SLEEPY HOLLOW— Construction on a new 30,000-square-foot DeCicco & Sons market at the Edge-on-Hudson in Sleepy Hollow is set to begin later this year. The Village of Sleepy Hollow Planning Board recently approved plans for the market, which will include a second story glass-enclosed beer and wine café, oriented towards the Hudson River. An adjacent 10,000…
Read MoreYONKERS—A group that now consists of 60 labor, business and community organizations in the New York metro region held a rally on June 2 at the Empire City Casino in Yonkers to press Gov. Andrew Cuomo and state legislators to grant a full casino gaming license to Empire City Casino. Earlier this year in his…
Read MoreWHITE PLAINS—There are few positive things people can point to during the coronavirus pandemic. On June 2, a host of political dignitaries, hospital executives and hundreds of staff celebrated the completion of a $272-million project that serves as a concrete testament to the courage and dedication of White Plains Hospital workers and the construction workers…
Read MoreThe past year has been a very turbulent time for commercial property owners. Many lenders are suspending activity or taking very conservative views on ongoing business leaving some investors in a panic, not knowing what their best path will be forward. While some financial institutions have curtailed loans, revised their parameters, or removed certain lending…
Read MoreBUCHANAN—The nuclear age in Westchester County and the Hudson Valley officially ended late last month with the sale of the Indian Point Energy Center in Buchanan by Entergy Corp. to decommissioning firm Holtec International. On May 28, Entergy announced it had completed the sale of the Indian Point complex to subsidiaries of Camden, NJ-based Holtec…
Read MoreRAMAPO—Locally-based commercial real estate services firm Northeast Capital Group has acquired Woodbridge Corporate Plaza, a six-building Class A office complex in Iselin, NJ for $88 million. The property, which includes 629,189 square feet of office space, was sold by KBS, an Iselin, NJ-based commercial real estate investment firm. Newmark represented KBS in the transaction KBS…
Read MoreNEW YORK—Oak Brook, IL-based CenterPoint Properties has acquired a 145,144-square-foot Class A urban logistics center at 1080 Leggett Ave. in the Bronx for $116.5 million. CenterPoint purchased the fully-leased property from Goldman Sachs Asset Management and Blumenfeld Development Group, Ltd. Brokerage firm JLL represented the seller in the transaction. The deal comes less than 18…
Read MoreWASHINGTON—The Urban Land Institute’s (ULI) latest Real Estate Economic Forecast released today predicts that the real estate sector is poised for a rebound, with the single-family housing sector, hotel and industrial returns forecast to strongly increase over the next three years. The report’s conclusions are based on an April-May survey of 42 economists and analysts…
Read MoreRYE—MSD Partners, L.P., an SEC-registered investment adviser, has signed a lease deal totaling 9,167 square feet at 411 Theodore Fremd Ave. here. The transaction brings the newly renovated, more than 118,000-square-foot office property to 100% occupancy. The CBRE team of Michael McCall and Maria D’Angelo serve as the property’s exclusive leasing agents and represented ownership,…
Read MoreALBANY—In another sign of a reopening economy, Gov. Andrew Cuomo reported on May 13 that the delayed Metro North Penn Station Access project will now be resumed with bids going out shortly on the nearly $1.6-billion initiative. The plan, which was paused last year due to the onset of COVID-19, calls for the construction of…
Read MoreBy William Pattison, Reginald Ross, Michael Steinberg and Austin Iglehart Editor’s Note: The following article is reprinted with permission from MetLife Investment Management. 2020 was the most challenging year on record for hotel owners, far surpassing the lows reached following the 2008 and 1981 recessions. In order to project how and when hotels will recover,…
Read MoreNEW YORK—The COVID-19 pandemic abruptly halted tourism in New York City, one of the world’s top tourist and business traveler destinations, during parts of 2020, resulting in a dramatic falloff in the number of visitors and creating a steep drop in economic activity, according to a report released on April 28 by New York State…
Read More3,367 miles is the distance between New York City and Lisbon, Portugal’s capital and biggest city with a population of a little over 500,000 inhabitants. A seven-hour direct flight connects both cities on opposite sides of the Atlantic and is an “open door” to a new way of living. Once known as “Europe’s Best Kept…
Read MoreALBANY—New York Gov. Andrew M. Cuomo announced on Tuesday the list of projects in Peekskill that the state will fund as part of its $10-million Downtown Revitalization Initiative award granted to the Northern Westchester County city two years ago. The 12 projects in Peekskill will provide funding that will facilitate mixed-used transit-oriented development, improve pedestrian…
Read MorePOUGHKEEPSIE—The Hudson Valley Economic Development Corp. recently announced the addition of Hudson Valley Tourism, Inc. to its Board of Directors, represented by HVT President Amanda Dana. In 2018, Dana assumed the role of Orange County Tourism Director. In 2019 she and her tourism team acquired the Orange County Film office. In 2021, Dana was named…
Read MoreWhen it comes to small inns and bed and breakfast lodging in the lower Hudson Valley, Orange County leads the pack with 27 of them. Some range from just two cozy rooms to a 16-bed inn with suites, dotting the region from Newburgh to Port Jervis. The Village of Warwick boasts six bed and breakfasts,…
Read MoreNEW YORK—HGAR’s Bronx Chapter will be holding its annual Golf & Tennis Outing this year on Monday, June 21 at The Village Club of Sands Point in Sands Point. The all-day event will honor David Diamond, owner of the Diamond Property Group, with the “Outstanding Humanitarian Award.” Diamond is the first recipient of this award,…
Read MoreGOSHEN—On May 10, Garnet Health Doctors, formerly Orange Regional Medical Group and Catskill Regional Medical Group, is expected to open its newest facility in Goshen. This new practice at the redeveloped Goshen Plaza will be Garnet Health Doctors’ ninth location in Orange and Sullivan counties. The new facility, totaling more than 16,000 square feet, is…
Read MoreALBANY—A bill (A07280, S06481) sponsored by State Assemblywoman Amy Paulin (D-Scarsdale) and Senator James Skoufis (D-Newburgh, Garnerville) recently passed the Assembly and Senate that if signed by Gov. Andrew Cuomo will expand access to rental assistance funds for small landlords. The bill will allow property owners whose tenants cannot or will not submit a rental…
Read MoreWHITE PLAINS—The Windward School, which recently relocated to a larger campus on Mamaroneck Avenue, announced plans to sell its former campus. The property is being marketed without an asking price. The 5.35-acre development site is located at 5 and13 Windward Ave.—a residential dead-end street that backs up to Saxon Woods Park. The campus is currently…
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