Residential

Economists Say Recession Unlikely in 2020

December 2019

WASHINGTON—A group of top economists arrived at a consensus 2020 economic and real estate forecast recently at the National Association of Realtors first-ever Real Estate Forecast Summit. The economists who gathered at NAR's Washington, D.C. headquarters expect the U.S. economy to continue expanding next year while projecting real estate prices will rise and reiterating that…

Read More

Saber-PCD, Circle Squared Venture Break Ground On Rental Apartment Project Near Westchester Mall

December 2019

WHITE PLAINS—Development partners Saber Real Estate Advisors LLC, PCD Development LLC, and Circle Squared Alternative Investments broke ground on Dec. 4 on “The Duet,” luxury multi-family residential complex on Hale and Maple avenues in White Plains. The development, across from the Neiman Marcus entrance at The Westchester and adjacent to Whole Foods, will feature 127…

Read More

The Club at Briarcliff Manor Senior Living Community Opens

December 2019

BRIARCLIFF MANOR—The Club at Briarcliff Manor recently welcomed its first residents to the new senior living community that features assisted living and independent living apartments and memory care. Set atop a scenic wooded site with panoramic views of the Hudson River and once home to the iconic Briarcliff Lodge, The Club at Briarcliff Manor features…

Read More

Governor Cuomo Signs Bill Protecting Rent-Regulated Tenants From Landlord Harassment

December 2019

ALBANY—New York Gov. Andrew M. Cuomo signed on Dec. 4 legislation (A.6188/S.2605) protecting rent regulated tenants from landlord harassment by preventing landlords from creating unsafe, disruptive or uninhabitable conditions in order to force tenants out of their homes. The previous law only provided protections to tenants who could demonstrate physical injury and failed to take…

Read More

Harrison Adaptive Reuse Project in Line for Nearly $6.6M in Incentives

November 2019

WHITE PLAINS—A developer that is seeking to redevelop a vacant office building into a 450-unit rental apartment complex secured a preliminary inducement of $6.57 million in mortgage and sales tax exemptions from the Westchester County Industrial Development Agency. The Westchester IDA granted the incentive package to 3 WPD Apartments LLC, an affiliate of Marcus Partners…

Read More

New York, Connecticut and Other States File Appeal of SALT Reform Court Ruling

November 2019

ALBANY—New York Gov. Andrew M. Cuomo and New York Attorney General Letitia James announced that New York, Connecticut, Maryland and New Jersey have filed a notice of appeal to the U.S. Court of Appeals for the Second Circuit to continue litigation against the federal government for what they term as the unlawful and unprecedented cap…

Read More

Mill Creek Residential Acquires The Peaks of Nanuet for $180M

November 2019

NANUET—Mill Creek Residential Trust of Boca Raton, FL and an unnamed partner have acquired the 504-unit The Peaks of Nanuet apartment community here in what is believed to be a record deal in Rockland County. The firm purchased the property from a partnership of New York City-based Harbor Group International and Azure Partners. The deal…

Read More

Global R.E. Summit, NYC 2019, Nov. 4, 2019

November 2019

Dorothy Botsoe, Dorothy Jensen Realty Inc.   Mitch Roschelle, Partner, PwC Dean Foster, Founder DFA Intercultural Global Solutions, LLC, President, Dean Foster Global Cultures Luciane Serifovic, CEO & Founder, Luxian International Realty Global Market Highlights Panel: Federico Ranuzzi de'Bianchi, Principal Broker, Ranuzzi & Giordani Real Estate Agency; Raj Rajpal, Mortgage Consultant, Wells Fargo Home Mortgage;…

Read More

Global Economic Instability Drives Investors to US Real Estate

November 2019

NEW YORK—In an informative, yet concise overview of the recently released ULI “Emerging Trends in Real Estate 2020” report, author Mitch Roschelle, partner with PwC, offered some heartening insights to attendees of the Global Real Estate Summit 2019 Conference and Expo as to why the US real estate market remains a favorite with foreign and…

Read More

Westchester County Launches New ‘Catalyst’ Website

November 2019

WHITE PLAINS—The Westchester County Office of Economic Development launched on Nov. 14 what it termed is a new and dynamic website called "The Catalys" to position Westchester County as the place to live, work and visit. The Catalyst website—Westchestercatalyst.com —is a total departure from the current site and reflects the Office of Economic Development’s new Catalyst…

Read More

RXR Realty Begins Ground-Up Construction Of 28-Story New Rochelle Apartment Tower

November 2019

NEW ROCHELLE—RXR Realty, the master developer for the City of New Rochelle’s downtown district, recently hosted a groundbreaking ceremony for the start of ground-up construction of a new 28-story development at 26 South Division St. here. The Oct. 30th event marked the launch of construction of the first of two projects being undertaken at the…

Read More

HGAR, NYC Metro Realtor Associations Hold Global RE Summit

November 2019

NEW YORK—A number of real estate’s most influential thought leaders came together on Nov. 4 to share strategies for succeeding in the global marketplace as part of the Global Real Estate Summit NYC at the New York Marriott Marquis. The day-long event, now in its 13th year, attracted hundreds of area real estate professionals focused…

Read More

ERA Insite Realty Opens New Office in Connecticut

November 2019

BETHEL, CT—ERA Insite Realty has expanded its brokerage operations to the State of Connecticut. Broker/Owners and founders of ERA Insite Realty Lou and Debra Budetti reported recently the opening of the firm’s fifth office location and the company’s first in Connecticut, located in Bethel in Fairfield County. Drew Slack, a 20-year industry veteran who has…

Read More

HUD, Justice Department Agree to Ease Use of False Claims Act

October 2019

WASHINGTON—U.S. Housing and Urban Development Secretary Ben Carson and U.S. Attorney General William Barr issued a Memorandum of Understanding on Oct. 28 between the two agencies that sets what the two agencies say is “prudential guidance on the appropriate use of the False Claims Act for violations by Federal Housing Administration lenders. “This agreement clearly…

Read More

Peekskill Issues Open Call to Private Investors for DRI Funding

October 2019

PEEKSKKILL—The City of Peekskill, which in August of this year was awarded a $10-million grant through the state’s Downtown Revitalization Initiative to revitalize its downtown district, issued an open call for privately sponsored project proposals to be considered for DRI funding. City officials say the purpose of the open call is to hear from members…

Read More

Major Long Island Developer Entering Hudson Valley Market

October 2019

FISHKILL, NY– Farrell Building Co., widely known for developing luxury single-family homes on Long Island and the Palm Beach, FL area, has entered the Hudson Valley with several new projects. Farrell is developing new luxury rental properties in Newburgh, Middletown and New Windsor, in Orange County, as well as in Fishkill, Beacon, and Wappingers in…

Read More