News

White Plains to Move Forward With Train Station Initiative

March 2017

WHITE PLAINS—White Plains Mayor Thomas Roach says the city will soon be issuing a solicitation for interested developers on plans to develop what will likely be highly sought after city-owned property around the White Plains Metro North train station. Mayor Roach, who was the guest speaker at the March 23rd meeting of the Hudson Gateway…

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Report: Hudson Valley Cities Will Power Region’s Growth

March 2017

SPARKILL—The not-for-profit regional think tank Hudson Valley Pattern for Progress released a report earlier this month entitled “Urban Action Agenda-A Program in Motion” that theorizes the Hudson Valley region can attract new residents, including Millennials, into urban and downtown districts if proper planning and development takes place. The report included extensive research on 25 urban…

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Ginsburg Debuts Newest Rental Property in Downtown White Plains

March 2017

WHITE PLAINS—Longtime residential development firm Ginsburg Development Companies of Valhalla recently unveiled its most recent addition to its multifamily portfolio—the newly renamed “The Metro” in Downtown White Plains. GDC Principal Martin Ginsburg took the wraps off his firm's 124-unit, 12-story asset at 25 Martine Ave. at an event held on March 20th. The firm acquired…

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Houlihan Lawrence Lands Cambium Assignment

March 2017

LARCHMONT—Residential brokerage firm Houlihan Lawrence reported recently it was designated the exclusive sales and marketing agent for The Cambium condominium property. Sales for the residential development will now be led by agent Mary Gail Barry of Houlihan Lawrence. Developed by Byron Place Associates, LLC, The Cambium—located at 10 Byron Place—brings the luxury of Manhattan lifestyle…

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Stillman Property Management Signs New Clients

March 2017

HARRISON—Stillman Property Management, a full-service property management company based in Harrison, announced it has been selected to provide management for new properties in Westchester and Fairfield counties. The Westchester County properties added to Stillman’s client roster include: 15 South Division St., a commercial and residential mixed-use building in New Rochelle; Stonecrest, an eight-story cooperative residential…

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County Selling ‘Fair and Affordable’ Priced Homes as Part of Court Case

March 2017

WHITE PLAINS—Westchester County officials announced on March 9th that applications were being accepted for more that 30 new, fair and affordable homes in Westchester. The available properties are single-family homes and condominiums, ranging in size, from one to five bedrooms. All of the homes are in good condition and located in: Bedford, Buchanan, Cortlandt, Harrison,…

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NAR Survey Finds Generation X on the Mend

March 2017

WASHINGTON— An improving economy, multiple years of strong job growth and the notable increase in home values in most markets fueled a greater share of purchases from Generation X households over the past year. That new finding is according to the National Association of Realtors 2017 Home Buyer and Seller Generational Trends study, which evaluates…

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Oros Named New Director Of Economic Development

March 2017

WHITE PLAINS—Westchester County Executive Robert P. Astorino announced recently the appointment of George Oros as the new Director of Economic Development. Phil Oliva, the Deputy Director of Communications, succeeded Oros as Chief of Staff. Both appointments were effective March 13. William Mooney III, the current director of Economic Development, announced last month that he was…

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Tarrytown Office Building Trades for $30 Million

March 2017

TARRYTOWN—GHP Office Realty of White Plains has increased its regional office portfolio with the $30-million acquisition of a Class A office building here. Commercial brokerage firm Cushman & Wakefield reports that GHP Office Realty acquired the 279,000-square-foot office property from RA 660 White Plains Road LLC, an entity controlled by RNY Property Trust, an Australia-based…

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Merlin Seeks 20-Year PILOT Deal For LEGOLAND New York Project

March 2017

GOSHEN—The proposed developer and operator of the $500-million LEGOLAND New York theme park here announced on March 1 that it will seek a 20-year Payment in Lieu of Taxes deal from the Orange County Industrial Development Agency. Merlin had originally proposed a 30-year PILOT deal, but now is looking to finalize the 20-year accord after…

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BARRISTER'S BRIEFING: It’s Time to Talk About Timeshares

March 2017

We see the glitzy advertisements on television all the time. A low-cost timeshare offer beckons you away to a tropical or otherwise desirable location. Realtors and members of the public should always investigate to see if all that glitters is truly gold. The purpose of the article is to describe exactly what are the basic…

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Astorino, Local Officials Blindsided by Indian Point Closure Deal

March 2017

PEEKSKILL—The overwhelming takeaway from a recent state legislative committee public hearing on the Indian Point closure deal between New York State and plant operator Entergy Corp. was that state officials failed to forewarn key local stakeholders that a deal was in the works. County and local officials also were in unison expressing concern that a…

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Former Ramapo LDC Director Pleads Guilty in Bond Fraud Case

March 2017

WHITE PLAINS—The former executive director of the Ramapo Local Development Corp. N. Aaron Troodler pled guilty on March 7th to federal securities fraud and conspiracy charges in connection with the bond financing for the construction of what is now known as the Palisades Credit Union Park, and other projects, including the failed The Hamlets condominium…

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Multifamily Boom Takes Hold in NYC Suburbs

March 2017

TARRYTOWN—The suburbs surrounding New York City, including Westchester County, are now in the throes of a multifamily development boom as major investors flock to downtown districts in White Plains, New Rochelle, Yonkers and Mount Vernon to build transit-oriented communities. A panel of real estate investors at an event staged by The Business Council of Westchester…

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In Memoriam: Richard Albert

March 2017

The Hudson Gateway Association of Realtors regrets to inform its membership of the recent passing of veteran Realtor Richard Albert. The longtime Broker/Owner died on March 5th at the age of 89. Albert is survived by his much beloved wife Brenda, son Jeffrey, daughter Susan, stepchildren Lisa and Michael, grandchildren:  Molly, Sasha, Chelan, Brittany, Jordan,…

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Urstadt Biddle Sells Westchester Pavilion for Nearly $57 Million

March 2017

WHITE PLAINS—The former home of the Hudson Gateway Association of Realtors—the Westchester Pavilion Mall—has changed hands and is expected to be demolished shortly for a new high-rise mixed-use development. Greenwich, CT-based Urstadt Biddle Properties sold the vacant existing 185,000-square-foot Westchester Pavilion mall to Maple and Broadway Holdings, LLC, a subsidiary of Lennar Corp. through its…

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Houlihan Lawrence Commercial Expands Brokerage Operations Into Connecticut

March 2017

RYE BROOK— Houlihan Lawrence Commercial Group, the commercial arm of leading real estate firm Houlihan Lawrence, reported on Feb. 28th that it expanded operations into Connecticut. Agent Michael Rackenberg has been named the team leader for the office that will service the communities throughout Fairfield County, including New Canaan, Greenwich and Stamford. He will be…

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BARRISTER'S BRIEFING: HUD Provides Grants for Lead-Based Paint Abatement

March 2017

On Feb. 8, 2017, the U.S. Department of Housing and Urban Development announced the availability of grants to help abate lead-based paint hazards in lower income homes. The chief purpose of these grants is to protect young children in these residences. These monies will also give an opportunity for communities to establish programs to control…

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Gov. Cuomo Forms Task Force as Hearings Convene on Indian Point Closure

March 2017

ALBANY—Gov. Andrew Cuomo announced the formation of an Indian Point Closure Task Force the same day as a joint meeting of committees of the State Assembly and Senate convened on the business and economic impacts the planned closure of the nuclear facility in Buchanan might have on the state and local economies. The newly formed…

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