant office…

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Rye-Based Acadia Realty Making More Than $100M Play in SoHo

January 29, 2020

NEW YORK—Acadia Realty Trust of Rye has closed on the purchase of a retail condo in the SoHo section of Manhattan for $15.4 million from Premier Equities. The transaction is part of a string of recent and pending purchases by Acadia in SoHo and along Greene Street totaling more than $100 million. The latest deal…

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Coalition Urges Gov. Cuomo, State Lawmakers To Increase NYDOT Capital Plan to $35 Billion

January 22, 2020

ELMSFORD—The Rebuild NY Now coalition is asking Gov. Andrew Cuomo, state lawmakers and officials with the New York State Department of Transportation to significantly increase capital spending for the maintenance, repair and replacement of the state’s road and bridge network. At a press conference held on Jan. 17, construction industry executives, organized labor officials, state,…

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UPS Signs Major Lease Deal For Yonkers Distribution Center

January 22, 2020

YONKERS—In what is believed to be one of the largest commercial lease transactions in Westchester County in decades, United Parcel Service has signed a long-term lease for a new state-of-the-art distribution center at 555 Tuckahoe Road in Yonkers with building owner Alfred Weissman Real Estate. The 435,000-square-foot building was formerly occupied by POP Displays, a…

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CE Neuhaus Says County Will Issue RFP For Development at Camp LaGuardia

January 22, 2020

CHESTER—Orange County Executive Steven Neuhaus told a group of construction and organized labor leaders earlier this month that the county will put out a Request for Proposals for future development at the county-owned former Camp LaGuardia property in Chester and Blooming Grove, NY in coming weeks. Neuhaus, who appeared at the Jan. 14th meeting of…

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Serendipity Labs Announces Expansion into New U.S. Markets

January 16, 2020

RYE—Locally-based workspace provider Serendipity Labs has announced its entry into six new markets. The deals will add more than 130,000 square feet to the company’s US network and are all scheduled to open this year. Serendipity Labs is opening two of its flexible shared offices in January, Wauwatosa, WI and Westport, CT. It has also…

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Law Firm to Relocate to Riverview at Purchase

January 15, 2020

PURCHASE—Three new lease deals have been signed at the RiverView at Purchase office building here, including a 13,000-square-foot transaction with the law firm Marshall Dennehey Warner Coleman & Goggin, P.C. The law firm, which is headquartered in Philadelphia, signed a seven year-lease deal with building owner Phoenix Capital Partrers, LLC, according to CBRE, which represented…

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Westchester Developer Predicts Booming County Economy in 2020’s

January 15, 2020

WHITE PLAINS—For the approximately 150 real estate and building executives assembled at the Building Owners and Managers Association luncheon on Jan. 9, many are now hoping that Westchester developer Robert Weisz is as wise a prognosticator as he has been a real estate investor. Weisz, a principal of RPW Group of Rye Brook, near the…

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Bronx Park Mitchell-Lama Portfolio Trades for $166 Million

January 3, 2020

NEW YORK—A portfolio of eight Mitchell-Lama apartment buildings in the Bronx totaling 1,275 units has changed hands in a deal valued at $166 million. A partnership of LIHC Investment Group, Belveron Partners and Camber Property Group announced the acquisition on Jan. 3 of the Bronx Park portfolio from Cammeby’s International Group. The deal includes the…

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HGAR’S Global Business Council Chair Participates in Global Business Summit in Belgium

January 3, 2020

SCARSDALE—Emilce (Emi) Cacace, HGAR’s Global Business Council Chair, recently participated in the International Real Estate Federation’s (FIABCI) annual Global Business Summit in Ghent, Belgium. Cacace also serves as FIABCI’s Vice President of the World Council of Brokers. The summit, held in early December, featured guest speakers from the United Kingdom, France, Switzerland, Belgium, Finland, Nigeria,…

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