WHITE PLAINS—The Westchester County Industrial Development Agency could be establishing in the near future a fund that would provide grants and loans to county businesses hurt by the coronavirus pandemic. Westchester County Director of Operations Joan McDonald reported this morning that the program could total $500,000 in financing. The county would be moving forward on…
Read MoreWHITE PLAINS—Today is the day real estate brokers and agents have been anxiously waiting for since March 22 when Gov. Andrew Cuomo issued the “New York on Pause” order that virtually shut down the real estate industry and all other “non-essential” businesses in the state. Gov. Andrew Cuomo announced this morning (June 9) that the…
Read MoreBy Mike Fratantoni and Joel Kan The extraordinary impact from COVID‐19 social distancing measures and business closings is impacting the economy and job market in unprecedented ways. While April economic data has been uniformly awful, more recent data on purchase applications indicate significant pent up demand for housing. Housing demand is strengthening as more states…
Read MoreWHITE PLAINS—A group of Westchester landlords who own rental properties in Elmsford, Port Chester and Yonkers filed suit on May 25 in U.S. District Court for the Southern District in White Plains against Gov. Andrew Cuomo for his extension of regulations that prohibits landlords from initiating or continuing residential evictions. The suit also contests the…
Read MoreTOWN OF POUGHKEEPSIE—Developers are undertaking substantial demolition and renovation work as they move forward with the Hudson Heritage mixed-use community being developed on 156 acres on Route 9 across from Marist College. The $300-million project will include housing, a hotel and conference center, retail, a supermarket, restaurants, entertainment, and medical and office space. The site…
Read MoreI would like to share my thoughts on the pain, suffering and turmoil that has gripped our region, our state and our nation since the tragic and senseless killing of George Floyd in Minneapolis during the last week. Two and a half months ago COVID-19 began its onslaught in New York, creating what can best…
Read MoreARMONK – The Building and Allied Construction Industries of Westchester, the newest chapter of the New York State Builders Association and the National Association of Home Builders, announced on June 2 that it was officially open for business and accepting new members. The announcement came one week after Westchester County and the Mid-Hudson Region achieved…
Read MoreWHITE PLAINS—Westchester County Executive George Latimer announced on June 1 that he had formed the Westchester County Reopening Task Force, which is charged with finding solutions to advance local businesses interests once the coronavirus crisis ends. The task force is co-chaired by Westchester County Legislator Catherine Parker, a former small business owner and past president…
Read MoreALBANY—On Tuesday, May 26th, segments of the construction and manufacturing sectors of the Mid-Hudson regional economy were allowed to go back to work after being shut down under Gov. Andrew Cuomo’s “New York on Pause” restrictions imposed in March to prevent the spread of the Novel Coronavirus. Gov. Andrew Cuomo first announced on May 22…
Read MoreWHITE PLAINS—Now that the Mid-Hudson region has begun phase one of its reopening process, two major Westchester shopping centers have opened for business for merchandise pick up only. Officials with the Galleria at White Plains outlined their plan on Wednesday, May 27 for merchandise pick-up under phase one of Westchester County’s gradual reopening of businesses.…
Read MoreALBANY—Gov. Andrew Cuomo announced today that pending the required training of contact tracers over the Memorial Day weekend, the Mid-Hudson regional economy will begin phase one of its economy’s reopening on Tuesday, May 26. The governor in his daily COVID-19 briefing on Saturday said the Mid-Hudson region had met the metric in terms of COVID…
Read MoreNEW YORK—Lev Kimyagarov and Rubin Isak, former senior directors at Massey Knakal Realty Services/Cushman & Wakefield and Eastern Consolidated respectively, have Development Site Advisors, the only firm in New York City with a sole focus on the development site sector. “During our many years of working in the commercial real estate industry, we came to…
Read MoreELMSFORD—Earlier this month, the Greenburgh Town Board unanimously approved a site plan application to demolish the shuttered multiplex cinema at 320 Saw Mill River Road in Elmsford (across from Sam's Club) and to replace the building with a 75,711-square-foot Shoprite grocery store. The project, which was approved with a host of conditions, also includes an…
Read MoreYORKTOWN—The Yorktown Planning Board has approved a distribution center for Nestle Waters. The Planning Board’s approval earlier this month will allow Nestle Waters to bring an estimated 60 jobs to Yorktown, as well as end a longtime vacancy at the former Verizon building at 3775 Crompond Road. Nestle Waters has proposed renovating the 1.9-acre property’s…
Read MoreWHITE PLAINS—It appears the reopening of the Mid-Hudson economy, which was all but shut down back on March 22 when Gov. Andrew Cuomo put “New York on Pause” to prevent the spread of the Novel Coronavirus, is finally at hand. After a setback earlier this week, Westchester County Executive George Latimer and Orange County Executive…
Read MoreWASHINGTON— 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…
Read MoreGOSHEN—Orange County Executive Steven Neuhaus revealed in his daily COVID-19 Update on Saturday that the governor’s office notified counties in the Mid-Hudson region that the region had not met one of the key metrics for reopening and that the state is “restarting the clock,” which could mean a delay in the region’s economy’s opening by…
Read MoreSite 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…
Read MoreLOS ANGELES—Most companies included in an analysis by commercial brokerage firm CBRE plan to take a gradual, cautious approach to bringing employees back to their workplaces as governments begin to lift restrictions tied to COVID-19. Roughly half of the 203 company operations that CBRE studied across the globe are implementing touchless technology to enhance cleanliness.…
Read MoreBy 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…
Read More