News

22 Condo Units at Gateway Property Offered in Bulk Sale for Nearly $8M

June 2018

WHITE PLAINS—Cushman & Wakefield has been retained on an exclusive basis to arrange the sale of 22 condominium units within the Gateway Condominiums property at 257 Central Ave. in White Plains. The asking price for the bulk package of condominium units is $7.95 million. A team led by Vice Chairman Thomas A. Donovan, along with…

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IDA Report Shows Tax Break Growth Slows Job Creation Remains Higher Downstate

June 2018

ALBANY—New York State’s Industrial Development Agencies reported $715 million in net tax exemptions in 2016, up almost 3% from 2015, according to a report issued on June 1st by New York State Comptroller Thomas P. DiNapoli. The report also showed that downstate regions accounted for 57% of the total net jobs gained through IDA projects…

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Cacace Appointed Vice President Of International R. E. Federation

June 2018

SCARSDALE– Portico Realty Group recently announced that Emi Cacace has been appointed vice president of the World Council of Brokers by the International Real Estate Federation (FIABCI). As a member of the FIABCI, Cacace is equipped with the necessary training and experience to work successfully in international real estate and client relocation. Cacace, who is…

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U.S. Existing-Home Sales Fell 2.5 % in April

June 2018

WASHINGTON— After moving upward for two straight months, existing-home sales retreated in April on both a monthly and annualized basis, according to the National Association of Realtors. All four major regions saw no gain in sales activity last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased…

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Mike Oates Named New Leader of HVEDC

June 2018

GOSHEN—Hudson Valley Economic Development Corporation Board Chairman Robert J. Levine announced on May 31 that Mike Oates was named the organization’s new president and CEO, effective June 4. Oates replaced Laurence P. Gottlieb, who recently resigned from the position after serving as head of the economic development agency since 2013. Oates has been the managing…

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IRG Lands New Tenant, Rebrands former Pfizer Property

May 2018

PEARL RIVER—Industrial Realty Group announced recently its 1.993 million-square-foot campus of existing office, laboratory, and industrial space in Pearl River, will be known as “New York Center for Innovation.” “The campus is a unique part of the community in Pearl River and we are committed to its next chapter,” said John A. Mase, CEO at…

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National Association of Realtors Applauds Passage of Banking Reform Bill

May 2018

WASHINGTON—The U.S. House passed bipartisan legislation on Tuesday (May 22) that the National Association of Realtors believes will bring much-needed bank regulatory relief and consumer protections and is a step in the right direction for the industry. S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act,” contains several favorable provisions for housing, including…

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Purchase College Moving Forward With $320M Senior Project

May 2018

WHITE PLAINS—Officials with Purchase College-State University of New York briefed officials with the Westchester County Local Development Corp. at its session on April 26 on plans to build a $320-million Senior Learning Community on a 40-acre tract on the campus. The Westchester LDC is performing due diligence on the college’s proposal to have the LDC…

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Metro Home Price Growth Quickens to 5.7%

May 2018

WASHINGTON—Inventory levels hovering at all-time lows weighed down home sales and fueled faster price appreciation during the first three months of the year, according to the latest quarterly report by the National Association of Realtors released on May 14. The national median existing single-family home price in the first quarter was $245,500, which was up…

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New Home Purchase Mortgage Applications Rose 7.5% in April

May 2018

WASHINGTON—Recently released mortgage finance activity data released by the Mortgage Bankers Association indicate mixed results during the month of April. The Mortgage Bankers Association Builder Applications Survey data for April 2018 released on May 10 showed mortgage applications for new home purchases increased 7.5% compared to April 2017. Compared to March 2018, applications decreased by…

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Main Span of Old Tappan Zee Bridge Lowered

May 2018

TARRYTOWN The demolition of the now retired Tappan Zee Bridge reached a major milestone earlier this month with the lowering of the 532-foot center span onto a barge in the Hudson River. Gov. Andrew Cuomo and other dignitaries watched the span lowering from a boat during a media tour on May 8 of the construction…

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Avison Young Arranges $120-Million Loan For Westchester Financial Center Purchase

May 2018

WHITE PLAINS—Avison Young’s New York Capital Markets Group reports it has arranged a $120.3-million financing package for the acquisition and redevelopment of the Westchester Financial Center, a 571,000-square-foot office complex located at 50 Main St/ and 1-11 Martine Ave. in White Plains. The buyers, a joint venture comprising Ginsburg Development Companies, LLC and Robert Martin…

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Westchester County, Greenburgh Agree To Senior Project at WestHELP Site

May 2018

GREENBURGH—After reaching an agreement with the Town of Greenburgh, Westchester County Executive George Latimer announced on May 8th plans for the development of 74 units of affordable senior rental housing at the long vacant and controversial WestHELP site. The WestHELP site, a six-acre parcel located off Knollwood Road adjacent to the campus of Westchester Community…

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RPAC Networking Mixer Set for June 5 At Haiku Restaurant in White Plains

May 2018

WHITE PLAINS—The Hudson Gateway Association of Realtors RPAC Committee is gearing up for another exciting networking mixer—this time at Haiku Asian Bistro on Mamaroneck Avenue in White Plains on Tuesday, June 5, from 5:30p.m. to 7:30 p.m. The event will feature complimentary appetizers consisting of a modern twist on classic Asian dishes of China, Thailand,…

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Business Council of Westchester Unveils BCW Data Exchange

May 2018

RYE BROOK—Filling a pressing need for comprehensive, in-depth data on Westchester County, The Business Council of Westchester unveiled on May 8th the BCW Data Exchange. The free, user-friendly, online portal will for the first time provide businesses, non-profits and the public with key data about Westchester all in one place. Demographics, data on workforce, housing,…

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HGAR’s Chirag Shah Named a ‘Rising Star’ by Business Council

May 2018

WHITE PLAINS—Realtor Chirag Shah, Principal Broker/Owner of Gateway Realty of Mamaroneck and  Lifestyle Westchester, will be honored next month along with the rest of the “Rising Stars” selected by the Business Council of Westchester. The Business Council of Westchester announced its 2018 class of “Rising Stars” on May 3. The winners will be honored on…

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UPDATE: Town's Rejection Puts $100M Project in Jeopardy

May 2018

MIDDLETOWN—A rebuff by the Town Board of Hamptonburgh has Orange County political leaders and economic development officials scrambling to save a mega-warehouse project valued at $100 million. Medline, a health care distribution company based in Middletown, had hoped to build a 1.2-million-square-foot warehouse project in the Town of Hamptonburgh. However, members of the Town Board…

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RPA Proposes $71B Plan to Merge Metro-North, LIRR and NJ Transit

May 2018

Talk about great timing! Newly appointed MTA Metro-North President Catherine Rinaldi will likely be asked what she thinks about a recently released proposal by the Regional Plan Association, pegged at $71.4- billion, to merge the MTA’s Metro-North, Long Island Rail Road and New Jersey Transit rail lines. The merged regional commuter rail network, named the…

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Iconic Downtown White Plains Building to be Sold

April 2018

WHITE PLAINS—A storied building that has been a staple for nearly a century in Downtown White Plains is being put on the market for sale. The YMCA of Central and Northern Westchester has decided to put the White Plains YMCA complex on Mamaroneck Ave. on the market for sale. Officials with the YMCA said that…

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