NEW YORK—City and state officials announced on March 18 that Great Performances, the city’s largest woman-owned catering and food services firm, will be relocating operations from Hudson Street in New York City to the South Bronx. Gov. Andrew M. Cuomo announced that as part of the relocation, Great Performances will create 181 new jobs and…
Read MoreWHITE PLAINS—The day business, political and real estate leaders have dreaded has arrived—on March 15 most of Westchester County was included in a new natural gas connection moratorium imposed by utility Con Edison. Amid charges by many that the moratorium will delay and perhaps kill billions of dollars in new development projects and thousands of…
Read MoreMONTICELLO—The old gaming adage: “The House always wins,” doesn’t apply yet to the Hudson Valley’s only full-licensed casino gaming resort. The $1.2-billion Resorts World Catskills Casino Resort lost nearly $139 million last year and a total of $185 million in the last two years. According to a 10K filing with the Securities and Exchange Commission…
Read MoreELMSFORD-Robert Martin Co., one of the pioneer commercial office real estate development firms in Westchester County, has confirmed plans to reacquire approximately 95% of the portfolio it developed here and in Fairfield County, CT and sold more than two decades ago in a deal valued at $487.5 million. Industry observers say the deal, if finalized,…
Read MoreALBANY—New York State Comptroller Thomas DiNapoli released a report earlier this month that showed foreclosures in New York State are on the decline and court filings are in nearly 50% below near peak levels posted six years ago. Mortgage foreclosure filings across New York dropped 46% between 2013 and 2018, from 46,696 to 25,334, according…
Read MoreWASHINGTON—The evolving technological landscape, competition from non-traditional market participants and housing affordability continue to be among the biggest challenges facing real estate firms in the next two years, according to a report by the National Association of Realtors. NAR's 2019 Profile of Real Estate Firms released on March 6 found that commercial real estate firms…
Read MoreWHITE PLAINS—A real estate attorney speaking before a group of Westchester County commercial brokers said the moratorium on new natural gas connections slated to go into effect on March 15 “is here to stay.” Officials with Con Edison—the utility that is imposing the moratorium—who participated in the discussion did not disagree. More than 100 attendees…
Read MoreALBANY—A coalition consisting of more than 100 business, civic, political and labor industry interests are calling for New York State to spend a total of $500 million to expand the existing Route 17 in Orange and Sullivan counties. Specifically, the organization is calling for a multi-year plan to construct a third lane in each direction…
Read MoreJames G. Houlihan, a real estate industry veteran of 69 years, who served as president of the Bronx Board of Realtors and the New York State Association of Realtors, passed away at the age of 95 on March 2. Houlihan, a longtime resident of Bronxville, NY and Palm Beach, FL, started his first job in…
Read MoreNEW YORK—The Regional Plan Association released a report on Tuesday that put a hefty price tag—$16 billion—if the controversial Gateway Rail Tunnel project fails to secure the necessary financing to move forward. The RPA in its report entitled “A Preventable Crisis: The Economic and Human Costs of a Hudson River Rail Tunnel Shutdown” calculated that…
Read MoreNEW YORK—Governor Andrew Cuomo and New York City Mayor Bill de Blasio, who have historically been at odds on a host of issues, agree on one thing—the Metropolitan Transportation Agency needs to be reformed. On Feb. 26, Cuomo and de Blasio released a 10-point plan to reform the MTA and to create sustained funding streams…
Read MoreNANUET—Nyack College has announced it will postpone the planned relocation of its undergraduate programs from its campus in Rockland County to Lower Manhattan until early 2020. In an announcement to students on the college’s website, Nyack College president Michael G. Scales stated that the college had delayed the planned relocation of its undergraduate program to…
Read MoreBUCHANAN—Until recently, the major energy issue facing Westchester County and the Hudson Valley/New York City region was the impending closure of the nuclear reactors at Indian Point in the next two years. However, that was before Con Edison announced its plan to impose a moratorium on new natural gas connections for most of the county…
Read MoreWHITE PLAINS—A.S.A.P. Mortgage, which is headquartered in Cortland Manor, has embarked on a significant expansion effort of late that has included the opening of new offices in New York City and White Plains and the launch of a new commercial finance division. In addition, the company reports its intent to open additional locations in the…
Read MoreEditor’s Note: The following was the testimony given by John Ravitz, executive vice president and chief operating officer of The Business Council of Westchester, at a hearing of the New York State Public Service Commission at a hearing at the White Plains Library on Feb. 13. Good evening. My name is John Ravitz. I am…
Read MoreNEW YORK—If a post mortem were to be done on the failed Amazon HQ2 deal in Long Island City, Queens, the cause of death for the $4-billion deal that was to bring in excess of 25,000 high-paying jobs to the region would no doubt be from multiple causes. The reactions from the governor of New…
Read MoreWHITE PLAINS—In two separate hearings on Wednesday, county, city and business leaders bemoaned the potential economic impact of Con Edison’s moratorium on new natural gas connections for most of Westchester County scheduled to begin on March 15. Some described the current situation as “a full-blown crisis” with the potential to bring new commercial, multifamily and…
Read MoreWHITE PLAINS—The Hudson Gateway Realtor Foundation’s first event of 2019 drew almost 200 people to Neiman Marcus at The Westchester in White Plains for a “Project Beauty” event. The luxury department store closed early for the special event that featured champagne, wine, hors d’oeuvres, make-overs, professional headshots, and a “What’s New for Spring” runway show…
Read MoreWHITE PLAINS—ERA Insite Realty Services, a full service, family owned and operated residential real estate firm with offices in White Plains, Bronxville, Yonkers and Pleasantville, has reported that Meet the Sellers of the Bronx has merged with the White Plains based firm. Meet the Sellers was founded and owned by broker Irene Guanill Elukowich. Louis…
Read MoreALBANY—The New York State Public Service Commission has scheduled public hearings in White Plains next week to solicit public comment on the impending moratorium on new natural gas connections by utility Con Edison set to begin on March 15. The PSC will hold meetings at the White Plains Library at 100 Martine Ave. on Wednesday,…
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