ALBANY—New York State Comptroller Thomas P. DiNapoli’s recently designated 27 municipalities across the state as fiscally stressed, including Westchester County and a number of municipalities in the Hudson Valley region. The list released on Sept. 27th included eight counties, eight cities and 11 towns, but marks the fewest number of municipalities listed in stress since…
Read MoreYONKERS—Forest City Enterprises is completing two major sale transactions that will for the most part signal its exit from the retail real estate market. Forest City is selling its interest in a host of regional malls and shopping centers, including the highly successful Ridge Hill Shopping Center in Yonkers it opened in 2011. QIC Global…
Read MoreWASHINGTON— The “Big 6” tax reform proposal if enacted, could lead to a tax on homeownership for millions, according to the National Association of Realtors. President Donald Trump and Congressional Republican leadership, dubbed the “Big 6,” released its framework for tax reform on Sept. 27th that calls for changes to the current tax code that…
Read MoreWHITE PLAINS—Westchester County has entered a contest that promises a huge payout—thousands of high paying, new jobs and billions of dollars in investment. Westchester County Executive Robert Astorino announced on Sept. 26th that the county would be submitting a proposal to Amazon for the e-commerce giant’s second corporate headquarters, a deal that could bring 50,000…
Read MoreNEW YORK CITY—E-commerce giant Amazon has certainly garnered headlines of late for its massive real estate requirements. Earlier this month, the Seattle-based retailer announced it would be conducting a national search for a second U.S. corporate headquarters valued at approximately $5 billion. While the heady requirement has economic development officials across New York State and…
Read MoreNEW YORK—The ownership at 12 specialty retail properties in the New York metro area totaling more than 2 million square feet of retail space will be changing by year’s-end. Forest City Realty Trust has signed an agreement to sell its 51% stake in 12 specialty retail properties in the New York City area to partner…
Read MoreWASHINGTON—Despite being in the prime years to buy their first home, an overwhelming majority of millennials with student debt currently do not own a home and believe this debt is to blame for what they typically expect to be a seven-year delay from buying, according to a recently released study on student loan debt and…
Read MorePLEASANTVILLE—ERA Insite Realty Services, with offices in White Plains, Bronxville and Mount Pleasant, announced a merger deal on Sept. 18th with Century 21 Haviland in Pleasantville. The merger was announced by Louis and Debra Budetti, founders and owners of ERA Insite Realty Services, which is headquartered in White Plains. The merger comes on the heels…
Read MorePEEKSKILL—Ginsburg Development Companies Principal Martin Ginsburg joined with Peekskill Mayor Frank Catalina and other state, county and city officials and dignitaries on September 14 for a groundbreaking ceremony to mark the start of construction of Gateway Townhomes here. Located at 700 Main St., at the gateway to the city from Route 9, Gateway Townhomes will…
Read MoreWASHINGTON—Tax reform done right could yield savings and simplification that benefits average Americans, but history shows that misguided reforms can pose significant threats to the economy. That’s the message the National Association of Realtors brought to Congress on Sept. 14th as Iona Harrison, chair of NAR’s Federal Taxation Committee, testified before the Senate Finance Committee.…
Read MoreGOSHEN, NY—The $500-million LEGOLAND New York project proposed by Merlin Entertainments secured key approvals by a 4-1 vote of the Goshen Town Board on Thursday evening that put the development ever closer to breaking ground. The Town Board approved amendments to the town’s comprehensive plan and zoning law as well as the adoption of Local…
Read MoreSince winning the County Executive post in the November 2013 election, former Chester Supervisor Steve Neuhaus has tackled a host of difficult issues that initially included closing significant budget gaps, stabilizing county government finances and shepherding the redevelopment of the Orange County Government Center in Goshen. Orange County Executive Neuhaus, who is running for re-election…
Read MoreNEW YORK—The timeliness of this year’s Global Real Estate Summit NYC is significant, as the event is set to take place amid skyrocketing foreign investment in U.S. residential real estate. According to a recently released report from the National Association of Realtors, growth within the commercial sector is promising, as well. Backed by the premier…
Read MoreWASHINGTON— Commercial real estate price growth in large markets is expected to flatten over the next year, but strong leasing demand and investor appetite in smaller markets should keep the sector on solid ground, according to the latest National Association of Realtors quarterly commercial real estate forecast (available at https://www.nar.realtor/reports/commercial-real-estate-outlook). Backed by the ongoing stretch…
Read MorePOCANTICO HILLS—The lavish Hudson Pines estate of billionaire philanthropist and banker David Rockefeller is on the market for sale for $22 million. The former chairman and CEO of Chase Manhattan Bank passed away at the age of 101 in March of this year. Since his passing, Rockefeller’s estate began to sell off his various real…
Read MoreWASHINGTON—With the State of Texas reeling from the extensive damage of Hurricane Harvey and the State of Florida and other southern states assessing the havoc caused by Hurricane Irma, Congress recently passed legislation that will provide some assistance to the millions of people impacted by these devastating storms. On Thursday, September 7, the U.S. Senate…
Read MoreGOSHEN—The Commercial Investment Division of the Hudson Gateway Association of Realtors hosted an informative and at times provocative roundtable discussion on growth along the Route 17 corridor and how the current two-lane (both east and west) arterial can handle future growth. With the March opening of the more than $1-billion Resorts World Catskills Casino and…
Read MoreA Burning Passion for Real Estate John Olivero really loves Goshen. Some 27 years ago, the former Staten Island firefighter got in his car and started driving north in search of an affordable home in a nice, quiet community. He got off at the Goshen exit and has been there ever since! Today, the broker/owner…
Read MoreNEW YORK—While President Donald Trump and New York Gov. Andrew Cuomo have each professed the need for the federal and state governments, and the private sector to invest more in infrastructure, a proposal released by the Regional Plan Association to fix the New York City transit system may test the mettle of both men. The…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors is joining the National Association of Realtors, calling on members nationwide to donate funds to the Realtor Relief Foundation to support Hurricane Harvey victims. The RRF, whose goal is to help families who have endured catastrophic loss, will use the money for mortgage and rental assistance. NAR President…
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