HYDE PARK—Bellefield Development Partners, an affiliate of T-Rex Capital Group LLC, and its partner The Shaner Hotel Group, reported on Jan. 16 that the project received a resolution from the Hyde Park Planning Board to grant conditional site plan approval for a 133-room soft branded Residence Inn at the development property. The Inn at Bellefield…
Read MoreMOHEGAN LAKE—Ginsburg Development Companies has paid $54 million for The Landing on Mohegan Lake, a lakefront multifamily rental community featuring 207 one- and two–bedroom apartments here. GDC acquired the property from New Chalet Apartments, Inc., a private equity group based in Dallas, TX. Jeffrey R. Dunne, of CBRE’s Stamford, CT office, was the broker in…
Read MoreCHICAGO—The National Association of Realtors has announced a new internal organizational structure and changes to its senior management team to more effectively and efficiently serve its 1.3 million Realtor members. "This reorganization reflects the promise I made when I was named CEO last August to create better efficiencies in engaging with and serving the association's…
Read MoreGet the Picture: If you know Robert Shandley, you know he rarely travels anywhere without a camera in his hands. Shandley, a new HGAR Director for 2018, can be seen at almost every HGAR event, snapping photos of smiling faces throughout the Hudson Valley. From the Women’s Council of Realtors breakfasts, to RPAC happy hours…
Read MoreWHITE PLAINS—2017 proved to be another positive year for residential sales in the Hudson Valley following the remarkably strong sales of 2016. Participants in the Hudson Gateway Multiple Listing Service Inc., a subsidiary of the Hudson Gateway Association of Realtors, Inc., reported total residential sales of 18,854, which was a 4% increase in sales over…
Read MoreWASHINGTON—Two members of the New York State delegation in Congress have introduced bipartisan legislation to restore the state and local tax deduction that was capped at $10,000 as part of the federal tax reform plan passed late last month. U.S. Reps. Nita Lowey (D-NY-17/Rockland-Westchester) and Peter King (R-NY-2/Nassau-Suffolk) introduced the “SALT Deductibility Act” on Jan.…
Read MoreEditor’s Note: The National Association of Realtors recently posted on its website an extensive analysis of the recently passed federal Tax Reform and Jobs Act. The following are extensive excerpts of that analysis. WASHINGTON—The National Association of Realtors worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate…
Read MoreST. LOUIS, MI—New York State ranked third behind Illinois and New Jersey in out migration, according to a study released recently by moving company United Van Lines. The United Van Lines' National Movers Study stated that more Americans are moving westward, while the Northeast and Midwest continued to lose residents. In 2017, more residents moved…
Read MoreNEW YORK CITY—New construction starts in the Bronx are expected to surpass the $2-billion plateau in 2017, according to a report released today by the New York Building Congress. While several new large public works projects came on line this year, the residential housing sector in the borough accounted for more than 50% of the…
Read MoreWASHINGTON—Recently released reports on existing home sales and pending sales in November released by the National Association of Realtors showed strong sales activity. However, NAR predicts conditions will weaken somewhat in the new year. The National Association of Realtors reported on Dec. 27 that pending home sales were mostly unmoved in November, but did squeak…
Read MoreALBANY—New York State Gov. Andrew Cuomo citing the legislation’s potential costs, reached an agreement on Dec. 18 with the State Legislature to have three state agencies study the fiscal impacts of establishing the New York State First-Time Homebuyer Savings Program. The governor signed the New York First Time Homebuyer Savings Program (NY First Home) bill…
Read MoreWASHINGTON—It is no longer just millennials fueling interest and investment in walkable communities. According to a new report from the National Association of Realtors, members of the silent or greatest generation (those born before 1944) also prefer smaller homes in neighborhoods with easy walks to shops and restaurants. The 2017 National Community and Transportation Preference…
Read MoreWASHINGTON—As expected, in a procedural vote the House of Representatives approved the Tax Cut and Jobs Act on Wednesday. The controversial measure passed 224-201, with no support from Democratic Congressional representatives. A total of 12 House GOP members voted against the bill. The Senate passed the bill earlier in the morning by a 51-48 margin.…
Read MorePredicting the real estate market is about as easy as timing the stock market, due to the complex interplay of forces that create the market. Four basic numbers tend to drive real estate—home sales, home prices, months supply of inventory and mortgage rates. The economy, encompassing inflation and unemployment, as well as policy decisions on…
Read MoreWHITE PLAINS—With House and Senate Republicans putting the final touches on federal tax reform legislation, Realtors both here and across the nation are preparing for the bill’s passage, possibly before Christmas, and what impacts it could bring to the housing market in 2018. Prominent local Realtors offered mixed opinions on what impacts tax reform will…
Read MoreWHITE PLAINS—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors, has donated a record $85,850 to 24 charities and non-profit organizations throughout the Hudson Valley in 2017. As it enters its fifth year of fundraising, the Foundation is gearing up for another successful year of providing financial assistance to…
Read MoreBarry Kramer, one of the two principal brokers of Westchester Choice Realty Inc. in Scarsdale, has the distinction of being both the HGAR 2017 Realtor of the Year and the 2018 HGAR President. “I didn’t’ think I could be a Realtor of the Year and president at the same time, so I was really surprised,”…
Read MoreWHITE PLAINS—In addition to Rockland County Executive Ed Day who recently told Real Estate In-Depth that New York State taxpayers were getting “sandbagged” by the federal tax reform plan, other key state and local leaders also blasted various components of the GOP House and Senate tax reform plans that at press time were being debated…
Read MoreNEW YORK CITY—The Regional Plan Association in its fourth regional plan says some residents of the New York City metro region are not enjoying the benefits of the robust NYC economy due in large part to the lack of investment in the area’s infrastructure, housing and quality of life. In its 373-page report released on…
Read MoreNEW YORK—Residential brokerage firm Douglas Elliman announced on Dec. 4 it had promoted its chief operating officer, Scott Durkin to president and chief operating officer effective immediately. Durkin, a 30-year real estate veteran and protégée of Barbara Corcoran, joined Douglas Elliman in 2015 as executive vice president of acquisitions and growth. He was promoted to…
Read More