News

Toll Brothers Acquires Out Parcels At Former GM Assembly Plant

January 2018

SLEEPY HOLLOW— The development team at the former General Motors assembly plant here has announced that homebuilder Toll Brothers has signed an agreement to purchase and build out lots in Phase 1 of the project. It is anticipated that Toll Brothers will build as many as 306 units of housing, including 61 affordable workforce and…

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Water Park Project Under Construction At Resorts World Catskills Campus

January 2018

MONTICELLO—Camelback Resorts announced on Jan. 16 its The Kartrite Hotel & Indoor Waterpark project is under construction at the Resorts World Catskills campus located in the Town of Thompson in Sullivan County. Set to open in early 2019, The Kartrite will feature two acres of four-season indoor waterpark space and a luxury hotel with 324…

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Ginsburg Pays $54M for The Landing on Mohegan Lake

January 2018

MOHEGAN LAKE—Ginsburg Development Companies has paid $54 million for The Landing on Mohegan Lake, a lakefront multifamily rental community featuring 207 one- and two–bedroom apartments here. GDC acquired the property from New Chalet Apartments, Inc., a private equity group based in Dallas, TX. Jeffrey R. Dunne, of CBRE’s Stamford, CT office, was the broker in…

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National Association of Realtors Restructures Senior Management Team

January 2018

CHICAGO—The National Association of Realtors has announced a new internal organizational structure and changes to its senior management team to more effectively and efficiently serve its 1.3 million Realtor members. "This reorganization reflects the promise I made when I was named CEO last August to create better efficiencies in engaging with and serving the association's…

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Mamaroneck Chamber Honors Murphy Brothers Firm

January 2018

MAMARONECK—Sean and Chris Murphy, owners of locally-based Murphy Brothers, were recently honored at the 2018 Mamaroneck Chamber of Commerce Dinner held at the Beach Point Club here. Mamaroneck Chamber President Susan Fuller of Orange Bank & Trust recognized both men and their firm for their many contributions to the local community over the years in…

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SPOTLIGHT ON: Robert Shandley

January 2018

Get the Picture: If you know Robert Shandley, you know he rarely travels anywhere without a camera in his hands. Shandley, a new HGAR Director for 2018, can be seen at almost every HGAR event, snapping photos of smiling faces throughout the Hudson Valley. From the Women’s Council of Realtors breakfasts, to RPAC happy hours…

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Westchester County Exec. Latimer Vows to Work With GOP to Overcome Today’s Challenges

January 2018

TARRYTOWN—Both at his recent inauguration and again in a speech before the Westchester County Association earlier this week, Westchester County Executive George Latimer stressed that his administration will be one that promotes “respect and cooperation” and will solicit ideas from both sides of the aisle. An overflow crowd attended the inauguration of the 64-year-old veteran…

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Brokers Bullish on Commercial Office Market in Region With Exception of Northern Westchester

January 2018

WHITE PLAINS—Commercial brokers believe that the commercial office market in Westchester County is strong enough that if conditions continue over the next few years the county could see the first new commercial office development project in decades. Approximately 80 real estate professionals attended the annual Commercial Broker Roundtable program staged by the Hudson Gateway Association…

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Hudson Valley Home Sales Continue to Increase, But at Lower Rate

January 2018

WHITE PLAINS—2017 proved to be another positive year for residential sales in the Hudson Valley following the remarkably strong sales of 2016. Participants in the Hudson Gateway Multiple Listing Service Inc., a subsidiary of the Hudson Gateway Association of Realtors, Inc., reported total residential sales of 18,854, which was a 4% increase in sales over…

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Reps. Lowey, King Introduce Bill to Restore SALT Deductions

January 2018

WASHINGTON—Two members of the New York State delegation in Congress have introduced bipartisan legislation to restore the state and local tax deduction that was capped at $10,000 as part of the federal tax reform plan passed late last month. U.S. Reps. Nita Lowey (D-NY-17/Rockland-Westchester) and Peter King (R-NY-2/Nassau-Suffolk) introduced the “SALT Deductibility Act” on Jan.…

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Trustco Bank Expands to Putnam County

January 2018

Trustco Bank hosted a ribbon cutting and grand opening of its newest branch at 945 South Lake Blvd. in Mahopac on December 15th. The branch marked the bank’s entrance into Putnam County. Glenville, NY-based TrustCo Bank Corp. NY is a $4.9-billion savings and loan holding company and through its subsidiary, Trustco Bank, operates branch offices…

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NAR: The Impacts of the Tax Cuts and Jobs Act On Consumers and Real Estate Professionals

January 2018

Editor’s Note: The National Association of Realtors recently posted on its website an extensive analysis of the recently passed federal Tax Reform and Jobs Act. The following are extensive excerpts of that analysis. WASHINGTON—The National Association of Realtors worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate…

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HGAR’s 2017 President Wraps up Year with Free Networking Events

January 2018

WHITE PLAINS—2017 HGAR President Dorothy Botsoe ended her year in office the same way that she started it—offering free networking outreach events to the HGAR membership in Westchester, Putnam, Rockland and Orange counties, as well as the Bronx. Her 2017 Holiday Networking events began in November at the Mix Cocktail Bar at the Crowne Plaza…

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Gov. Cuomo Promises to Sue Feds Over Tax Reform; Restructure State Tax System

January 2018

ALBANY—Gov. Andrew Cuomo in his “State of the State” address on Wednesday here vowed that the state will file suit against the recently enacted federal tax reform law and will also study restructuring the state’s income tax revenue system. Calling the federal tax reform law an “arrow aimed at New York’s economic heart,” Gov. Andrew…

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Study Ranks New York Third in Nation in Move-Outs

January 2018

ST. LOUIS, MI—New York State ranked third behind Illinois and New Jersey in out migration, according to a study released recently by moving company United Van Lines. The United Van Lines' National Movers Study stated that more Americans are moving westward, while the Northeast and Midwest continued to lose residents. In 2017, more residents moved…

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Residential Sector Continues to Drive Bronx Building Boom

December 2017

NEW YORK CITY—New construction starts in the Bronx are expected to surpass the $2-billion plateau in 2017, according to a report released today by the New York Building Congress. While several new large public works projects came on line this year, the residential housing sector in the borough accounted for more than 50% of the…

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Home Sales Ending Year Strong, Pending Sales Rise Slightly

December 2017

WASHINGTON—Recently released reports on existing home sales and pending sales in November released by the National Association of Realtors showed strong sales activity. However, NAR predicts conditions will weaken somewhat in the new year. The National Association of Realtors reported on Dec. 27 that pending home sales were mostly unmoved in November, but did squeak…

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René Jones Named Chairman and CEO of M&T Bank Corp.

December 2017

BUFFALO, NY—Following the sudden death of its longtime chairman and CEO Robert G. Wilmers earlier this month, M&T Bank Corp. announced on Dec. 20 that René F. Jones was appointed chairman and CEO of M&T and its principal banking subsidiary, M&T Bank. He was also elected to the Board of Directors of both M&T Corp.…

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