ALBANY—While President Donald Trump is pondering whether to restarting some segments of the economy in some areas by May 1, New York Gov. Andrew Cuomo announced today that he will extend the state’s “On Pause” restrictions until May 15. The governor said the extension of the restrictions that include the closure of non-essential businesses, schools,…
Read MoreWHITE PLAINS—The Novel Coronavirus has all but put the Hudson Valley real estate market “on pause” with Realtors forced since March 22 to navigate a myriad of regulations, including virtual showings only, to close residential transactions. A recently released report by OneKey Multiple Listing Service indicated that the market area of the Hudson Gateway Association…
Read MoreWHITE PLAINS—The COVID-19 virus has changed all of our lives. Surgical masks and gloves are now part of our daily attire and “social distancing” has become the norm. Restaurants and bars are just empty shells of their past lives, nightclub floors are devoid of bands, movie theaters are ghost towns and video chatting has replaced…
Read MoreALBANY—In nearly a month of difficult economic news and tragic fatality numbers due to the Novel Coronavirus pandemic, a glimmer of hope has emerged that the state is beginning to consider how and when non-essential businesses could reopen in New York State. On Monday April 13, Gov. Andrew Cuomo announced a regional initiative with six…
Read MoreSLEEPY HOLLOW—Construction is expected to begin next year on a new DeCicco & Sons market at the Edge on Hudson project being developed at the former General Motors Assembly plant here. The deal marks the first retail property to sign on at the Edge on Hudson development and marks the first grocer to operate in…
Read MorePORT CHESTER—Anthos Properties of Nanuet has acquired The Castle luxury multifamily development here from institutional investors advised by J.P. Morgan Asset Management for $38.6 million. In connection with the purchase, Anthos Properties secured a $28-million loan with Fannie Mae. The financing was arranged by JLL Capital Markets. Built in 2015, The Castle is a luxury,…
Read MoreYONKERS—Ginsburg Development Companies has added to its portfolio of multifamily properties in the Greystone section of Yonkers with the recent purchase of the Stratus on Hudson, a 74-unit luxury rental building located at 1077 Warburton Ave. GDC purchased the property in Northwest Yonkers from Stamford, CT developer Randy Salvatore’s RMS Companies who completed the building…
Read MoreWHITE PLAINS—In an ongoing effort to create stronger member engagement, awareness and communication in a continually growing association, the HGAR leadership is expanding the role of its five regional directors covering Westchester, Putnam, Rockland and Orange counties, as well as Manhattan. “As our membership and our territory increases in size, we think it’s very important…
Read MoreWHITE PLAINS—Residential home sales figures for the first quarter of 2020 were strong and indicated that a robust year for residential sales in the lower Hudson Valley region, now served by OneKey Multiple Listing Service, would follow. According to a report released by OneKey Multiple Listing Service earlier this month, that aforementioned assumption has, of…
Read MoreALBANY—Less than 24 hours after the real estate industry was led to believe that in-person real estate showings were permitted by New York State comes a statement from Empire State Development that only virtual/online showings are permissible. On the evening of April 2, an official with Empire State Development Corp. in a clarification of the…
Read MoreALBANY—Commercial and residential real estate brokers and agents received some welcome if not surprising news on April 1 when the Empire State Development Corp. clarified existing regulations, put in place in response to the Novel Coronavirus Pandemic, and deemed residential and commercial showings and back office real estate work as “essential.” The clarification therefore allows…
Read MoreNEW ROCHELLE—RXR Realty announced on March 31 that the Louis R. Cappelli Foundation had pledged $200,000 to RXR’s COVID relief efforts in New Rochelle, for a total of $1.2 million to support organizations helping New Rochelle residents impacted by the COVID-19 public health crisis. Funding will go towards programs to address both immediate needs, as…
Read MoreAs I sit here trying to find words of advice for consumers to navigate through the financial portion of COVID-19, my emotions are all over the place. It’s difficult to talk about finances when we’re all going through so much more, although, I know this information is important and crucial for some to protect against…
Read MoreWASHINGTON—Nearly half of Realtors—48%—said home buyer interest had decreased due to the coronavirus outbreak, according to a new survey from the National Association of Realtors released on March 19. That percentage tripled from a week earlier when it stood at 16%. Almost seven in 10 Realtors—69%—said there’s no change in the number of homes on…
Read MoreWASHINGTON—The U.S. Senate unanimously passed a $2-trillion COVID-19 compromise economic relief package on March 25. The bill now goes to the U.S. House, where it is expected to pass, and President Trump has said he will sign the much-needed measure into law. The National Association of Realtors reports the bill includes $350 billion for the…
Read MoreALBANY—The New York State Association of Realtors posted online the latest guidance regarding the regulations impacting the real estate industry in connection with Gov. Andrew Cuomo’s executive orders in connection with preventing the spread of the Coronavirus. The FAQ (Frequently Asked Questions) issued by NYSAR effective at 5 p.m. on March 24 answered a host…
Read MoreWASHINGTON—The U.S. Department of Housing and Urban Development has awarded more than $3 million to fair housing organizations in New York State, including a total of $425,000 to White Plains-based Westchester Residential Opportunities, Inc. to confront violations of the nation's landmark Fair Housing Act and help end housing discrimination. HUD awarded a total of more…
Read MoreNEW YORK— The Long Island Board of Realtors, Inc. and the Hudson Gateway Association of Realtors, Inc. announced on March 24 that the first regional MLS for the New York Metro area—OneKey MLS—is now live for Realtor use. OneKey MLS offers real estate professionals more coverage, precise and accurate data. A consumer-facing website is set…
Read MoreWHITE PLAINS—The real estate industry, except for those undertaking limited virtual business, was all but shut down by New York Gov. Andrew Cuomo effective 8 p.m. Sunday, March 22 in an attempt to prevent the further spread of the Coronavirus. The Executive Order issued on March 20 mandated the temporary closure of all in-office personnel…
Read MoreALBANY—New York State Comptroller Thomas P. DiNapoli issued a revised revenue projection for the 2020-2021 state budget that estimates tax revenue will be at least $4 billion below the projections in the Executive Budget of $87.9 billion if a mild recession results from the novel coronavirus pandemic. He also offered one alternative scenario if a…
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