RYE BROOK—The Fordham Real Estate Institute and The Business Council of Westchester are co-sponsoring an event on Friday, April 5 entitled “Behind the Headlines—What Opportunity Zones Really Mean for Westchester Real Estate.” The breakfast panel will be held from 8 a.m. to 10:30 a.m. at 800 Westchester Avenue in Rye Brook. “Opportunity Zones are being…
Read MorePORT CHESTER—M & J Wilkow announced recently that the company, along with MetLife Investment Management on behalf of its clients, acquired the 493,459-square-foot Port Chester Shopping Center. Port Chester Shopping Center is strategically positioned at the intersection of highways I-287 and I-95, the two main highway systems connecting the Western and Northern suburban communities of…
Read MoreWASHINGTON—The evolving technological landscape, competition from non-traditional market participants and housing affordability continue to be among the biggest challenges facing real estate firms in the next two years, according to a report by the National Association of Realtors. NAR's 2019 Profile of Real Estate Firms released on March 6 found that commercial real estate firms…
Read MoreWHITE PLAINS—A real estate attorney speaking before a group of Westchester County commercial brokers said the moratorium on new natural gas connections slated to go into effect on March 15 “is here to stay.” Officials with Con Edison—the utility that is imposing the moratorium—who participated in the discussion did not disagree. More than 100 attendees…
Read MoreALBANY—A coalition consisting of more than 100 business, civic, political and labor industry interests are calling for New York State to spend a total of $500 million to expand the existing Route 17 in Orange and Sullivan counties. Specifically, the organization is calling for a multi-year plan to construct a third lane in each direction…
Read MoreNEW YORK—The Regional Plan Association released a report on Tuesday that put a hefty price tag—$16 billion—if the controversial Gateway Rail Tunnel project fails to secure the necessary financing to move forward. The RPA in its report entitled “A Preventable Crisis: The Economic and Human Costs of a Hudson River Rail Tunnel Shutdown” calculated that…
Read MoreNEW YORK—Governor Andrew Cuomo and New York City Mayor Bill de Blasio, who have historically been at odds on a host of issues, agree on one thing—the Metropolitan Transportation Agency needs to be reformed. On Feb. 26, Cuomo and de Blasio released a 10-point plan to reform the MTA and to create sustained funding streams…
Read MoreNANUET—Nyack College has announced it will postpone the planned relocation of its undergraduate programs from its campus in Rockland County to Lower Manhattan until early 2020. In an announcement to students on the college’s website, Nyack College President Michael G. Scales stated that the college had delayed the planned relocation of its undergraduate program to…
Read MoreBUCHANAN—Until recently, the major energy issue facing Westchester County and the Hudson Valley/New York City region was the impending closure of the nuclear reactors at Indian Point in the next two years. However, that was before Con Edison announced its plan to impose a moratorium on new natural gas connections for most of the county…
Read MoreWHITE PLAINS—A.S.A.P. Mortgage, which is headquartered in Cortland Manor, has embarked on a significant expansion effort of late that has included the opening of new offices in New York City and White Plains and the launch of a new commercial finance division. In addition, the company reports its intent to open additional locations in the…
Read MoreSCARSDALE—New York City-based Helmsley Spear, LLC, reported on Feb. 13 that the firm brokered the sale of the TD Ameritrade building in Scarsdale. Located at 880 Central Park Ave., the TD Ameritrade building is a two-story structure comprising 5,000 square feet with TD Ameritrade Bank as the sole tenant under a 12-year lease. The transaction…
Read MoreWHITE PLAINS—Simone Healthcare Development recently secured a resolution of intent from the Westchester County Industrial Development Agency to provide nearly $1.75 million in incentives for its $61-million plan to redevelop a vacant office building in Harrison into a pediatric care ambulatory facility for Montefiore Medical Center. Simone Healthcare, an affiliate of Simone Development Companies, plans…
Read MoreWHITE PLAINS—Con Edison has officially announced its intention to impose a moratorium on new natural gas connection service for a majority of Westchester County. The gas utility will stop accepting applications for new natural gas service on March 15. Join the HGAR Commercial and Investment Division on Thursday, Feb. 28th for an informative morning discussion…
Read More2018 was a solid year for real estate in the lower Hudson Valley. However, as the year progressed, we did experience slowly declining sales numbers. Whether this had to do with prospective purchasers having concerns about the SALT deduction limits is probably too early to tell, and we should have a better feel when we…
Read MoreNEW YORK—If a post mortem were to be done on the failed Amazon HQ2 deal in Long Island City, Queens, the cause of death for the $4-billion deal that was to bring in excess of 25,000 high-paying jobs to the region would no doubt be from multiple causes. The reactions from the governor of New…
Read MoreWHITE PLAINS—GHP Office Realty, LLC, a division of Houlihan-Parnes Realtors, LLC, announced recently it has successfully completed the installation of 375 kW / 940 kWh of battery energy storage at its headquarters at 4 West Red Oak Lane here. This project represents one of the largest energy storage installations in a commercial building in New…
Read MorePORT CHESTER—Robison Energy, LLC is relocating its corporate headquarters from Elmsford to the Gateway Plaza office building in Port Chester. The long-term lease deal for approximately 11,000 square feet of space at Gateway Plaza (55 South Main St.) in Port Chester was announced by Jamie Schwartz, executive vice president of GHP Office Realty, LLC, an…
Read MoreALBANY—The New York State Public Service Commission has scheduled public hearings in White Plains next week to solicit public comment on the impending moratorium on new natural gas connections by utility Con Edison set to begin on March 15. The PSC will hold meetings at the White Plains Library at 100 Martine Ave. on Wednesday,…
Read MoreNEW CITY—Clarkstown Supervisor George Hoehmann announced on Feb. 4 the creation of the Clarkstown Business and Economic Development Advisory Committee that is now charged with developing a strategic, pro-growth plan for the town. The committee will focus initially on studying continued shifts occurring in the town’s vitally important retail sector and ways the town can…
Read MoreWASHINGTON—As the battle for funding for President Donald Trump’s southern border wall continues with the possibility of another federal government shutdown or the declaration of a national emergency to free up funding, U.S. Rep. Sean Patrick Maloney (D-NY-18) warns that federal funding for projects at West Point could possibly be walled off. Rep. Maloney says…
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