Featured

Debt, Smaller Down Payments Leave Millennials Vulnerable to Already Challenging Market

April 2018

SANTA CLARA, CA—Rising interest rates and home prices will cause a resounding majority of millennials to modify their home search, perhaps prompting them to seek a smaller or less expensive home or even consider different neighborhoods, according to a survey released on April 4 by realtor.com. Two factors are contributing to market sensitivity from millennials—their…

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‘Elvis’ to Rock the House at ‘Viva Las Vegas’ Event on May 8

April 2018

NEW ROCHELLE—In a few weeks, “Elvis” will grace the stage at Glen Island Harbour Club in New Rochelle when the Hudson Gateway Realtor Foundation presents “Viva Las Vegas,” Tuesday, May 8 from 6 p.m. to 10 p.m. The fundraiser will support charities and non-profit organizations throughout the Hudson Valley and will feature “Elvis” tribute artist…

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Latimer Administration, Legislators Reviewing Privatization Deals

March 2018

TARRYTOWN—While not saying that he intends to scrap any of the public-private partnerships between the county and vendors for the management of Rye Playland and Westchester County Airport, Westchester County Executive George Latimer told a business group gathering recently that both deals are being reviewed by his administration. Latimer, in a speech before trades groups…

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Survey: Housing, Economic Sentiment on Divergent Paths

March 2018

WASHINGTON— New consumer findings from the National Association of Realtors surprisingly show that while a growing share of households in the first three months of the year feel more confident about the economy and their financial situation, those positive feelings are not translating to positive views that now is a good time to buy a…

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Former Westchester Deputy County Executive Joins Simone Development

March 2018

NEW YORK—Former Westchester Deputy County Executive Kevin Plunkett left his office at the Westchester County Office Building in White Plains in January and has re-surfaced in the executive suite at Bronx-based Simone Development Companies. Simone Development announced on March 28 that Plunkett, who served as Deputy County Executive for two terms in Republican Robert Astorino’s…

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HGAR Contingent Presses State Lawmakers On Key Real Estate Legislative Agenda Items

March 2018

ALBANY—A record number of members of the Hudson Gateway Association of Realtors traveled to the state capital on March 20 and joined Realtors from across the state to press the industry’s legislative agenda that includes advancing the implementation of a first-time home buyer’s savings account and transparency and disclosure in cooperative housing sales transactions statewide.…

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New York City’s Chelsea Market Trades for $2.4 Billion

March 2018

NEW YORK—Goggle Inc., a major tenant at the property, has acquired the Chelsea Market here from Atlanta-based Jamestown for $2.4 billion. Jamestown announced the closing of the transaction for the nearly 1.2 million square-foot complex on Tuesday. The former Nabisco factory occupies a full block bound by Ninth and Tenth avenues between 15th and 16th…

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Lack of Inventory Continues to Dog U.S. and New York State Housing Markets

March 2018

WASHINGTON—Chief officials with the National Association of Realtors and the New York State Association of Realtors continue to point to low inventory levels as a continuing headwind for the residential sales market. The National Association of Realtors released home sales statistics for the month of February that showed a 3% sales volume increase nationally, however,…

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Key State Approval Secured for $40M Hospital Project in Port Jervis

March 2018

PORT JERVIS—The New York State Department of Health has approved a Certificate of Need for a more than $40-million project at the Bon Secours Community Hospital here. Bon Secours parent Westchester Medical Center Health Network announced the state Department of Health approval on Wednesday. The new project at the border of Orange County and Pennsylvania…

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Corruption Conviction Prompts Neuhaus to Call for Power Plant’s Permits

March 2018

WAWAYANDA—The fallout from the corruption conviction of former Gov. Cuomo aide Joseph Percoco on Tuesday includes some officials from Orange County seeking an investigation or the outright revocation of permits granted for the $900-million CPV Valley Energy Center project here. Joseph Percoco, a former executive deputy secretary to Gov. Cuomo, was found guilty on Tuesday…

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Coast Guard Sinks Controversial Hudson River Anchorage Plan for Now

March 2018

NEW YORK—A coalition of business, political and environmental interests’ lobbying efforts to have the Coast Guard abandon a controversial plan to significantly expand anchorages up and down the Hudson River have borne fruit. The U.S. Coast Guard announced on Tuesday that the establishment of the anchorages was not one of the recommendations in its Hudson…

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HGAR, HVEDC Look to ‘Visionaries’ On Future of Region’s CRE Markets

March 2018

POUGHKEEPSIE—The Hudson Gateway Association of Realtors, Inc. is co-sponsoring a groundbreaking conference with the Hudson Valley Economic Development Corp. entitled “Hudson Valley Visionaries: A Look into the Future of Commercial Real Estate” on Thursday, April 12th at the campus of Marist College in Poughkeepsie. The program will feature a panel of commercial real estate investors,…

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HGAR to Lobby State Lawmakers On Key Consumer, Industry Bills

March 2018

ALBANY—A contingent of more than 40 members of the Hudson Gateway Association of Realtors are expected to travel to the state capital later this month to meet with state lawmakers and advocate for consumer and real estate industry reform legislation. The contingent will be led by Leah Caro and John Olivero, co-chairs of the HGAR…

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New Rochelle Mayor, RXR Realty Reveal $200M Project Will Move Forward

March 2018

NEW ROCHELLE—Another major mixed-use high-rise residential project is moving forward here. New Rochelle Mayor Noam Bramson announced at a business conference on Wednesday that RXR Realty will soon be presenting plans to the city for the long-anticipated development at Church and Division streets. Mayor Bramson and officials with RXR Realty, the master developer for the…

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Rockland Co-Op Purchase Reform to Become Law This Summer

March 2018

NEW CITY—Rockland County Executive Ed Day is allowing the recently passed co-op purchase reform bill to become law, but has requested the County Legislature go further and enact a provision that would require cooperative boards provide a reason for an applicant’s denial. County Executive Day announced that he would leave the bill, sponsored by County…

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Orange County Partnership Leads Coalition on Route 17 Initiative

March 2018

GOSHEN—The Orange County Partnership reports that it is leading a coalition that includes the Orange County Citizens Foundation and the Sullivan County Partnership for Economic Development in trying to have New York State fund necessary traffic improvements on Route 17 to alleviate congestion and facilitate economic development and growth. The three organizations are promoting an…

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Inventory Shortage Taking Toll on U.S. Existing-Home Sales

February 2018

WASHINGTON—The National Association of Realtors reported on Feb. 21 that existing-home sales slumped for the second consecutive month in January and experienced their largest decline on an annual basis in more than three years. All major regions saw monthly and annual sales declines last month, NAR stated. Total existing-home sales, which are completed transactions that…

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Port Authority Approves $30-Million Project At Stewart Int. Airport in Orange County

February 2018

NEW YORK—The tremendous success of international air service by Norwegian Airlines at Stewart International Airport in Orange County has prompted the Port Authority to expand services at the airport based in New Windsor in Orange County. Stewart International Airport will undergo a major expansion with the addition of a $30-million permanent U.S. Customs inspection area…

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