Residential

Co-op Transactions: Unmasking Hidden Discrimination

November 7, 2023

Reprinted from REALTOR® Magazine by permission of the National Association of REALTORS®. Copyright 2023. All rights reserved. Editor’s Note: The push by the real estate industry to bring transparency to the co-op transaction process, particularly by the Hudson Gateway Association of Realtors and the New York State Association of Realtors, was the subject of a…

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Report: New York State IDAs Generated $141 Billion in Wages; Created, Retained 1.3-Million Jobs in 2021

November 3, 2023

ALBANY—In light of some criticism being leveled against Industrial Development Agencies in New York State, particularly the need and financial returns of incentives granted to development projects by IDAs, a newly released report commissioned by The New York State Economic Development Council calculates the benefits of IDA incentives in 2021 in the billions of dollars…

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Harbor Group, Cantor Fitzgerald Joint Venture Buys Avalon Mamaroneck Apartment Complex

November 3, 2023

NEW YORK—A joint venture between affiliates of New York City-based Cantor Fitzgerald L.P. and Harbor Group International, LLC of Norfolk, VA has acquired Avalon Mamaroneck, a 229-unit Class A multifamily community in Westchester County, from AvalonBay Communities, the developer of the property in the Town of Mamaroneck. Avalon Mamaroneck located at 746 Mamaroneck Ave. was…

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NAR Replaces Goldberg with Nykia Wright as Interim CEO

November 2, 2023

CHICAGO—The National Association of Realtors announced today that Nykia Wright has been appointed its interim Chief Executive Officer, starting November 20, 2023. Bob Goldberg, who announced his planned retirement in June of this year, will serve as an executive consultant to NAR to help support the transition. Goldberg has been with NAR for 30 years…

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NAR to Appeal Burnett Trial Verdict After Being Found Liable

November 1, 2023

KANSAS CITY, MO—The National Association of Realtors and two codefendants were found liable Tuesday (Oct. 31) in the federal Sitzer/Burnett trial, which challenged MLS rules and the real estate compensation model. The eight-person jury also found liable HomeServices of America and Keller Williams Realty, which were named in the lawsuit. During the 11-day trial, NAR…

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NAR: U.S. Pending Home Sales Grew 1.1% in September

October 26, 2023

WASHINGTON—Pending home sales rose 1.1% in September, according to the National Association of Realtors. The Northeast, Midwest and South posted monthly gains in transactions while the West experienced a loss. All four U.S. regions had year-over-year declines in transactions. “Despite the slight gain, pending contracts remain at historically low levels due to the highest mortgage…

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Early Condo Sales are Brisk at The Daymark in Sleepy Hollow

October 25, 2023

SLEEPY HOLLOW—The days of significant condominium development in Westchester County are long gone. However, one new luxury condo project is experiencing strong sales activity in the early days of marketing—The Daymark—being developed at the site that was once home to  a General Motors assembly plant property here. In a little more than two months since…

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HGAR’S Boyland, Stetson Nominated to OneKey MLS Board of Managers Posts

October 24, 2023

FARMINGDALE—OneKey MLS announced on Oct. 23 it completed the annual selection process and had nominated five new Managers to represent stakeholder interests for a two-year term on its Board of Managers. The newly selected Nominees will serve alongside Chairperson Frank DellAccio and Managers Leah Caro, Linda Lugo, Melissa Gomez, and Pati Holmes, together with three…

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Developers, Politicos Cut Ribbon on First Phase of $349-Million Bronx Point Project

October 20, 2023

NEW YORK—Yesterday (Oct. 19) a host of elected officials, hip-hop luminaries and community leaders joined L+M Development Partners, Type A Projects, BronxWorks, and The Hip Hop Museum for a ribbon cutting ceremony to celebrate the opening of the housing and public space components at phase one of Bronx Point, the much-anticipated $349-million mixed-use development on…

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Third Quarter Home Sales Fall Sharply in HGAR Market Area

October 19, 2023

WHITE PLAINS—While Realtors say that home buying demand is still strong, high interest rates and critically low inventory caused residential sale transactions to fall precipitously in the third quarter of 2023. According to the recently released “2023 THIRD QUARTER REAL ESTATE SALES REPORT: Westchester, Putnam, Rockland, Orange, Sullivan and Bronx counties, New York” by the…

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Northeast Existing-Home Sales Rose 4.2% in September; High Demand Sparked 5.2% Price Increase

October 19, 2023

WASHINGTON—Existing-home sales faded in September, the National Association of Realtors announced today. Among the four major U.S. regions, sales rose in the Northeast but receded in the Midwest, South and West. All four regions registered year-over-year sales declines. Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—waned 2.0% from August to a…

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Report: NYC Construction Spending to Reach $83 Billion in 2023

October 19, 2023

NEW YORK—The New York Building Congress released its “2023-2025 New York City Construction Outlook Report” on Oct. 18 where it projects that total construction spending in New York City will reach $83 billion in 2023, up $13 billion from last year, adjusting for inflation. The updated spending figure is projected to reach $261 billion over…

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New York Regional Home Price Decreased Slightly Month-Over-Month in September

October 18, 2023

FARMINGDALE, NY— For September 2023, OneKey MLS reported today a regional closed median sale price of $630,000, a 0.80% decrease as compared to the $635,000 reported in August 2023. In a year-over-year comparison, the closed median sale price increased 5.00% from $600,000, reported in September 2022. However, sales transactions and pending residential deals were down…

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RE/MAX Opulent Opens at Palisades Center

October 17, 2023

WEST NYACK— The Palisades Center mall in West Nyack recently announced the grand opening of real estate brokerage firm RE/MAX Opulent on Level One near Best Buy. RE/MAX Opulent is headed by Broker Zulma Valnetin and Vice President of Operations Jian Gonzalez. The brokerage features an experienced and dedicated team of real estate professionals that…

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Politicos, Real Estate Executives Flock to HGAR’s ‘Bronx County Day’

October 16, 2023

NEW YORK—The Hudson Gateway Association of Realtors held its second annual “Bronx County Day” recently that was attended by more than 100 Realtor members and staff, as well as a host of politicians representing the borough, including Bronx Borough President Vanessa Gibson. At the event, held at the Castle Hill YMCA, commercial and residential real…

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