Commercial

City of Newburgh Issues Two Request for Proposals To Redevelop a Host of City-Owned Properties

April 27, 2022

NEWBURGH—The City of Newburgh has recently issued two Request for Proposals (RFPs) that represent what it terms are “exciting and unique development opportunities” for several city-owned properties, including City Hall. The first, RFP #11.22, seeks proposals for the creative redevelopment of numerous city-owned properties—both existing buildings and vacant parcels—that the city hopes will result in…

GUEST VIEWPOINT: County Executive’s Corner: Reviving and Rebuilding Rockland

April 27, 2022

Here in county government, we are always working to improve the lives of everyone who calls beautiful Rockland home. This month I am proud to announce two more grant programs that will utilize $7 million in American Rescue Plan Act (ARPA) funds to do just that supporting small businesses and urban green spaces. We know…

New York State Awards Food Bank of Hudson Valley $10.7 Million to Build New Facility in Montgomery

April 26, 2022

ALBANY—New York Gov. Kathy Hochul announced on April 25th a $10.7-million award to Food Bank of the Hudson Valley for the construction of a new 40,000-square-foot food distribution warehouse in the Town of Montgomery. State officials noted that the increased demand for emergency food assistance due to the COVID-19 pandemic necessitated a larger facility with…

Gov. Hochul Earmarks Up to $1 Billion for Route 17 Expansion

April 18, 2022

ALBANY—The most consequential economic development project for the mid-Hudson Valley region in decades is not a major corporate relocation, a large lease deal or a new massive warehouse developed by a national e-commerce giant. Instead, it will be a major infrastructure project that will surely facilitate mega deals like those mentioned above in the coming…

Newmark Selected to Lease and Manage Briarcliff Office Campus

April 15, 2022

BRIARCLIFF MANOR—Newmark reports it has been retained by the new ownership of 555 Pleasantville Road, as the exclusive leasing agent and property manager for the office complex. The property has been recently sold to a joint venture between Saber Real Estate Advisors, Tarrytown Partners and GHC Development. USI Insurance was a major tenant at the…

Advanced Materials Firm Relocating Operations From Tarrytown to Hudson Valley iCampus

April 14, 2022

PEARL RIVER—Momentive Performance Materials Inc. is relocating its operations in Tarrytown to nearly 67,000 square feet of space at the 207-acre Hudson Valley iCampus property here in 2023. Momentive Performance, which is headquartered in Waterford, (Saratoga County) NY will relocate from its current space at 769 Old Saw Mill River Road in Tarrytown in early…

MIPIM 2022 Conference Focused on ‘Driving Urban Change’

April 11, 2022

Editor’s Note: A contingent of Hudson Gateway Association of Realtors members and staff attended the MIPIM 2022 conference in Cannes, France from March 15-March 18. Using the theme of “Driving Urban Change,” MIPIM organizers offered information about making communities more sustainable, livable, affordable and resilient in the wake of COVID-19. Organizers appealed to the real…

Orange County IDA Launches Shovel Ready Development Site Initiative With RFQ Release

April 8, 2022

GOSHEN—The Orange County Industrial Development Agency in an attempt to secure new shovel-ready development sites has launched an initiative aimed at creating the link between infrastructure, zoning, land use and economic development opportunities in a cost-efficient manner. The IDA states that its intent is to maximize the economic benefit of potential projects involving both re-use…

National Resources Secures $230M Refinancing For New Lionsgate Studio Project in Yonkers

April 6, 2022

YONKERS—Greenwich, CT-based development firm National Resources has secured a $230-million refinancing deal for Lionsgate Studios Yonkers, a 500,000 square foot, state-of-the-art film production complex at 28 Wells Ave. in Yonkers. The deal was announced on April 4 by JLL Capital Markets, which worked on behalf of the borrower, National Resources to originate the five-year, fully…

Westchester County IDA Votes to Grant Preliminary, Final Approvals of Incentives for White Plans Multifamily Projects

April 4, 2022

WHITE PLAINS—At its latest session, the Westchester County Industrial Development Agency has voted preliminary and final approvals of financial incentives for the construction of a pair of multifamily residential projects in Downtown White Plains. The two projects—70 Westchester Avenue and 51 South Broadway—represent a total private investment of $171 million and are expected to create…

MJHS Health System Inks Major Lease Deal at 55 Water St.

