WHITE PLAINS—The improving national and local economies are definitely benefitting the Westchester County office market and all signs are pointing to a year of positive absorption and lower vacancy rates. That was the consensus of the participants of a panel comprised of commercial brokers and developers that offered their 2016 prognostications for the Westchester…
Read MoreWHITE PLAINS—The Hospital for Special Surgery will establish the largest outpatient center in its system here at 1133 Westchester Ave. at the end of 2017. In addition, Real Estate In-Depth has learned that property owner RPW Group is close to resurrecting a plan to build a hotel nearby. The Hospital for Special Surgery’s outpatient center…
Read MoreBOSTON—Although most likely a long shot, Westchester County officials were still disappointed when they learned that General Electric would not move its headquarters from Fairfield County across the New York State border to Westchester. GE officials reported on Jan. 13 that it would relocate its corporate headquarters from Fairfield, CT to Boston, MA. Perhaps…
Read MoreWHITE PLAINS—Westchester County Executive Robert P. Astorino announced on Dec. 10th that 2015 was a banner year for the Westchester County Industrial Development Agency and the Local Development Corporation, which supported 14 projects with total private investment of more than $842 million. The IDA and LDC projects, which ranged from major residential buildings in downtown…
Read MoreCARMEL—The year 2015 saw some changes in Putnam County government, from Tourism Director Libby Pataki taking leave to manage her husband former New York Gov. George Pataki’s Presidential bid to Putnam Economic Development Director Meghan Taylor leaving the PEDC to take on a key regional post with the Empire State Development Corp. However, the county…
Read MoreNearly 650 members of the commercial real estate industry gathered at the March of Dimes Real Estate Award Breakfast to honor Acadia Realty Trust’s Kenneth F. Bernstein, President and CEO, with the coveted Real Estate Award. The event was held on November 13. Each year, the March of Dimes pays tribute to outstanding individuals and…
Read MoreGov. Andrew Cuomo at the CFA Awards announcement last week in AlbanyMid-Hudson Secures Nearly $91M in State Funding Mid-Hudson Secures Nearly $91M in State Funding ALBANY—This may well prove the case that the Mid-Hudson is not considered upstate. While the Mid-Hudson region’s economy will surely benefit from the $90.4 million for 109 projects from Gov.…
Read MoreALBANY—Economic development officials and business leaders from across New York State will be arriving in Albany for Thursday’s announcement of the annual economic development awards. There is a lot at stake at this year’s competition among the state’s regional councils, including the Mid-Hudson Regional Economic Development Council, since Gov. Andrew Cuomo is expected to hand…
Read MoreSLEEPY HOLLOW—With approvals in hand for its first phase of development, the developer of what is now being called the “Edge on Hudson” development at the former General Motors assembly plant property here expects to commence site work and necessary infrastructure upgrades in early 2016 to ready the site for what will be a massive…
Read MoreKINGSTON—The historic Steel House restaurant in Kingston was recently purchased by Frank Guido who also operates Mariners Harbor in Highland, and Frank Guido’s Little Italy in Kingston. The deal was announced by John J. Lease Realtors, which brokered the transaction for the waterfront property at 800-100 Rondout Landing. The Cornell Steamboat Co. originally built the…
Read MoreGOSHEN—Representatives of Legoland have confirmed that after being turned away by the Village of Haverstraw last month to build a $250-million Legoland Amusement Park there, the company is considering Orange County as a possible site. Orange County officials have been successful in attempting to persuade the developers of a $250-million Legoland–themed amusement park not to…
Read MoreYONKERS—Simone Development Companies announced earlier this month that Fortina is coming to the Boyce Thompson Center, the new mixed-use center under construction in Northwest Yonkers. Fortina, which has restaurants in Armonk, Rye Brook and recently opened a location in Stamford, CT has signed a lease for 5,605 square feet of space on the main level…
Read MorePELHAM MANOR—National eyewear retailer Visionworks recently celebrated the grand opening of a new 3,000-square-foot store at Post Road Plaza in the Village of Pelham Manor. Situated directly at the junction of U.S. 1, Pelham Parkway and the Hutchinson River Parkway, the 267,000-square-foot shopping center is exclusively leased and managed by North Plainfield, N.J.-based Levin Management.…
Read MoreRYE—Colliers International has been retained by The ARC Companies as the exclusive leasing agent for its 180,000-square-foot, Class-A office building at 555 Theodore Fremd in Rye. The three-story property, which The ARC Companies acquired at the end of 2014, features a recently renovated, full-service cafeteria, fitness center, and a lobby with a stunning glass sculpture.…
Read MoreCHESTER—Outstanding achievements in local commercial real estate were recognized at the recent inaugural “Dealmaker” awards and mixer presented by the Hudson Valley chapter of the New York State Commercial Association of Realtors. The ceremony, held at the Sugarloaf Performing Arts Center, is the first annual awards ceremony created to celebrate exceptional achievements in local commercial…
Read MoreHARRISON– Friedland Realty Advisors, a more than 40-year-old full-service commercial real estate firm, announced it had received a significant investment from Robert Martin Company, a real estate investment, development and management firm headquartered in Elmsford. Through the investment, Friedland Realty can now offer clients the combined expertise and resources of two of the longest-standing real…
Read MorePEARL RIVER—The sale of the Pfizer campus here to Industrial Realty Group, LLC closed on Nov. 19, IRG announced in a press statement. The Los Angeles, CA-based company stated that the early stages of its plan for the 200 acres it acquired envision a “dynamic mixed-use, multi-tenant campus.” No financial details on the transaction were…
Read MoreWHITE PLAINS—If all goes according to plan it will be more than 11 years from the time the developer of the former Reader’s Digest corporate headquarters in Chappaqua acquired the property in December 2004 until it turns its first shovel on its mixed-use project on the 114-acre campus in early 2016. The archives of Real…
Read MoreWHITE PLAINS—For the majority of his recent presentation before HGAR’s Commercial Investment Division, developer Felix Charney kept to his word and was upbeat and at times humorous about his firm’s 11-year journey to obtain approvals and build a mixed-use development at the former Reader’s Digest headquarters in Chappaqua. However, he did lash out at New…
Read MoreEDISON, NJ—The new leadership of Mack-Cali Realty Corp. say the company will embark on a new direction that will focus on waterfront and transit-oriented office properties as well as luxury multi-family properties. In terms of the company’s suburban assets, which include holdings in Westchester County, the company intends to spend $20 million upgrading those properties.…
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