A new emerging sector of the Hudson Valley’s economy is taking shape and 2018 could be a landmark moment in time when the region, known for its highly popular tourism destinations and quality of life, will see a new $1.2-billion casino resort open its doors in Sullivan County. In addition, if municipal approvals are secured,…
Read MoreHOBOKEN, NJ—Better Homes and Gardens Rand Realty has entered the Hoboken, NJ residential real estate market. The firm reported recently it had acquired Riverside Realty, which is located at 209 Washington St. in Hoboken, NJ. “We received a high demand of requests from agents in Hoboken to find out when we were going to be…
Read MoreYONKERS—Simone Development Companies reported two new leases totaling approximately 9,500 square feet of medical space at the Boyce Thompson Center, a recently completed 85,000-square-foot mixed-use center located in Northeast Yonkers. ColumbiaDoctors, a multi-specialty medical practice affiliated with Columbia University and New York-Presbyterian Hospital, has signed a long-term lease for 6,839 square feet of space on…
Read MoreWHITE PLAINS—Now that Westchester County successfully entered a public-private partnership to manage its Rye Playland amusement park, it is now proceeding toward a possible long-term agreement with a private operator to manage the Westchester County Airport. Three airport operator groups are now competing to take over operations at Westchester County Airport here in a controversial…
Read MoreKnowledge Is Power: The New York State Attorney General and the three credit reporting agencies initiated changes by a settlement agreement that resulted in the birth of an entity known as the “National Consumer Assistance Plan.” This new rule changes the way public records related to civil judgments and tax liens are reported on consumer…
Read MoreWHITE PLAINS—The City of White Plains saw most of the major office leasing transactions in the second quarter, which paced overall activity in Westchester County, according to market reports released recently by a number of major commercial brokerage firms. Colliers International Group reports the City of White Plains followed a strong first-quarter performance with another…
Read MoreAfter a few years of living in Putnam County, I learned that to have a say in local elections you had to vote in the primary, and historically the Republican candidate would win. After a few years, I became a Republican to have a choice of who would wind up in whatever office was being…
Read MoreWASHINGTON— After declining for three straight months, pending home sales reversed course in June as all major regions, with the exception for the Midwest, saw an increase in contract activity, according to a recently released report by the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, climbed…
Read MoreTARRYTOWN—The project that many thought would never be built is reaching a key milestone later this month. At a breakfast meeting of the Association for a Better New York in Manhattan on July 27th, Gov. Andrew Cuomo announced the first of two spans of what is now being called the new Governor Mario M. Cuomo…
Read MoreNEW YORK—Residential real estate brokerage firm Douglas Elliman announced on Aug. 1 that it entered into a contract of sale to acquire Los Angeles-based Teles Properties. Upon closing, the operations of Teles will be under the umbrella of Douglas Elliman, making Elliman the second largest non-franchise brokerage firm in the State of California. Teles partners…
Read MoreNEW YORK—The impending closure of the Indian Point nuclear power plants in Buchanan and other market forces could pose significant risks to the future energy supply of New York City and the Lower Hudson Valley, a recently released report warns. The New York Building Congress released a report earlier this week entitled “Electricity Outlook: Powering…
Read MoreHARRISON—Commercial brokerage firm RM Friedland reports that in the second quarter it closed deals valued at more than $15.1 million totaling 104,806 square feet of space in its market area in Westchester County and the Bronx. The firm reported that its second quarter activity totals included four sales with an aggregate value of more than…
Read MoreGOSHEN—The controversial $500-million LEGOLAND New York project secured a key approval on July 20th of its Final Environmental Impact Statement, a significant hurdle in its bid to win municipal approvals for the project so it can move forward later this year with construction of the theme park. Approximately 200 people packed the Orange County Emergency…
Read MoreGOSHEN—Could the acrimony and litigation between the Town and Village of Monroe and the orthodox Hasidic Jewish community of Kiryas Joel be coming to an end? A proposal is working its way through the Orange County Legislature that could bring a controversial proposal to legally separate what is now the Village of Kiryas Joel from…
Read MoreWHITE PLAINS—A seven-year battle between Westchester County and the U.S. Department of Housing and Urban Development over terms of a controversial fair housing settlement appears to be finally winding down. On July 19th, Westchester County Executive Robert Astorino announced that HUD had accepted the county’s 11th submission of an Analysis of Impediments to Fair Housing…
Read MoreMAMARONECK—The first major residential rental development in the Village of Mamaroneck in 20 years broke ground recently. Village and county officials joined developer Halpern Real Estate Ventures and its partner, The Rosen Development Group, at a groundbreaking ceremony on June 15th for a loft-style development featuring luxury rental apartments and townhouses on a downtown site…
Read MoreSTAMFORD, CT—Reversing a troubling trend of high profile companies announcing headquarters moves outside of the state, the State of Connecticut got some welcome news recently that a growing technology company has decided to grow its headquarters operations in the Nutmeg State. Connecticut, which has seen high profile companies like GE and Aetna announce plans to…
Read MoreBEACON—Another shuttered correctional facility in the Hudson Valley is being marketed for alternative uses. The Empire State Development Corp. announced on July 7th it had issued a Request for Expressions of Interest to developers and investors to formulate plans for the reuse and redevelopment of the shuttered Beacon Correctional Facility in Dutchess County. A former…
Read MoreIt is well known that Article 3 of the Realtor Code of Ethics deals with cooperation, surely an underpinning of an ethical real estate practice and a fluid marketplace. However, not all may be familiar with the nuances that are part and parcel of this rule of ethics. Article 3 closely resembles fiduciary law in…
Read MoreWASHINGTON—The Consumer Financial Protection Bureau finalized updates to its “Know Before You Owe” mortgage disclosure rule with amendments released on July 7th that the bureau stated are intended to formalize guidance in the rule, and provide greater clarity and certainty. The changes will facilitate implementation of the Know Before You Owe rule by the mortgage…
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