Featured

$300M Mixed-Use Project in Port Chester Advances

August 29, 2015

PORT CHESTER—Starwood Capital Group of Greenwich, CT officially began the public review process last month on its ambitious $300-million redevelopment plan for the long shuttered United Hospital property here. The project entered the public review process on July 20 after Port Chester’s Board of Trustees voted to accept as complete the Draft Environmental Impact Statement…

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Berkshire Hathaway Enters Market With Two Buys

July 25, 2015

SCARSDALE—The Berkshire Hathaway franchise entered the Westchester County residential real estate brokerage marketplace in a big way recently with the acquisition of two well-known Westchester County brokerage firms—the now former Prudential Centennial Realty in Scarsdale and Tri-Crest Realty, Inc. of nearby Eastchester. Berkshire Hathaway HomeServices New England Properties announced the acquisition of Prudential Centennial Realty,…

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Hudson Valley Home Sales Spike Sharply in Second Qtr.

July 25, 2015

WHITE PLAINS—Strong buyer demand in the second quarter fueled a substantial increase in home sales in the four-county Hudson Gateway Association of Realtors market area, particularly in Orange County. The home sales recovery continued in the region with the only caveat being that home sale prices struggled in most counties in the region over the…

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County Executive Odell Points to Bright Future

July 25, 2015

MAHOPAC—Putnam County Executive MaryEllen Odell said her administration continues to make headway into bringing new development to the “County of Main Streets.” Odell, the keynote speaker at the June 25th meeting of the Commercial Investment Division of the Hudson Gateway Association of Realtors, said she is bullish on the future of the county. She also…

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Ivy Realty Acquires White Plains Plaza Office Towers

June 25, 2015

WHITE PLAINS—After failing to secure the office tower properties more than a decade ago, Ivy Realty of Greenwich, CT has recently acquired the 725,000-square-foot White Plains Plaza office complex here in a distressed sale. White Plains Plaza consists of two 15-story office buildings at One North Broadway and 445 Hamilton Ave. that adjoin Ivy’s 275…

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IRG Looks to Acquire Pfizer Campus in Pearl River

June 25, 2015

PEARL RIVER, NY—Progress is being made on the sale of one of the two pharmaceutical corporate campuses on the market in Rockland County. While a sale could close by late summer on a portion of the Pfizer complex in Pearl River in a sale and partial leaseback transaction, little progress has been made to find…

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LCOR to Break Ground on $250M Project In Downtown White Plains

May 3, 2015

WHITE PLAINS—LCOR Inc., the developer of the proposed mixed-use 55 Bank St. project near the White Plains train station, said recently that the Berwyn, PA-based firm hopes to break ground in May on the $250-million venture. James Driscoll, senior vice president of LCOR, said that financing was being finalized for the project that will feature…

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Monitor: County Could Face Hefty Fines For Federal Fair Housing Case Violations

May 2, 2015

  WHITE PLAINS—In what appears to be an escalating battle between the court appointed Housing Monitor James Johnson and the Astorino administration, Johnson has charged that the county is in violation and in possible contempt of the terms of the 2009 federal fair housing case settlement. If found in contempt, the county could be subject…

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Urstadt Biddle Confirms Sales Deal for Westchester Pavilion

April 1, 2015

 WHITE PLAINS—Urstadt Biddle Properties Inc. of Greenwich, CT, the owner of the Westchester Pavilion shopping center here, has confirmed that it has signed a contract to sell the property to a subsidiary of homebuilder Lennar Corp. of Miami. The deal, first reported in the March edition of Real Estate In-Depth, will facilitate the redevelopment of…

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Realtors Predict a ‘Normal’ Spring Home Sales Market

April 1, 2015

WHITE PLAINS—For the second year in a row, a harsh winter that featured significant snow, extreme cold and on many days biting winds kept many prospective homebuyers bundled up next to the fireplace and away from Realtor Open Houses. Despite the long winter of 2014-2015, homes sales in the four-county region of the Hudson Gateway…

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Car Dealer Abandons $10-Million Project After IDA-Neuhaus Spar Over Incentives

March 3, 2015

NEWBURGH—A car dealer that had planned to build a $10-million Cadillac dealership here has reportedly scrapped the project in reaction to criticism raised by Orange County Executive Steve Neuhaus and the Town of Newburgh over incentives granted to the project by the Orange County Industrial Development Agency. The Orange County IDA reported on March 17…

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Westchester Pavilion Mall to be Sold To Make Way for $275-Million Project

March 3, 2015

WHITE PLAINS—The Westchester Pavilion shopping center, the current headquarters of the Hudson Gateway Association of Realtors, is under contract to be sold by Urstadt Biddle Properties Inc. to Lennar Multifamily Communities, LLC of Herndon, VA. Lennar, a subsidiary of Miami-based Lennar Corp., is proposing to demolish the 185,000-square-foot shopping center to make way for a…

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