News

Five Questions with New Rochelle Mayor Noam Bramson

August 2020

In launching the new Real Estate In-Depth regular feature “Five Questions With,” the editor and publisher of the print and online newspaper seek to interview key newsmakers of the day and ask probing questions on matters that affect the readership’s business and day-to-day lives, but also provide insight into how and why certain decisions were…

Read More

Local Government Sales Tax Collections Fell 8.2% in July

August 2020

ALBANY—As the New York State economy continues its reopening process and the state continues to post low COVID infection numbers, local sales tax collections are improving, although still down compared to last year. Sales tax revenue for local governments in July fell 8.2% compared to the same period last year, according to New York State…

Read More

NAR Reports U.S. Metro Home Prices Grow in 96% of Metro Areas in Second Quarter

August 2020

WASHINGTON— In the era of COVID-19, the value of homes seems to have some immunity to the virus. The overwhelming majority of the nation’s metro areas enjoyed home price increases in the second quarter of 2020, according to the latest quarterly report by the National Association of Realtors released today. Median single-family home prices rose…

Read More

HGAR Annual Meeting to be Held Virtually for First Time in History

August 2020

WHITE PLAINS—The Hudson Gateway Association of Realtors’ 104th Annual Meeting & Member Appreciation Day will be like none other in the association’s history. The October gathering, which normally draws more than 1,200 Realtors and related professionals to the DoubleTree Hotel in Tarrytown, will be held virtually this year, via Zoom webinar, for safety concerns as…

Read More

Realtor Survey Finds Annual Foreign Investment in U.S. Home Sales Declines 5%

August 2020

WASHINGTON—Foreign buyers purchased $74 billion worth of U.S. existing homes from April 2019 through March 2020, a 5% decrease from the previous 12-month period and the second consecutive annual decline in foreign investment in U.S. residential real estate, according to a new survey from the National Association of Realtors. Foreign buyers purchased 154,000 properties, down…

Read More

Nearly $53M Redevelopment, Refinancing Of Fort Schuyler House in Bronx Complete

August 2020

NEW YORK—Fort Schuyler House, Inc., MDG Design + Construction, LLC, Smith & Henzy Advisory Group, Inc., Concord Management of New York, and partners recently celebrated the completion of the $52.7-million revitalization and refinancing of Fort Schuyler House, an affordable senior housing development in the Bronx. The project preserves the affordability of Fort Schuyler House’s 138…

Read More

Onyx Equities Signs E-Commerce Tenant To 200,000 SF Deal in Rockland County

August 2020

BLAUVELT—Commercial brokerage firm CBRE announced on Aug. 4 that it has secured a 200,775-square-foot lease across two buildings in the Hudson Crossing Industrial Park in Blauvelt. The unnamed e-commerce tenant will occupy 123,999 square feet of space at 400 Oritani Drive and 76,776 square feet of space in the neighboring building at 200 Oritani Drive.…

Read More

NYC Comptroller Urges City Act Now To Bridge Future Budget Shortfalls

August 2020

NEW YORK—New York City Comptroller Scott M. Stringer released a report on Aug. 3 on New York City’s Fiscal Year 2021 Adopted Budget that found an overreliance on one-time actions in the adopted budget to close the $8.33-billion shortfall brought about by the economic crisis caused by the COVID-19 pandemic. With significant budget gaps looming…

Read More

Keller Williams Signs 20,000 SF Sublease Near Grand Central

August 2020

NEW YORK—Helmsley Spear, LLC, reported recently it had brokered a 20,000-square-foot sublease with Keller Williams for the 10th floor of 99 Park Ave. Gould Paper Corp., the current tenant, will continue to occupy 8,718 square feet of the space. The sublease term runs through December, 2023. The Helmsley Spear leasing agents for this sublease were…

Read More

HGRF Volunteers Brave the Heat to Help Clean Up Twin Lakes Park

July 2020

EASTCHESTER—Despite temperatures soaring into the 90's, a group of dedicated Hudson Gateway Realtor Foundation volunteers braved the heat and humidity recently to help clean up Twin Lakes Park in Eastchester. The volunteers were on land and in canoes, hand-pulling water chestnuts, which are invasive aquatic plants in the lake. The clearing project not only served…

Read More

Ramapo-Based Investment Firm Reportedly Acquires NJ Complex for Nearly $34 Million

July 2020

MORRISTOWN, NJ—An affiliate of Northeast Capital Group, which is based in Rockland County, has acquired the Offices at Bedminster office complex here from New York Life Real Estate Investors. Commercial brokerage firm JLL marketed the 194,000-square-foot office complex for seller New York Life Real Estate Investors. JLL did not disclose the sale price. In a…

Read More

Yorktown Joins Growing List of Municipalities to Launch Marketing Campaign

July 2020

YORKTOWN—Joining the City of Yonkers and the Town of Cortland, which recently inaugurated efforts to attract new business, the Town of Yorktown has launched a new marketing campaign that will promote the Northern Westchester municipality as a prime investment and relocation destination. The campaign’s theme—Yorktown: Up where you belong!—is a nod to the town’s welcoming…

Read More

WRO Seeking Donations for Upcoming Online Fundraiser

July 2020

WHITE PLAINS—Donations are now being accepted for a planned online (Facebook) auction to benefit Westchester Residential Opportunities, Inc., a White Plains-based non-profit organization whose mission is to promote equal, affordable and accessible housing opportunities for all residents of our region. Please help WRO prevent mortgage defaults and evictions during this difficult time. Anyone wishing to…

Read More

State Senate Passes Bill Penalizing R.E. Brokers For Engaging in Housing Discriminatory Practices

July 2020

ALBANY—The New York State Senate overwhelmingly passed legislation (S.6874A) on July 22 to hold real estate professionals accountable for discriminatory housing practices. The bill, sponsored by Senator James Gaughran, penalizes licensed real estate brokers and salespersons by either revocation or suspension of their licenses, or makes them subject to a fine if they violate the…

Read More

Global Site Selector Tells OC Partnership to ‘Keep Calm and Embrace the Chaos’

July 2020

While most economic news of late in this time of the coronavirus is usually described as “bleak” or “grim,” an international site selector speaking to a virtual meeting of the Orange County Partnership on July 22 indicated that the county’s prime location, available workforce and lower cost of land and housing will attract investment, particularly…

Read More

NAR Looks to Drum Up Support for Rep. Maloney’s ‘First Time Homebuyer Pandemic Savings Act’

July 2020

WASHINGTON—U.S. Rep. Sean Patrick Maloney (NY-18) introduced the “First Time Homebuyer Pandemic Savings Act” on Wednesday (July 22), a new bill that will help first-time homebuyers realize their dreams of homeownership, during and after America’s recovery from the coronavirus public health and economic crisis. Shortly after its introduction, the National Association of Realtors issued a…

Read More

NAR: Existing-Home Sales Climb Record 20.7% in June

July 2020

WASHINGTON—As states across the nation continued to reopen their economies, existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic. A report released today indicated that each of the four major regions achieved month-over-month growth, with the…

Read More