Featured

Middletown Wins $10-Million Economic Development Sweepstakes

July 2016

MIDDLETOWN—Gov. Andrew Cuomo made a stop at the Paramount Theatre here on July 6th to announce that the City of Middletown had won a hotly contested $10-million state grant to help revitalize its downtown district. A host of state, county and local dignitaries were on hand for the announcement that Middletown had secured the Downtown…

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Mount Vernon Mayor Confident City Can Attract New Investment

June 2016

MOUNT VERNON—Mayor Richard Thomas knows the city is playing catch up with neighboring Yonkers, White Plains and New Rochelle. However, the energetic young chief executive believes that for the city to bring in significant private investment it must spend capital to improve its neglected infrastructure. While he knows that the work to bring what he…

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State Tax Department Issues STAR Tax Credit Guidelines

June 2016

ALBANY - The New York State Department of Tax and Finance has published a form for distribution to new homeowners that provides guidance on the new STAR tax credit program, the New York State Association of Realtors reported on June 7. Homeowners who purchased their current home prior to May 1, 2014 and already receive…

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GM Redevelopment Finally Breaks Ground

May 2016

SLEEPY HOLLOW—In what Village of Sleepy Hollow Mayor Ken Wray described as simply “a defining moment for our village, a real turning point” and a break with its industrial past, the developers of The Edge-on-Hudson, a planned more than $1-billion mixed-use development, broke ground on the former site of the General Motors assembly plant here.…

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$60M French American School Project Still in ‘Limbo’

May 2016

WHITE PLAINS—Despite a blistering rebuke of the actions by the White Plains Common Council over what has been a five-year long approval process, the $60-million French American School of New York development project here is still nowhere near breaking ground. New York State Supreme Court Judge Joan Lefkowitz in her recent ruling described the project…

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Hudson Gateway REALTORS® Support Equal Housing Opportunities for All

April 2016

Hudson Gateway Association of REALTORS® As we celebrate the 48th anniversary of the federal Fair Housing Act and the progress that has been made, sadly, we must recognize that after nearly five decades illegal discrimination in housing is a crime that still exists today. The Hudson Gateway Association of REALTORS® (HGAR) applauds Gov. Andrew Cuomo’s…

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IDA Delays Vote Again on Major Project Based on Complaints Over Labor Policy

April 2016

NEW WINDSOR—The developer of a major warehouse distribution project in the Town of Newburgh will have to wait until next month to possibly secure millions of dollars in incentives for its $40-million facility that will include anchor tenant AmerisourceBergen. The Orange County Industrial Development Agency delayed two votes on granting incentives to the major distribution…

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Hudson Valley Home Sales Market Continues Feverish Sales Pace

April 2016

WHITE PLAINS—The Hudson Valley home sales market in the first quarter continued its upward trajectory, with increased sales throughout the four county region. However, the market has yet to truly become a seller’s market since sale prices were flat or even decreased in the four county HGAR region. A majority of all housing categories (single…

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2016 FIRST QUARTER REAL ESTATE SALES REPORT

April 2016

Westchester, Putnam, Rockland and Orange Counties, New York Editor’s Note: The following is the full text version of the 2016 First Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland and Orange Counties, New York released today by the Hudson Gateway Multiple Listing Service, Inc. WHITE PLAINS - Realtors operating in the four-county lower…

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Governor, Legislature Agree on $147B Budget

April 2016

ALBANY—New York Gov. Andrew Cuomo and state legislative leaders announced on March 31 that they had agreed on a $147-billion budget for Fiscal Year 2016-2017 that includes a phased in $15-minimum wage in portions of the state, paid family leave and a middle-class tax cut. The budget holds growth in state spending to 2% for…

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Developer Says Westchester Will Benefit From Pricey NYC Office Market

March 2016

WHITE PLAINS—Veteran real estate investor and developer Robert Weisz says Westchester County should benefit from the heady New York City office market in 2016. Weisz, principal of the RPW Group of Rye Brook, hosted approximately 40 commercial brokers at a meeting of the Hudson Gateway Association of Realtors’ Commercial Investment Division at his 1133 Westchester…

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$250 Million Retail Project in Newburgh On Hold - UPDATE

March 2016

NEWBURGH—Here’s a head scratcher, considering the robust commercial real estate market in the US and specifically in the Hudson Valley. A long-delayed, but much anticipated retail project here is on hold, a victim of the changing retail investments market, the ownership tells Real Estate In-Depth exclusively. The $250-million Loop-Hudson Valley project, which had leased more…

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11-Year Saga Finally Ends for Chappaqua Crossing - UPDATE

March 2016

CHAPPAQUA—A storyline that included a bankruptcy that changed everything, false hopes, staunch opposition, failed votes, litigation and in the end finally compromise ended with the groundbreaking of the controversial Chappaqua Crossing mixed-use project here. The approval process took 11 years to finish to get to the point where shovels went in the ground earlier this…

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$230M Expansion at Westchester Medical Center to Begin in Spring - UPDATE

March 2016

Health Care is the Rx for Hudson Valley Economy   WHITE PLAINS—The healthcare sector continues to drive economic growth in Westchester County. Recent projects announced or under construction in the Hudson Valley put the healthcare and bioscience sector well in excess of $1 billion in new projects. On Wednesday, March 2, a plan to build…

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$250 Million Retail Project in Newburgh On Hold

March 2016

NEWBURGH—A long-delayed, but much anticipated retail project here is on hold, a victim of the changing retail investments market, the ownership tells Real Estate In-Depth exclusively. The $250-million Loop-Hudson Valley project, which had leased more than 80% of the planned 650,000-square-foot to 700,000-square-foot project to be built on a 120-acre parcel at the junction of…

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$230M Expansion at Westchester Medical Center to Begin in Spring

March 2016

WHITE PLAINS—The healthcare sector continues to drive economic growth in Westchester County. On Wednesday, March 2, a plan to build a $230-million Ambulatory Care Pavilion adjacent to the existing Westchester Medical Center was approved by the Westchester County Local Development Corp. It is the LDC’s largest deal since its official formation in April 2013. The…

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Major Retail Properties Change Hands; More Deals to Come

February 2016

HGAR to Move HQ Offices in April WHITE PLAINS—While the talk of the real estate industry in the Hudson Valley has been the emergence of the multifamily sector as an economic engine driving growth in the Hudson Valley economy, in early 2016 it has been the retail sector that has grabbed the major headlines with…

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Westchester Cities Prime for Private Development Growth

February 2016

TARRYTOWN—The multi-family construction boom, which has been going on in earnest in many U.S. gateway cities, such as New York City, Boston, Washington, DC, and San Francisco to name a few, is finally hitting the suburbs and major cities in Westchester County are now beginning to take advantage of the investment community’s attraction to rental…

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Commercial Brokers Bullish on Market Prospects for 2016

February 2016

WHITE PLAINS—In what can only be described as “saving the best for last,” Hudson Valley commercial real estate brokers predicted the commercial markets will fare very well this year, fueled by increased tenant demand and surging health care and biotech sectors. The roundtable discussion presented by the Hudson Gateway Association of Realtors’ Commercial Investment Division…

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