PURCHASE— Broadview – Senior Living at Purchase College is moving forward with its development of 220 independent living homes for ages 62 and older. When built, the project will be the first senior housing development to be located on a college campus in Westchester County. The firm expects to begin construction on the development project…
Read MoreNEW WINDSOR—The Southgate Village Apartments here has been acquired by an affiliate of JP Management for $19 million. Woodbridge, NJ-based The Kislak Company Inc. reported the sale of the 192-unit multifamily property. Kislak marketed the property at 2300 Vails Gate Heights Drive on an exclusive with senior vice president Janet Bortz handling the assignment on…
Read MoreTARRYTOWN—Despite the current soft luxury housing market in Westchester County, the Greystone on Hudson development here recently enjoyed a busy spring sales season. Houlihan Lawrence, the exclusive marketing and sales agent for the 23-unit Greystone on Hudson, reports that sales in May topped $14.5 million which included the sale of 20 Carriage Trail for $9.5…
Read MoreWASHINGTON—Existing-home sales in the U.S. weakened in June falling less than 2% after a previous month of sales gains, the National Association of Realtors reported on July 23. Two of the four major U.S. regions recorded minor sales jumps, including the Northeast (+1.5%), while the other two—the South and the West—experienced greater declines last month.…
Read MoreNEW YORK —New York State Attorney General Letitia James filed a lawsuit on July 17 against the Internal Revenue Service, along with New Jersey, and Connecticut, that argued against the new IRS Rule that would prevent residents from obtaining charitable deductions for contributions to local governments. “The IRS’s move to end tax benefits for charitable…
Read MoreWHITE PLAINS—The residential home sales market in the Hudson Valley continues to be a tale of two markets. Due in part to the impacts of the SALT deduction cap imposed by federal tax reform, and low for-sale inventory, sales declined in the second quarter in most markets serviced by members of the Hudson Gateway Association…
Read MoreSOMERS—Perhaps the most significant project in Northern Westchester County since the IBM property and nearby PepsiCo buildings were constructed here more than three decades ago is set for a public hearing next month. The Somers Town Board announced at its session on July 11 that a joint meeting between the Town Board and other municipal…
Read MoreWHITE PLAINS—The Westchester County Board of Legislators approved a new long-term lease for a new county Family Court location in New Rochelle at a building to be constructed near the New Rochelle Transit Center. The Board of Legislators approved on July 15 a 30-year lease with landlord The Mark95, LLC for 35,000 square feet at…
Read MoreRYE—New York City-based real estate investment firm George Comfort & Sons, in partnership with the Feil Organization and O’Connor Capital Partners, has added the former Avon Global Data Center here to its Westchester office portfolio. The 176,000-square-foot multi-purpose facility situated on 18.13 acres at 601 and 621 Midland Ave. was sold by Avon Capital Corp.…
Read MoreELMSFORD—Robert Martin Company LLC recently held a pair of broker events in both Westchester and Fairfield counties, sharing information about the firm’s recently-acquired 3.1 million-square-foot industrial/flex portfolio. In March, Robert Martin Co. completed its acquisition of Mack-Cali Realty Corporation’s 56-building industrial/flex portfolio for $487.5 million, marking the largest commercial real estate transaction in Westchester County…
Read MoreWHITE PLAINS-After securing the approval of the Westchester County Industrial Development Agency to assign the rights to financial incentives for The Collection mixed-use project here, Toll Brothers Apartment Living acquired the 2.97-acre fully approved development site for $32.76 million. Saber Real Estate Advisors, LLC, which secured the approvals for the $136.2 million mixed-use residential development…
Read MoreALBANY — The New York State Public Service Commission approved on July 11 the implementation of a consumer awareness campaign to encourage the installation of renewable energy and energy efficiency resources in Westchester County. The program was developed in consultation with the New York State Energy Research and Development Authority (NYSERDA) and Westchester County to…
Read MoreRYE—Grand Lux Realty of Armonk recently announced the closing of 300 Grace Church St. in Rye for a sale price of $4,651,667. The transaction, which closed on May 22nd, was the most expensive in the history of Grand Lux Realty. The seven- bedroom, six-and-a-half bath colonial was sold by Shauna Brika, a new agent at…
Read MoreALBANY—Gov. Andrew M. Cuomo announced on July 11 the first round of funding for the $15-million Future Grid Challenge, a program to help solve technical challenges utilities face with energy transmission and distribution when integrating renewable energy resources into New York's electric grid. In this first round of funding, up to $6 million is available…
Read MoreCARMEL—The Putnam County Economic Development Corp. (EDC) announced on July 9 that Kathleen Dennehy Abels was named president of the agency. Abels began working at PEDC effective July 1. Abels has decades of experience in public relations, customer service, marketing, construction and project management. She recently completed a career at New York State Electric &…
Read MorePORT CHESTER—Starwood Capital Group, which acquired the shuttered United Hospital property here 13 years ago and proposed a $450-million redevelopment at the site, has sold the complex to partners Rose Associates and BedRock Real Estate Partners of New York City. No financial details of the transaction were disclosed. The sale of the 15.45-acre site that…
Read MoreWASHINGTONVILLE—Aurochemicals, a manufacturer of natural aroma ingredients for the flavor and fragrance industry, marked the official opening of a brand-new, $2.5-million warehouse facility with a ribbon cutting ceremony on July 9. Local dignitaries, including Orange County Executive Steven Neuhaus; Village of Washingtonville Mayor Joseph Bucco and Orange County Chamber of Commerce President and CEO Lynn…
Read MoreWASHINGTON—The Mortgage Bankers Association's first quarter of 2019 Commercial/Multifamily DataBook was released earlier this month. The quarterly report summarizes major trends that developed during the first three months of the year. "Low interest rates and strong property values continue to make commercial real estate an attractive market for borrowers," said Jamie Woodwell, MBA's vice president…
Read MoreYONKERS—Global commercial real estate advisory firm Newmark Knight Frank announced on July 2 it had arranged a $70-million fixed-rate loan for the financing of the River Club at Hudson Park in Yonkers on behalf of Strategic Capital, the investment arm of China Construction America. The Newmark Knight Frank team was led by Dustin Stolly and…
Read MoreEditor’s Note: The following is the text of the 2019 SECOND QUARTER RESIDENTIAL REAL ESTATE SALES REPORT Westchester, Putnam, Rockland, Orange, Sullivan Counties, New York released on July 8th by the Hudson Gateway Multiple Listing Service Inc. Residential sales for the second quarter in the lower Hudson Valley region served by the Hudson Gateway Multiple…
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