NEW YORK—A portfolio of eight Mitchell-Lama apartment buildings in the Bronx totaling 1,275 units has changed hands in a deal valued at $166 million. A partnership of LIHC Investment Group, Belveron Partners and Camber Property Group announced the acquisition on Jan. 3 of the Bronx Park portfolio from Cammeby’s International Group. The deal includes the…
Read MoreWASHINGTON—Pending home sales increased in November, rebounding from the prior month’s decline, according to the National Association of Realtors. The West region reported the highest growth in November, while the other three major U.S. regions saw only marginal variances in month-over-month contract activity. Pending home sales were up nationally and up in all regions compared…
Read MoreYONKERS—The Municipal Housing Authority for the City of Yonkers reported recently it renovated a total of 1,336 housing units in 2019 and had 86 under construction and 338 in the pipeline for renovation in 2020. In July of 2017, MHACY launched a $300-million, three-year plan to renovate more than 1,700 units of public housing in…
Read MoreWASHINGTON—Existing-home sales fell in November, taking a small step back after October’s gains, according to data released recently by the National Association of Realtors. The Northeast and Midwest both reported sales growth last month, while the South and West saw sales decline. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops,…
Read MoreALBANY—The Mid-Hudson Regional Economic Development Council’s string of consecutive designations as a “Top Performer” in the annual Consolidated Funding Application program was halted at three years. On Dec. 19, Gov. Andrew Cuomo announced that the Mid-Hudson was not among “Top Performers” for 2019, but would still receive $65.8 million that would support a total of…
Read MoreCHESTER– New York State Attorney General Letitia James announced on Dec. 5 she had taken action to fight what she terms are discriminatory housing practices the Town of Chester and Orange County have utilized to prevent members of the Jewish community from moving to Chester. Attorney General James filed a motion to intervene in a…
Read MoreWHITE PLAINS—Michelle Madaffari of A Savvy Affair and Associate Real Estate Broker with Coldwell Banker held her 12th annual holiday party and toy drive for Blythedale Children's Hospital in Valhalla on Tuesday, Dec. 3 at Graziella's Restaurant in White Plains. The event collected more than 150 toys, gifts and funds for the children.
Read MoreALBANY—In response to recent published reports of alleged fair housing discrimination on Long Island, the Real Estate Board of New York on Dec. 16 approved new regulations for real estate professionals to help combat housing discrimination. The new regulations, which the New York State Real Estate Board approved today, mandate enhanced disclosures by real estate…
Read MoreBronx Economy Continues to Attract Significant Investment With the publication of Real Estate In-Depth’s first special section on the Bronx, we thought it appropriate that our readers learn first-hand from the borough’s chief executive—Bronx Borough President Ruben Diaz Jr.—on the state of the borough. There is a lot happening in this borough made famous by…
Read MoreWASHINGTON—A group of top economists arrived at a consensus 2020 economic and real estate forecast recently at the National Association of Realtors first-ever Real Estate Forecast Summit. The economists who gathered at NAR's Washington, D.C. headquarters expect the U.S. economy to continue expanding next year while projecting real estate prices will rise and reiterating that…
Read MoreWHITE PLAINS—Development partners Saber Real Estate Advisors LLC, PCD Development LLC, and Circle Squared Alternative Investments broke ground on Dec. 4 on “The Duet,” luxury multi-family residential complex on Hale and Maple avenues in White Plains. The development, across from the Neiman Marcus entrance at The Westchester and adjacent to Whole Foods, will feature 127…
Read MoreBRIARCLIFF MANOR—The Club at Briarcliff Manor recently welcomed its first residents to the new senior living community that features assisted living and independent living apartments and memory care. Set atop a scenic wooded site with panoramic views of the Hudson River and once home to the iconic Briarcliff Lodge, The Club at Briarcliff Manor features…
Read MoreALBANY—New York Gov. Andrew M. Cuomo signed on Dec. 4 legislation (A.6188/S.2605) protecting rent regulated tenants from landlord harassment by preventing landlords from creating unsafe, disruptive or uninhabitable conditions in order to force tenants out of their homes. The previous law only provided protections to tenants who could demonstrate physical injury and failed to take…
Read MoreWHITE PLAINS—A developer that is seeking to redevelop a vacant office building into a 450-unit rental apartment complex secured a preliminary inducement of $6.57 million in mortgage and sales tax exemptions from the Westchester County Industrial Development Agency. The Westchester IDA granted the incentive package to 3 WPD Apartments LLC, an affiliate of Marcus Partners…
Read MoreALBANY—New York Gov. Andrew M. Cuomo and New York Attorney General Letitia James announced that New York, Connecticut, Maryland and New Jersey have filed a notice of appeal to the U.S. Court of Appeals for the Second Circuit to continue litigation against the federal government for what they term as the unlawful and unprecedented cap…
Read MoreNANUET—Mill Creek Residential Trust of Boca Raton, FL and an unnamed partner have acquired the 504-unit The Peaks of Nanuet apartment community here in what is believed to be a record deal in Rockland County. The firm purchased the property from a partnership of New York City-based Harbor Group International and Azure Partners. The deal…
Read MoreDorothy Botsoe, Dorothy Jensen Realty Inc. Mitch Roschelle, Partner, PwC Dean Foster, Founder DFA Intercultural Global Solutions, LLC, President, Dean Foster Global Cultures Luciane Serifovic, CEO & Founder, Luxian International Realty Global Market Highlights Panel: Federico Ranuzzi de'Bianchi, Principal Broker, Ranuzzi & Giordani Real Estate Agency; Raj Rajpal, Mortgage Consultant, Wells Fargo Home Mortgage;…
Read MoreNEW YORK—A panel of veteran real estate investors, financiers and brokers took a deep dive at the Global Real Estate Summit NYC 2019 on the health of the New York City metro markets and who will be the sources of needed capital for new development projects. The panel, moderated by Eric Zollinger, president-elect of the…
Read MoreNEW YORK—In an informative, yet concise overview of the recently released ULI “Emerging Trends in Real Estate 2020” report, author Mitch Roschelle, partner with PwC, offered some heartening insights to attendees of the Global Real Estate Summit 2019 Conference and Expo as to why the US real estate market remains a favorite with foreign and…
Read MoreWHITE PLAINS—The Westchester County Office of Economic Development launched on Nov. 14 what it termed is a new and dynamic website called "The Catalys" to position Westchester County as the place to live, work and visit. The Catalyst website—Westchestercatalyst.com —is a total departure from the current site and reflects the Office of Economic Development’s new Catalyst…
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