March 31, 2022

NEW YORK—In what commercial brokers say is the largest new lease transaction in Downtown Manhattan during the past 18 months, MJHS Health System has signed a 138,374-square-foot office lease at 55 Water St. in Downtown Manhattan. CBRE, which arranged the 30-year lease transaction, reports that MJHS will be consolidating most of its Brooklyn offices as…

City of Yonkers Breaks Ground on $76 Million Justice Sonia Sotomayor Community School

March 28, 2022

YONKERS—A host of state and local officials joined Yonkers Mayor Mike Spano, Yonkers Board of Education, Superintendent of Schools Dr. Edwin M. Quezada on Friday for the groundbreaking of the Yonkers Public School District’s new Justice Sonia Sotomayor Community School. To be dedicated to Supreme Court Justice Sotomayor, the new school located at 73 Lawrence…

Five Questions With Hudson Valley Pattern for Progress CEO Adam Bosch

March 24, 2022

Recently, a new leader took the helm of what some in the business community consider the Hudson Valley’s very own think tank—Hudson Valley Pattern for Progress. The Board of Directors at Pattern for Progress appointed Adam Bosch, 39. to be the organization’s next president and chief executive officer, replacing Jonathan Drapkin, who had led the…

Village of Ossining Seeks Interested Developers For Adaptive Reuse of Historic Downtown Building

March 22, 2022

OSSINING—The Village of Ossining announced on March 21 it had issued a request for proposal (RFP) from a qualified developer for the adaptive reuse of a National Register-listed historic building built in 1908, which sits on a village-owned parcel located at 200 Main St., located at the intersection of Main Street and New York State…

Understanding Digital Currency and Closing Deals with Cryptocurrency

March 21, 2022

Amy Chorew, a Connecticut Realtor and President of Curated Learning, first heard about cryptocurrency back in 2017 while having her hair styled. “My hairdresser was talking about buying a condo and cashing out $50,000 in cryptocurrency as part of the down payment. All I could say at that time was ‘what’s that?’” she admitted. Fast…

Hudson Valley Business, Industry Leaders Rally for Rte. 17 Expansion Project Funding

March 17, 2022

TOWN OF WALLKILL—Near a busy overpass for Route 17, state and local government leaders joined business and building trades representatives to press New York State to move forward with necessary environmental studies that will lead to what they say is the long-overdue expansion of Route 17 in Orange and Sullivan counties. The March 10th rally…

IBM Signs 328,000 SF Anchor Lease at One Madison Ave.

March 15, 2022

NEW YORK—SL Green Realty Corp. announced on March 15 it had signed a 16-year, 328,000-square foot lease with International Business Machines Corp. at its One Madison Ave. tower building currently under construction. The lease covers portions of floors two and seven and the entire eighth through 10th floors and a portion of the ground floor…

Westchester Marriott Sold for $40 Million New Owners Plan $30 Million in Upgrades

March 14, 2022

TARRYTOWN—One of the most recognizable hotel properties in Westchester County—the Westchester Marriott—has changed hands in a $40-million transaction. New York City-based Taconic Capital Advisors, HEI Hotels & Resorts of Norwalk, CT partnered to acquire the Westchester Marriott, a 444-key hotel in Tarrytown, from Ares Commercial Real Estate Corp. of New York City for $40 million.…

New York Blood Center Signs Major Lease Deal in Rye

March 10, 2022

RYE—While the transaction comes with few details at the moment, the New York Blood Center has confirmed reports in the Westchester County commercial brokerage sector that it recently signed a lease for 187,181 square feet at 601 Midland Ave. in Rye. The deal, which was finalized in the fourth quarter of 2021, was the largest…

Longtime New Rochelle Official to Retire

March 10, 2022

NEW ROCHELLE—A longtime city official, Charles B. Strome III, who has served as New Rochelle City Manager for the past two decades, will retire at the end of this year, the city announced on March 9. Strome announced his retirement to the City Council at its March 8 meeting and will remain with the city…