NANUET—New York Gov. Kathy Hochul announced on Sept. 14 the opening of Vincent's Village, a $42-million affordable and supportive housing development in the village of Nanuet. Supported with $21.9 million in financing from New York State Homes and Community Renewal, the development has 93 affordable homes with on-site health and wellness services for adults age…
Read MoreGREENBURGH—On Sept. 14, Westchester County Executive George Latimer cut the ribbon on the Mayfair Apartments in Greenburgh. The completed project involved the redevelopment of the former WestHELP Greenburgh Homeless Shelter on the Westchester Community College Campus built in the 1980s into 74 units of affordable rental housing for seniors aged 62 and older. The project…
Read MoreWASHINGTON—Sixty percent of non-homeowning millennials say student loan debt is delaying their ability to buy a home, by far the most affected population, according to a new poll released on Sept. 14 by the National Association of Realtors. The findings also show that Americans burdened with high student debt see the impact on their daily…
Read MoreCHICAGO—The National Association of Realtors on Sept. 13 filed a petition to quash a request by the U.S. Department of Justice that NAR states reneges on the terms of a settlement agreement approved by the DOJ in November 2020. The DOJ attempt to withdraw from that fully binding agreement in July 2021, after NAR had…
Read MoreWASHINGTON - The U.S. Department of Housing and Urban Development announced earlier this month it had awarded $47.4 million to fair housing organizations across the country under its Fair Housing Initiatives Program. The grants will support the efforts of 120 national and local fair housing organizations working to address violations of the Fair Housing Act…
Read MoreWASHINGTON—The Fannie Mae Home Purchase Sentiment Index released on Sept. 7 was largely unchanged in August, decreasing 0.1 points to 75.7, as survey respondents tempered both their recent pessimism about homebuying conditions and their upward expectations of home price growth. Overall, three of the index’s six components increased month over month, while the other three…
Read MoreWHITE PLAINS—The Business Council of Westchester’s Economic Recovery Task Force has issued a number of far-reaching recommendations to Westchester County on how to spend approximately $188 million in federal funding from the American Rescue Plan to help foster economic development and continued recovery from the coronavirus. The report issued on Sept. 8 included hundreds of…
Read MoreALBANY—Gov. Kathy Hochul signed into law on Sept. 2 a new moratorium on COVID-related residential and commercial evictions for New York State which will be in effect until Jan. 15, 2022. The moratorium extension is now in the courts as a major landlord association has filed suit against the new law. Under the new law, all…
Read MoreMINNEAPOLIS— HomeServices of America, Inc., a Berkshire Hathaway affiliate, announced today it had acquired Berkshire Hathaway HomeServices Hudson Valley Properties, which is headquartered in LaGrangeville in Dutchess County. The firm has been servicing the Mid-Hudson Valley market for the past 29 consecutive years. Hudson Valley Properties will join the Berkshire Hathaway HomeServices New England Properties…
Read MoreWHITE PLAINS—Due to rising construction costs, The Board of Directors of Westchester County’s Local Development Corporation (LDC) voted on Aug. 24 to approve a developer’s application to amend the LDC’s previous preliminary approval of tax-exempt bond financing for the development of a senior learning community on the SUNY Purchase campus. The LDC Board approved increasing…
Read MoreWHITE PLAINS—The Westchester County Industrial Development Agency this morning in a session that lasted less than 12 minutes, voted to grant incentives totaling $14.7 million to two major projects in Greenburgh and White Plains valued at a combined total of $755 million. The IDA Board unanimously (5-0) approved granting $7.7 million in sales tax incentives…
Read MoreWHITE PLAINS—A nearly five-acre development site on Post Road in White Plains has been acquired by the ever-expanding White Plains Hospital for $38 million. The deal for the former site of the Scholz car dealership at 77 W. Post Road was announced by commercial brokerage firm CBRE. The seller of the property is a partnership…
Read MoreALBANY—In what was the culmination of a tumultuous two weeks in Albany, Gov. Andrew Cuomo officially resigned at midnight this morning and a short time later, Lt. Gov. Kathy Hochul became the first woman governor in the history of New York State. The newly installed governor wasted no time in outlining her highest priorities: combating…
Read MoreWASHINGTON—Existing-home sales rose in July, marking two consecutive months of increases, the National Association of Realtors reported on Aug. 23. Three of the four major U.S. regions recorded modest month-over-month gains, and the fourth remained level. Figures varied from a year-over-year perspective as two regions saw gains, one witnessed a decline and one was unchanged.…
Read MoreYONKERS—The Yonkers Industrial Development Agency has announced that its Board of Directors voted at its August 17th meeting final approval of financial incentives for two new residential development projects—Horizon at Ridge Hill and Hudson Hill. The two projects represent a total private investment of approximately $129 million and are expected to create 183 construction jobs.…
Read MoreWHITE PLAINS—Pacific Western Bank and Square Mile Capital Management have together provided $181.91 million in funding for the redevelopment of the former AT&T building in Downtown White Plains into a multifamily housing development. The project includes the redevelopment of a vacant office building at 440 Hamilton Ave. to become a 13-story Class A multifamily building,…
Read MoreDespite the recent uptick in Delta variant COVID cases in the New York metro area, New York City is essentially open for business. Most Broadway theaters are reopening in September, restaurants and bars are now allowing vaccinated patrons to dine indoors and the residential real estate market is back in full swing. New developments are…
Read MoreNYACK—Christie's International Real Estate Westchester | Hudson Valley recently announced the opening of its new, state of the art sales gallery in Nyack, as part of the company’s ongoing expansion in the southern New York region. The new sales gallery is located in a prime location at 2-4 Franklin St. Christie’s has experienced great success…
Read MoreDuring the COVID-pandemic, Brown Harris Stevens Chief Executive Officer Bess Freedman has participated in several webinars hosted by the Hudson Gateway Association of Realtors and OneKey MLS and offered some frank assessments of market conditions, as well as her views on lockdowns and tax policies and their impacts on the market. In preparing for this…
Read MoreCHESTER—Locally-based Keller Williams Realty: First in New York reported that its new office in Newburgh has launched operations recently, the result of the firm’s prior acquisition of the top-producing “Licensed2Sell Team,” which consists of eight agents led by veteran Realtors Dickie Baxter and Vinny Reda. The firm’s new office is located at 254 Route 17K,…
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