ELMSFORD—Robert Martin Company’s expansion into serving the needs of the life sciences/health tech industry with the formation of RMC Bio1 is beginning to pay off. The firm announced that New York City-based Clarapath will be shifting its corporate headquarters from New York City to a building it owns in Hawthorne. Clarapath, a developer of an…
Read MoreWHITE PLAINS Real estate’s most influential thought leaders came together virtually on November 5-6 to share thoughts on succeeding in the global marketplace and the future of our cities and residential real estate opportunities as part of the 14th Annual Global Real Estate Summit 2020. The two day-long event focused on “A Global Voyage into…
Read MoreMAHOPAC—The Putnam County Business Council and the Putnam Valley Business Network announced today the merger of the two organizations. As a committee under the PCBC, the PVBN will lead the Business Council’s new Putnam County Traveling Business Network. “As an extension of our rebranding efforts over the past year, we are focused on expanding the…
Read MoreNANUET—Rockland County Executive Ed Day and Director of Economic Development and Tourism Jeremy Schulman announced recently that RTL Nanuet, owners of the former Macy’s store located next to the Shops at Nanuet, has been approved to operate as Rockland’s 5th NYS Qualified Film Production Facility under the regulations governed by the Empire State Film Production…
Read MoreWHITE PLAINS—The Westchester County Office of Economic Development announced on Nov. 10 it had awarded a total of $10 million to 262 county-based small businesses and nonprofits facing challenges as a result of the COVID-19 crisis. Recipients include businesses in industries such as restaurants/food service; arts, entertainment and recreation; social services; education and more. The…
Read MoreWHITE PLAINS—With a backdrop of rising coronavirus cases in Westchester County and New York State, Westchester County Executive George Latimer has proposed a tax cut in his 2021 Operating Budget plan. The County Executive has proposed a $1-million tax cut for the second year in a row. The budget, thanks to $168 million in COVID-19…
Read MoreTOWN OF WALLKILL—Panelists and participants in the Orange County Partnership’s recently held Commercial Market Forecast were bullish on investment and development interest and opportunities in Orange County in spite of and in some instances because of the COVID-19 pandemic. The program was held on Oct. 27 at the West Hills Country Club and was attended…
Read MoreGrowing your international residential real estate business in today’s “new normal” times requires listening, learning, pivoting and adapting. That advice, courtesy of Kevin Brown, senior global real estate advisor and associate broker with Sotheby’s International Realty in Manhattan, was presented on Nov. 5 during the 2020 Global Real Estate Summit, held virtually this year. Brown…
Read MoreYONKERS—Yonkers Mayor Mike Spano announced on Nov. 5 he recently sworn in Commissioner Louis J. Albano and Deputy Commissioner Lee J. Ellman to head the city’s Department of Planning & Development. The Yonkers City Council confirmed the mayor’s appointments at its Council meeting last week. “Collectively, Lou and Lee bring over 70 years of experience…
Read MoreNEW YORK—SL Green Realty Corp. reported on Nov. 4 that together with its partners, it had entered into a contract to sell 410 Tenth Ave for $952.5 million to an undisclosed buyer. The 636,000-square-foot Manhattan office redevelopment property is anchored by Amazon and First Republic Bank. SL Green currently owns 70.9% of the venture. As…
Read MoreELMSFORD—Since the pandemic began in March and restrictions were imposed to prevent the spread of the virus, all too frequently news reports have detailed the unfortunate closure of a popular business somewhere in the Hudson Valley. Recently, news came that COVID-19 took another business victim—the storied Westchester Broadway Theatre in Elmsford which had been a…
Read MoreRYE BROOK—Despite impacts of COVID-19, office leasing activity in Westchester County improved in the third quarter as New York City companies look to relocate or establish new offices in the county, according to the Houlihan Lawrence Third Quarter Commercial Market Report for Westchester County. Meanwhile, the report showed demand remains strong for industrial space…
Read MoreWHITE PLAINS—After recently launching a business loan program and a housing assistance initiative, the Westchester County Office of Economic Development on Oct. 19 announced a new program for county residents who may want to create home-based income streams, or launch new businesses or nonprofits. The program entitled “Launch 1000” was described as an innovative, fully…
Read MoreIt’s been more than six months since the onslaught of COVID, and many Westchester businesses have closed or are still floundering. But perhaps one of the industries hit hardest by the pandemic has been tourism. After 47 years in operation, the renowned Westchester Hilton in Rye closed its doors in July. With 445 guest rooms,…
Read MoreALBANY—The Metropolitan Transportation Authority is facing the greatest crisis in its long history, with few viable options without federal funding to avoid cuts in service and staff, additional fare hikes and long-lasting damage that could impair regional transit for decades, according to New York State Comptroller Thomas P. DiNapoli’s annual report on the MTA’s finances…
Read MoreYONKERS—In a major retail lease deal in the midst of the COVID-19 pandemic, discount retailer Target has signed a long-term lease for more than 130,000 square feet to occupy a major portion of the former Sears store at the Cross County center here. In addition, shopping center owner Marx Realty also announced that retailer H&M…
Read MoreALBANY—Municipalities in New York State collected nearly $17 billion in sales tax revenue in 2019, representing 9.7% of all local government revenue, according to a comprehensive report on local sales tax released on Oct. 6 by New York State Comptroller DiNapoli. Every county and city in the state, along with many towns and villages, depend…
Read MoreALBANY—New York State Comptroller Thomas P. DiNapoli released his fiscal stress list for 2019 and unfortunately, the Hudson Valley was well represented. On the State Comptroller’s “Significant (Fiscal) Stress” list in the New York metro area were Westchester County, Poughkeepsie in Dutchess County, Suffolk County and Long Beach in Nassau County. Other locations on the…
Read MoreNORWALK, CT—New York City-based Invictus Real Estate Partners has secured acquisition financing totaling $107.25 million for its purchase of The Waypointe multifamily property here. JLL Capital Markets arranged the financing through Freddie Mac and worked on behalf of the borrower. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo…
Read MoreHARRISON—In conjunction with the hiring of veteran commercial office broker Chris O’Callaghan, RM Friedland announced on Sept. 21 it has formed an office brokerage division. O’Callaghan joins Harrison-based RM Friedland after serving as Managing Director for Jones Lang LaSalle since 2013 where he was responsible for the Westchester County market for the commercial brokerage firm.…
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