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Google Plans $1Billion Expansion in NYC

December 2018

NEW YORK CITY—Add Google to the list of mega US tech companies that are planning major expansion initiatives in New York City. Ruth Porat, senior vice president and CFO of Google and its parent company Alphabet Inc., announced in a blog released this morning that Google plans to invest more than $1 billion in capital…

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Just In: County Executive Latimer Signs Co-Op Transparency Bill

December 2018

WHITE PLAINS— In one of the biggest legislative victories in the history of the Hudson Gateway Association of Realtors and its predecessor organizations, Westchester County Executive George Latimer signed into law today a bill aimed at reforming the cooperative purchase process. At a press conference on Dec. 14 County Executive Latimer signed the bill, sponsored…

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Westchester IDA Approves Half a Billion Dollars in New Projects

December 2018

WHITE PLAINS—The Westchester County Industrial Development Agency has granted preliminary and final approvals for more than $531 million in new development projects in White Plains, Harrison and Pelham. On Nov. 29, the Westchester County IDA granted a resolution of intent to provide financial incentives for AvalonBay Communities’ $76.8-million transit-oriented, mixed-use residential project to be built…

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New Rochelle Apartment Tower Trades for Nearly $260M

December 2018

NEW ROCHELLE—A partnership of Azure Partners and Harbor Group International, LLC has acquired the 40-story Halstead New Rochelle Metro North apartment tower here for $259.4 million. The tallest residential building in Westchester County was sold by the DSF Group, which acquired the 588-unit apartment building in 2013 for more than $210 million. Holliday Fenoglio Fowler,…

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HGAR’s 2019 Installation Gala Set for January 17 in Central Valley

December 2018

Ron Garafalo Tapped for 2019 HGAR President The Hudson Gateway Association of REALTORS® will hold its 2019 Installation Gala at the Falkirk Estate & Country Club in Central Valley on Thursday, January 15 from 6 to 10 p.m. Ron Garafalo, of John J. Lease Realtors, will be installed as HGAR’s 2019 president, along with the…

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Ginsburg Unveils Plans for City Square in Downtown White Plains

November 2018

WHITE PLAINS—Ginsburg Development Companies LLC recently unveiled its transformative plan for the Westchester Financial Center in Downtown White Plains to the White Plains City Council. The City Square project calls for the renovation of the existing office complex and the conversion of a portion of the office space into multifamily housing and retail and community…

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NYC Firm to Acquire Macy’s Store in Rockland; Major Lease Signed with New Retailer

November 2018

NANUET, NY—New York City-based Metropolitan Realty Associates has signed a contract to acquire the 218,000-square-foot Macy’s store at The Shops at Nanuet here. Metropolitan Realty Associates, headed by founder and CEO Joe Farkas, is partnering with equity partner Angelo Gordon & Co. LP of New York City in a sale/ leaseback agreement with Macy’s that…

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Westchester Board of Legislators Approves Co-Op Transparency Bill

November 2018

WHITE PLAINS—The Hudson Gateway Association of Realtors secured one of its more significant legislative victories in years on the evening of Nov. 19 when the Westchester County Board of Legislators overwhelmingly approved a compromise co-op transparency bill. The bill will establish new rules to make the cooperative sales process faster for buyers and sellers and…

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Amazon Makes it Official, Picks NYC and Arlington, VA for HQ2

November 2018

SEATTLE—Amazon confirmed press reports that it decided to split its massive second headquarters requirement (HQ2) and has chosen Long Island City, Queens and Arlington, VA to house those operations that will house 25,000 workers each. Amazon announced on Nov. 13 it will invest $5 billion and create more than 50,000 jobs across the two new…

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Westchester County Legislators to Vote On Compromise Co-Op Transparency Bill

November 2018

WHITE PLAINS—The long sought-after battle to enact legislation to bring transparency to the cooperative purchase process in Westchester County appears to be at hand. An overwhelming majority of those in the residential real estate and cooperative management sectors testified at a public hearing on Oct. 29 in favor of a compromise bill negotiated by county…

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Election Aftermath: Nation Divided; New York Gets Bluer

November 2018

WHITE PLAINS—The political landscape after the election on Nov. 6 changed dramatically both in Washington DC and Albany. In the nation’s capital, President Trump and the GOP retained control of the U.S. Senate and in fact Republicans picked up seats from the Democrats. At press time, the GOP had 51 seats to the Democrats’ 46…

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Yonkers Once Again Looks to Develop Chicken Island

October 2018

YONKERS—City officials hope to end more than four decades of frustration and failed attempts to develop the Chicken Island property in Downtown Yonkers. In what city officials termed as a “game changer” for the downtown district, the City of Yonkers announced on Oct. 29 it had signed a letter of intent to sell the six-acre…

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NAR Chief Economist Tells Realtors Not to Expect Recession in 2019, 2020

October 2018

NEW YORK—With a market struggling with low inventory, higher mortgage rates and slower home sales, a packed room of Realtors at the Marriott Marquis hotel in Manhattan collectively sighed relief when NAR Chief Economist Lawrence Yun said he does not expect a national recession next year or in 2020. In fact, Yun also stated that…

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Toll Brothers Starts Construction on Housing Component at Former GM Plant Site

October 2018

SLEEPY HOLLOW—By this time next year, the first tangible signs of what will be a $1-billion redevelopment of the former General Motors minivan assembly plant site here will be clear to see. While infrastructure work and demolition of the massive plant itself have been undertaken since the closure of the General Motors minivan assembly plant…

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Hudson Valley Home Prices Continue to Rise, While Sales Decline

October 2018

WHITE PLAINS—Home sale prices were up sharply in the third quarter in the four-county market area of the Hudson Gateway Association of Realtors, with the exception of Westchester County where sales prices were relatively flat as compared to a year earlier. Sales volume was off marginally throughout the region, with overall third quarter sales down…

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Home Sales Still Strong, Prices Rise in Most Hudson Valley Markets

October 2018

WHITE PLAINS—Third quarter real estate sales in the lower Hudson Valley remained robust, although slightly lower than third quarter 2017 sales. While unit sales were generally lower in the Hudson Valley region served by the Hudson Gateway Multiple Listing Service, sale prices remained strong. With the exception of Westchester County, which experienced a one tenth…

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MA. Developer Withdraws $4.51M Offer To Buy Vacant Sain Building in New City

October 2018

NEW CITY—A noticeably agitated Rockland County Executive Ed Day stood in front of the vacant Sain Building here on Oct. 9 and announced that National Development, the developer who had offered to pay $4.51 million to acquire the property and convert it into a senior residence, had withdrawn its purchase offer. National Development, a real…

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Latimer Appoints Gibbons as Director of Office of Economic Development

October 2018

WHITE PLAINS— Westchester County Executive George Latimer has decided to hire from within county government’s ranks and appointed Bridget Gibbons as the new Director of the Office of Economic Development. Gibbons had served as the county’s Deputy Director of Economic Development since Latimer took office in January 2018. She was the guest speaker at the…

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