Residential

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…

$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…

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…

HUD Charges Toll Brothers With Discrimination On Handicapped Access at Queens Condominium Project

July 2018

WASHINGTON—The U.S. Department of Housing and Urban Development announced on July 2 it charged developer Toll Brothers Real Estate, Inc., as well as a construction company and architect with housing discrimination for failing to design and construct a condominium development in the Long Island City area of Queens in compliance with accessibility requirements of the…

Exit Realty Search Merges With Rand Realty

June 2018

NEW YORK—Better Homes and Gardens Rand Realty has increased its footprint in the Bronx, the Nanuet-headquartered brokerage firm reports. Better Homes and Gardens Rand Realty has merged with Exit Realty Search of the Bronx. With the merger, the firm, brings more than 60 agents to the Rand Realty network. The brokerage firm also reported recently…

LEGISLATIVE AFFAIRS: Tell the Westchester Board of Legislators to Pass the Co-op Bill Now

June 2018

Co-op fair housing legislation is critical to ensuring affordable and available housing to everyone including those designated as a protected class under federal, state and local fair housing law. HGAR was successful in lobbying to have a law passed in Rockland County that requires a 45-day time period in which a board must accept or…

Northeast Home Sales in May Buck National Trend

June 2018

WASHINGTON — U.S. existing-home sales fell for the second straight month in May, as only the Northeast region saw an uptick in activity, according to a report released on Wednesday by the National Association of Realtors. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 0.4% to a…

Board of Legislators Vote Key for Affordable Senior Housing Project

June 2018

WHITE PLAINS— The Westchester County Board of Legislators earlier this month approved the purchase of land that will result in the creation of 56 new units of affordable housing for seniors in White Plains. The long-delayed project—Mount Hope Plaza at 65 Lake Street in White Plains—will create affordable housing units for seniors 62 years and…

Three Major Property Sales Close in Hudson Valley

June 2018

WHITE PLAINS—Three major property sales were reported by area commercial brokerage firms recently that involved multifamily and retail properties in Westchester County and a more than 123-acre site in East Fishkill formerly owned by IBM. Marcus & Millichap recently announced the sale of a three-property, 104-unit multifamily portfolio in White Plains. The portfolio sold for…

Sharon Tucker Appointed Manager Of Rand Realty’s Pearl River Office

June 2018

NANUET—Following the retirement of Teresa O’Shaughnessy, Better Homes and Gardens Rand Realty has selected Sharon Tucker as the new manager for its office in Pearl River. “This past year with Rand Realty has been one of the most-memorable of my career,” said Tucker. “I’ve learned so much in my time here thus far, and I’m…

Mid-Hudson Brokerage Expands Presence to Ulster County

June 2018

LAGRANGEVILLE, —Berkshire Hathaway HomeServices Hudson Valley Properties, announced on May 31 the acquisition of Westwood Metes & Bounds Realty Ltd., a long-tenured real estate brokerage serving Ulster County. Hudson Valley Properties adds nearly 60 agents and five offices through the transaction. The offices are located in Kingston, New Paltz, Stone Ridge, West Hurley and Woodstock.…

A Savvy Affair’s Charity Event Raises Funds for Autism Speaks

June 2018

EASTCHESTER— A Savvy Affair, an event-planning firm that specializes in charity events, hosted approximately 400 guests at Mulino's At Lake Isle in Eastchester on May 17th. The event featured a "freestyle music theme," including performances by Freestyle entertainers TKA and Cynthia. Among the attendees included many guests from the real estate industry. The program marked…

Two Veteran Westchester Realtors Form New ‘LifeNY’ Brokerage Firm

June 2018

WHITE PLAINS—Two veteran residential brokers and “Rising Stars”—Chirag Shah and Jason Wilson—have ventured out on their own and formed a new boutique brokerage firm here called “LifeNY.” The two Realtors, who both have been heavily engaged in the Hudson Gateway Association of Realtors, say their new firm will have “a laser focus on client services…

22 Condo Units at Gateway Property Offered in Bulk Sale for Nearly $8M

June 2018

WHITE PLAINS—Cushman & Wakefield has been retained on an exclusive basis to arrange the sale of 22 condominium units within the Gateway Condominiums property at 257 Central Ave. in White Plains. The asking price for the bulk package of condominium units is $7.95 million. A team led by Vice Chairman Thomas A. Donovan, along with…

Cacace Appointed Vice President Of International R. E. Federation

June 2018

SCARSDALE– Portico Realty Group recently announced that Emi Cacace has been appointed vice president of the World Council of Brokers by the International Real Estate Federation (FIABCI). As a member of the FIABCI, Cacace is equipped with the necessary training and experience to work successfully in international real estate and client relocation. Cacace, who is…

U.S. Existing-Home Sales Fell 2.5 % in April

June 2018

WASHINGTON— After moving upward for two straight months, existing-home sales retreated in April on both a monthly and annualized basis, according to the National Association of Realtors. All four major regions saw no gain in sales activity last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased…

Construction Begins on $100M St. Regis Project in Rye

May 2018

RYE—A host of state, county and local dignitaries were on hand for the official groundbreaking of the St. Regis Residences Rye here earlier this month. The project, being developed by Harrison-based Alfred Weissman Real Estate, will include 95 luxury condominium residences ranging from one- to four-bedroom units located within five three- to four-story buildings constructed…

NAR Expects Home Sales, Prices to Rise Despite Inventory, Affordability Challenges

May 2018

WASHINGTON—A stronger economy, wage growth and an improving job market are expected to march home sales and prices higher in 2018, but low supply and weakening affordability will tamper the rate of increases, according to speakers at a residential real estate forum during the 2018 Realtors Legislative Meetings & Trade Expo held here earlier this…

New York Becomes First State to Join Fair Housing Lawsuit Against HUD

May 2018

ALBANY—New York Gov. Andrew Cuomo announced on Monday that New York will be joining a lawsuit against the federal government’s alleged failure to enforce the Fair Housing Act. The lawsuit seeks to force the U.S. Department of Housing and Urban Development to enforce a rule requiring local and state governments to address segregated housing patterns…

Metro Home Price Growth Quickens to 5.7%

May 2018

WASHINGTON—Inventory levels hovering at all-time lows weighed down home sales and fueled faster price appreciation during the first three months of the year, according to the latest quarterly report by the National Association of Realtors released on May 14. The national median existing single-family home price in the first quarter was $245,500, which was up…