WHITE PLAINS—For the approximately 150 real estate and building executives assembled at the Building Owners and Managers Association luncheon on Jan. 9, many more than likely 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…
Read MoreWHITE PLAINS—Sales of residential real estate in the lower Hudson Valley remained strong in 2019, according to the recently released “2019 Annual And 4th Quarter Residential Real Estate Sales Report—Westchester, Putnam, Rockland, Orange and Sullivan Counties, New York” by the Hudson Gateway Multiple Listing Service, Inc. Overall residential sales, which include condominium, co-op and two…
Read MoreALBANY—With the specter of a $6-billion shortfall facing New York State this legislative session, Gov. Andrew Cuomo delivered his 10th State of the State Address on Jan. 8 that featured a host of new initiatives, including a $3-billion environmental bond act to fight climate change, a renewed call for legalized cannabis, as well as infrastructure…
Read MoreTwo of the New York metro area’s biggest tourist attractions, standing almost side-by-side and covering more than 500 acres, could be considered as anomalies within the concrete jungle of New York City. However, both the Bronx Zoo and the New York Botanical Garden are wide open havens of land nestled along Southern Boulevard in the…
Read MoreALBANY—In response to recent published reports of alleged fair housing discrimination on Long Island, the Real Estate Board of New York on Dec. 16 approved new regulations for real estate professionals to help combat housing discrimination. The new regulations, which the New York State Real Estate Board approved today, mandate enhanced disclosures by real estate…
Read MoreBronx Economy Continues to Attract Significant Investment With the publication of Real Estate In-Depth’s first special section on the Bronx, we thought it appropriate that our readers learn first-hand from the borough’s chief executive—Bronx Borough President Ruben Diaz Jr.—on the state of the borough. There is a lot happening in this borough made famous by…
Read MoreNEW ROCHELLE—The unfortunate tale of the troubled College of New Rochelle has officially come to an end after 115 years. The storied College of New Rochelle campus was sold at auction for $32 million to the Trustees of The Masonic Hall & Asylum Fund. The United States Bankruptcy Court approved the sale in a hearing…
Read MoreWHITE PLAINS—A developer that is seeking to redevelop a vacant office building into a 450-unit rental apartment complex secured a preliminary inducement of $6.57 million in mortgage and sales tax exemptions from the Westchester County Industrial Development Agency. The Westchester IDA granted the incentive package to 3 WPD Apartments LLC, an affiliate of Marcus Partners…
Read MoreALBANY—New York Gov. Andrew M. Cuomo and New York Attorney General Letitia James announced that New York, Connecticut, Maryland and New Jersey have filed a notice of appeal to the U.S. Court of Appeals for the Second Circuit to continue litigation against the federal government for what they term as the unlawful and unprecedented cap…
Read MoreNEW YORK—In an informative, yet concise overview of the recently released ULI “Emerging Trends in Real Estate 2020” report, author Mitch Roschelle, partner with PwC, offered some heartening insights to attendees of the Global Real Estate Summit 2019 Conference and Expo as to why the US real estate market remains a favorite with foreign and…
Read MoreWHITE PLAINS—Elmsford-based real estate development and investment firm Robert Martin Company LLC, which helped shape the commercial real estate market in Westchester County decades ago, now sees the growing biotechnology and life sciences sector as an avenue of growth for the firm and the county as a whole. Speaking at the Oct. 31 meeting of…
Read MoreTARRYTOWN—Westchester County Executive George Latimer in a presentation to the business community on his proposed $2.1-billion 2020 Budget touted the $1 million cut in the Westchester County property tax levy that will reduce tax levies in some areas of the county. In a county-produced video presentation to the nearly 200 attendees of the Business Council…
Read MoreNEW YORK—A number of real estate’s most influential thought leaders came together on Nov. 4 to share strategies for succeeding in the global marketplace as part of the Global Real Estate Summit NYC at the New York Marriott Marquis. The day-long event, now in its 13th year, attracted hundreds of area real estate professionals focused…
Read MoreTARRYTOWN—More than 1,200 members of the Hudson Gateway Association of Realtors gathered at the DoubleTree Hotel here for the association’s 103rd Annual Meeting & Member Appreciation Day on Oct. 28. The highlight of the day-long program was the introduction of Gail Fattizzi as the 2020 HGAR President. Along with Fattizzi, a slate of HGAR Officers…
Read MorePEEKSKKILL—The City of Peekskill, which in August of this year was awarded a $10-million grant through the state’s Downtown Revitalization Initiative to revitalize its downtown district, issued an open call for privately sponsored project proposals to be considered for DRI funding. City officials say the purpose of the open call is to hear from members…
Read MoreALBANY—The fortunes of Wall Street have a lot to say in how the residential markets, particularly luxury housing, in the greater New York metropolitan area perform. Based on the results of the financial services sector in the first half of this year, the luxury markets should be enjoying a boost. However, the second half of…
Read MoreSLEEPY HOLLOW—The developers of the Edge on Hudson mixed-use project being built at the former General Motors assembly plant here has reached an agreement with Houston-based Hines, which will build nearly 250 luxury apartments at the site. The new Hines development, part of phase two of the multi-phased development, will be located at the entrance…
Read MoreWASHINGTON—Existing home sales receded in September following two consecutive months of increases, according to the National Association of Realtors. In its monthly report released on Oct. 22, NAR reported that all four major regions witnessed sales drop off last month, with the Midwest absorbing the brunt of those declines. Overall sales in the Northeast fell…
Read MoreWHITE PLAINS—The residential home sales market in the Hudson Valley showed some surprising resilience in the third quarter. While some real estate analysts had predicted home sales would likely soften in the latter part of 2019, home sales in fact increased in a majority of the region. According to the “2019 THIRD QUARTER RESIDENTIAL REAL…
Read MoreMOUNT VERNON—Montefiore Health System announced on Oct. 15th a plan to close Mount Vernon Hospital and replace the storied facility with a new, $41-million health care complex on Sandford Boulevard in Mount Vernon. The project, which will be funded by a grant from New York State, will involve the development of a new, 40,000-square-foot location…
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