News

Ashkenazy Makes Second Westchester Buy This Month; Acquires Larchmont Shopping Center for $35 Million

November 2019

The Ferndale Shopping Center, an 84,000-square-foot retail property in Larchmont, has been acquired by Ashkenazy Acquisition Corporation from Ten Grand Inc. at a price that exceeded $35 million. Earlier this month, the New York City-based privately-owned real estate investment firm acquired Vernon Hills Shopping Center, a 380,000-square-foot retail asset in Eastchester; Cushman & Wakefield also…

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WRO Honors HGAR's Leah Caro

November 2019

Caro serves as co-chair of WRO's Board, and is also co-chair of the Hudson Gateway Association of Realtors’ Legislative Council and is chairperson of the OneKey MLS. She is also a past president of HGAR and HGMLS. WRO also recognized at the Oct. 24th dinner Korey Wise, (right) one of the so-called "Central Park Five"…

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Governor Visits Orange County to Tout Completion of $150M Exit 131 Project

November 2019

CENTRAL VALLEY—New York Gov. Andrew M. Cuomo announced on Nov. 14 the completion of the $150-million design-build project at the Woodbury Road, Transit and Economic Development Hub in Orange County five years ahead of schedule and in time for the holiday shopping season. The Hub provides improved access to businesses and shopping destinations at Woodbury…

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Facebook Completes 1.5 Million SF in Lease Deals at Hudson Yards

November 2019

NEW YORK—Hudson Yards announced on Nov. 14 it had completed a lease with Facebook for more than 1.5 million square feet of office space across 30 floors and three buildings at Hudson Yards. The lease deal includes approximately 1.2 million square feet at 50 Hudson Yards, approximately 265,000 square feet at 30 Hudson Yards and…

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Global Economic Instability Drives Investors to US Real Estate

November 2019

NEW YORK—In an informative, yet concise overview of the recently released ULI “Emerging Trends in Real Estate 2020” report, author Mitch Roschelle, partner with PwC, offered some heartening insights to attendees of the Global Real Estate Summit 2019 Conference and Expo as to why the US real estate market remains a favorite with foreign and…

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National Association of Realtors Installs 2020 Leadership

November 2019

SAN FRANCISCO—Vince Malta, a third-generation Realtor, was installed on Nov. 11 as the 2020 president of the National Association of Realtors during the 2019 Realtors Conference & Expo here. Malta was NAR’s 2019 president-elect and 2018 first vice president. He has been in the industry for 40 years and is a broker at Malta &…

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HG Realtor Foundation Volunteers at Feeding Westchester

November 2019

Hudson Gateway Realtor Foundation volunteers came out recently to donate their time packing grocery bags at Feeding Westchester in Elmsford. Feeding Westchester is a member of Feeding America, the nationwide network of more than 200 food banks serving every state in the United States. Based in Elmsford, Feeding Westchester supplies and distributes food to more…

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Westchester County Executive Warns of Housing ‘Affordability Crisis’

November 2019

TARRYTOWN—Westchester County Executive George Latimer in a presentation to the business community on his proposed $2.1-billion 2020 Budget touted the $1 million cut in the Westchester County property tax levy that will reduce tax levies in some areas of the county. In a county-produced video presentation to the nearly 200 attendees of the Business Council…

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Westchester County Association Picks Former Banking Exec. as Interim President/CEO

November 2019

WHITE PLAINS—The Westchester County Association has announced that John E. Ritacco, a financial services executive and the former president and CEO of CMS Bancorp Inc., will be appointed Interim President/CEO of the business advocacy organization effective Jan. 1, 2020. The WCA stated that the search for a new leader continues. Ritacco will remain in the…

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ERA Insite Realty Opens New Office in Connecticut

November 2019

BETHEL, CT—ERA Insite Realty has expanded its brokerage operations to the State of Connecticut. Broker/Owners and founders of ERA Insite Realty Lou and Debra Budetti reported recently the opening of the firm’s fifth office location and the company’s first in Connecticut, located in Bethel in Fairfield County. Drew Slack, a 20-year industry veteran who has…

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Vernon Hills Shopping Center in Eastchester Trades for $125 Million

November 2019

EASTCHESTER— Ashkenazy Acquisition Corp. has added Vernon Hills Shopping Center in Eastchester for more than $125 million from Vernon Hills Shopping Center LLC. The five-building, mixed-use property, totaling more than 380,000 square feet at 700 White Plains Road, features a mix of retail, medical and professional credit tenants. The purchase was reported by Cushman &…

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HUD, Justice Department Agree to Ease Use of False Claims Act

October 2019

WASHINGTON—U.S. Housing and Urban Development Secretary Ben Carson and U.S. Attorney General William Barr issued a Memorandum of Understanding on Oct. 28 between the two agencies that sets what the two agencies say is “prudential guidance on the appropriate use of the False Claims Act for violations by Federal Housing Administration lenders. “This agreement clearly…

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Adler Among Those Inducted into Rockland Civil and Human Rights Hall of Fame

October 2019

NYACK—Commercial real estate veteran Paul Adler Esq. of Rand Commercial was one of three individuals inducted into the county’s Civil and Human Rights Hall at the Hall of Fame’s luncheon held in Nyack earlier this week. Adler, who serves as Chief Strategy Officer/RE Associate Broker with Rand Commercial, is an attorney, a veteran commercial real…

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RPW Adds 100 Manhattanville Road to Office Portfolio

October 2019

PURCHASE—The RPW Group has acquired the 290,631-square-foot 100 Manhattanville Road office building here. No financial terms of the transaction were released. The transaction was reported by Newmark Knight Frank, which has been awarded the exclusive leasing assignment at the property by new owner RPW Group. A Newmark Knight Frank team led by Executive Managing Director…

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Major Long Island Developer Entering Hudson Valley Market

October 2019

FISHKILL, NY– Farrell Building Co., widely known for developing luxury single-family homes in Long Island and the Palm Beach, FL area, has entered the Hudson Valley with several new projects. Farrell is developing new luxury rental properties in Newburgh, Middletown and New Windsor, in Orange County, as well as in Fishkill, Beacon, and Wappingers in…

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Existing-Home Sales Decrease 2.2% in September

October 2019

WASHINGTON—Existing home sales receded in September following two consecutive months of increases, according to the National Association of Realtors. In its monthly report released on Oct. 22, NAR reported that all four major regions witnessed sales drop off last month, with the Midwest absorbing the brunt of those declines. Overall sales in the Northeast fell…

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Berkshire Hathaway Westchester Properties Sponsors Fourth Annual Event to Benefit Sunshine Kids Charity

October 2019

EASTCHESTER– Berkshire Hathaway HomeServices Westchester Properties will present its fourth annual Sunshine Kids benefit on October 23rd at Mulino’s at Lake Isle Country Club in Eastchester. Doors open at 6 p.m. All proceeds will benefit The Sunshine Kids Foundation, an organization dedicated to helping children with cancer. The event will feature Emmy-award winning mentalist Oz…

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