News

Celebration of Black History Month at HGAR

March 21, 2023

WHITE PLAINS—Black History Week was unofficially started in 1915, 50 years after the Thirteenth Amendment abolished slavery in the United States to research and promote the achievement of Black Americans and other people of African descent. Fast forward to 1926, the second week of February – which coincides with the birthdays of Abraham Lincoln and…

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U.S. Existing-Home Sales Surged 14.5% in February; Northeast Sales Rose 4%

March 21, 2023

WASHINGTON—Existing-home sales reversed a 12-month slide in February, registering the largest monthly percentage increase since July 2020, according to the National Association of Realtors. Month-over-month sales rose in all four major U.S. regions. All regions posted year-over-year declines. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, vaulted 14.5% from January…

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Westchester County Looking for Large Block of Space for DOH Offices

March 20, 2023

WHITE PLAINS—Commercial property owners and developers in Westchester have until May 15 to submit proposals for leasing new office space that will be used by the Westchester County Department of Health. Details about space requirements are listed in a recently released RFP (Request for Proposals). Primarily the new office space will be used to consolidate…

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New York Area Residential Sale Price Fell 4.40% in February

March 20, 2023

FARMINGDALE—OneKey MLS has reported a regional closed median sale price of $550,000 in February 2023 for the New York area residential market, representing a 4.40% decrease as compared to the reported $575,000 in January 2023. OneKey MLS reported on March 20 that between January 2023 and February 2023, closed regional sales transactions, including residential, condo,…

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Development Boom Continues in Westchester Despite Economic Headwinds

March 20, 2023

WHITE PLAINS—Chief officials from the cities of White Plains, Yonkers and New Rochelle agree that investment interest in new development projects in their respective cities remains high despite higher construction and labor costs and the predictions by some that a recession may be on the horizon. The Building Owners and Managers Association (BOMA) Westchester held…

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Emerging New Post-Pandemic Trends in Office Design and Workspace

March 20, 2023

In the post-Pandemic world, many people have returned to their offices full-time or on a hybrid schedule, and live events from small meetings to large conventions have slowly started to return. While videoconferencing remains a staple in most businesses, more people coming back into an office could mean more reorganization of workspaces. “During the Pandemic,…

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Route 17 Expansion Will Improve Mobility and Enhance Safety

March 20, 2023

By Maureen Halahan and Marc Baez Editor’s Note: This article first appeared in Mid Hudson News (midhudsonnews.com). In business, as in life, we can find ourselves in a rut. The way out may be complex or simple, but it always involves change. That’s the key to moving forward; idling holds you back, and doing nothing…

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Corcoran Legends Realty Acquires Renwick Real Estate in Bedford

March 16, 2023

BEDFORD—Corcoran Legends Realty, a franchisee of Corcoran Group LLC, recently announced its acquisition of storied local real estate brokerage firm Renwick Real Estate in Bedford, NY. The addition of Renwick Real Estate’s agents and central Bedford office adds to Corcoran Legends Realty’s significant presence across Westchester County, company officials noted. “We are proud to welcome…

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HGAR Headquarters Property Sold to Hines for $110 Million

March 14, 2023

WHITE PLAINS—Commercial brokerage firm CBRE announced today that the headquarters building for the Hudson Gateway Association of Realtors has been sold to Hines U.S. Property Partners. Hines U.S. Property Partners is the flagship commingled U.S. core plus fund for Hines, which is headquartered in Houston. No financial terms of the transaction were disclosed by CBRE…

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Yonkers IDA Votes Preliminary Approval of Incentives For $56.8-Million Affordable Senior Rental Building

March 9, 2023

YONKERS—The Yonkers Industrial Development Agency voted at its March 6 monthly meeting preliminary approval of financial incentives for a $56.8-million affordable housing project for low-income seniors. Located at 345 McLean Ave., the 12-story residential building will feature 105 studio, one-and two-bedroom apartments for seniors 62 years of age and older whose income is at or…

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NAR Report: U.S. Homeownership Market Share Increases, But Black-White Ownership Gap Grows to Largest in Decade

March 9, 2023

WASHINGTON—While the U.S. homeownership rate has continually increased during the last decade —to 65.5% in 2021 (from 64.7% in 2011)—the Black homeownership rate has not kept pace with increases of other racial groups. Also, people of color endure significant buying challenges throughout and even after their home purchase, according to a report released earlier this…

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Bronx Borough President Prioritizes Eco. Development, Eliminating Digital Divide in State of Borough Address

March 9, 2023

NEW YORK—Earlier this month, Bronx Borough President Vanessa L. Gibson delivered her first State of the Borough address at Manhattan College, outlining the accomplishments made by her administration in 2022 and unveiling what she termed as a bold strategic agenda for 2023. With the theme, “Borough of Opportunities,” Borough President Gibson announced new initiatives in…

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NY State Expands Fair Housing Testing to Combat Housing Discrimination

March 1, 2023

ALBANY—New York Gov. Kathy Hochul announced on Feb. 24 a $2.2-million expansion of New York’s Fair Housing Testing Program designed to root out discrimination in home rental and sale transactions. New York State has partnered with six nonprofit organizations across the state to deploy undercover testers to act as potential renters and home seekers. The…

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Westchester Launches Business FIRST Downtown Improvement Grant Program

March 1, 2023

WHITE PLAINS—Westchester County announced on Feb. 22 that the next phase of Westchester County Office of Economic Development’s Business FIRST (Financial Investments for Recovery and a Sustainable Tomorrow) program will focus on downtown improvement and stimulating economic revitalization at the local level. This Pilot Grant Program will help four municipalities reimagine and revitalize their downtown…

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U.S. Consumer Confidence Fell Sharply in February

March 1, 2023

NEW YORK—The Conference Board Consumer Confidence Index decreased in February for the second consecutive month. The Index now stands at 102.9 (1985=100), down from 106.0 in January (a downward revision), The Conference Board announced on Feb. 28. The Present Situation Index—based on consumers' assessment of current business and labor market conditions—increased to 152.8 (1985=100) from…

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NAR: Pending Home Sales Improved for Second Straight Month, Up 8.1% in January

February 27, 2023

WASHINGTON—Pending home sales improved in January for the second consecutive month, according to statistics released today by the National Association of Realtors. All four U.S. regions posted monthly gains but saw year-over-year drops in transactions. The Pending Home Sales Index improved 8.1% to 82.5 in January. Year-over-year, pending transactions dropped by 24.1%. An index of…

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NAR Demonstrates the Many Ways Realtors Are Here for Clients in Newly Released Ad Campaign

February 23, 2023

WASHINGTON—The National Association of Realtors unveiled on Feb. 22 its fifth iteration of its award-winning “That’s Who We R” national advertising campaign. This year’s creative demonstrates the many ways Realtors are “here for it all,” working to make the dream of property ownership a reality for their clients. The campaign, created by Havas Chicago, further…

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