Residential

HGAR Announces HQ Move to Source at White Plains

September 2015

WHITE PLAINS—As first reported in the August edition of Real Estate In-Depth, the Hudson Gateway Association of Realtors officially announced on Aug. 25 that it will be moving its headquarters from The Westchester Pavilion at 60 South Broadway to the top floor of The Source at White Plains early next year. Located at the corner…

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Study: New Home Construction Trailing Job Growth in Majority of Metro Areas

September 2015

WASHINGTON—Despite positive improvements in the labor market in recent years, new home construction is currently insufficient in a majority of metro areas and is contributing to persistent housing shortages and unhealthy price growth in many markets, according to new research from the National Association of Realtors. NAR measured the volume of new home construction relative…

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$42M in Financing Secured for Dobbs Ferry Mixed-Use Project

September 2015

DOBBS FERRY, NY—The developer of the $130-million Rivertowns Square project off the Saw Mill River Parkway here has secured $42 million in construction financing from M&T Bank and promises to resume work on the mixed-use project. In conjunction with the financing deal, developer Saber Dobbs Ferry, LLC reported that it will stage an official groundbreaking…

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Chinese Investor Buying Yonkers Waterfront Projects

September 2015

YONKERS—At the groundbreaking for the $85 million third and final phase of the Hudson Park waterfront rental apartment housing project called Hudson Park River Club here, it was revealed that Strategic Capital, a Chinese-based investment firm, is purchasing the two existing phases and is a partner on the final phase. Arthur Collins, president and co-principal…

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Ambitious New Rochelle Downtown Redevelopment Plan Moves Forward

September 2015

NEW ROCHELLE—After months of public meetings, master developer RDRXR released a recommended action plan for the redevelopment of a large swath of the Downtown district of the City of New Rochelle that has the development potential of approximately 10.7 million square feet of mixed-use space. The plan outlines development potentials in five separate downtown districts.…

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Real Estate Firms Confident Profits are in Their Future

August 2015

WASHINGTON—Real estate firms are confident in the industry’s future growth and their increasing profitability, according to the 2015 National Association of Realtors Profile of Real Estate Firms, released on Aug. 6. “A majority of firms have a positive view of the future, with 95% of all firms expecting their net income to either increase or…

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Council Keeps Current Fire Sprinkler Codes

August 2015

ALBANY—The New York State Association of Realtors reported on Aug. 19 that the New York State Fire Prevention and Building Code Council voted 10-3 to keep existing code as is and will not implement a statewide mandate on fire sprinkler installation. NYSAR and HGAR issued Calls for Action over the last several months to its…

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Home Prices Rise in Nearly All Metro Areas in Second Quarter

August 2015

WASHINGTON— A promising climb in home sales throughout the country amidst insufficient supply caused home prices to steadily rise in most metro areas during the second quarter, according to the latest quarterly report by the National Association of Realtors released on Aug. 11. The median existing single-family home price increased in 93% of measured markets,…

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NAR: Millennials Favor Walkable Communities

August 2015

WASHINGTON—City leaders in New Rochelle, White Plains and Yonkers appear to be on the right track in their efforts to transform their downtown districts into areas that welcome transit-oriented development that will create walkable communities. A recent poll indicated those strategies are right on target with a very sought-after demographic—Millennials. A recent poll conducted by…

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Weichert ‘s Suffern Office Launches Back to School With Dignity Program

August 2015

SUFFERN—Laurel Ursino, manager of the Weichert, Realtors Suffern office, reported recently that her office has joined forces with People to People and will be supporting their ‘Back to School with Dignity’ program which aims to provide essential school supplies to at-risk Rockland students. From Thursday, August 20 through Sunday, September 20 between the hours of…

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Chappaqua Crossing Owner Files Plan To Develop 32 Affordable Housing Units

August 2015

CHAPPAQUA—A proposal to create up to 32 units of affordable housing in the iconic former Reader’s Digest headquarters building at Chappaqua Crossing in the Town of New Castle was submitted to the Town Board by Summit Greenfield Partners, the owners of the 120-acre campus on July 24th. A petition was submitted to the town that…

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GDC Plans Luxury Rental Building in Yonkers

August 2015

YONKERS—The Ginsburg Development Companies recently unveiled a plan for a 55-unit luxury apartment building in the Greystone neighborhood of Yonkers. The three-story building at 1175-1183 Warburton Ave. would be built one block north of River Tides at Greystone, GDC’s much larger, 330-unit complex that is under construction. Apartments in the new building would boast 10-foot…

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Coldwell Banker Holds Learning Extravaganza

August 2015

DANBURY, CT—More than 400 real estate professionals from throughout Connecticut and Westchester County recently gathered for the Ultimate Summer Learning Extravaganza hosted by Coldwell Banker Residential Brokerage in Connecticut and Westchester County. The all-day learning event, which took place at the Crowne Plaza in Danbury, opened with a general session featuring expert speakers who provided…

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GATEWAY PERSPECTIVES: Safety Net

August 2015

For those observant readers of Real Estate In-Depth you may have noticed that HGAR COO Ann Garti was a guest columnist in the place of my normal column in last month’s edition. The reason for the unplanned substitution was that just a day or two before the paper went to press I learned that I…

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HGAR’s Kramer Receives WRO Fair Housing Award

July 2015

WHITE PLAINS—Hudson Gateway Association of Realtors’ Board Director and civil rights and fair housing advocate Barry Kramer received the Pioneer of Fair Housing Award from non-profit housing services agency Westchester Residential Opportunities, Inc. at a dinner in his honor on Tuesday, June 30th. The awards dinner for the popular and affable Realtor was held at…

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Baby Boomers Still a Major Force in Hudson Valley

July 2015

NEW PALTZ— Labor expert Dr. Paul Harrington of Drexel University said that the major economic driver of the Hudson Valley is still the Baby Boomers and not the Millennial generation as many economists and business experts would have you believe. Dr. Harington, the keynote speaker at the Hudson Valley Economic Development Corp.’s second State of…

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Realtor Lobby Day Leads to Successful Extension of Property Tax Cap

July 2015

 First and foremost, it’s important to thank the hundreds of Realtors who attended this year’s Lobby Day in Albany. Realtors from across the state—from Western New York, the Adirondacks, Hudson Valley, Long Island, and everywhere in between—converged on Albany to hold legislators accountable and make sure they have a firm grasp of New York Realtors’…

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GDC to Transform Convent Site Into Mixed-Use Tourist Destination

July 2015

PEEKSKILL—Building on the momentum of the launch its GDC Rentals brand, Ginsburg Development Companies announced recently plans to transform the former St. Mary’s Convent property overlooking the Hudson River in Peekskill into a resort-style tourist destination that would feature a spa, inn and restaurant as well as 178 luxury rentals apartments and 20 townhomes. Called…

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