Residential

Five Questions With: Orange County Executive Steven M. Neuhaus

September 22, 2022

GOSHEN—Now in his third term of office, Orange County Executive Steven M. Neuhaus is looking beyond the COVID-19 pandemic to the future of Orange County. Neuhaus, at a recent meeting of the Alliance for Balanced Growth, did not hold back and offered his frank assessment of the economy and what he believes is the proper…

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NAR: U.S. Existing-Home Sales Slipped 0.4% in August; Northeast Home Sales Grew 1.6%

September 21, 2022

WASHINGTON—Existing-U.S. home sales experienced a slight dip in August, marking the seventh consecutive month of declines, according to a report released today by the National Association of Realtors. Month-over-month sales varied across the four major U.S. regions as two regions recorded increases, one was unchanged and the other posted a drop. On a year-over-year basis,…

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Closed Median Home Sale Price in NY Metro Region Holds Steady in August

September 20, 2022

WEST BABYLON—For August 2022, OneKey MLS reported on Sept. 20 a regional closed median sale price of $621,500, representing a 0.20% increase over the reported $620,000 in July 2022. Between July and August 2022, closed regional sales transactions, including residential, condo, and co-op sales, in the region covering Montauk to Manhattan, north through the Hudson…

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HGAR Travels to Nation’s Capital for Major RE Conference

September 19, 2022

WASHINGTON—I had the privilege of attending earlier this month RISMedia’s 34th Annual CEO & Leadership Exchange 2022 at the iconic Mayflower Hotel in Washington D.C. It was a top-notch high-energy event. Talks and panels shared everything from game planning in a shifting market, changing consumer expectations and adapting to new and efficient strategies. Real estate…

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Area Mayors Discuss Affordable Housing, Commercial Development, Community Safety

September 16, 2022

WHITE PLAINS—Affordable housing, commercial development, energy resources and community safety were among the issues discussed recently at a live “Meet the Mayors” panel held by the Women’s Council of Realtors on Sept. 12 at HGAR’s headquarters in White Plains. Moderated by Leah Caro, Co-Chair of HGAR’s Legislative Committee, the panel included the mayors of White…

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EPA: General Electric Co. to Study Lower Hudson River Contamination

September 14, 2022

ALBANY, NY – Under a legal agreement with the U.S. Environmental Protection Agency announced on Sept. 13, General Electric Co. has agreed to investigate the Lower River portion of the Hudson River PCBs Superfund site to determine next steps for addressing contamination. Under the terms of the legal administrative agreement, GE will immediately develop a…

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Experts Predict Recession Likely in 2023 as Fed Continues to Battle Inflation

September 14, 2022

NEW YORK—A consensus of real estate and finance experts predicted that a recession is likely in 2023 as the Federal Reserve will continue to hike rates this year to battle rising inflation. The experts were part of a virtual panel discussion held on Sept. 7 hosted by Fordham University’s Real Estate Institute and The Business…

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Condo Project at Edge-on-Hudson Property Secures $142M in Financing

September 8, 2022

SLEEPY HOLLOW—The condominium project called “The Daymark” to be built at the Edge on Hudson property—the site of a former General Motors assembly plant—has secured $142 million in financing. Lionheart Strategic Management LLC, an affiliate of Fisher Brothers that manages capital on behalf of third-party investors, announced on Sept. 7 that it will provide a…

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Mortgage Applications Continue to Decline; Rates Rise to Nearly 6%

September 7, 2022

WASHINGTON—Mortgage applications decreased 0.8% last week from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Sept. 2, 2022, the MBA announced on Sept. 7. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 5.94% last week. The…

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The DSF Group Sells New Rochelle Rental Tower for $200 Million

August 31, 2022

NEW ROCHELLE—An affiliate of Boston-based The DSF Group, which has been a very active player in the Westchester County multifamily sector, has sold Halstead Station, a 24-story, 408-unit, luxury tower adjacent to the New Rochelle Metro North train station, for $200 million. The deal was announced by brokerage firm JLL, which represented The DSF Group…

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$36 Million Rehab of Affordable Housing Development in White Plains Completed

August 25, 2022

WHITE PLAINS—New York Gov. Kathy Hochul announced on Aug. 18 the completion of a $36-million rehabilitation of Kingsley House, an affordable housing development for seniors in the City of White Plains. The renovations at the Mitchell-Lama complex upgraded apartment at 41 Barker Ave. upgraded amenities and will improve the building's safety, promote energy efficiency, and…

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HGAR CEO Haggerty to be Featured at RISMedia’s CEO and Leadership Exchange in Washington DC

August 25, 2022

WHITE PLAINS—Richard Haggerty, CEO of the Hudson Gateway Association of Realtors, Inc. (HGAR) and President and Chief Strategic Growth Officer of OneKey MLS, has been selected to participate in RISMedia’s prestigious 2022 CEO & Leadership Exchange in Washington, D.C. The renowned educational and networking event—scheduled for Sept. 6-8—brings together the residential real estate industry’s top…

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Northeast Pending Home Sales Fell Nearly 2% in July

August 24, 2022

WASHINGTON— Pending home sales declined for the second consecutive month in July, and for the eighth time in the last nine months, according to the National Association of Realtors reported today. Three out of four major regions registered month-over-month decreases, though the West notched a minor gain. Year-over-year, all four regions saw double-digit percentage slides,…

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U.S. Existing Home Sales Fell Nearly 6% in July; Northeast Sales Down 7.5%

August 18, 2022

WASHINGTON—Existing-home sales fell for the sixth straight month in July, the National Association of Realtors reported on Aug. 18. All four major U.S. regions recorded month-over-month and year-over-year sales declines. A highlight of the report was NAR Chief Economist Lawrence Yun’s assessment of a “housing recession” in several segments of the residential market in the…

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Rockland County Multifamily Portfolio Trades in 1031 Deal for $19.2 Million

August 15, 2022

PEARL RIVER—In a deal recently announced by New Jersey-based brokerage firm The Kislak Company, Inc. a three-property multifamily portfolio in Nanuet and Pearl River in Rockland County has traded for $19.2 million. The portfolio includes Buckingham Gardens with 64 units at 249 North Middletown Road in Nanuet, Henry Street Apartments with 18 units at 31-33…

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Developer, City of White Plains Cut Ribbon on The Overture at Brookfield Commons

August 15, 2022

WHITE PLAINS, NY – Trinity Financial joined White Plains Mayor Thomas Roach and the White Plains Housing Authority on July 21 to celebrate the official ribbon cutting for The Overture at Brookfield Commons—which represents the second phase of redevelopment of the former city public housing project Winbrook Houses. The Overture at Brookfield Commons consists of…

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