Residential

Developer Elk Homes Launches Sales Of Mamaroneck Luxury Townhomes

August 2018

MAMARONECK—Elk Homes, a Rye-based developer of high quality rental and multi-family housing, has announced the start of sales of Coastal Court, an exclusive collection of luxury townhomes in the heart of Downtown Mamaroneck. Coastal Court features three townhome residences each with two bedrooms, two-and-a-half baths and 9- and 10-foot ceiling heights throughout. Two of the…

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Rand Realty Teams Up with N.J.’s Tri-County Realty

August 2018

NANUET—Better Homes and Gardens Rand Realty reported that it continues to grow its Northern New Jersey operations, following its Wayne office’s acquisition of Tri-County Realty, which was located in Wayne and owned by Joseph Palermo, a broker/salesperson. “I’ve had the privilege of leading my brokerage for 20 years, and I’m grateful to be given the…

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Westchester Realtors Hit Back on Reports of Troubled Market

August 2018

WHITE PLAINS—Westchester residential brokerage executives and industry analysts responding to multiple trade press reports of a troubled Westchester housing market caused by the impacts of the cap on state and local taxes, hit back saying demand is still high and prices are rising. Relying on the second quarter home sales market statistics released by the…

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U.S. Metro Home Prices Climb to New All-Time High

August 2018

WASHINGTON—Amidst staggeringly low inventory levels in much of the country during the second quarter, existing-homes sales cooled and home prices maintained their robust level of appreciation, according to the latest quarterly report by the National Association of Realtors released on Aug. 8. Last quarter, the San Francisco metro area joined the San Jose metro area…

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Westchester Tries to Put Fair Housing Case in Rear View

August 2018

WHITE PLAINS—In a move that could eventually free up federal housing funding to county municipalities after being frozen for eight years due to the county’s fair housing battle with the U.S. Department of Housing and Urban Development, Westchester County Executive George Latimer has re-established the Westchester Urban County Consortium. The new consortium is comprised of…

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President Signs Flood Insurance Extension

August 2018

WASHINGTON—On July 31, President Donald Trump signed into law the “National Flood Insurance Program Extension Act of 2018” (S. 1182), which reauthorizes the Federal Emergency Management Agency to enter into new contracts for flood insurance through Nov. 30, 2018. The President’s action came after the U.S. Senate passed the short-term flood extension measure by an…

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Yonkers IDA Approves Incentives for Rehab Of Apartment Building on Ashburton Avenue

August 2018

YONKERS—The Yonkers Industrial Development Agency on July 26 announced it had approved financial incentives for the rehabilitation of a seven-story apartment building at 70 Ashburton Ave. The project, which involves the complete renovation of an existing vacant apartment building, is a transformative development for this corridor of the city that creates new housing opportunities and…

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GDC Opens Gateway Townhomes; Continues Construction on Fort Hill Apartments Project

August 2018

PEEKSKILL—The revitalization of Downtown Peekskill is moving forward with a host of projects underway. On July 26, Ginsburg Development Companies joined with Peekskill Mayor Andre K. Rainey and Deputy County Executive Ken Jenkins and other city and county officials to celebrate the Grand Opening of GDC’s Gateway Townhomes development. Meanwhile, GDC has commenced construction on…

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NAR: Severe Housing Shortage Not Releasing its Grip

July 2018

WASHINGTON— Existing-home sales decreased for the third straight month in June, as declines in the South and West exceeded sales gains in the Northeast and Midwest, according to a report released by the National Association of Realtors on July 23. The ongoing supply and demand imbalance helped push June’s median sales price to a new…

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Young Blood Making Impact on Industry

July 2018

WASHINGTON—The income and sales volume of National Association of Realtors members dropped slightly over the last year, but membership increased as younger members continue to enter the industry, according to the 2018 National Association of Realtors Member Profile released recently. This past year, there was a rise in new members from 1.22 million in March…

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New York State Hits Back Against Tax Reform Law

July 2018

NEW YORK CITY—New York Gov. Andrew Cuomo followed through on his threat and announced on Tuesday that New York State had filed a lawsuit against the federal government over what it termed as the unconstitutional federal tax reform law enacted earlier this year. The lawsuit contends the new SALT (state and local tax) cap was…

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Houlihan Lawrence Open Houses to Appear on Waze App.

July 2018

RYE BROOK—In its latest effort to maximize exposure for its listings, Houlihan Lawrence has begun feeding its Open Houses to Waze, a community-based traffic and navigation app. Each Open House will receive a branded pin on the map at its location, along with a separate takeover ad that a user would see when at a…

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Weichert, Realtors Participates in New City Summer Street Fair

July 2018

NEW CITY—Sharon D’Orazio, manager of Weichert, Realtors’ New City sales office, reported that her office participated in the New City Summer Street Fair, which took place recently on Main Street. The event, hosted by the Town of Clarkstown, included entertainment, rides, games, bounce houses, food, vendors, arts and crafts, face painting and live music. Weichert…

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Berkshire Hathaway HomeServices Partners with NetJets

July 2018

WALLINGFORD, CT—Berkshire Hathaway HomeServices New England, New York and Westchester Properties announced recently a strategic partnership with aviation firm NetJets. With the new alliance, Berkshire Hathaway HomeServices agents and their clients will have access to NetJets benefits. “Through our alliance with NetJets, we are thrilled to offer our agents and clients a luxurious private aviation…

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Grand Lux Realty Reaches 200-Agent Milestone

July 2018

ARMONK—Michael Levy, principal broker of Grand Lux Realty, of Armonk reported recently that the firm had achieved the 200-agent mark as of June 1, 2018. Mr. Levy stated, "I'm proud to announce that our company has achieved the milestone of having recruited 200 agents. We have worked hard to get to this point and it…

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$95M Mount Vernon Affordable Housing Project Breaks Ground

July 2018

MOUNT VERNON—New York State Homes and Community Renewal announced on June 27 the start of construction of an approximately $95 million, 100% affordable housing development called 22 South West in Downtown Mount Vernon. The mixed-use project being built by MacQuesten Development is immediately adjacent to the Mount Vernon West Metro-North Station, and will feature 189…

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Chappaqua Crossing Apartments Opening Marks New Chapter at Former Reader’s Digest Property

July 2018

CHAPPAQUA—New York State Homes and Community Renewal and Wilder Balter Partners announced recently the completion of a $21-million affordable housing development at the iconic Reader’s Digest headquarters building that created 64 mixed-income apartments. The original Georgian-style brick building with its signature cupola opened in 1939 and for seven decades served as the headquarters for the…

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$136M Westchester Avenue Redevelopment Project Gets Preliminary Nod From IDA

July 2018

WHITE PLAINS—A plan to redevelop an underutilized stretch of Westchester Avenue in White Plains that will feature more multifamily development and some retail space in the downtown district is progressing. A proposal by Sabre Chauncy, WP, LLC to build 276 units of rental housing and nearly 25,000 square feet of retail space at 80-100 Westchester…

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Second Quarter Home Sales Lower in Most Hudson Valley Markets

July 2018

WHITE PLAINS—Second quarter home sales figures in the lower Hudson Valley region served by the Hudson Gateway Multiple Listing Service Inc. appear to be following a patten of deja vu in terms of price appreciation and constricting inventory. In most areas of the region the median sales price for a single-family residential home increased by…

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