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 MoreWHITE 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 MoreALBANY—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 MoreNANUET—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 MoreDorothy 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 MoreNEW YORK—A panel of veteran real estate investors, financiers and brokers took a deep dive at the Global Real Estate Summit NYC 2019 on the health of the New York City metro markets and who will be the sources of needed capital for new development projects. The panel, moderated by Eric Zollinger, president-elect of the…
Read MoreNEW 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 MoreWHITE 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 MoreWHITE PLAINS—The White Plains Housing Authority and co-developer Trinity Financial were joined by a host of dignitaries on Nov. 15 to officially break ground on the second phase of the revitalization and redevelopment of the existing Winbrook Houses public housing campus. The Overture at Brookfield Commons will consist of the construction of a nine story,…
Read MoreNEW 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 MoreNEW 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 MoreBETHEL, 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 MoreNEW YORK—The Community Preservation Corporation, a leading nonprofit multifamily finance company headquartered in New York City, announced on Nov. 6 it has more than $700 million in capital available to lend and invest in affordable and workforce housing in New York State and the Northeast United States. CPC officials say the firm intends to work…
Read MoreWASHINGTON—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 MorePEEKSKKILL—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 MoreALBANY—The fortunes of Wall Street have a lot to say in how the residential markets, particularly luxury housing, in the greater New York metropolitan area perform. Based on the results of the financial services sector in the first half of this year, the luxury markets should be enjoying a boost. However, the second half of…
Read MoreFISHKILL, 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 MoreSLEEPY HOLLOW—The developers of the Edge on Hudson mixed-use project being built at the former General Motors assembly plant here has reached an agreement with Houston-based Hines, which will build nearly 250 luxury apartments at the site. The new Hines development, part of phase two of the multi-phased development, will be located at the entrance…
Read MoreNEW YORK—The Hudson Gateway Association of Realtors will co-host the “Global Real Estate Summit NYC” on Monday, Nov. 4, bringing together real estate's most influential thought leaders on how to succeed in the global marketplace. The event, now in its 13th year, will focus on "Engaging the Global Future." HGAR will present the summit in…
Read MoreWASHINGTON—Existing home sales receded in September following two consecutive months of increases, according to the National Association of Realtors. In its monthly report released on Oct. 22, NAR reported that all four major regions witnessed sales drop off last month, with the Midwest absorbing the brunt of those declines. Overall sales in the Northeast fell…
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