News

HG Realtor Foundation’s Donation Helps Fund Food Bank’s BackPack Program

April 2017

ELMSFORD—The Hudson Gateway Realtor Foundation’s $5,000 donation last year to the Food Bank for Westchester helped supply funding for the Elmsford-based charity’s BackPack Program, designed to help alleviate child hunger. Created in 2009, the program provides Westchester’s at-risk children with nutritious, easy-to-prepare food for weekends and school vacations. Members of the Hudson Gateway Realtor Foundation…

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LEGISLATIVE AFFAIRS: Latest Realtor News from Washington, DC

March 2017

There are many issues of concern to Realtors on the political horizon this year. Congress is currently absorbed considering the nomination of a Supreme Court Justice as well as the Affordable Care Act (“Obamacare”) so, tax reform, while currently not yet at the forefront, has serious implications for Realtors. 1031 exchanges are being targeted in…

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NAR Sounds Alarm on Upcoming Flood Insurance Expiration

March 2017

WASHINGTON—The National Association of Realtors is urging Realtors as well as consumers to the pending expiration of the National Flood Insurance Program on Sept. 30. NAR officials warn that a possible program expiration would harm consumers and threaten the health of the residential real estate market. While NAR is working closely with federal regulators and…

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Key Yonkers Development Projects Get Green Light

March 2017

YONKERS—While some major multifamily construction projects in Yonkers have already broken ground, the City Council and the Yonkers Industrial Development Agency have recently granted approvals for a host of new development ventures in the city. The Yonkers City Council voted on March 21 to rezone 705 Bronx River Road from commercial to residential use, which…

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White Plains to Move Forward With Train Station Initiative

March 2017

WHITE PLAINS—White Plains Mayor Thomas Roach says the city will soon be issuing a solicitation for interested developers on plans to develop what will likely be highly sought after city-owned property around the White Plains Metro North train station. Mayor Roach, who was the guest speaker at the March 23rd meeting of the Hudson Gateway…

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Report: Hudson Valley Cities Will Power Region’s Growth

March 2017

SPARKILL—The not-for-profit regional think tank Hudson Valley Pattern for Progress released a report earlier this month entitled “Urban Action Agenda-A Program in Motion” that theorizes the Hudson Valley region can attract new residents, including Millennials, into urban and downtown districts if proper planning and development takes place. The report included extensive research on 25 urban…

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Ginsburg Debuts Newest Rental Property in Downtown White Plains

March 2017

WHITE PLAINS—Longtime residential development firm Ginsburg Development Companies of Valhalla recently unveiled its most recent addition to its multifamily portfolio—the newly renamed “The Metro” in Downtown White Plains. GDC Principal Martin Ginsburg took the wraps off his firm's 124-unit, 12-story asset at 25 Martine Ave. at an event held on March 20th. The firm acquired…

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Houlihan Lawrence Lands Cambium Assignment

March 2017

LARCHMONT—Residential brokerage firm Houlihan Lawrence reported recently it was designated the exclusive sales and marketing agent for The Cambium condominium property. Sales for the residential development will now be led by agent Mary Gail Barry of Houlihan Lawrence. Developed by Byron Place Associates, LLC, The Cambium—located at 10 Byron Place—brings the luxury of Manhattan lifestyle…

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Stillman Property Management Signs New Clients

March 2017

HARRISON—Stillman Property Management, a full-service property management company based in Harrison, announced it has been selected to provide management for new properties in Westchester and Fairfield counties. The Westchester County properties added to Stillman’s client roster include: 15 South Division St., a commercial and residential mixed-use building in New Rochelle; Stonecrest, an eight-story cooperative residential…

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County Selling ‘Fair and Affordable’ Priced Homes as Part of Court Case

March 2017

WHITE PLAINS—Westchester County officials announced on March 9th that applications were being accepted for more that 30 new, fair and affordable homes in Westchester. The available properties are single-family homes and condominiums, ranging in size, from one to five bedrooms. All of the homes are in good condition and located in: Bedford, Buchanan, Cortlandt, Harrison,…

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NAR Survey Finds Generation X on the Mend

March 2017

WASHINGTON— An improving economy, multiple years of strong job growth and the notable increase in home values in most markets fueled a greater share of purchases from Generation X households over the past year. That new finding is according to the National Association of Realtors 2017 Home Buyer and Seller Generational Trends study, which evaluates…

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Oros Named New Director Of Economic Development

March 2017

WHITE PLAINS—Westchester County Executive Robert P. Astorino announced recently the appointment of George Oros as the new Director of Economic Development. Phil Oliva, the Deputy Director of Communications, succeeded Oros as Chief of Staff. Both appointments were effective March 13. William Mooney III, the current director of Economic Development, announced last month that he was…

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Tarrytown Office Building Trades for $30 Million

March 2017

TARRYTOWN—GHP Office Realty of White Plains has increased its regional office portfolio with the $30-million acquisition of a Class A office building here. Commercial brokerage firm Cushman & Wakefield reports that GHP Office Realty acquired the 279,000-square-foot office property from RA 660 White Plains Road LLC, an entity controlled by RNY Property Trust, an Australia-based…

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Merlin Seeks 20-Year PILOT Deal For LEGOLAND New York Project

March 2017

GOSHEN—The proposed developer and operator of the $500-million LEGOLAND New York theme park here announced on March 1 that it will seek a 20-year Payment in Lieu of Taxes deal from the Orange County Industrial Development Agency. Merlin had originally proposed a 30-year PILOT deal, but now is looking to finalize the 20-year accord after…

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BARRISTER'S BRIEFING: It’s Time to Talk About Timeshares

March 2017

We see the glitzy advertisements on television all the time. A low-cost timeshare offer beckons you away to a tropical or otherwise desirable location. Realtors and members of the public should always investigate to see if all that glitters is truly gold. The purpose of the article is to describe exactly what are the basic…

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Astorino, Local Officials Blindsided by Indian Point Closure Deal

March 2017

PEEKSKILL—The overwhelming takeaway from a recent state legislative committee public hearing on the Indian Point closure deal between New York State and plant operator Entergy Corp. was that state officials failed to forewarn key local stakeholders that a deal was in the works. County and local officials also were in unison expressing concern that a…

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Former Ramapo LDC Director Pleads Guilty in Bond Fraud Case

March 2017

WHITE PLAINS—The former executive director of the Ramapo Local Development Corp. N. Aaron Troodler pled guilty on March 7th to federal securities fraud and conspiracy charges in connection with the bond financing for the construction of what is now known as the Palisades Credit Union Park, and other projects, including the failed The Hamlets condominium…

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Multifamily Boom Takes Hold in NYC Suburbs

March 2017

TARRYTOWN—The suburbs surrounding New York City, including Westchester County, are now in the throes of a multifamily development boom as major investors flock to downtown districts in White Plains, New Rochelle, Yonkers and Mount Vernon to build transit-oriented communities. A panel of real estate investors at an event staged by The Business Council of Westchester…

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