RYE BROOK—The Westchester County commercial market ended the first half of 2023 with mixed results showing continued strength in multifamily developments and solid performance in the industrial/flex market. Meanwhile, demand for retail space weakened modestly and office buildings struggled with lower occupancies due to the work from home environment, according to the recently released Houlihan…
Read MoreALBANY—On Friday, New York Gov. Kathy Hochul announced that President Biden approved her request for a Major Disaster Declaration to provide federal assistance to communities impacted by flooding from heavy rainstorms across much of Upstate New York. The declaration releases critical federal assistance to support recovery and reconstruction efforts in Clinton, Dutchess, Essex, Hamilton, Ontario,…
Read MoreFORT LEE, NJ—New Jersey Gov. Phil Murphy, flanked by federal, state and local leaders, announced on Friday that the state had filed a lawsuit against the U.S. Department of Transportation and the Federal Highway Administration (FHWA) to block what it describes as the “ill-conceived: congestion pricing plan advanced by the Metropolitan Transportation Authority, New York…
Read MoreNYACK—In the first of a series of programs that will focus on the key market areas serviced by the Hudson Gateway Association of Realtors, the association staged a highly-informative and well-attended “Rockland County Day” program on July 17 at the Nyack Seaport here. The event brought together Realtors, local politicians, economic development officials and other…
Read MoreGOSHEN—The Orange County Partnership reported earlier today that Tesla, the renowned electric car manufacturer, has selected Orange County as the home for its new regional distribution facility for vehicle parts in the Town of Newburgh. Orange County Partnership officials stated that Tesla will occupy 927,000 square feet of speculative space built by Matrix Development Group…
Read MoreRENSSELAER, NY—As New York State continues its push for green and renewable energy sources, The New York Independent System Operator (NYISO) on July 14 released its quarterly assessment of reliability of the bulk electric system, which found a deficit in reliability margins for the New York City area beginning in summer 2025. The deficit is…
Read MoreYORKTOWN HEIGHTS—The Guiding Eyes For the Blind has acquired a 12-acre development parcel at 3241 Crompond Road (Route 202) in Yorktown Heights for $4 million. The deal was announced on July 11 by Houlihan Lawrence Commercial, a division of Houlihan Lawrence based in Rye Brook. The seller was Temple Israel of Northern Westchester. The seller…
Read MoreHIGHLAND FALLS—The storm damage from the torrential rains that hit the Hudson Valley on Sunday is considerable. At a press conference on Monday, Orange County Executive Steve Neuhaus said the damage in the Highland Falls/West Point area alone is in the “tens of millions of dollars.” Gov. Kathy Hochul, Neuhaus and other state, county and…
Read MoreWHITE PLAINS—JLL Capital Markets announced on June 27 that it arranged a $17.5-million refinancing for 2 and 4 Westchester Park Drive, two office / medical office buildings totaling 218,372 square feet in White Plains. JLL worked on behalf of the borrower, New York City-based Northpath Investments, to secure the five-year, fixed-rate loan through Centreville Bank.…
Read MorePEARL RIVER—Officials with Hudson Valley iCampus, reported on June 28 it had signed a new lease with Strides Pharma, Inc., consisting of 57,197 square feet of warehouse space for chemical storage. The lease includes the entirety of buildings 170 and 170B on the 207-acre campus in Pearl River. Building 170 is a 28,000-square-foot warehouse building…
Read MoreWHITE PLAINS—Westchester County officials announced on June 22 that five Westchester municipalities—Bedford, Dobbs Ferry, Mount Kisco, Pelham and Port Chester—were the inaugural winners of the county’s Downtown Improvement Grants. Westchester County, along with the downtown experts from JGSC Group, created the unique Downtown Improvement Grant (DIG) Pilot Program to provide select municipalities with economic development…
Read MoreWHITE PLAINS—A new era is dawning at the Hudson Gateway Association of Realtors as the search for a new Chief Executive Officer has come to an end. The Hudson Gateway Association of Realtors announced on June 20 that veteran visionary association executive Lynda Fernandez, CAE, RCE, CIPS has been named HGAR’s new Chief Executive Officer.…
Read MoreNEW WINDSOR—Gov. Kathy Hochul announced significant new state funding for the campus-wide improvement project at Storm King Art Center, a 500-acre outdoor museum in New Windsor that includes a $7.5-million New York State Council of the Arts Large Capital Improvement Grants recipient. The governor, at the groundbreaking ceremony on June 6, reported that in addition…
Read MoreTOWN OF WALLKILL—Officials with the New York State Department of Transportation held a public hearing here on June 1 to update the public on its re-evaluation of planned improvements to Exit 122 on Route 17. They also provided an update on the environmental review of the possible expansion of sections of the roadway with a…
Read MoreYONKERS—Rand Commercial reported on June 7 the lease of the entire second floor at 86 Main St. in Yonkers to Special Citizens Futures Unlimited, Inc. The lease for 11,703 square feet has a 11-year term. The space shall be used as executive and administrative offices serving the firm’s current facilities in the Bronx and in…
Read MoreSLEEPY HOLLOW—Organizers of the second annual Diversity, Equity, & Inclusion Summit were in agreement that this year’s event, held on June 5 and 6 at the Sleepy Hollow Hotel & Conference Center here, featured a wide-ranged offering of programs and discussions geared at providing insights for real estate brokers, agents, as well as association boards…
Read MoreNEW YORK—The New York City metro region received some heartening data from commercial brokerage firm CBRE, which announced on June 7 that the Greater New York market ranked fourth in the nation for life sciences research talent. Nationally, the growth of U.S. life sciences researchers remains resilient in the face of economic concerns, with the…
Read MoreRYE—The Westchester County Association at its 2023 Real Estate Conference on May 10 honored recently retired Norma Drummond, Commissioner of Planning for Westchester County, with its “Legacy Award.” Drummond was the Commissioner of Planning for Westchester County since Jan. 1986 and served the county in that post for more than 37 years. She has extensive…
Read MoreWHITE PLAINS—The Westchester County Office of Economic Development announced on May 8 it had partnered with Sustainable Westchester to launch a Clean Energy Accelerator Program. The program, which includes a Careers Working Group that recently met for the first time, convenes key stakeholders who will work together to identify the workforce needs of the clean…
Read MoreNEW YORK—Simone Development Companies has signed a long-term lease renewal with Mercy College for 125,522 square feet of classroom, administrative and amenities space at 1200 Waters Place in the Bronx, renewing the institution’s commitment to the borough and the Hutchinson Metro Center, which they helped anchor more than 20 years ago. The transaction was announced…
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