PURCHASE—The 120,000-square-foot 2975 Westchester Ave. office building has been sold to a Greenwich, CT-based investment firm controlled by the Schur family. The transaction was reported by GHP Office Realty. GHP Vice President Jamie Schwartz represented the seller in the transaction. The Westchester County Business Journal reported the seller as an affiliate of RPW Group of…
Read MoreNEWBURGH—The City of Newburgh filed suit on Aug. 6 in the United States District Court for the Southern District of New York seeking to halt on-going contamination of the city’s water supply by cancer causing per- and polyfluoralkyl substances (PFAS) originating at Stewart Air National Guard Base and Stewart International Airport, now operating as New…
Read MoreNEW ROCHELLE—Iona College celebrated the official groundbreaking of its new business school building on July 27 with a ceremony that included alumnus and Board of Trustees member Robert V. LaPenta '67, '00H, officials from Iona College and the City of New Rochelle, and members of the local community. Remarks were delivered by LaPenta, Iona School…
Read MoreNEW YORK—Among a total of 123 Toys ‘R’ Us and Babies ‘R’ Us owned and leased stores slated for auction later this month are three store locations in the Hudson Valley. The shuttered locations on the block are in Nanuet, Poughkeepsie and Yonkers. The only other New York State location available at the auction is…
Read MoreRYE BROOK—The mystery of who the new owner of the Reckson Executive Park here has been solved—it is New York City-based George Comfort & Sons, Inc. The suspense over the new ownership began last April when then owner SL Green Realty announced it had entered into a contract to sell the six-building, 563,596-square-foot office complex.…
Read MoreWHITE PLAINS—While some city and business officials were surprised by Walmart’s decision to shutter its 180,000-square-foot Downtown White Plains location on Aug. 10, a veteran retail broker has seen it coming for some time. Martin Deitch, executive vice president with retail brokerage firm Aries, Deitch & Endelson of Hartsdale, NY, tells Real Estate In-Depth that…
Read MoreRYE BROOK—The continued growth of the health care sector continues in Westchester County. A host of local dignitaries, including Westchester County Executive George Latimer, were on hand on Monday for the ribbon cutting of the new Northeast Medical Group Multispecialty Center here. The ribbon cutting event for the new remodeled 15,000-square-foot outpatient facility at 90…
Read MoreRYE BROOK—Houlihan Lawrence’s Commercial Group recently announced the sale of a 3,100- square-foot, one-story building at 145 Library Lane in Mamaroneck. The sale price was $800,000. Bryan Lanza and Garry Klein represented both the buyer and seller in the transaction. The purchaser was Garson Properties of Mamaroneck which has approval to build an apartment complex…
Read MoreYONKERS—The 85,000-square-foot mixed-use Boyce Thompson Center reported recently the signing of 12,724 square feet in new leases to three healthcare tenants bringing the center to more than 90% percent leased. ENT & Allergy Associates signed a lease for 8,043 square feet for its newest office location. ENT and Allergy has more than 200 physicians practicing…
Read MoreWASHINGTON—Nearly one-fifth of Realtors practicing in commercial real estate closed a sale with an international client in 2017, and 35% said they have experienced an increase in the number of international clients in the past five years, according to a report released recently by the National Association of Realtors. NAR’s 2018 Commercial Real Estate International…
Read MoreBARRYTOWN, NY—Marcus & Millichap reported recently it had been selected to exclusively represent the Unification Theological Seminary in the sale of its 260-acre campus, located at 30 Seminary Drive in the hamlet of Barrytown, Town of Red Hook in Dutchess County. Used as a religious seminary for more than 80 years, this parcel includes a…
Read MoreALBANY— New York Gov. Andrew M. Cuomo announced on June 29th what he termed as the beginning of a new era for Stewart International Airport in New Windsor with its official name change to “New York Stewart International Airport.” The governor said the formal adoption of its new name builds on the airport's significant growth…
Read MoreCARMEL, NY—The Alexandrion Group, is looking to spend perhaps in excess of $50 million to establish its first US distillery in Putnam County. The company, which announced last July its intent to expand to the US, says it will spend more than $40 million in the construction and renovation of its new 120,000-square-foot distillery and…
Read MoreALBANY—A report touting the burgeoning craft brewing industry in New York State clearly shows that the Mid-Hudson region is the top market for this sector. A report released by Gov. Andrew Cuomo on June 14 noted that the Mid-Hudson Valley added the most new craft manufacturers statewide, with 93 new businesses opening in the past…
Read MoreWHITE PLAINS—Three major property sales were reported by area commercial brokerage firms recently that involved multifamily and retail properties in Westchester County and a more than 123-acre site in East Fishkill formerly owned by IBM. Marcus & Millichap recently announced the sale of a three-property, 104-unit multifamily portfolio in White Plains. The portfolio sold for…
Read MoreALBANY—New York State’s Industrial Development Agencies reported $715 million in net tax exemptions in 2016, up almost 3% from 2015, according to a report issued on June 1st by New York State Comptroller Thomas P. DiNapoli. The report also showed that downstate regions accounted for 57% of the total net jobs gained through IDA projects…
Read MoreGOSHEN—Orange County Executive Steven Neuhaus announced recently that he had named two top staffers at the Orange County Partnership as the directors of economic development and tourism. On May 24, Neuhaus announced that Bill Fioravanti was named to the newly created position as the county’s Director of Economic Development. The same day he reported that…
Read MoreGOSHEN—Hudson Valley Economic Development Corporation Board Chairman Robert J. Levine announced on May 31 that Mike Oates was named the organization’s new president and CEO, effective June 4. Oates replaced Laurence P. Gottlieb, who recently resigned from the position after serving as head of the economic development agency since 2013. Oates has been the managing…
Read MoreHARRISON—It’s rare indeed that the effects of Cannabis get much attention at a business event, perhaps with the exception of programs geared to either the medical or in some states law enforcement communities. But, times are definitely changing. On May 30, the Business Council of Westchester and Fordham University’s Real Estate Institute staged a roundtable…
Read MorePEARL RIVER—Industrial Realty Group announced recently its 1.993 million-square-foot campus of existing office, laboratory, and industrial space in Pearl River, will be known as “New York Center for Innovation.” “The campus is a unique part of the community in Pearl River and we are committed to its next chapter,” said John A. Mase, CEO at…
Read More