Residential

Wilder Balter Acquires Tarrytown YMCA Building for Nearly $6.5 Million

April 19, 2021

TARRYTOWN—Wilder Balter Partners Inc. of Chappaqua has acquired the iconic YMCA building in Tarrytown for $6.45 million and plans to redevelop the property into affordable housing project. The development firm plans to convert the four-story brick building at 62 Main St. into 109 units of affordable housing. The project will also feature additional parking for…

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First Quarter Home Sales in HGAR Region Set New Records

April 14, 2021

WHITE PLAINS—The first quarter of 2021 was “one for the books” for the suburban New York City residential market. In the era of COVID-19, residential sales in the Hudson Gateway Association of Realtors’ market area plummeted early on and slowly increased as restrictions were lifted. In the first quarter of 2021, sales skyrocketed to new…

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NAR Finds Home Staging Helps Buyers Visualize, Sell Homes Faster

April 14, 2021

WASHINGTON—A newly released survey from the National Association of Realtors reveals that home staging continues to be a significant part of the home buying and selling process. The biennial report, the 2021 Profile of Home Staging released on April 6, examines the elements of home staging, including the perspectives of both buyers' and sellers' agents,…

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Developers Have Some Big Plans for the Hudson Valley’s Small Cities

April 14, 2021

The cities of Peekskill in Westchester County and Newburgh in Orange County may be smaller than other major cities in the Hudson Valley, but both have some big development plans in the works. Peekskill, which has seen major changes over the past 10 years, is gearing up to add five new affordable and market rate…

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State Supreme Court Judge Strikes Down NYC Broker Fee Ban

April 11, 2021

ALBANY—New York State Supreme Court Judge Susan Kushner issued a ruling that is being viewed as a major victory for the real estate industry, terming Department of State guidance that banned New York State apartment tenants from paying broker fees “an error of law.” The ruling, first reported by The Real Deal, was handed down…

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First Quarter Home Sales in HGAR Region Were Simply ‘Staggering’

April 7, 2021

WHITE PLAINS—Officials with OneKey MLS and the Hudson Gateway Association of Realtors described first quarter 2021 residential sales in Westchester, Putnam, Rockland, Orange, Sullivan, and Bronx counties as “staggering” and “unprecedented” with sales in certain markets as much as 62% higher than a year earlier. Editor’s Note: The following is the full text of the…

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Three Major NYC Residential Brokerages Join OneKey MLS

April 6, 2021

NEW YORK—The Hudson Gateway Association of Realtors, Inc. and OneKey MLS, the New York metro area’s first regional multiple listing service, reported on April 6 that a slate of new members has joined OneKey MLS in order to take advantage of the MLS’s reach and the rich data to service their clients from Montauk to…

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Commercial, Multifamily Mortgage Delinquencies at Lowest Levels Since Start of Pandemic

April 2, 2021

WASHINGTON—Delinquency rates for mortgages backed by commercial and multifamily properties decreased again in March, reaching the lowest level since the onset of the COVID-19 pandemic, according to the Mortgage Bankers Association's latest monthly CREF Loan Performance Survey. “Commercial and multifamily mortgage delinquencies fell for the third straight month in March and are now at their…

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HGAR Launches ‘Fair Housing Challenge’ Initiative In Observance of National Fair Housing Month

March 31, 2021

WHITE PLAINS—The Hudson Gateway Association of Realtors has announced it is launching its “Fair Housing Challenge” initiative in observance of the U.S. Housing and Urban Development’s “National Fair Housing Month” for April. HGAR’s “Fair Housing Challenge” has been distributed to its 13,000 Realtor members stretching from Manhattan to Orange County, and consists of three segments—a…

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City of Newburgh Issues RFPs on Three East End Development Sites

March 30, 2021

NEWBURGH—The City of Newburgh is seeking development proposals for three city-owned properties located in the heart of the Newburgh’s East End Historic District. The city announced on March 17 that the first proposal calls for the rehabilitation of 120 Grand St., formerly known as the “City Club” building. A second proposal seeks the restoration of…

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Construction Begins on $36M Affordable Seniors Housing Project in White Plains

March 30, 2021

WHITE PLAINS—The New York State Homes and Community Renewal, MDG Design + Construction LLC, Smith & Henzy Advisory Group, Inc., and partners announced on March 29 the start of a $35.8-million rehabilitation of Kingsley House, a 164-unit affordable, Mitchell-Lama housing development for seniors in White Plains. The project will preserve affordability for residents while modernizing…

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New York Lawmakers Push for SALT Cap Repeal

March 26, 2021

WHITE PLAINS—New York federal representatives and Westchester County Executive George Latimer staged a press conference on March 25th at the home of a White Plains resident to push for the repeal of the controversial SALT (State and Local Tax) deduction cap. U.S. Rep. Mondaire Jones (NY-17), U.S. Rep. Tom Suozzi (NY-03), U.S. Rep. Jamaal Bowman…

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NAR Warns of Possible Slowdown Due To Low Inventory, Rising Interest Rates

March 23, 2021

WASHINGTON—Existing-home sales declined in February, following two prior months of gains, reported the National Association of Realtors on March 22. Month-over-month, only one major region saw an increase in February, but all four U.S. regions recorded year-over-year gains. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 6.6% from January…

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Edge-on-Hudson Earns National NAHB Awards

March 19, 2021

SLEEPY HOLLOW—The Edge-on-Hudson, a mixed-use, transit-oriented community under development in Sleepy Hollow was honored in March with the Gold Award for 2021 MultiFamily Community of the Year at the National Association of Home Builder’s The Nationals awards program. Additionally, Edge-on-Hudson earned Gold Awards for Best Video and Best MultiFamily Model Home for The Carroll by…

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NAR: Millennials Dominate Home Buying Market, Generation Z Now Active Buyers as Well

March 17, 2021

WASHINGTON—The popularity of multigenerational homes increased over the last year, as a rising number of homebuyers purchased larger residences compared to prior years, including millennials who continue to make up the largest share of homebuyers at 37%, the National Association of Realtors reported on March 16. The finding is one of a number of trends…

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Five Questions With NAR President Charlie Oppler

March 17, 2021

Charlie Oppler took over as president of the National Association of Realtors at a pivotal time for the national organization and for the nation’s real estate industry as well. With the advent of COVID vaccines and mass distribution now underway, the 1.4 million NAR members and the nation are beginning to adjust to what will…

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