Residential

Existing US Home Sales Reach Highest Point Since December 2006

September 2020

WASHINGTON—Confirming what many Hudson Valley residential brokers have seen since the COVID-19 restrictions were lifted, the National Association of Realtors reported that the US existing home sales market is very hot. NAR reported that home sales in August were the highest in nearly 14 years (December 2006). Existing-home sales continued to climb in August, marking…

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Haverstraw Issues RFEI to Developers For Long-Vacant Waterfront Parcel

September 2020

HAVERSTRAW—The Village of Haverstraw is taking a significant step in developing a long vacant and underutilized downtown waterfront parcel with the issuance of a Request for Expressions of Interest to development firms. The village, which issued the RFEI today, is hoping to find a developer that will embrace its vision of developing a mixed-use project…

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Westchester Rolls Out Comprehensive COVID Aid Program To Help Suffering Homeowners, Tenants and Landlords

September 2020

WHITE PLAINS—Westchester County has rolled out four distinct housing assistance programs that are being funded by HUD and the CARES Act geared to offering a comprehensive approach in dealing with the economic and social impacts of the COVID-19 pandemic. Westchester County Executive George Latimer announced the “Community Build Back Program” on Sept. 17 that includes…

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Yonkers IDA Grants Preliminary Approval For $72-Million Apartment Development

September 2020

YONKERS—The Board of Directors of the Yonkers Industrial Development Agency recently granted preliminary approval of financial incentives for a $72-million multifamily project that will redevelop a blighted and vacant block in the Warburton Ravine Urban Renewal Area. Point & Ravine Apartments, which is a public partnership between developer Conifer Realty LLC and the City of…

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The New York Botanical Garden, Douglaston Ink Two Long-Term Ground Leases for Mixed-Use Affordable Projects in the Bronx

September 2020

NEW YORK—Finalizing a deal announced earlier this year, The New York Botanical Garden and Douglaston Development have closed two separate 99-year ground leases at 2856 Webster Ave. and 410 Bedford Park Blvd. in the Bronx that will in a few years feature affordable housing projects totaling more than 400 units. New York City-based Douglaston states…

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WRO Online Fundraiser to Go Live on Sept. 26

September 2020

WHITE PLAINS—Westchester Residential Opportunities’ (WRO) online (Facebook) Auction is about to go live! Get a sneak peek at some of the wonderful auction items—bicycles, golf clubs, jewelry, artwork and so much more! Starting bids as low as $10. The auction will go live September 26 – October 3. The highest bidder and the item donator…

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Construction Starts on $51 Million Affordable Project in Peekskill

September 2020

PEEKSKILL—Ground was officially broken on Sept. 9 at Wilder Balter Partners’ $51-million affordable housing project at 645 Main Street in Downtown Peekskill. A host of state, county and city luminaries were on hand for the event signaling the ceremonial start of construction of the 82-unit development. The new affordable complex is reserved for households earning…

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Orange County Housing Market is Hot, Despite COVID Pandemic

September 2020

We are the talk of the towns—the Orange County real estate market is hot! Our Orange County region recently closed out July 2020 with a median sale price of $330,000 for single-family Residential homes. Our August median sale price was a very close $329,900. We have not seen a median sale price in Orange County…

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Joseph Rand Named Executive Director Of Broker Public Portal with Homesnap

September 2020

ARROYO GRANDE, CA—The Board of Managers of the National Broker Portal, a joint venture between Broker Public Portal (BPP) and Homesnap, announced on Sept. 9 that Joseph Rand of Better Homes and Gardens Real Estate|Rand Realty of Nanuet has been named executive director of the Broker Public Portal with Homesnap. Rand will remain the Chief…

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Rand Predicts Record Home Closings in September Regionwide

September 2020

NANUET—While the third quarter 2020 residential sales numbers will not be released by OneKey MLS until next month, Better Homes and Gardens Rand Realty executive Joseph Rand in a sneak preview said the region is currently enjoying a very robust sales market. “The (sales) surge continues,” Rand said. He noted that in August, new deals…

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Construction Begins on 303-Unit Apartment Project in White Plains

September 2020

WHITE PLAINS—In some good news in the times of COVID-19 for the Westchester County economy, The NRP Group announced on Aug. 31 it had broken ground on a new community of 303 market-rate apartments along the I-287 corridor in White Plains. Situated on a 70-acre site at 1133 Westchester Ave. that previously served as the…

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Legends Realty Joins Expanding Corcoran Group

September 2020

TARRYTOWN—Legends Realty, after nearly 10 years as an affiliate of William Raveis Real Estate, has joined the growing The Corcoran Group, LLC. The brokerage firm, which has locations in Tarrytown, Briarcliff Manor and Irvington, now operates as Corcoran Legends Realty. The launch of the Legends affiliate was announced today virtually by The Corcoran Group President…

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City of Newburgh Issues RFP for Iconic ‘City Club Building’

August 2020

NEWBURGH—While Orange County is in the midst of a solicitation for two storied properties on Grand Street here, the City of Newburgh has issued a Request for Proposals on Aug. 24 for developers to redevelop the iconic City Club Building at 120 Grand St. The Mayor’s Strategic Economic Development Advisory Committee, in coordination with the…

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R2M Realty Set to Open Branch Office in Pearl River

August 2020

NYACK—Locally-based R2M (Ready to Move) Realty is putting the finishing touches on its new branch location at 42 East Central Ave. in the heart of Pearl River that will open its doors next month. Broker/Owner Kenyatta Jones-Arietta told Real Estate In-Depth that a planned soft opening for the new office is scheduled for Thursday, Sept.…

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After Broad Industry Criticism, FHFA Delays Controversial Refi Loan Fee

August 2020

WASHINGTON—A little over a week after first proposing a controversial 0.5% Adverse Market Refinance Fee on Fannie Mae and Freddie Mac loans, the Federal Housing Finance Agency announced on Aug. 25 that it would delay the fee’s implementation until Dec. 1, 2020. The FHFA first announced the Adverse Market Refinance Fee on Aug. 12 and…

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Northeast Home Sales Soared by a Record 31% in July

August 2020

WASHINGTON—Proof that the local home sales market is very strong despite the COVID pandemic can be found in the latest statistics released today by the National Association of Realtors. NAR reports that existing-home sales in the Northeast rose by a record 30.6% in the month of July. NAR reported that nationwide home sales continued on…

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New York Taking Early Steps Toward COVID Jobs Recovery

August 2020

ALBANY—While noting that July labor statistics are expected to be released soon, New York State Comptroller Thomas DiNapoli issued a report today that chronicled both the devastating impacts to the state’s labor force in the early days of the coronavirus pandemic and the recent inroads that have been made toward recovery since the state’s economy…

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Rockland County Executive Proposes Sain Building Sale As County is ‘Being Battered from all Sides' by COVID

August 2020

NEW CITY—Saying the county is “being battered from all sides” from the coronavirus and faces significant revenue shortfalls ahead, Rockland County Executive Ed Day submitted three draft Resolutions to the County Legislature on Aug. 18 that include reviving a plan to sell a shuttered county-owned office building and raising the county’s sales tax. Day says…

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