News

LEGOLAND New York Previews Eight ‘Lands’

September 2018

GOSHEN—More than 100 people attended a major preview event on Aug. 16 hosted by Merlin Entertainments of the eight themed “lands” that will make up its LEGOLAND New York Resort in Goshen. Thousands of Lego bricks cascaded down resembling a waterfall revealing a 10-foot LEGO model of the entire theme park. The model is made…

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Northeast Existing-Home Sales Increased in August; Mixed Results in Other Regions

September 2018

WASHINGTON—Existing-home sales remained steady in August after four straight months of decline, according to the National Association of Realtors. Sales gains in the Northeast and Midwest canceled out downturns in the South and West. A bright spot for the residential markets was in the Northeast, which saw its August existing-home sales rise 7.6% to an…

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Business Council Coalition Says Westchester Airport Future in Jeopardy

September 2018

RYE BROOK—Concerned that the future of Westchester County Airport is in jeopardy, the Business Council of Westchester has launched the Coalition for Westchester Airport, consisting of a broad range of businesses, labor organizations, educators, non-profits and residents in support of what they term as one of the county’s most valuable assets. The coalition has come…

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Orange County’s Future Tied to Route 17 Investments

September 2018

GOSHEN—The lifeline of Orange County and points further north has for some time been Route 17 as tourists and shoppers flock to such popular destinations as West Point and Woodbury Common Premium Outlets to name just a few. With construction of the $500-million Legoland New York project in Goshen now underway with an opening planned…

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At Home in Pine Bush

September 2018

Pine Bush is a quiet, little hamlet located in the Town of Crawford in Orange County. It’s adjacent to the Town of Shawangunk in Ulster County, with the Shawangunk Kill, a small river, marking the boundary. New York State Routes 52 and 302 intersect the hamlet. Area: 2.11 Square Miles Population: 1,701 Median Home Price:…

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Hotel Construction on the Rise in Orange County

September 2018

GOSHEN—The amount of new hotel construction of late in Orange County has been staggering with new projects either opened or in the development pipeline mainly at two key corridors—Route 17 and I-84 adjacent to the recently renamed New York Stewart International Airport in New Windsor. According to statistics recently provided by the Orange County Partnership,…

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Investor Confidence Leads to Rise in Speculative Construction

September 2018

GOSHEN—As any real estate investor knows, speculative development has its inherent risks that a buyer/lessee be secured relatively quickly and at a price that will yield acceptable returns on investment. The significant economic development activity that has taken place in Orange County recently has led to vacancy rates in the low single-digits for prime industrial…

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HGAR, LIBOR Boards Sign Key Agreement To Create New Regional MLS Next Year

September 2018

WHITE PLAINS—The Hudson Gateway Association of Realtors and the Long Island Board of Realtors have announced that their efforts to create a consolidated new regional Multiple Listing Service that would benefit approximately 40,000 subscribers had cleared a significant milestone. The two largest Realtor associations in New York State reported that their respective Boards of Directors…

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Orange County Housing Market Showing No Sign of Slowing Down

September 2018

As the summer of 2018 comes to an end, the real estate market in Orange County is not showing any signs of slowing down. After the highs Orange County experienced in 2008, when the median sales price (half above and half below) for all homes was $300,000, we saw prices decrease for about eight years,…

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Health Quest, Marist College to Build New Medical School

September 2018

POUGHKEEPSIE—Marist College and healthcare services provider Health Quest plan to build a $75-milllion medical school in in Dutchess County. A site for the new Marist Health Quest School of Medicine has not been finalized, but Marist and Health Quest state in their joint announcement on Sept. 12 that plans call for a building of approximately…

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HGAR Membership Coordinator Karen Maloney Retires

September 2018

WHITE PLAINS—The Hudson Gateway Association of Realtors extends well wishes to Karen Maloney, Membership Coordinator at its White Plains office, who has retired after spending 15 years with the Association. Maloney worked with HGAR in White Plains for the past seven years, and with the former Putnam County Association of Realtors in Brewster for eight…

