WHITE PLAINS— In one of the biggest legislative victories in the history of the Hudson Gateway Association of Realtors and its predecessor organizations, Westchester County Executive George Latimer signed into law today a bill aimed at reforming the cooperative purchase process. At a press conference on Dec. 14 County Executive Latimer signed the bill, sponsored…
Read MoreYONKERS—The Board of Directors of the Yonkers Industrial Development Agency has approved a resolution of intent earlier this month with the developer of a former loft warehouse in the Carpet Mills Art District. The project by Momentum Realty Associates of Yonkers will convert the light-industrial building at 222 & 252C Lake Street into an office…
Read MoreWHITE PLAINS—The Westchester County Industrial Development Agency has granted preliminary and final approvals for more than $531 million in new development projects in White Plains, Harrison and Pelham. On Nov. 29, the Westchester County IDA granted a resolution of intent to provide financial incentives for AvalonBay Communities’ $76.8-million transit-oriented, mixed-use residential project to be built…
Read MoreNEW ROCHELLE—A partnership of Azure Partners and Harbor Group International, LLC has acquired the 40-story Halstead New Rochelle Metro North apartment tower here for $259.4 million. The tallest residential building in Westchester County was sold by the DSF Group, which acquired the 588-unit apartment building in 2013 for more than $210 million. Holliday Fenoglio Fowler,…
Read MoreWASHINGTON—On Nov. 27, the Federal Housing Finance Agency announced it will raise the national conforming loan limit for 2019 by 6.9% from $453,100 to $484,350. In addition, the high-cost limit will rise from $679,650 to $726,525. As a result, loan limits will be higher in all but 47 counties or county equivalents across the country…
Read MoreOn Nov. 20, 2018, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively "the agencies") released a proposed rule that would increase the current threshold for residential real estate transactions requiring an appraisal to $400,000. The current threshold is $250,000.…
Read MoreWASHINGTON—Sales of newly built, single-family homes fell to a seasonally adjusted annual rate of 544,000 units in October after an upwardly revised September report, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the lowest sales pace since December 2016. However, on a…
Read MoreWHITE PLAINS—Ginsburg Development Companies LLC recently unveiled its transformative plan for the Westchester Financial Center in Downtown White Plains to the White Plains City Council. The City Square project calls for the renovation of the existing office complex and the conversion of a portion of the office space into multifamily housing and retail and community…
Read MoreWASHINGTON—Existing-home sales increased in October after six straight months of decreases, according to the National Association of Realtors. Three of four major U.S. regions saw gains in sales activity last month. 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, increased 1.4% from September to a seasonally adjusted…
Read MoreWASHINGTON—An Ernst & Young LLP survey of Millennials across the country clearly shows the weight of the Great Recession and student loan debt have on their views of the economy and on their plans to purchase a home. Ernst & Young LLP released the results of its survey of Millennials across the country on Nov.…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors secured one of its more significant legislative victories in years on the evening of Nov. 19 when the Westchester County Board of Legislators overwhelmingly approved a compromise co-op transparency bill. The bill will establish new rules to make the cooperative sales process faster for buyers and sellers and…
Read MoreWESTPORT, CT—Berkshire Hathaway HomeServices New England Properties announced recently that the firm’s Westport office has moved to 20 Wilton Road, a Class-A waterfront space at the National Hall complex, located directly on the Saugatuck River. With an abundance of natural light, the nearly 4,400-square-foot office is located on the second floor of this state-of-the-art property.…
Read MorePLEASANTVILLE—ERA Insite Realty, as part of its spirit of giving back to the community, sponsored and organized a “Paint Nite” fundraiser on September 25th at the Mt. Pleasant Community Center in Valhalla to benefit the programs at North East Westchester Special Recreation. The event was spearheaded by Kathy Courtney, licensed real estate salesperson with ERA…
Read MoreNYACK—Ellis Sotheby’s International Realty and Edward Hopper House Museum & Study Center raised nearly $33,000 during a recent event for the Edward Hopper House’s arts education program, which has supported over 1,000 Hudson Valley public school students in grades K-12. The Oct. 6 benefit, now in its third year, drew approximately 100 attendees and raised…
Read MoreMAMARONECK—Grand Lux Realty announced on Nov. 5 that it has formed a partnership with Benchmark Property Management. The new company will be titled Grand Lux Realty-Benchmark and the office will be located at 951 East Boston Post Road in Mamaroneck. This will be Grand Lux Realty’s fourth office with other locations in Armonk, Ardsley, and…
Read MoreWHITE PLAINS—The long sought-after battle to enact legislation to bring transparency to the cooperative purchase process in Westchester County appears to be at hand. An overwhelming majority of those in the residential real estate and cooperative management sectors testified at a public hearing on Oct. 29 in favor of a compromise bill negotiated by county…
Read MoreELMSFORD, NY -- Hudson United Mortgage Services, LLC, a full-service mortgage banker/broker licensed in New York, New Jersey, Connecticut, and Florida, is growing its footprint in Westchester County with the opening of a new office at 570 Taxter Road in Elmsford. The firm also reported it has brought on Donald Arace, a veteran of the…
Read MoreRHINEBECK—H.H. Hill Realty Services Inc., a prominent boutique firm with deep roots in Rhinebeck, has recently joined Houlihan Lawrence’s Hudson Valley brokerage team. H.H. Hill, which has a vintage, family-owned office on Montgomery Street in the heart of the Village of Rhinebeck, has six agents who specialize in the sale and purchase of Hudson River…
Read MoreBOSTON—The National Association of Realtors installed John Smaby, a second-generation Realtor from Edina, MN as 2019 president of the National Association of Realtors during the 2018 Realtors Conference & Expo being held here. Smaby was NAR's 2018 president-elect and 2017 first vice president. He has been in the industry for nearly 40 years and is…
Read MoreYONKERS—City officials hope to end more than four decades of frustration and failed attempts to develop the Chicken Island property in Downtown Yonkers. In what city officials termed as a “game changer” for the downtown district, the City of Yonkers announced on Oct. 29 it had signed a letter of intent to sell the six-acre…
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