News

County, Feds at Odds Over Housing Monitor

February 2017

WHITE PLAINS—While Westchester County Executive Robert Astorino has been hopeful that with the change in administration in Washington, DC, would perhaps foster better relations between the county, the U.S. Justice Department and the U.S. Department of Housing and Urban Development, initial indications reveal the relationship between at least some the parties remains frosty. Astorino has…

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County Renews, Amends Camp Herrlich Lease

February 2017

CARMEL—Putnam County Executive MaryEllen Odell announced recently that the legislature passed a resolution to amend the county’s lease with Camp Herrlich. Amendments, featuring a guaranteed 20-year lease term, were sought by Camp Herrlich to ensure long-term care of the property and to secure funding for facility improvement and expansion to increase the camp’s capacity. “Camp…

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Brewster Revitalization Project Progresses

February 2017

BREWSTER—Putnam County Executive MaryEllen Odell and Village of Brewster Mayor James Schoenig with Covington Development, LLC, principal, Harold Lepler, recently announced details on the implementation of Phase I of a multiphase Transit Oriented Development project designed to revitalize the Village of Brewster.  The initial construction phase is supported in part by a recently awarded $2-million…

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A.S.A.P. Mortgage Opens Fourth Branch Office

February 2017

  CROTON-ON-HUDSON—Rescheduled a day later due to the snowstorm, officials and staff with A.S.A.P. Mortgage Corp. opened its fourth Westchester County branch location on Friday, Feb. 10. A host of local and county officials were on hand for the festivities to commemorate the opening of the firm’s new location at 125 Grand St. in Croton-on-Hudson.…

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Houlihan Lawrence Commercial Bullish On Office, Multifamily Markets in 2017

February 2017

RYE BROOK—Houlihan Lawrence Commercial Group recently released a report on the commercial real estate and multifamily markets in Southern Westchester County that predicted continued improvement across all sectors. The report, authored by Houlihan Lawrence Commercial’s Teresa Marziano, noted that Manhattan’s influence on the Westchester commercial markets (south of I-287) continues. She said, “Westchester’s commercial real…

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BARRISTER'S BRIEFING: New Department of State Regulatory Changes Affecting Licensees

February 2017

The New York Department of State, which promulgates regulations affecting real estate licensees, recently issued several amendments to existing regulations on Jan. 4, 2017. This article will call attention to those recent amendments and the implications on licensees. To start, there has been a regulatory change to 19 NYCRR §175.1.  That particular amendment is italicized…

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Danone North America Finalizes HQ Move to White Plains

February 2017

WHITE PLAINS—Danone North America announced on Feb. 7 it will be moving forward with a planned relocation of its corporate headquarters from Greenburgh to approximately 100,000 square feet of leased office and retail space at 100 Bloomingdale Road in White Plains. The North American operations of The Danone Co., known for Dannon and Evian yogurt…

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Ginsburg Firm Acquires Downtown White Plains Rental

February 2017

WHITE PLAINS—In the residential development firm’s first entry into the Downtown White Plains market, Ginsburg Development Companies has purchased the 124-unit luxury rental apartment building at 25 Martine Ave. here. The 12-story building, currently known as Halstead White Plains, was purchased by GDC from DSF Group of Boston for $35.25 million. GDC plans to make…

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Merlin Entertainments Proposes Major Road Project to Help Secure Legoland Approval

February 2017

GOSHEN—Merlin Entertainments, the developer of the proposed $500-million LEGOLAND New York project here, has taken a bold step to mitigate one of the major issues tied to the project’s approval. The firm announced on Monday plans to relocate and reconfigure Exit 125 of Route 17 to help alleviate traffic on local roads. The multi-million dollar…

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Bon Secours Inks $180M Deal with Royal Philips

February 2017

VALHALLA—In another example of the tremendous economic engine health care is to the Hudson Valley, Royal Philips and Bon Secours Charity Health System, a member of the Westchester Medical Center Health Network here, recently announced a multi-year, strategic partnership agreement valued at $180 million. The agreement will make Philips solutions available to BSCHS in support…

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Judge Throws Out Legoland Project Opponents Suit

February 2017

GOSHEN—The proposed $500-million LEGOLAND New York resort project has scored a major legal victory with the dismissal of a lawsuit brought by a group of adjacent property owners. New York State Supreme Court Judge Robert A. Onofry dismissed an Article 78 proceeding filed on Dec. 8 by the Concerned Citizens for the Hudson Valley and…

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Commercial Brokers Bullish on Hudson Valley Market in 2017

January 2017

WHITE PLAINS—A record crowd of more than 120 real estate professionals were on hand to hear a rather upbeat view of the Hudson Valley commercial real estate market this year at the Hudson Gateway Association of Realtors’ Commercial Investment Division’s Annual Commercial Broker’s Roundtable held at the HGAR offices in White Plains. CID President John…

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Reaction Mixed to PSC Decision on Suez NY Water Rate Hike

January 2017

NEW CITY—Reaction has been mixed to the decision by the New York State Public Service Commission earlier this week to decrease the requested water rate hike request by Suez New York, Inc. by nearly $1 million over the next three years. Rockland County Executive Ed Day was highly critical of the PSC decision charging that…

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2016 U.S. Existing-Home Sales Best Since 2006

January 2017

WASHINGTON— Existing-home sales closed out 2016 as the best year in a decade, even as sales declined in December as the result of ongoing affordability tensions and historically low supply levels, 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, finished 2016…

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Trump Suspends FHA Mortgage Insurance Premium Reduction

January 2017

WASHINGTON—A cut in the FHA annual mortgage insurance premium announced in the final days of the Obama Administration earlier this month, was “suspended indefinitely” in the initial hours of the new Trump Administration. The move was part of a host of executive orders issued by President Donald Trump in his first week in office that…

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LEGISLATIVE AFFAIRS: How Debts and Deficits Could Impact Real Estate

January 2017

Debts and deficits run by the federal government, despite experiencing declines over the past seven years, have been at record levels for several reasons. The lack of revenue to the government, coupled with high federal spending, has contributed to the problem. We also experienced a financial crisis that crippled our economy for many years. We…

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Poll: NY First Home Proposal Overwhelmingly Supported by New Yorkers

January 2017

ALBANY—According to results from a Homeownership Poll conducted by the Siena Research Institute, 84% of New York voters support the NY First Home proposal that would create a tax-free savings account to help New Yorkers save for a first home. Support for the program was bi-partisan and spread across the entire state. Specifically, the NY…

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Hudson Valley Home Sales Soared 12.5% in 2016

January 2017

WHITE PLAINS—As the new year begins, the Hudson Valley home sales market seems to be running on close to all cylinders with strong sales in Westchester, Rockland, Orange and Putnam counties. All indications are that the region’s economic fundamentals will continue to fuel activity and perhaps spark even higher price appreciation in some markets in…

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HGAR Makes History With Dorothy Botsoe Installation

January 2017

Renee Zurlo to Lead HGMLS for Second Term TARRYTOWN—On Jan. 19, the Hudson Gateway Association of Realtors achieved another significant milestone in its storied 101-year history with the installation of its first black President, veteran Realtor Dorothy Botsoe. The Hudson Gateway Association of Realtors held its annual Installation Gala at Abigail Kirsch at Tappan Hill…

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