News

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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HG Realtor Foundation to Host Holiday Party on Nov. 29

November 2018

WHITE PLAINS—The Hudson Gateway Realtor Foundation will return to the Westchester Hills Golf Club in White Plains for its 2018 Holiday Party on Thursday, Nov. 29 from 6:00 p.m. to 9:30 p.m. The event will include a one-hour open bar, appetizers, buffet dinner, DJ and dancing. In addition, attendees will have the chance to win…

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Record Crowd Attends 102nd Annual HGAR Annual Meeting and Members’ Day Event

November 2018

TARRYTOWN—A record crowd of approximately 1,500 members and affiliates attended the 102nd Annual Meeting and Member’s Day of the Hudson Gateway Association of Realtors held on Oct. 29 at the Doubletree Hotel in Tarrytown. During the association business portion of the program, HGAR membership elected the 2019 slate of HGAR directors that will be headed…

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LEGISLATIVE AFFAIRS: Co-op Bill Advances to the Full Legislature

October 2018

On Monday, Oct. 29th the Westchester County Board of Legislators finally held a public hearing on the co-op disclosure bill. Realtor members of the Hudson Gateway Association of Realtors spoke in favor of the compromise bill. The bill calls for a 15-day time period in which a board must notify an applicant they received the…

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Brokerage Studies Market Changes Since ‘The Great Recession’

October 2018

RYE BROOK—Houlihan Lawrence released a report on Oct. 18 that examined in depth the impacts of the Great Recession on the housing market in Westchester County, the Hudson Valley and Fairfield County, CT. In the introduction to its overall findings, Houlihan Lawrence described how the Great Recession changed the New York City suburban real estate…

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U.S. Home Sales Fall in September

October 2018

WASHINGTON—U.S. existing-home sales declined more than 3% in September after a month of stagnation in August, according to the National Association of Realtors. All four major regions saw no gain in sales activity in September. Existing sales in the Northeast fell nearly 3% in September as compared to September 2017. Total existing-home sales, https://www.nar.realtor/existing-home-sales, which…

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