YONKERS—A $177.3-million waterfront project being developed by New York City-based Rose Associates on Alexander Street here has secured incentives from the Yonkers Industrial Development Agency. The project at 57 Alexander St. that will convert an industrial building into a multifamily complex secured the incentives at the Oct. 2 meeting of the Board of Directors of…
Read MoreNEW ROCHELLE—Developer Megalith Capital Management joined New Rochelle Mayor Noam Bramson, City Manager Charles B. Strome III, Commissioner of Development Luiz Aragon and other city officials for a ribbon-cutting ceremony on Oct. 4 to mark the grand opening of the firm’s The Printhouse project. The six-story, 71-unit luxury mixed-use Printhouse development is located at 165…
Read MoreNEW YORK—Westchester County Executive George Latimer and Bronx Borough President Ruben Diaz Jr. hosted the inaugural meeting of the Penn Station Access Bronx & Westchester Community Council at Mercy College’s Bronx Campus on Sept. 27th next to the planned site of a future new Metro-North Railroad Station. Janno Lieber, Chief Development Officer and President at…
Read MoreELMSFORD—The Robert Martin Company LLC, which boasts a suburban office, flex and retail portfolio of more than 6 million square feet, announced on Oct. 2 it is expanding its operations to service the life sciences/health tech industry. Leading the effort will be Laurence Gottlieb, who was named managing director, Life Sciences and Health Technologies. Gottlieb…
Read MoreGOSHEN—While construction continues in earnest at the property and on a new adjacent exit on Route 17 here, LEGOLAND New York announced on Oct. 2 that it will stage its grand opening celebration on July 4, 2020. “The Fourth of July means family,” said LEGOLAND New York Public Relations Manager Matt Besterman, “and at LEGOLAND…
Read MorePOUGHKEEPSIE—The Hudson Valley Economic Development Corp. has announced that Tom LaPerch, commercial director with Houlihan Lawrence Real Estate of Rye Brook, has joined its Advisory Board. LaPerch, a 30-year real estate professional with additional expertise in marketing and government land planning, serves as commercial director for Houlihan Lawrence out of the company’s Rye Brook office.…
Read MoreMOUNT KISCO—The HomeGoods retail property at 3 East Main St. here has been sold in a 1031 exchange transaction valued at $6.8 million. The deal for the 24,834-square-foot building on 1.24 acres was reported by tech brokerage and trading platform firm B+E of New York City. The property was sold by The Kempner Corp. of…
Read MoreWHITE PLAINS—After negotiations ended in June on a proposed merger with the Hudson Valley Economic Development Corp., the Westchester County Association has announced the official launch of a search for a new president and CEO to replace longtime leader William M. Mooney Jr. Mooney will retire as of as of Dec. 31, 2019. The WCA…
Read MoreGOSHEN—The Orange County economy is rapidly evolving into a diverse set of growing industries that are yielding significant investment and new jobs to the area. A recent briefing by the Orange County Partnership to key business leaders and stakeholders at the Newburgh Brewing Co. in Newburgh showcased the various new projects on the boards and…
Read MoreMIDDLETOWN—The Orange County Partnership recently presented one of the most informative and frank discussions on the commercial real estate market in memory. Part of the Orange County Partnership’s 2019 Commercial Real Estate Summit held at the Orange County Fair Speedway in Middletown on June 19, the panel, moderated by Joe Deegan, managing director, SVN Deegan-Collins…
Read MoreRYE BROOK—The mayors of New Rochelle, White Plains and Yonkers recently told an audience of real estate professionals that the natural gas moratorium imposed by utility Con Edison earlier this year is not putting a dent in investor interest or development activity in their respective Westchester County cities. New Rochelle Mayor Noam Bramson, White Plains…
Read MoreYONKERS—In what city officials say is a “game changer” for Yonkers, Lionsgate, in partnership with Great Point Capital Management, announced plans on Sept. 5 to build a $100-million film and television studio here. Great Point Capital Management, a media-focused investment fund run by Robert Halmi and Fehmi Zeko, announced it had signed a letter of…
Read MorePURCHASE—Atlas Air Worldwide Holdings is staying in Westchester County and is in fact renewing and extending its headquarters lease long-term at 2000 Westchester Ave. here and investing nearly $38 million on office space upgrades and equipment. The company and New York State officials jointly announced that Atlas Air had signed a long-term lease renewal for…
Read MoreRYE—Acadia Realty Trust, which is based in Rye, announced on Sept. 6 that subsequent to the second quarter of 2019, the company completed approximately $166 million of transactions. Year to date, Acadia Realty has completed approximately $403 million of transactions—$329 million of fund acquisitions and $74 million of core transactions—with another $47 million under contract.…
Read MoreNEW YORK—While visionary commercial and residential developer Robert Weinberg passed away at his home in Manhattan at the age of 90 on Sept. 3, his legacy in Westchester County and the surrounding suburbs will live on for generations to come. Weinberg will be best remembered for co-founding Robert Martin Company of Elmsford with partner Martin…
Read MoreSAN FRANCISCO—Le Tote Inc. a women’s fashion rental subscription service based in San Francisco, has reached an agreement with Hudson’s Bay Co. of Toronto to acquire iconic retailer Lord & Taylor. Lord & Taylor has a significant presence in the New York metro area, including stores in Eastchester, Yonkers and West Nyack in the Hudson…
Read MoreNEW YORK—Kathy Zamechansky, president of KZA Realty Group, Inc., reported the firm recently brokered a deal to sell an 11-story commercial building at 2021 Grand Concourse for $7.25 million. Built in 1927, the property includes 59,292 square feet of commercial space and a pharmacy on the ground floor. Zamechansky represented the seller, Bronx-based Gara Realty…
Read MoreNEWARK, NJ—Officials pushing for a new multi-billion-dollar Gateway Hudson River Tunnel announced recently they have trimmed $1.4 billion off the cost of the project in the hopes of securing necessary federal funding for the venture. Richard Cotton, executive director of the Port Authority of New York & New Jersey, the project sponsor, sent a letter…
Read MoreNEW YORK—A report released this week by the Citizens Budget Commission calls for the city to better manage city government leased space costs, which rose to $1.1 billion in 2018. Given the rising costs, the Department of Citywide Administrative Services, which manages the city’s real estate portfolio, should accelerate efforts to improve its management, monitoring…
Read MoreWASHINGTON—Most metro areas saw price gains under marginal inventory growth in the second quarter of 2019, according to the latest quarterly report by the National Association of Realtors released earlier this month. Single-family median home prices increased year-over-year in 91% of measured markets in the second quarter, with 162 of 178 metropolitan statistical areas showing…
Read More