News

NY Developers Acquire Troubled United Hospital Property

July 2019

PORT CHESTER—Starwood Capital Group, which acquired the shuttered United Hospital property here 13 years ago and proposed a $450-million redevelopment at the site, has sold the complex to partners Rose Associates and BedRock Real Estate Partners of New York City. No financial details of the transaction were disclosed. The sale of the 15.45-acre site that…

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Aurochemicals Opens New $2.5M Warehouse At its Headquarters Complex in Washingtonville

July 2019

WASHINGTONVILLE—Aurochemicals, a manufacturer of natural aroma ingredients for the flavor and fragrance industry, marked the official opening of a brand-new, $2.5-million warehouse facility with a ribbon cutting ceremony on July 9. Local dignitaries, including Orange County Executive Steven Neuhaus; Village of Washingtonville Mayor Joseph Bucco and Orange County Chamber of Commerce President and CEO Lynn…

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MBA Tracks Real Estate Lending Trends in New Report

July 2019

WASHINGTON—The Mortgage Bankers Association's first quarter of 2019 Commercial/Multifamily DataBook was released earlier this month. The quarterly report summarizes major trends that developed during the first three months of the year. "Low interest rates and strong property values continue to make commercial real estate an attractive market for borrowers," said Jamie Woodwell, MBA's vice president…

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Strategic Capital Secures $70M Loan for River Club at Hudson Park

July 2019

YONKERS—Global commercial real estate advisory firm Newmark Knight Frank announced on July 2 it had arranged a $70-million fixed-rate loan for the financing of the River Club at Hudson Park in Yonkers on behalf of Strategic Capital, the investment arm of China Construction America. The Newmark Knight Frank team was led by Dustin Stolly and…

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Hudson Valley Home Sales Fall in Most Markets

July 2019

Editor’s Note: The following is the text of the 2019 SECOND QUARTER RESIDENTIAL REAL ESTATE SALES REPORT Westchester, Putnam, Rockland, Orange, Sullivan Counties, New York released on July 8th by the Hudson Gateway Multiple Listing Service Inc. Residential sales for the second quarter in the lower Hudson Valley region served by the Hudson Gateway Multiple…

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Mount Vernon Mayor to Resign in September Over Misuse of Campaign Funds

July 2019

WHITE PLAINS—Mount Vernon Mayor Richard Thomas who came into office in 2016 promising to reform city government will be resigning effective Sept. 30th after pleading guilty to two misdemeanor criminal charges in connection with his admitted misuse of campaign funds. Mayor Thomas agreed to resign from office as part of a plea deal he reached…

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Knotel’s NYC Network Reaches 100 Buildings

July 2019

NEW YORK CITY—Global workspace provider Knotel reports it has finalized deals for five new locations in New York City, bringing its overall footprint here to 100 buildings and nearly 2.5 million square feet of office space. The firm’s announcement on July 1 followed completed deals for 24 new locations in New York City, London, Paris…

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Highbridge House in the Bronx Trades for $76.25 Million

July 2019

NEW YORK—Camber Property Group, a developer of affordable and mixed-income projects in New York City, and partner Belveron Real Estate Partners have acquired the 400-unit high-rise Highbridge House apartment building in the Bronx for $76.25 million. The 26-story property at 1133 Ogden Ave. was sold by Stellar Management of New York City. Aaron Jungreis of…

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A.S.A.P. Mortgage Expands Presence into Dutchess County

June 2019

FISHKILL—A.S.A.P. Mortgage reports it has recently opened a new branch location in Fishkill. The firm’s sixth office further expands its coverage into Dutchess County and the upper Hudson Valley region. “We are very excited to now serve the lending needs of homebuyers in Dutchess County,” says A.S.A.P. Mortgage founder and CEO Irene Amato, “especially as…

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WCA, HVEDC Call Off Pending Merger Deal

June 2019

POUGHKEEPSIE—The Hudson Valley Economic Development Corp. and the Westchester County Association have called off their merger deal. The two business organizations, which had announced in late January their intent to merge, have mutually decided not to pursue the merger that was to be finalized this September. The HVEDC is a regional economic development organization based…

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Saunders Named Secretary General of FIABCI

June 2019

WHITE PLAINS—Vanessa Saunders of Global Property Systems in White Plains was elected to a two-year term as Secretary General of the Marketing and Networking Committee of the International Real Estate Federation (FIABCI). Saunders is the first individual to be appointed to this position from the Hudson Valley region. Founded in 1951 in Paris, the FIABCI…

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In Memoriam: George Lawrence

June 2019

The Hudson Gateway Association of Realtors regrets to inform its membership of the passing of a real estate executive who has had a lasting impact on Westchester’s real estate industry—George Lawrence. Lawrence of Vero Beach, FL peacefully passed away on Tuesday, June 18, 2019 at the age of 81. He was born on Aug. 9,…

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At Home in Nyack: ‘The Art and Soul on the Hudson’

June 2019

This quaint little community has been described as "the art and soul on the Hudson," by Nyack's Chamber of Commerce. The 1.6 square mile village, located in the Town of Orangetown in Rockland County, has been home to artists, musicians, actors and celebrities like Rosie O'Donnell. Part of what makes Nyack a unique hub of…

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BCW Fetes ‘Mothers and Sons in Leadership

June 2019

The Business Council of Westchester recently hosted a lively panel discussion of successful mother-and-son businesses that explored how their businesses have found success through an intergenerational business model. The program titled “Mother’s & Sons in Leadership: Shared Vision for Success” was held at Kanopi at the Ritz-Carlton in White Plains. From left, Marsha Gordon, CEO…

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HG Realtor Foundation Launches New Committee To Fill Volunteer Needs for Supported Charities

June 2019

WHITE PLAINS—The Hudson Gateway REALTOR Foundation has launched a new Program Committee dedicated to filling the volunteer needs for the charities and non-profit organizations that it supports. The new committee, chaired by Gail Fattizzi, HGAR President-elect, has been busy organizing various volunteer projects and will be inviting the HGAR membership to participate. “The Foundation has…

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Westchester Secures First CDBG, Home Funding in Nearly a Decade

June 2019

ELMSFORD—At a press conference at DeLuca Park here, Westchester County Executive George Latimer and U.S. Rep. Nita Lowey announced on June 17th the re-establishment of the Westchester Urban County Consortium and the first Community Development Block Grant award in nearly a decade. The new consortium is comprised of 25 towns and villages in the county,…

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Rockland Codes Initiative is 'Turning Slumlords into Landlords'

June 2019

SOUTH NYACK—A little over four years ago Rockland County attempted to tackle the issue of dilapidated and unsafe housing by instituting the Rockland Codes Initiative that was touted at the time as a sweeping effort to combat illegal housing and overcrowding in the county. State, municipal and county officials joined Rockland County Executive Ed Day…

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