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Westchester’s Regeneron Pharmaceuticals Will Spend $800M to Expand Upstate

September 2018

ALBANY—Tarrytown-based Regeneron Pharmaceuticals Inc. is at it again, but this time in the Capital District. The state’s largest biotechnology company is planning to spend $800 million to expand its research and lab facilities upstate outside of Albany. The company’s capital plans were announced on Tuesday by Gov. Andrew Cuomo, who reported that the state’s Empire…

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Westchester County Association Rebrands As Economic Development Organization

September 2018

WHITE PLAINS—The Westchester County Association reported on Sept. 10 that it completed a years-long transition from a business membership organization to what it termed as Westchester’s most “powerful economic development entity.” To better reflect its policy and action-oriented identity, the Westchester County Association (unveiled its first major brand realignment since it was founded in 1950.…

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WRO to Honor Former HGAR President Botsoe

September 2018

NEW ROCHELLE—Westchester Residential Opportunities (WRO) will honor HGAR’s 2017 President Dorothy Botsoe at its gala set for Wednesday, Oct. 10 from 6 pm. to 9:30 p.m. at the VIP Country Club in New Rochelle. Botsoe is the principal broker of Dorothy Jensen Realty, Inc. in White Plains. Last year, Botsoe became the first black president…

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HGAR to Hold 102nd Annual Member Appreciation Day on Oct. 29 in Tarrytown

September 2018

TARRYTOWN—The Hudson Gateway Association of Realtors will hold its 102nd Annual Member Appreciation Day on Monday, Oct. 29 at the DoubleTree Hotel in Tarrytown. More than 1,100 Realtors from Westchester, Putnam, Rockland, and Orange counties, as well as the Bronx and Manhattan are expected to attend the full-day event. With a theme of “Rock Star…

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TD Bank Finances Hunts Point Affordable Housing Project

September 2018

NEW YORK—TD Bank reported on Aug. 28 it had closed on an $18.4-million construction loan for MHANY Management Inc. and We Stay/Nos Quedamos, Inc. (Nos Quedamos) to develop the second phase of Phoenix Estates, a new eight-story, mixed-use building in the Hunts Point neighborhood of the Bronx. The 111,000 square foot building will eventually become…

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Second Span of New Mario Cuomo Bridge to Open Saturday

September 2018

TARRYTOWN—Long-suffering commuters will soon get the full benefits of the new Tappan Zee Bridge, now known as the Governor Mario M. Cuomo Bridge. In fact, the ride could get much better by this Saturday. Gov. Andrew Cuomo announced on Tuesday that the second span of the Governor Mario M. Cuomo Bridge will open this Saturday,…

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Yonkers IDA Approves Perks for Major Waterfront Project

September 2018

YONKERS—New York City developer Extell’s proposed $502-million mixed-use waterfront project here has received approximately $21.3 million in incentives from the Yonkers Industrial Development Agency. Yonkers IDA officials stated that the incentives granted to Extell is the largest package of incentives offered by the authority in its history. The Yonkers IDA conveyed the perks to Extell…

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Nunan Named COO of Houlihan Lawrence

September 2018

RYE BROOK—Houlihan Lawrence has announced the appointment of Elizabeth Nunan, a 20-year veteran of the company, as chief operating officer. Nunan, who spent 20 years at Houlihan Lawrence heading its Global Business Development team, most recently worked as the executive vice president of Member Services at Leading Real Estate Companies of the World (LeadingRE), an…

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NAR: Northeast Existing-Home Sales Slip 8.3% in July

August 2018

WASHINGTON—Existing-home sales subsided for the fourth straight month in July to their slowest pace in over two years, according to the National Association of Realtors. The West was the only major region with an increase in sales last month. Total existing-home sales, https://www.nar.realtor/existing-home-sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops,…

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