421-a is a concession for multi-family residential buildings in New York City that allows developers to obtain a tax abatement in order to create affordable housing. The abatement freezes taxes for many years in exchange for additional inventory at below market rate rentals. Critics contend the program does not really provide an adequate number of…
Read MoreKIRYAS JOEL—Representatives of the Village of Kiryas Joel announced a plan earlier this week to begin a petition drive that would seek to have the Orange County Legislature approve the formation of the new Town of North Monroe, which would consist of the existing Kiryas Joel community and reportedly an additional 382 acres outside of…
Read MoreWHITE PLAINS—The popular lore for some time among many real estate professionals and most media pundits is that Millennials are shunning the suburbs and instead are flocking to major cities in search of collaborative office space and rental housing in a “24-7 live-work environment.” A report appropriately entitled “Myth Buster: Young Americans Do Like The…
Read MoreNANUET—Better Homes and Gardens Rand Realty has announced it was awarded the Middletown Times Herald-Record’s Readers’ Choice Award for top real-estate agency in the Hudson Valley. “We’re honored to be given this recognition by one of the region’s top publications,” said Joseph Rand, managing partner of Better Homes and Gardens Rand Realty. “The Hudson Valley…
Read MoreWASHINGTON—On Friday, July 29th, President Barrack Obama signed into law H.R. 3700, the "Housing Opportunity Through Modernization Act.” The legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and was long supported by the National Association of Realtors. The U.S. Senate had approved the measure by unanimous consent on…
Read MoreNEW YORK—The late poet and author Maya Angelou’s former brownstone townhouse in Harlem was sold by Westchester brokerage firm Link NY Realty for a reported purchase price of approximately $4 million. Listing Broker Valon Nikci, CEO of Bronxville-based Link NY, said, “The home is a record breaker, being the most expensive single-family home per square…
Read MoreWHITE PLAINS—The ownership of the Esplanade Senior Residences of White Plains has agreed to pay more than $528,000 to 139 elderly residents who were allegedly forced from their homes to make way for the development of a luxury rental apartment development there. New York State Attorney General Eric T. Schneiderman announced the settlement agreement on…
Read MoreMOUNT VERNON—In a deal the development firm says reaffirms and expands its investment in the economic revival of the City of Mount Vernon, the MacQuesten Companies reported recently it had purchased the Mount Vernon West station on Metro-North’s Harlem Line. While the station’s platforms are owned by Metro-North, the station building has been privately owned…
Read MoreEditor’s Note: The following is the full text version of the 2016 Second Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland and Orange Counties, New York released recently by the Hudson Gateway Multiple Listing Service. WHITE PLAINS—Prospective homebuyers who were out in force during the first several months of 2016 came to the…
Read MoreDOBBS FERRY— Joseph A. Valvano, president of Coldwell Banker Residential Brokerage in Connecticut and Westchester County reported on July 1 that Mark Turken, Pedro Hidalgo and Jonathan Klein of Westchester Realty NY LLC have affiliated with Coldwell Banker’s Dobbs Ferry office. Turken is an award-winning real estate broker who established Westchester Realty NY, a real…
Read MoreMONTGOMERY— R.J. Smith and Gerald and Rosemary Skoda, outstanding business and civic leaders, will be honored by the Community Foundation of Orange and Sullivan during its annual reception on Nov. 16, at Anthony’s Pier 9 in New Windsor. More than 400 community and key business leaders are expected to attend the dinner event, where the…
Read MoreRYE—On June 9th, Houlihan-Parnes Realtors celebrated the firm’s 125th anniversary at the Westchester Country Club in Rye. Founded in 1891 by Daniel J. Houlihan, an Irish immigrant, the company has always been family owned and operated and is proudly celebrating its 125th year of continuous operation. Since the late 1800s, the firm originally was founded…
Read MoreOSSINING—A host of state, county and local dignitaries joined veteran residential real estate developer Martin Ginsburg on June 23rd in cutting the ribbon on Harbor Square, a $65-million luxury multifamily waterfront project here. The Harbor Square development site has been the focal point of development for nearly 20 years. In 1998, Westchester developer Louis Cappelli’s…
Read MoreDrones have become increasingly popular as an advertising tool for real estate professionals. Regulators have heretofore compelled drone operators to apply for a “Section 333” waiver from the FAA before they are ready to go airborne. With Google Earth and other live images already out there, it would have been unlikely for the government to…
Read MoreALBANY—Gov. Andrew Cuomo signed into law the “zombie property” bill on June 23rd. The legislation, which passed the State Legislature, is geared to combating the blight of vacant and abandoned properties throughout the state providing further assistance to those in danger of losing their homes, and in some cases expediting the foreclosure process. Gov. Cuomo…
Read MoreCORNWALL—Ginsburg Development Companies announced the grand opening later of the new model homes at Stone Hollow at Cornwall, an enclave of 28 stylish single-family homes located in the quaint Hudson River community of Cornwall. GDC Principal Martin Ginsburg told Real Estate In-Depth that his firm began the development just prior to the Great Recession, but…
Read MoreWALLINGFORD, CT—Berkshire Hathaway HomeServices New England and Westchester Properties stated that is a proud supporter of hiring veterans and welcomes every opportunity to hire the men and women who have served the country (and their spouses) through the company’s Veterans to Realtors program. The Veterans to Realtors program helps veterans get started in an exciting…
Read MoreNANUET— Better Homes and Gardens Real Estate-Rand Realty announced earlier this month it had received the brand’s national Community Involvement Excellence Award. The distinction is given to the companies that provide exceptional assistance to their clients and whose team gives back to the community in which they live and work. “It’s an honor for our…
Read MoreMIDDLETOWN—On Thursday May 12, Keller Williams Hudson Valley United celebrated Red Day by helping two local causes. The residential brokerage firm divided its efforts to helping two counties. One contingent went to the local YMCA in Middletown to help beautify its children’s community center and get it ready for the season, weeding, mulching, cleaning equipment, painting and…
Read MoreALBANY - The New York State Department of Tax and Finance has published a form for distribution to new homeowners that provides guidance on the new STAR tax credit program, the New York State Association of Realtors reported on June 7. Homeowners who purchased their current home prior to May 1, 2014 and already receive…
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