Residential

Construction Begins on $100M St. Regis Project in Rye

May 2018

RYE—A host of state, county and local dignitaries were on hand for the official groundbreaking of the St. Regis Residences Rye here earlier this month. The project, being developed by Harrison-based Alfred Weissman Real Estate, will include 95 luxury condominium residences ranging from one- to four-bedroom units located within five three- to four-story buildings constructed…

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New York Becomes First State to Join Fair Housing Lawsuit Against HUD

May 2018

ALBANY—New York Gov. Andrew Cuomo announced on Monday that New York will be joining a lawsuit against the federal government’s alleged failure to enforce the Fair Housing Act. The lawsuit seeks to force the U.S. Department of Housing and Urban Development to enforce a rule requiring local and state governments to address segregated housing patterns…

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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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Kafcos Realty Switches Franchise Flags

May 2018

NEW YORK—Prudential Kafcos Realty announced recently it joined the Century 21 system and will now do business as Century 21 Kafcos Realty. The company, headquartered at 3060 East Tremont Ave., will continue to provide real estate services to buyers, sellers and renters in the Bronx and Westchester counties. “Century 21 Kafcos Realty exemplifies the strength…

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Keller Williams Realty Group Volunteers for Animal Shelter

May 2018

SCARSDALE—Keller Williams Realty Group associates chose to “Give Where They Live” as part of RED Day, Keller Williams' annual day of service on May 10. As part of the RED Day effort, Keller Williams Realty Group spent the day with The Humane Society in New Rochelle, collecting donations for the local animal shelter and raising…

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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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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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Lagging Inventory Continues to be a Drag on U.S. Home Sales

April 2018

WASHINGTON—Existing-home sales grew for the second consecutive month in March, but lagging inventory levels and affordability constraints kept sales activity below year ago levels, according to the National Association of Realtors. Total existing-home sales, https://www.nar.realtor/existing-home-sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.1% to a seasonally adjusted annual rate…

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Hudson Gateway MLS Finalizes Merger Deal With Sullivan County Multiple Listing Service

April 2018

WHITE PLAINS—The Hudson Gateway Multiple Listing Service, Inc. (HGMLS) and the Sullivan County Multiple Listing Service, Inc. (SCMLS) announced on April 13 they have finalized an agreement to combine their two MLSs, expanding the HGMLS coverage to five counties in the Hudson Valley. SCMLS currently has approximately 200 agents in 58 primary participating offices, and…

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Ginsburg-Robert Martin to Redevelop Key Downtown White Plains Complex

April 2018

WHITE PLAINS— Two veteran Westchester County developers—Martin Ginsburg and Robert Weinberg—pioneers and icons in their respective sectors are teaming up on a project that can finally provide a suitable gateway to Downtown White Plains from the White Plains Train station. The two developers are embarking on a redevelopment of a more than 500,00-square-foot office complex…

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HGAR Launches New Global Business Council

April 2018

WHITE PLAINS—HGAR has recently launched a new Global Business Council charged with creating global business opportunities and education for HGAR members. Robert Shandley of Better Homes and Gardens Rand Realty in White Plains is the chairman of the new council. The new council, comprised of approximately 17 people, is planning networking mixers along with educational…

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Talleyrand Apartments Trades for $91 Million

April 2018

TARRYTOWN—An affiliate of the DSF Group has acquired the Talleyrand Apartments complex here in a deal reportedly valued at more than $90 million. Commercial brokerage firm CBRE reported that Jeffrey Dunne, Gene Pride and Eric Apfel represented the seller in the transaction for the 300-unit multifamily community. Multiple press reports citing public records stated that…

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Realtors Declare Victory Against Onerous Tax Proposals

April 2018

ALBANY—Chief officials of the Hudson Gateway Association of Realtors, while not specifically citing the old axiom, did in fact embrace the tried and true sports strategy uttered by many a head coach that “Sometimes a good offense is a good defense.” The recently passed $168.3-billion Fiscal Year 2019 New York State budget did not include…

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Debt, Smaller Down Payments Leave Millennials Vulnerable to Already Challenging Market

April 2018

SANTA CLARA, CA—Rising interest rates and home prices will cause a resounding majority of millennials to modify their home search, perhaps prompting them to seek a smaller or less expensive home or even consider different neighborhoods, according to a survey released on April 4 by realtor.com. Two factors are contributing to market sensitivity from millennials—their…

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Survey: Housing, Economic Sentiment on Divergent Paths

March 2018

WASHINGTON— New consumer findings from the National Association of Realtors surprisingly show that while a growing share of households in the first three months of the year feel more confident about the economy and their financial situation, those positive feelings are not translating to positive views that now is a good time to buy a…

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