News

Orange County Partnership Hands Out Honors

December 2018

NEW WINDSOR—A record crowd attended the 32nd annual Orange County Partnership awards event held on Dec. 4 at Anthony’s Pier 9 here. The partnership handed out its top awards at the event, that also featured a special tribute to outgoing New York State Senators John Bonaccic and Bill Larkin. From left, New York State Senators…

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Marlene Zarfes Named New Exec. Director Of Westchester Residential Opportunities

December 2018

WHITE PLAINS—Westchester Residential Opportunities, Inc., a non-profit housing counseling organization, announced on Dec. 3 the promotion of Marlene Zarfes to the position of Executive Director. Zarfes joined WRO in 2010, serving as Fair Housing Director and then as Deputy Executive Director. Before joining WRO, she had a long career as a corporate attorney, most recently…

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Yonkers IDA Approves Adaptive Reuse ‘Mill’ Project

December 2018

YONKERS—The Board of Directors of the Yonkers Industrial Development Agency has approved a resolution of intent earlier this month with the developer of a former loft warehouse in the Carpet Mills Art District. The project by Momentum Realty Associates of Yonkers will convert the light-industrial building at 222 & 252C Lake Street into an office…

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Lakeview Plaza Shopping Center Trades for $12 Million

December 2018

SOUTHEAST, NY—The grocery-anchored Lakeview Plaza Shopping Center here has been acquired by Greenwich, CT-based Urstadt Biddle Properties of Greenwich, CT in what the new owner calls a “deep discount” at $12 million. The retail REIT has added the 177,000-square-foot shopping center on Route 22 to its portfolio of more than 5 million square feet. The…

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Most Counties in HGAR Region See Increased Home Loan Limits

December 2018

WASHINGTON—On Nov. 27, the Federal Housing Finance Agency announced it will raise the national conforming loan limit for 2019 by 6.9% from $453,100 to $484,350. In addition, the high-cost limit will rise from $679,650 to $726,525. As a result, loan limits will be higher in all but 47 counties or county equivalents across the country…

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December Legislative Update: Proposed Increase to Residential Appraisal Threshold

December 2018

On Nov. 20, 2018, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively "the agencies") released a proposed rule that would increase the current threshold for residential real estate transactions requiring an appraisal to $400,000. The current threshold is $250,000.…

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Rising Prices and Rates Cause New Home Sales to Fall Sharply

November 2018

WASHINGTON—Sales of newly built, single-family homes fell to a seasonally adjusted annual rate of 544,000 units in October after an upwardly revised September report, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the lowest sales pace since December 2016. However, on a…

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NAR: Existing-Home Sales Increase for the First Time in Six Months

November 2018

WASHINGTON—Existing-home sales increased in October after six straight months of decreases, according to the National Association of Realtors. Three of four major U.S. regions saw gains in sales activity 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, increased 1.4% from September to a seasonally adjusted…

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March of Dimes Hands Out Annual Real Estate Awards

November 2018

From left; Joseph Simone, president, Simone Development Companies and presenter of the Martin S. Berger Award for Lifetime Achievement; Patricia Valenti, executive managing director, Newmark Knight Frank, and Chair of the 2018 Real Estate Awards Breakfast; Michael Weinstock, Market President-Connecticut, M&T Bank and recipient of the March of Dimes Legacy Award; Peter S. Duncan, president…

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Survey Suggests Strong Black Friday Sales Expected

November 2018

NEW YORK CITY—A survey released recently by the International Council of Shopping Centers reports that retailers are gearing up for another successful Thanksgiving Weekend as consumers plan to spend an average of $554.90 with $207.30 dedicated to holiday gifts. Omnichannel retailers stand to benefit the most, with 93% of shoppers planning to spend with retailers…

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Serendipity Labs to Open New Location in Downtown White Plains

November 2018

WHITE PLAINS—Co-working firm Serendipity Labs continues to expand its suburban and secondary market offerings and has announced plans to open new locations at properties in White Plains and Buffalo, NY, in a suburb of Milwaukee and in Downtown Cincinnati. The Rye-based company announced three new management contracts and a letter of intent in a fourth…

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Purple Heart Museum in New Windsor To Undergo $10-Million Expansion

November 2018

NEW WINDSOR—Governor Andrew M. Cuomo announced on Nov. 12 that a $10-million expansion of the National Purple Heart Hall of Honor in New Windsor is planned. The expansion is geared at further recognizing and paying tribute to those who have been awarded the Purple Heart, America's oldest military decoration. The expansion will include a new…

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Realtors Express Confidence in CRE in 2019

November 2018

BOSTON—While challenges face many of America’s commercial real estate markets, Realtors specializing in the sector should have confidence for growth to remain steady in the coming year. That’s according to the sentiments of two economists who spoke at a commercial economic issues and trends forum at the recent 2018 Realtors Conference & Expo in Boston.…

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NYC Investment Firm Doubles Down on Yonkers

November 2018

YONKERS—In a span of less than a week, New York City-based investment firm AMS Acquisitions LLC acquired two major downtown parcels here that could bring significant new development to the district and adjacent waterfront. AMS Acquisitions LLC, which earlier this month acquired the Chicken Island property from the City of Yonkers, announced on Nov. 9…

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Rhinebeck Brokerage Joins Houlihan Lawrence

November 2018

RHINEBECK—H.H. Hill Realty Services Inc., a prominent boutique firm with deep roots in Rhinebeck, has recently joined Houlihan Lawrence’s Hudson Valley brokerage team. H.H. Hill, which has a vintage, family-owned office on Montgomery Street in the heart of the Village of Rhinebeck, has six agents who specialize in the sale and purchase of Hudson River…

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Amazon Reportedly Plans to Locate HQ2 in Long Island City, Dallas or Virginia

November 2018

NEW YORK—While the online retailing giant has yet to announce its intentions, multiple press reports state that Amazon has decided to split its highly sought after HQ2 requirement or its second corporate headquarters to two locations and the finalists are: Long Island City, Queens; Crystal City, VA and Dallas. The Seattle-based company last year announced…

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Former Yonkers Mayor Martinelli Passes Away at the Age of 91

November 2018

YONKERS, NY—Former City of Yonkers Mayor Angelo Martinelli, the longest serving mayor in the city’s history, passed away peacefully at his home on Oct. 27 at the age of 91. Martinelli served as Mayor of Yonkers from 1974 to 1979, and from 1982-1987. The mayor’s passing was first reported by the Office of Yonkers Mayor…

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