Developer Breaks Ground on $33-Million Apartment Project in Yonkers

February 26, 2021

YONKERS—Yonkers Mayor Mike Spano and other city officials joined with executives of Regency Apartment Ventures LLC on Feb. 25 to celebrate the groundbreaking of Regency on the Hudson, a seven-story 126-unit residential building at 56 Prospect St. here. The development will feature 13 units that will be designated as affordable under the city’s Affordable Housing…

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Westchester County IDA Approves New Local Hire Labor Policy

February 25, 2021

WHITE PLAINS—The Westchester County Industrial Development Agency’s Board of Directors earlier today (Feb. 25) unanimously approved a new local hire labor policy that will require incentivized project developers hire 85% of its construction workers from the local area; require its workers complete OSHA safety training; subcontractors be enrolled in a pre-apprenticeship program and that all…

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Achieving Success by Embracing the ‘Team’ Spirit

February 24, 2021

Patricia Dantzic admits she was a bit apprehensive about re-entering the workforce with a new career in real estate. After enjoying a successful profession in corporate communications in the music industry, she switched gears, earned her license and began working at a local agency. Soon afterward, she was approached by a team member from Berkshire…

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Existing U.S. Home Sales Rose Slightly in January; Northeast Home Sales Fell More Than 2%

February 22, 2021

WASHINGTON —Existing-home sales rose in January, marking two consecutive months of growth, according to the National Association of Realtors. From a month-over-month perspective, buying activity varied in the major regions. Year-over-year, all four areas recorded double-digit gains in January. Existing-home sales in the Northeast in January declined 2.2%, recording an annual rate of 870,000, a…

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NAR Study: Black Home Buyers More Than Twice as Likely to be Rejected for Mortgage Loans than White Home Buyers

February 19, 2021

WASHINGTON—Minority homeownership continues to stubbornly lag behind the national rate, with Black Americans facing some of the toughest hurdles to achieving this essential part of the American Dream, according to a report released recently by the National Association of Realtors. The homeownership rate for Black Americans—42%—is nearly 30% less than the rate for white Americans…

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$33-Million Rental Project in Yonkers Gets Final Approval of IDA Incentives

February 12, 2021

YONKERS—The Yonkers Industrial Development Agency Board reports it recently granted final approval of financial incentives for 56 Prospect St., a $32.6 million, 126-unit apartment building. The project, which received final approval at the IDA’s Feb. 5 meeting, will be comprised of 90 studios, 18 one-bedroom units and 18 two-bedroom units with a rooftop terrace overlooking…

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RXR Realty Tops Off New Rochelle Apartment Tower

February 11, 2021

NEW ROCHELLE— RXR Realty, master developer of Downtown New Rochelle, announced on Feb. 10 the topping out of One Clinton Park, a 28-story mixed-use tower under construction here. The project created 250 on-site construction jobs, employing a diversity of contractors, including MWBE firms and local New Rochelle companies. One Clinton Park features 352 state-of-the-art, highly…

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Senate Majority Advances Housing Discrimination Legislative Package

February 8, 2021

ALBANY—The leadership of the State Senate Democratic Majority announced on Feb. 8 it will advance major legislation to continue addressing housing discrimination across New York State. The legislative package was created following two public hearings on housing discrimination that included 25 subpoenas. The package of bills is also in response to legislative suggestions outlined in…

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NYC Brokerage Firm Triplemint Expands to Westchester County

February 3, 2021

NEW YORK—New York City-based residential brokerage firm Triplemint reported on Feb. 3 it had expanded its operations to Westchester County with the defection of a number of Douglas Elliman agents. Triplemint reported that the Berkowitz Marrone Team led by Owen Berkowitz and Carol Marrone, who were the founding members of Douglas Elliman Westchester, have joined…

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SALT Cap Repeal Bill Introduced in Congress

January 29, 2021

WASHINGTON—U.S. Reps. Mondaire Jones (D-NY), Tom Suozzi (D-NY) and U.S. Senate Majority Leader Charles Schumer on Thursday introduced the SALT Deductibility Act that would remove the $10,000 cap on state and local tax deductions imposed in 2017 under the federal tax reform law. The SALT Cap was highly criticized by New York politicians, as well…

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C.S. McClellan Partners with Compass Real Estate

January 29, 2021

PELHAM—Compass, the real estate technology company, announced recently a new partnership with C.S. McClellan Real Estate, led by Sona Davidian, who maintains the boutique firm's total ownership. Founded in 1878 by the McClellan family, Davidian has owned C.S. McClellan since 1989, when she purchased it directly from the McClellan family. The company has a rich…

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NJ Developer Proposes Redevelopment of Former Kmart-Anchored Center in Yorktown

January 28, 2021

YORKTOWN—A New Jersey-based real estate development firm has unveiled plans to reposition a mostly vacant shopping center that was anchored by Kmart and Food Emporium here into a new mixed-use development that will feature 150 rental housing units and ground-floor retail. The plan by Oster Properties of Englewood Cliffs, NJ was presented for the first…

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Foley Promoted to CEO of Building and Realty Institute

January 27, 2021

ARMONK—One year after joining the Building and Realty Institute as its executive director, Timothy Foley of Scarsdale has been promoted to chief executive officer of the locally-based organization. “BRI has grown as an organization while staying true to our mission to advocate for the best interests of the realty industry to government and the community,…

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NAR: 2020 Annual U.S. Sales Registered Highest Level of Activity Since 2006; Northeast Home Sales Spiked 27.4% Last Year

January 22, 2021

WASHINGTON—Existing-home sales rose in December, with home sales in 2020 reaching their highest level since 2006, the National Association of Realtors announced today. Activity in the major regions was mixed on a month-over-month basis, but each of the four areas recorded double-digit year-over-year growth in December. Total existing-home sales, completed transactions that include single-family homes,…

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Realtors Overcame Pandemic Restrictions To Post Significant Sales Increases in 2020

January 21, 2021

WHITE PLAINS—Realtors in the Hudson Gateway Association of Realtors’ market area that includes the lower Hudson Valley region, adapted to state-imposed restrictions early in the pandemic and rode the wave of pent-up buyer demand to post sales increases as compared to 2019 activity. Sales in Westchester, Rockland, Orange, Sullivan and Putnam counties soared in the…

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