News

Brooklyn Navy Yard Unveils $2.5 Billion Expansion Plan

February 2018

NEW YORK—The Brooklyn Navy Yard announced on Jan. 31st ambitious plans to significantly grow manufacturing operations at the complex that would add 10,000 new middle-class jobs there. The plan, valued at $2.5 billion, would increase employment at the Brooklyn Navy Yard to 30,000 workers. The plan is the culmination of a two-year process that examined…

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HGAR, LIBOR in Talks to Create Regional MLS

February 2018

WHITE PLAINS—The respective leadership of the Hudson Gateway Association of Realtors and the Long Island Board of Realtors, the two largest Realtor organizations in New York State, announced on Feb. 1 that the two Realtor groups are in negotiations to create a regional multiple listing service that would service approximately 36,000 subscribers. When the Memorandum…

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White Plains Retail Building on Mamaroneck Avenue Trades

January 2018

WHITE PLAINS—A single-tenant retail building on Mamaroneck Avenue here has been sold for $2.1 million. Brokerage firm Marcus & Millichap represented the seller, a private investor, in the sale of 75 Mamaroneck Ave., according to John Krueger, regional manager of the firm’s Manhattan office. P.M. Gillen Tutoring Service acquired the 5,300-square-foot single-tenant retail building. Paul…

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Standard and Poor’s Upgrades Rockland County’s Bond Rating to A-

January 2018

NEW CITY—The financial turnaround of Rockland County continues. On Jan. 30, Rockland County Executive Ed Day announced that Standard and Poor's increased the county’s bond rating to A- rating. The rating increase from BBB+ by Standard and Poor's is the county's sixth consecutive bond upgrade since 2014, when Rockland's bonds were rated just above junk…

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New York, Connecticut and New Jersey to Sue Over Tax Reform

January 2018

ALBANY—A coalition has been formed consisting of the states of New York, New Jersey and Connecticut that intend to file suit against the federal government over the recently enacted federal tax reform law. The suit, which has yet to be filed, specifically targets changes made to state and local tax deductibility. The Tax Cuts and…

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Residential Home Sales Bull Market to Continue in 2018

January 2018

WHITE PLAINS—The residential home sales market in the Hudson Valley remained robust in 2017, rising 4% over 2016’s sales totals. However, the rate of growth declined sharply from the 12.5% sales increase posted in 2016. Realtors interviewed by Real Estate In-Depth believe that the positive sales momentum will continue in 2018, despite the expected impacts…

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Barry Kramer Installed as 2018 HGAR President

January 2018

Renee Zurlo to Lead HGMLS for Third Term HARTSDALE—A capacity crowd of more than 250 friends and colleagues was on hand for the 2018 HGAR Installation Dinner highlighted by veteran Realtor Barry Kramer taking the oath of office as 2018 President of the Hudson Gateway Association of Realtors, Inc. The event, which had a festive…

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NAR President Tells HGAR, WCR To 'Own It' in These Challenging Times

January 2018

WHITE PLAINS—National Association of Realtors’ President Elizabeth Mendenhall addressed a packed room of Realtors at the Ritz-Carlton Hotel here on Jan. 22, the first time in recent memory that a sitting NAR President has spoken at a HGAR associated event. Mendenhall spoke with passion and candor concerning the issues facing the Realtor community, including tax…

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Amazon Announces Candidates for HQ2; NYC Among 20 Locations in the Running

January 2018

SEATTLE—The multi-billion dollar sweepstakes for Amazon’s second North American headquarters (HQ2) is now down to 20 locations. Although some New York City suburban locations submitted bids for Amazon’s HQ2 including Westchester County, 19 mostly urban cities and Toronto, Canada made the final 20 cut. Amazon considered a total of 238 proposals. Amazon’s corporate headquarters is…

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Resorts World Catskills Casino to Open Feb. 8

January 2018

MONTICELLO—Resorts World Catskills announced on Jan. 17 plans to open the doors of its luxury casino resort to the public for the first time on February 8th. The opening comes several weeks ahead of the March 1 opening date under the terms of the casino license, issued by the New York State Gaming Commission. The…

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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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