HGAR to Move HQ Offices in April WHITE PLAINS—While the talk of the real estate industry in the Hudson Valley has been the emergence of the multifamily sector as an economic engine driving growth in the Hudson Valley economy, in early 2016 it has been the retail sector that has grabbed the major headlines with…
Read MoreNEWBURGH—John J. Lease Realtors Commercial Division recently announced that it had sold the Newburgh Federal Building, which has been the home of the West End Post Office since 1940. The property traded for $950,000. The Federal Building at 460 Broadway is a landmark location in Newburgh The Federal Building was originally built by the Tarr…
Read MoreWHITE PLAINS—In what can only be described as “saving the best for last,” Hudson Valley commercial real estate brokers predicted the commercial markets will fare very well this year, fueled by increased tenant demand and surging health care and biotech sectors. The roundtable discussion presented by the Hudson Gateway Association of Realtors’ Commercial Investment Division…
Read MoreCARMEL—The Putnam Economic Development Corp. announced earlier this month that it had elected Joseph D. Roberto, president and CEO of PCSB Bank (formerly Putnam County Savings Bank), as its board’s new chairman. In addition, James Bates, Cathy Cassidy, James Copeland, Alana Mikhalevsky and Richard Weiss have joined the board, the PEDC announced. “Joe Roberto has…
Read MoreYONKERS—After a bid to implement a Public-Private Partnership structure to help finance a nearly $2-billion capital program failed some years back, the City of Yonkers is now looking to fund the much needed improvements to its aging school system via more conventional funding methods. The City of Yonkers and the Yonkers Public Schools announced on…
Read MoreGOSHEN—Construction work is now expected to begin in earnest very shortly on the redevelopment of the shuttered Orange County Government Center here. Orange County Executive Steve Neuhaus signed off on more than $52.2 million in contracts for the project. All winning bidders were the low bids for their respective work and will perform their services…
Read MoreWASHINGTON— Despite various global and domestic hurdles hindering economic growth, steady job gains and stable leasing demand should help keep commercial real estate activity expanding in 2016, according to the authors of an annual report published jointly by Situs Real Estate Research Corporation (RERC), Deloitte and the National Association of Realtors. According to the report…
Read MoreWHITE PLAINS– Having successfully executed a strategic leasing program on behalf of ownership, Colliers International announced the signings of several new long-term leases and renewals in excess of 14,000 square feet. The newly renovated, 45,000-square-foot boutique office property located at 12 Water Street is now 100% leased. Senior Managing Director Ian Ceppos and Executive Managing…
Read MoreNEW ROCHELLE—It appears that a major development proposal—the first project to come before the city since a far-reaching rezoning of the downtown district was approved by the City Council in December—will come before the city in the near future. While details are sketchy, a mixed-use high-rise development project is in the works in Downtown New…
Read MoreRYE BROOK—Houlihan Lawrence Commercial Real Estate Group, a division of Houlihan Lawrence, announced recently that veteran commercial real estate broker Garry Klein has been appointed Westchester regional manager. In this role, Klein will work closely with Director Thomas LaPerch in recruiting, marketing and sales operations in Westchester County. Klein has been involved in commercial real…
Read MoreWHITE PLAINS—Houlihan Parnes, Realtors, LLC, founded by Irish immigrant Daniel J. Houlihan in 1891, is celebrating its 125th anniversary this year. The family-owned privately-held company was originally founded as a carpentry and construction business, which evolved into property ownership and development and many related commercial service businesses. The firm is currently managed by James J.…
Read MoreWHITE PLAINS—The ownership of 7 Renaissance Square, a 65,600-square-foot building that is part of the Ritz-Carlton, Westchester complex in Downtown White Plains is under contract to be sold. The building ownership—a joint venture partnership of SL Green Realty and Renaissance Partners, LLC— has agreed to sell the property for a gross sale price of $20.7…
Read MoreWHITE PLAINS—The multifamily sector in Westchester County is getting stronger and the development pipeline for rental units is growing as developers hope to capture Millennials seeking housing in a live-work-play environment. With major projects under construction in White Plains, such as 55 Bank St., and in Yonkers along the Hudson River waterfront, as well as…
Read MoreNEW YORK—As part of an ongoing initiative to promote Westchester County as the “smart spot for business,” Westchester County Executive Robert P. Astorino recently met with a group commercial real estate brokers in Manhattan to tout the many benefits of doing business in Westchester. “I’m here today to tell you that Westchester is open for…
Read MoreWHITE 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…
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