News

Project Update: Resorts World Catskills Readies for March 2018 Opening

November 2017

THOMPSON, NY—The tourism industry in the Hudson Valley will likely never be the same in just a few months because in mid-February a new player in the casino gaming industry in the Northeast will arrive—the $1.3 billion Resorts World Catskills casino resort. The first delivery of what will eventually be 2,157 high-tech slot machines arrived…

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Public, Private Institutional Construction Booming in New York City

November 2017

NEW YORK—Public and private institutional construction starts in New York City through the third quarter of this year totaled approximately $4.2 billion, well above the $3.7 billion this sector produced all of last year. Paced by major projects, such as the $1.2-billion Jacob K. Javits Convention Center expansion and other major initiatives, the total for…

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Health Care, Communications, Tech Sectors Key Drivers of Commercial Real Estate Market in Westchester

November 2017

WHITE PLAINS—Tenant demand by health care, technology and communications concerns, particularly along the I-287 corridor, are helping bolster Westchester County’s commercial office market. Commercial brokerage firms Houlihan Lawrence and JLL recently released respective third quarter 2017 market reports for Westchester County. For the most part the two firms agreed on a number of positive prevailing…

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Empire City Casino at Yonkers Exploring Partnership or Sale

November 2017

YONKERS—Empire City at Yonkers Raceway has retained J.P. Morgan Securities LLC to identify a strategic partner or perhaps explore a possible sale as it looks transform the highly successful racing and casino venue into a global gaming and entertainment destination. In its announcement released on Nov. 15, Empire City Casino officials said that JP Morgan…

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Rep. Lowey, HGAR Condemn Devastating Impact of GOP Tax Plan

November 2017

WHITE PLAINS—U.S. Rep. Nita Lowey (D-NY-17) and the Hudson Gateway Association of Realtors held a joint press conference at the HGAR headquarters in White Plains on Nov. 13 to highlight the devastating impacts the U.S. House and Senate tax reform plans would have on middle class taxpayers in the Hudson Valley. “The numbers are in,…

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Astorino Names Macquarie Infrastructure To Run Westchester County Airport

November 2017

WHITE PLAINS—Westchester County Executive Robert P. Astorino announced on Nov. 9th that he had selected Macquarie Infrastructure Corporation to operate Westchester County Airport as part of a $1.1-billion public-private partnership dedicated to improving this vital county asset without expanding its footprint. Macquarie was the unanimous choice of a bi-partisan task force made up of members…

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Greenburgh Approves Regeneron Expansion Plan

November 2017

GREENBURGH—The Town Board of Greenburgh approved earlier this month the site plan application of Regeneron Pharmaceuticals of Tarrytown for a new research and development campus on a portion of a 100-acre parcel in the northern section of the town. Town Supervisor Paul Feiner announced that the Town Board granted site plan approval and a negative…

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White Plains Common Council Approves Controversial French-American School

November 2017

WHITE PLAINS—After nearly seven years in the approval process and in court proceedings, the White Plains Common Council earlier this month approved the controversial adaptive reuse of the former Ridgeway Country Club into a campus for the French-American School of New York. The council approved the scaled-down project by the required super majority (5-2) that…

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Putnam’s Walker Joins Trump Administration

November 2017

CARMEL—Bruce J. Walker has resigned as the Deputy County Executive of Putnam and  was confirmed by the U.S. Senate as Assistant Secretary for the Office of Electricity Delivery and Energy Reliability at the U.S. Department of Energy, Putnam County officials announced on Nov. 1. Walker, a Mahopac native who lives with his wife, Lisa and…

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Gov. Cuomo Says GOP Tax Plan has ‘Diabolical Dimension’

November 2017

ALBANY—New York Gov. Andrew Cuomo joined a chorus of business and political leaders to voice his opposition to the GOP tax reform plan released on Thursday by the U.S. House Ways and Means Committee. In a statement released to the press, the governor did not mince words saying the tax cut plan by the GOP…

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St. Christopher’s, Greenburgh-North Castle School District Partner to Launch ‘Cares’ Program for Hurricane Victims

November 2017

Residents of Houston, TX, Florida, Puerto Rico and the Caribbean are still struggling to recover from the devastating Hurricanes of Harvey, Irma and Maria that left multi-billion dollar paths of destruction. In a grass-roots effort to aid hurricane victims, St. Christopher’s Inc. and the Greenburgh-North Castle Union Free School District have joined forces to create…

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Barry Kramer Named Realtor of the Year at HGAR Annual Meeting

November 2017

Stephanie Liggio Wins Affiliate of the Year Award TARRYTOWN—More than 1,000 members of the Hudson Gateway Association of Realtors participated in the HGAR’s 101st Annual Meeting held on Oct. 30th at the DoubleTree Hotel in Tarrytown. The business portion of the all-day event was highlighted by the election of HGAR Officers and Directors, who will…

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Low Inventory, Affordability Stifles First Time Buyer Demand

November 2017

WASHINGTON—Despite solid interest in buying a home—sparked by steady job gains, record low mortgage rates and higher rents—the severe drought in housing supply in much of the country over the past year as well as accelerated price growth kept many first-time buyers out of the market. This is according to the National Association of Realtors'…

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LCOR Begins Marketing Residential Tower in White Plains

November 2017

WHITE PLAINS—Developer LCOR announced recently the completion of construction and the debut of its residential tower project near the White Plains Metro North train station called “Continuum.” The tower building is the first phase of a $250-million twin tower mixed-use project. Located at 55 Bank St., Continuum features a 16-story tower with 288 residences and…

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Brokerage Firm Predicts Continued Growth Despite Changing Face of Retail

November 2017

HARRISON—In recent months, industry experts and media outlets have claimed the same thing: retail is dead. Brick and mortar has seemingly been replaced by omni-channel shopping, with many industry cornerstones and “Mom and Pop” shops shuttering doors across the country. While many in the industry have started to pull away from the retail sector, commercial…

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Report: Trump Plan Could Cost New Yorkers $72B in State, Local Tax Deductions

October 2017

ALBANY—New York State residents could lose more than $72 billion in reported income and property tax deductions if the current Big 6 tax reform plan is enacted. New York State Comptroller Thomas DiNapoli in a report released on Oct. 27th said the tax reform plan calls for eliminating most itemized deductions, including state and local…

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Yonkers Mayor Spano Says City is Looking to Change its Image

October 2017

WHITE PLAINS—Yonkers Mayor Mike Spano, who was the keynote speaker at HGAR’s Commercial Investment Division on Oct. 26, said that one of his administration’s main goals has been to change the city’s negative image that at least in part was caused by the school desegregation case that garnered national headlines in the late 1980s. In…

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