News

Putnam’s Odell Touts Tilly Foster, Danbury Sewer Deal

December 2016

CARMEL—Putnam County Executive MaryEllen Odell said recently that her “Year of Business Development” launched in March 2016 as part of her State of the County Address has achieved some significant goals by year’s-end. Among the economic development oriented initiatives highlighted by the County Executive included approved plans for a new senior center at the Butterfield…

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Surge in Northeast Boosts US Home Sales in November

December 2016

WASHINGTON—A large home sales surge in the Northeast and a smaller gain in the South pushed existing-home sales up for the third consecutive month in November, according to the National Association of Realtors. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 0.7% to a seasonally adjusted annual…

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Astorino: Westchester Has Spent $82M on Fair Housing Case

December 2016

WHITE PLAINS—As expected, Westchester County Executive Robert Astorino reported that the county had surpassed the court-mandated fair housing development benchmark of having financing in place and/or building permits issued for 750 units of affordable housing in 31 communities by the end of 2016. Astorino at a Dec. 27th press conference at the Michaelian Office Building…

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County Recognizes Award-Winning Building

December 2016

MAMARONECK—With friends, family and industry partners on hand, Sean and Chis Murphy celebrated the first anniversary of Mamaroneck Self Storage’s facility at 426 Waverly Ave. here. Ross Weiner, on behalf of County Executive Robert Astorino, presented the Murphy brothers and the Mamaroneck Self Storage staff with a proclamation declaring Dec. 21st “Mamaroneck Self Storage Recognition…

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Rising Mortgage Rates Will Affect Home Sales Volume in 2017

December 2016

WASHINGTON—Shrinking consumer confidence due to declining housing affordability, combined with rising mortgage interest rates are expected to put downward pressure on home sales volume nationwide, according to new consumer survey findings and a 2017 housing forecast update from the National Association of Realtors. In NAR's recently released fourth quarter Housing Opportunities and Market Experience (HOME)…

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Rockland County Budget Veto Override Vote Fails

December 2016

NEW CITY—Earlier this week the Rockland County Legislature failed to secure the necessary two-thirds majority to override Rockland County Executive Ed Day’s vetoes in Rockland County’s 2017 budget. The Legislature voted 11-5 to override the vetoes, but fell short of the mandated 12 votes necessary to achieve the two-thirds majority. According to the Journal News,…

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Westchester’s RPW Group Sells NYC Property for $108M

December 2016

NEW YORK—Robert Weisz’s RPW Group, Inc. has sold an office building on the West Side of Manhattan in the Garment District to ATCO Properties & Management for $108 million. Rye-Brook based RPW Group sold 240-246 West 35th St., an 18-story 165,000-square-foot office building located near Penn Station.  The transaction closed on Dec. 20th. The office…

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New Rochelle Looks to Create Downtown Arts and Cultural District

December 2016

NEW ROCHELLE—As the city moves forward on its ambitious and far-reaching Downtown redevelopment plan, the city is also working on a master plan to create an arts and cultural district downtown as well. City leaders say that the district is envisioned to be a “regional mecca for artists and innovators in line with the city’s…

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Nyack Hospital Breaks Ground on $22M Medical Village

December 2016

Crystal Run Healthcare Expands in West Nyack NYACK—The healthcare sector in Rockland County continues to grow. On Dec. 2nd, chief officials of Nyack Hospital and the Montefiore Health System broke ground on a $22-million “Hospital Transformation Project” that when completed will expand its emergency department and create a Medical Village at the hospital, which began…

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Major Software Firm Relocates From New Jersey to Pearl River

December 2016

PEARL RIVER—Global software company Syncsort Inc. has relocated its corporate headquarters from Woodcliff Lake, NJ to approximately 55,000 square feet of space at 2 Blue Hill Plaza here. The relocation deal was fueled in part by incentives provided under New York State’s START-UP-NY program. Syncsort is collaborating with Iona College, which has its Rockland Graduate…

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RXR Begins $190M Mixed-Use Project in Downtown Yonkers

December 2016

YONKERS—Marking the firm’s second major groundbreaking of late in Westchester County, developer RXR Realty and partner Rising Development joined Yonkers Mayor Mike Spano and city officials on Dec. 14th to officially begin construction on its $190-million Larkin Plaza mixed-use development project. The Larkin Plaza project, among the largest private developments in downtown Yonkers in some…

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Wegmans Announces Plans To Build Harrison Store

December 2016

HARRISON—Wegmans Food Markets, Inc. has confirmed that the family-owned supermarket chain has signed a purchase agreement with Normandy Real Estate Partners for a 20-acre parcel of land, located at 106-110 Corporate Park Drive in Harrison to build a new store. “We look forward to the day when we can welcome customers into our Harrison store…

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Governor Cuomo Doubles Down On Life Sciences Sector Growth

December 2016

ALBANY—New York Gov. Andrew M. Cuomo announced on Dec. 12 what he terms a groundbreaking new $650-million initiative to spur the growth of a new, world-class life science research cluster in New York, as well as expand the state’s ability to commercialize this research and grow the economy. The multi-faceted initiative includes $250 million in…

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New Tappan Zee Bridge to Open on Time in 2018

December 2016

TARRYTOWN—At a topping off ceremony for the new span’s eight towers, state officials announced that the new Tappan Zee Bridge (also known as the New NY Bridge) will open for traffic in 2018 and will be completed on budget at $3.98 billion. A host of political, business and construction trade officials gathered at the project…

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Westchester IDA, LDC Generated $604M in Private Investment in 2016

December 2016

WHITE PLAINS—Westchester County Executive Robert P. Astorino announced earlier this moth that projects supported by the Westchester County Industrial Development Agency and Local Development Corporation in 2016 totaled $604 million in private investment. The 13 IDA and LDC projects created or retained approximately 2,179 permanent and construction jobs. The year-end results were announced at the…

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Veterinary Neurologist Acquires Brewster Commercial Space

December 2016

BREWSTER—Steven Salomone of Houlihan Lawrence Commercial Group reported the brokerage firm recently closed on a commercial real estate sales transaction here valued at $2.49 million. A veterinary neurologist and primary care specialist plans to repurpose an existing 29,000-square-foot former software distribution center and warehouse at 4 Hardscrabble Heights as a new specialty care center for…

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Professional Soccer Team Building Training Facility in Orangeburg

December 2016

ORANGEBURG—Construction has begun on a training facility for the MLS professional soccer team the New York City Football Club (New York City FC) on a 17-acre site here. Construction commenced on The City Football Academy in the fall and is expected to be completed in early 2018. The plans originally announced in October consist of…

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Statewide Abstract Introduces ‘TrackerPro’

December 2016

WHITE PLAINS—Statewide Abstract, the largest family owned title agency in Westchester County, announced recently the implementation of TrackerPro, a multifaceted software application that will fully streamline the title insurance process for clients. “TrackerPro will provide Statewide Abstract clients with a highly efficient and responsive way to stay abreast of their title’s status at all times,”…

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Commercial/Multifamily Delinquencies Remain Low, CMBS Up Slightly

December 2016

WASHINGTON—Delinquency rates for commercial and multifamily mortgage loans remained low in the third quarter of 2016, according to the Mortgage Bankers Association's Commercial/Multifamily Delinquency Report. "Commercial and multifamily mortgage delinquencies were once again quite low in the third quarter, because of the continued strength in the market fundamentals," said Jamie Woodwell, MBA's Vice President of…

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