News

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 Rockland 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 on 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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Jehovah’s Witnesses Propose 1.5 Million-Square-Foot Production Complex in Ramapo, Tuxedo

October 2019

RAMAPO—The Jehovah’s Witnesses intend to file development plans for a new 1.5-million-square-foot audio-video production facility to be built two miles away from its 1.6-million-square-foot World Headquarters complex in Warwick. The project was revealed during a special event on Oct. 5th following the annual corporation meeting of the Watch Tower Bible and Tract Society of Pennsylvania.…

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$177M Yonkers Project Lands IDA Incentives

October 2019

YONKERS—A $177.3-million waterfront project being developed by New York City-based Rose Associates on Alexander Street here has secured incentives from the Yonkers Industrial Development Agency. The project at 57 Alexander St. that will convert an industrial building into a multifamily complex secured the incentives at the Oct. 2 meeting of the Board of Directors of…

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Megalith Capital Cuts Ribbon on Printhouse Mixed-Use Project in Downtown New Rochelle

October 2019

NEW ROCHELLE—Developer Megalith Capital Management joined New Rochelle Mayor Noam Bramson, City Manager Charles B. Strome III, Commissioner of Development Luiz Aragon and other city officials for a ribbon-cutting ceremony on Oct. 4 to mark the grand opening of the firm’s The Printhouse project. The six-story, 71-unit luxury mixed-use Printhouse development is located at 165…

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Houlihan Lawrence Commercial’s LaPerch Joins HVEDC Advisory Board

September 2019

POUGHKEEPSIE—The Hudson Valley Economic Development Corp. has announced that Tom LaPerch, commercial director with Houlihan Lawrence Real Estate of Rye Brook, has joined its Advisory Board. LaPerch, a 30-year real estate professional with additional expertise in marketing and government land planning, serves as commercial director for Houlihan Lawrence out of the company’s Rye Brook office.…

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HomeGoods Property in Mount Kisco Sells for $6.8M in 1031 Exchange Deal

September 2019

MOUNT KISCO—The HomeGoods retail property at 3 East Main St. here has been sold in a 1031 exchange transaction valued at $6.8 million. The deal for the 24,834-square-foot building on 1.24 acres was reported by tech brokerage and trading platform firm B+E of New York City. The property was sold by The Kempner Corp. of…

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Westchester County Association Officially Launches Search for New Leader

September 2019

WHITE PLAINS—After negotiations ended in June on a proposed merger with the Hudson Valley Economic Development Corp., the Westchester County Association has announced the official launch of a search for a new president and CEO to replace longtime leader William M. Mooney Jr. Mooney will retire as of as of Dec. 31, 2019. The WCA…

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County Executive Bullish on Orange County Economy

September 2019

Orange County Executive Steve Neuhaus says that despite some recent setbacks, business investment is very strong in Orange County. With the LEGOLAND New York resort now under construction and set for a spring 2020 opening, investors and developers have broken ground on new residential, hotel and retail projects, as well as the county’s bread and…

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Support Growing for Route 17 Expansion

September 2019

GOSHEN, NY—The Orange County Legislature, as well as the Town of Goshen and the Village of Harriman in Orange County, and the towns of Bethel, Callicoon, Delaware, Liberty, Lumberland and the Liberty Central School District, have recently joined the growing list of supporters for an expanded Route 17. The initiative is being driven by the…

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Economic Diversity Will Fuel Growth in Orange County

September 2019

GOSHEN—The Orange County economy is rapidly evolving into a diverse set of growing industries that are yielding significant investment and new jobs to the area. A recent briefing by the Orange County Partnership to key business leaders and stakeholders at the Newburgh Brewing Co. in Newburgh showcased the various new projects on the boards and…

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