YONKERS—It was a banner year for economic development in the City of Yonkers with the Yonkers Industrial Development Agency providing financial incentives to nearly a dozen projects representing a total private investment of $851 million. The developments supported by the YIDA are projected to create 2,246 new residential units, 105,430 square feet of retail and…
Read MoreNEW ROCHELLE—The unfortunate tale of the troubled College of New Rochelle has officially come to an end after 115 years. The storied College of New Rochelle campus was sold at auction for $32 million to the Trustees of The Masonic Hall & Asylum Fund. The United States Bankruptcy Court approved the sale in a hearing…
Read MoreBRIARCLIFF MANOR—The Club at Briarcliff Manor recently welcomed its first residents to the new senior living community that features assisted living and independent living apartments and memory care. Set atop a scenic wooded site with panoramic views of the Hudson River and once home to the iconic Briarcliff Lodge, The Club at Briarcliff Manor features…
Read MoreRYE BROOK—In recognition of this emerging sector, Houlihan Lawrence Commercial has announced it has formed a new Food, Beverage & Hospitality Group. Headed by Richard Tannebaum, the new group assists solo operators, franchisees, chains, restaurant groups, investors and property owners accomplish their real estate goals. Tannebaum, who has two decades of experience in real estate…
Read MoreWHITE PLAINS—A developer that is seeking to redevelop a vacant office building into a 450-unit rental apartment complex secured a preliminary inducement of $6.57 million in mortgage and sales tax exemptions from the Westchester County Industrial Development Agency. The Westchester IDA granted the incentive package to 3 WPD Apartments LLC, an affiliate of Marcus Partners…
Read MoreALBANY—New York Gov. Andrew M. Cuomo and New York Attorney General Letitia James announced that New York, Connecticut, Maryland and New Jersey have filed a notice of appeal to the U.S. Court of Appeals for the Second Circuit to continue litigation against the federal government for what they term as the unlawful and unprecedented cap…
Read MoreNANUET—Mill Creek Residential Trust of Boca Raton, FL and an unnamed partner have acquired the 504-unit The Peaks of Nanuet apartment community here in what is believed to be a record deal in Rockland County. The firm purchased the property from a partnership of New York City-based Harbor Group International and Azure Partners. The deal…
Read MoreThe Ferndale Shopping Center, an 84,000-square-foot retail property in Larchmont, has been acquired by Ashkenazy Acquisition Corporation from Ten Grand Inc. at a price that exceeded $35 million. Earlier this month, the New York City-based privately-owned real estate investment firm acquired Vernon Hills Shopping Center, a 380,000-square-foot retail asset in Eastchester; Cushman & Wakefield also…
Read MoreCaro serves as co-chair of WRO's Board, and is also co-chair of the Hudson Gateway Association of Realtors’ Legislative Council and is chairperson of the OneKey MLS. She is also a past president of HGAR and HGMLS. WRO also recognized at the Oct. 24th dinner Korey Wise, (right) one of the so-called "Central Park Five"…
Read MoreYONKERS—Executives with property owner Simone Development Companies joined with Yonkers City officials and executives from Fresh & Co. for a ribbon-cutting ceremony on Nov. 15 to celebrate the grand opening of the new health food chain’s location at the Boyce Thompson Center in Yonkers Fresh & Co., which offers chef-inspired organic seasonal food, is occupying…
Read MoreCENTRAL VALLEY—New York Gov. Andrew M. Cuomo announced on Nov. 14 the completion of the $150-million design-build project at the Woodbury Road, Transit and Economic Development Hub in Orange County five years ahead of schedule and in time for the holiday shopping season. The Hub provides improved access to businesses and shopping destinations at Woodbury…
Read MoreNEW YORK—Hudson Yards announced on Nov. 14 it had completed a lease with Facebook for more than 1.5 million square feet of office space across 30 floors and three buildings at Hudson Yards. The lease deal includes approximately 1.2 million square feet at 50 Hudson Yards, approximately 265,000 square feet at 30 Hudson Yards and…
Read MoreNEW YORK—A panel of veteran real estate investors, financiers and brokers took a deep dive at the Global Real Estate Summit NYC 2019 on the health of the New York City metro markets and who will be the sources of needed capital for new development projects. The panel, moderated by Eric Zollinger, president-elect of the…
Read MoreNEW YORK—In an informative, yet concise overview of the recently released ULI “Emerging Trends in Real Estate 2020” report, author Mitch Roschelle, partner with PwC, offered some heartening insights to attendees of the Global Real Estate Summit 2019 Conference and Expo as to why the US real estate market remains a favorite with foreign and…
Read MoreSAN FRANCISCO—Vince Malta, a third-generation Realtor, was installed on Nov. 11 as the 2020 president of the National Association of Realtors during the 2019 Realtors Conference & Expo here. Malta was NAR’s 2019 president-elect and 2018 first vice president. He has been in the industry for 40 years and is a broker at Malta &…
Read MoreHudson Gateway Realtor Foundation volunteers came out recently to donate their time packing grocery bags at Feeding Westchester in Elmsford. Feeding Westchester is a member of Feeding America, the nationwide network of more than 200 food banks serving every state in the United States. Based in Elmsford, Feeding Westchester supplies and distributes food to more…
Read MoreTARRYTOWN—Westchester County Executive George Latimer in a presentation to the business community on his proposed $2.1-billion 2020 Budget touted the $1 million cut in the Westchester County property tax levy that will reduce tax levies in some areas of the county. In a county-produced video presentation to the nearly 200 attendees of the Business Council…
Read MoreWHITE PLAINS—The Westchester County Association has announced that John E. Ritacco, a financial services executive and the former president and CEO of CMS Bancorp Inc., will be appointed Interim President/CEO of the business advocacy organization effective Jan. 1, 2020. The WCA stated that the search for a new leader continues. Ritacco will remain in the…
Read MoreBETHEL, CT—ERA Insite Realty has expanded its brokerage operations to the State of Connecticut. Broker/Owners and founders of ERA Insite Realty Lou and Debra Budetti reported recently the opening of the firm’s fifth office location and the company’s first in Connecticut, located in Bethel in Fairfield County. Drew Slack, a 20-year industry veteran who has…
Read MoreEASTCHESTER— Ashkenazy Acquisition Corp. has added Vernon Hills Shopping Center in Eastchester for more than $125 million from Vernon Hills Shopping Center LLC. The five-building, mixed-use property, totaling more than 380,000 square feet at 700 White Plains Road, features a mix of retail, medical and professional credit tenants. The purchase was reported by Cushman &…
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