News

Simone Granted Incentives for Montefiore Medical Project

February 2019

WHITE PLAINS—Simone Healthcare Development recently secured a resolution of intent from the Westchester County Industrial Development Agency to provide nearly $1.75 million in incentives for its $61-million plan to redevelop a vacant office building in Harrison into a pediatric care ambulatory facility for Montefiore Medical Center. Simone Healthcare, an affiliate of Simone Development Companies, plans…

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GATEWAY PERSPECTIVES: Dark Clouds Can Lead to New Opportunities

February 2019

2018 was a solid year for real estate in the lower Hudson Valley. However, as the year progressed, we did experience slowly declining sales numbers. Whether this had to do with prospective purchasers having concerns about the SALT deduction limits is probably too early to tell, and we should have a better feel when we…

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Politicos, Business Leaders Detail Dramatic Economic Impact of Natural Gas Moratorium on Westchester

February 2019

WHITE PLAINS—In two separate hearings on Wednesday, county, city and business leaders bemoaned the potential economic impact of Con Edison’s moratorium on new natural gas connections for most of Westchester County scheduled to begin on March 15. Some described the current situation as “a full-blown crisis” with the potential to bring new commercial, multifamily and…

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Meet the Sellers of the Bronx Merges with ERA Insite Realty

February 2019

WHITE PLAINS—ERA Insite Realty Services, a full service, family owned and operated residential real estate firm with offices in White Plains, Bronxville, Yonkers and Pleasantville, has reported that Meet the Sellers of the Bronx has merged with the White Plains based firm. Meet the Sellers was founded and owned by broker Irene Guanill Elukowich. Louis…

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Robison Energy Moving HQ to Port Chester

February 2019

PORT CHESTER—Robison Energy, LLC is relocating its corporate headquarters from Elmsford to the Gateway Plaza office building in Port Chester. The long-term lease deal for approximately 11,000 square feet of space at Gateway Plaza (55 South Main St.) in Port Chester was announced by Jamie Schwartz, executive vice president of GHP Office Realty, LLC, an…

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Clarkstown Forms Committee to Develop Pro-Growth Plan

February 2019

NEW CITY—Clarkstown Supervisor George Hoehmann announced on Feb. 4 the creation of the Clarkstown Business and Economic Development Advisory Committee that is now charged with developing a strategic, pro-growth plan for the town. The committee will focus initially on studying continued shifts occurring in the town’s vitally important retail sector and ways the town can…

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Business Council Announces Hall of Fame Winners

February 2019

RYE BROOK—The Business Council of Westchester announced on Feb. 5 the winners of its prestigious Business Hall of Fame Awards, which recognizes Westchester’s top corporate leaders. The winners will be honored at the 2019 Business Hall of Fame Awards Dinner on Tuesday, April 30 at the Glen Island Harbour Club in New Rochelle. The winners…

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Westchester Office Properties Ended the Year on a High Note

January 2019

RYE BROOK—Strong economic fundamentals in the U.S., the greater New York City area, and in Westchester County continue to drive a healthy commercial real estate market, according to a new fourth quarter report released recently by Houlihan Lawrence’s Commercial Group. “Widespread fears about the health of the economy have proven unfounded in the face of…

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Fareri to Revitalize Longstanding Goshen Retail Eyesore

January 2019

GOSHEN—The developer who earlier this month signed a contract with Westchester County to build a more than $1-billion bioscience park in Valhalla, has proposed a$60-million plan to rid the Village of Goshen of a mostly vacant and blighted property. Fareri Associates of Greenwich, CT presented the Goshen Planning Board on Jan.22 a plan to redevelop…

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Little of Old Tappan Zee Bridge Remains

January 2019

On Jan. 15, Tappan Zee Constructors, the contractor for the new Tappan Zee Bridge (Mario M. Cuomo Bridge), lowered the 672-foot section of steel, using charges to deliberately fail vertical members supporting the span. Portions of the old east anchor span, currently above the water line, will remain visible as it is removed from the…

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Hudson Valley Home Sales Market Remained Strong in 2018. Sales Slow Down, But Median Prices Continue to Rise in Region

January 2019

WHITE PLAINS—The Hudson Valley residential sales market remained strong in 2018, despite lower sales due mainly to a lack of available inventory. In a report released earlier this month by the Hudson Gateway Multiple Listing Service, Inc., the overall five-county market serviced by HGMLS (Westchester, Rockland, Orange, Putnam and Sullivan counties) saw a 2.6% decline…

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Veteran Realtor Ron Garafalo Installed as 2019 HGAR President

January 2019

CENTRAL VALLEY—More than 250 Realtors, Affiliates, friends and family were on hand on Jan. 17 to celebrate the installation of former OCAR President and Realtor Ron Garafalo as 2019 President of the Hudson Gateway Association of Realtors. In addition to Garafalo, sales manager with John J. Lease Realtors in Middletown, Renee Zurlo, regional manager with…

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LEGAL CORNER: The Shutdown’s Effect on Real Estate Transactions

January 2019

On Dec. 21, 2018, the federal government partially shutdown all non-essential services. At press time, this is now the longest government shutdown in U.S. history. As a result, some federal loan programs have been affected. The shutdown is also affecting conventional loans, causing delays and even cancellations of transactions. Real estate professionals should understand how…

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Hudson United Mortgage Extends ‘Second Look’ Program

January 2019

NYACK--- Hudson United Mortgage Services, LLC reported on Jan. 8 the firm is now accepting appointments for its Second Look Program, back by popular demand. Any prospective homebuyer is encouraged to meet with a Hudson United Mortgage loan officer once they have received a mortgage estimate from another lender to receive competitive rates and discuss…

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Orange Bank & Trust Opens New Thornwood Office

January 2019

THORNWOOD— The Board of Directors and CEO Michael Gilfeather of Orange Bank & Trust announced on Jan. 7 the opening of its full-service Thornwood branch at 859 Franklin Ave. “We are proud to continue to serve the Mount Pleasant community with our new branch in Thornwood,” said Joseph Ruhl, regional president at Orange Bank &…

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Houlihan Lawrence Holds Book Drive for Local Children in Need

January 2019

RYE BROOK—For the fourth consecutive year, real estate brokerage Houlihan Lawrence held a holiday book drive for local children in need, gathering more than 1,000 titles for preschool to middle school-aged readers. Collection bins were placed across the firm’s network of 30 field offices in New York and Connecticut, where they were quickly filled by…

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Yonkers Proposal Would Punish ‘Deadbeat’ Landlords

January 2019

YONKERS, NY—Yonkers Mayor Mike Spano and City Councilwoman Corazon Pineda-Isaac announced on Jan. 8 that they have proposed a bill that would target negligent or deadbeat landlords to pay costs now incurred by the city to relocate tenants from their unsafe properties. “After numerous condemnations of multi-family homes in Yonkers due to landlords not providing…

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Ginsburg Development Sells Three CT Properties for Nearly $22M

January 2019

BRIDGEPORT, CT—New York City real estate investment firm Time Equities Inc. has purchased three mixed-use properties here in a deal with Valhalla-based Ginsburg Development Companies for approximately $21.7 million. The deal involves the addition of 176 rental apartments and approximately 100,000 square feet of mostly retail space. The transaction was announced by brokerage firm HFF,…

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