Commercial

CoStar Group Agrees to Acquire Ten-X Commercial for $190M

May 19, 2020

WASHINGTON— CoStar Group, Inc., a leading provider of commercial real estate information, analytics and online marketplaces, announced today that it plans to acquire Ten-X for $190 million in cash. Ten-X was launched in 2009 with the goal of providing a digital transaction platform for effectively liquidating the large volume of distressed commercial real estate assets…

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Two of the Largest Commercial Projects in Orange County History Begin Construction

May 15, 2020

Site work has commenced on two of the largest warehouse-distribution facilities ever to be built in Orange County. The two build-to-suit developments in Montgomery for Amazon and Medline, involve nearly 2.3 million square feet of new construction totaling nearly $200 million in investment. Developer Bluewater Partners has commenced construction on the 1,015,740-square-foot distribution center for…

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Working Together to Rebuild Our Workforce, Our Region

May 14, 2020

By Maureen Halahan and Marc Baez During these uncertain times, the people of New York State have benefitted from Gov. Cuomo’s leadership and that of our federal, state and local officials while, once again, showing remarkable resilience. So, much has happened so quickly, and we applaud our elected representatives for taking decisive action to ensure…

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Longtime Rockland County Clerk Piperato Dies

May 6, 2020

THIELLS—Rockland County government has confirmed that longtime Rockland County Clerk Paul Piperato passed away on May 6 at the age of 61. At press time the cause of death was not known. Rockland County Executive Ed Day released the following statement on Piperato’s passing: “Today Rockland County mourns. The loss of County Clerk Paul Piperato…

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BCW’s Economic Recovery Task Force Looks To Create Action Plan to Help Re-open Economy

May 6, 2020

RYE BROOK—As New York State prepares to begin reopening its economy in the wake of the COVID-19 pandemic, the newly formed Business Council of Westchester’s Economic Recovery Task Force is forging ahead with developing a comprehensive plan to provide specific recovery measures and recommendations keyed to assisting Westchester’s diverse business and not-for-profit sectors. The Task…

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Buy, Sell or Hold?

May 6, 2020

During these turbulent times, many lenders are suspending activity or taking very conservative views on ongoing business. Investors are in a panic, not knowing what will be their best path forward. Having navigated previous financial crises from the Savings and Loan scandal to 9/11 to the Great Recession and with more than 30 years of…

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Orange Bank & Trust Provides More Than $100M in PPP Loans

May 6, 2020

MIDDLETOWN—Orange Bank & Trust Company reported on May 5 the successful processing of more than 700 small business loan applications for local business customers, totaling more than $100 million. The applications were funded under the federal Paycheck Protection Program (PPP), which was established in late March to help small businesses remain afloat and retain employees…

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Rep. Maloney Tells HGAR a ‘Big Fight’ is Coming on State and Local COVID-19 Aid

May 4, 2020

WHITE PLAINS—U.S. Rep. Sean Patrick Maloney (D-NY-18) in a more than 50-minute online session hosted by the Hudson Gateway Association of Realtors recently offered his views on the COVID-19 crisis’ impacts on the real estate industry and how the federal government going forward will be assisting businesses in New York State affected by the pandemic.…

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Rand Executives Say COVID-19 Will Not Cause a Crash of the Real Estate Markets

May 1, 2020

Executives with Better Homes and Gardens Rand Realty and affiliate Rand Commercial say that business is continuing during the health crisis caused by the Novel Coronavirus and that the social and economic impacts, while severe, will not cause a crash in the residential or commercial real estate markets in the Hudson Valley. Rand executives appeared…

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Indian Point 2 to Shut Down on Thursday

April 29, 2020

BUCHANAN—A day that many business leaders have dreaded and environmentalists have hailed will come to pass tomorrow morning (April 30). The Indian Point Unit 2 reactor will be shut down by control room operators at the nuclear power plant complex here by Entergy Corp. The Indian Point 2 reactor has been in operation for more…

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Recovery from COVID-19 Downturn in NY Will Take Longer than ‘Great Recession’

April 27, 2020

ALBANY—The New York State Division of the Budget released a report on Saturday that estimates a $13.3-billion shortfall, or 14%, in revenue from the Fiscal Year 2021 Executive Budget Forecast released in January. The report estimates a $61-billion state revenue decline through Fiscal Year 2024 as a direct consequence of the COVID-19 pandemic. The 463-page…

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Gov. Cuomo Could Begin Restart of Economy After May 15

April 27, 2020

ALBANY, NY—It appears New York State could allow the reopening of some business operations in the construction and manufacturing sectors in the upstate region beginning as early as after May 15. New York Gov. Andrew Cuomo in his daily COVID-19 update on Sunday April 26 announced the state may begin a phased restart of the…

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COVID-19 Update 4/21/2020: Gov. Cuomo Says NY Biz Reopening to Be Done by Region

April 21, 2020

BUFFALO—New York Gov. Andrew Cuomo in this morning’s COVID-19 update briefing here said that the reopening of the state’s economy will be performed by region. He announced that Lt. Gov. Kathleen Hochul will be in charge of studying the Western New York region, including determining how and when the economy will reopen there, while former…

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COVID-19 Update for Monday, April 20, 2020

April 20, 2020

Governors Make Appointments to Council Charged with Restoring Northeast Economy NEW YORK—Perhaps the beginning of the end or at the very least the end of the beginning of the COVID-19 pandemic and the restoration of the regional economy are at hand. On Sunday, New York Gov. Andrew M. Cuomo, New Jersey Gov. Phil Murphy, Connecticut…

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Breaking News: Governor Extends Coronavirus Restrictions Until May 15

April 16, 2020

ALBANY—While President Donald Trump is pondering whether to restarting some segments of the economy in some areas by May 1, New York Gov. Andrew Cuomo announced today that he will extend the state’s “On Pause” restrictions until May 15. The governor said the extension of the restrictions that include the closure of non-essential businesses, schools,…

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Planned Parenthood Hudson Peconic to Relocate to Lockwood Medical Campus

April 16, 2020

NEW ROCHELLE—Planned Parenthood Hudson Peconic Inc. has signed a lease to occupy the entire ground level of the Lockwood Medical Campus here. Rand Commercial, the exclusive leasing agent for the 100,000-square-foot Lockwood Medical Campus at 150 Lockwood Ave., reported that Planned Parenthood Hudson Peconic has signed a long-term lease for more than 5,600 square feet…

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