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NYC, Hudson Valley Residential Market’s Resiliency Still Evident in Third Quarter, Despite Headwinds

October 4, 2022

NEW YORK—The real estate market in the lower Hudson River Valley and greater New York City suburban area continued to be battered by chronic low inventory, rising interest rates and persistent inflation during the third quarter of 2022. However, even given these adverse conditions, resiliency and consistent buyer demand are still evident, especially when compared…

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The Transformation of the ‘Platinum Mile’ Continues With $400M Project at Former Renaissance Hotel Site

October 3, 2022

HARRISON—The continued adaptive reuse and redevelopment of office properties along the Platinum Mile and particularly in a section in Harrison called the “Teardrop Neighborhood” continues. In recent years, at the former Platinum Mile suburban office corridor in Harrison and White Plains along I-287, developers have torn down or rebuilt underutilized office properties for multifamily and…

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Seizing the Opportunity to Compete for High-Value Manufacturing Projects

September 22, 2022

Globalization has long impacted the location decisions of manufacturing firms; many have decided to locate overseas over the last 20 years. Fast forward to 2022—global pandemics, geopolitical uncertainty, and heightened supply chain risks have complicated economic development and location decision making. As documented in a recent Wall Street Journal article, American companies are on pace…

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Five Questions With: Orange County Executive Steven M. Neuhaus

September 22, 2022

GOSHEN—Now in his third term of office, Orange County Executive Steven M. Neuhaus is looking beyond the COVID-19 pandemic to the future of Orange County. Neuhaus, at a recent meeting of the Alliance for Balanced Growth, did not hold back and offered his frank assessment of the economy and what he believes is the proper…

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NAR: U.S. Existing-Home Sales Slipped 0.4% in August; Northeast Home Sales Grew 1.6%

September 21, 2022

WASHINGTON—Existing-U.S. home sales experienced a slight dip in August, marking the seventh consecutive month of declines, according to a report released today by the National Association of Realtors. Month-over-month sales varied across the four major U.S. regions as two regions recorded increases, one was unchanged and the other posted a drop. On a year-over-year basis,…

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Haggerty to Leave HGAR at Year's End To Take Over Leadership of OneKey MLS

September 20, 2022

WHITE PLAINS—Richard Haggerty, who has been serving the Hudson Gateway Association of Realtors and its predecessor organizations for nearly four decades, informed the HGAR Board of Directors earlier this month that he will be leaving the organization at the end of this year to take over as Chief Executive Officer of its subsidiary organization, OneKey…

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HGAR Travels to Nation’s Capital for Major RE Conference

September 19, 2022

WASHINGTON—I had the privilege of attending earlier this month RISMedia’s 34th Annual CEO & Leadership Exchange 2022 at the iconic Mayflower Hotel in Washington D.C. It was a top-notch high-energy event. Talks and panels shared everything from game planning in a shifting market, changing consumer expectations and adapting to new and efficient strategies. The real…

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Area Mayors Discuss Affordable Housing, Commercial Development, Community Safety

September 16, 2022

WHITE PLAINS—Affordable housing, commercial development, energy resources and community safety were among the issues discussed recently at a live “Meet the Mayors” panel held by the Women’s Council of Realtors on Sept. 12 at HGAR’s headquarters in White Plains. Moderated by Leah Caro, Co-Chair of HGAR’s Legislative Committee, the panel included the mayors of White…

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Experts Predict Recession Likely in 2023 as Fed Continues to Battle Inflation

September 14, 2022

NEW YORK—A consensus of real estate and finance experts predicted that a recession is likely in 2023 as the Federal Reserve will continue to hike rates this year to battle rising inflation. The experts were part of a virtual panel discussion held on Sept. 7 hosted by Fordham University’s Real Estate Institute and The Business…

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The DSF Group Sells New Rochelle Rental Tower for $200 Million

August 31, 2022

NEW ROCHELLE—An affiliate of Boston-based The DSF Group, which has been a very active player in the Westchester County multifamily sector, has sold Halstead Station, a 24-story, 408-unit, luxury tower adjacent to the New Rochelle Metro North train station, for $200 million. The deal was announced by brokerage firm JLL, which represented The DSF Group…

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Five Questions With Marsha Gordon President, CEO Business Council of Westchester

August 18, 2022

RYE BROOK—In 2001, Dr. Marsha Gordon took the reins of The Business Council of Westchester. In those more than 20 years, she has increased the organization’s membership and elevated its reputation as a respected business advocacy organization not only in Westchester, but in the Hudson Valley and throughout the state. With the specter of a…

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Where are the Affordable Housing Options in the Hudson Valley?

August 15, 2022

The phrase “affordable housing” may seem like an oxymoron in the Hudson Valley, where second quarter median sales prices for single-family homes soared to $885,000 in Westchester, $645,000 in Rockland, $617,500 in the Bronx, $480,000 in Putnam, and $415,000 in Orange County. Only Sullivan County held out as somewhat affordable with a median single-family home…

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HGAR’s Domathoti, Bauman Named to NAR’s 2023 Leadership Class

August 10, 2022

CHICAGO—Hudson Gateway Association of Realtors’ President Anthony Domathoti and Treasurer Carmen Bauman have been named to the roster of the National Association of Realtors’ 2023 Leadership Academy class. The National Association of Realtors announced the full roster of its 2023 Leadership Academy class on Aug. 10 that included 20 Realtors from across the country who…

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MTA Congestion Pricing Plan Sets Peak Tolls from $9 to $23

August 10, 2022

NEW YORK—The details of the Metropolitan Transportation Authority’s long-delayed and controversial congestion pricing plan were unveiled on Aug. 10. The plan, which will now be the subject of public hearings later this month, calls for the implementation of peak tolls to enter Manhattan’s Central Business District ranging from $9 to as high as $23. The…

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Westchester Launches $10M Landlord-Tenant Assistance Program

August 9, 2022

WHITE PLAINS—Westchester County Executive George Latimer announced on Aug. 9 the county had established a $10-million fund for small landlords to make repairs on their apartments with the proviso that they maintain affordable rent levels at their properties. The Landlord Tenant Assistance Program will allow small landlords who own eight units or less, who maintain…

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Harbor Group International JV Acquires Avalon Green for $306 Million

July 27, 2022

ELMSFORD—A joint venture of affiliates of Norfolk, VA-based Harbor Group International, LLC and Azure Partners of New York City has acquired the Avalon Green multifamily community in Elmsford for $306 million. The joint venture announced on July 25 that it would further implement a $9.2-million capital improvement program across the 617-unit community to refresh amenities…

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Pfizer to Spend $470 Million to Expand Vaccine Operations in Rockland County

July 22, 2022

PEARL RIVER—Global pharmaceutical firm Pfizer Inc. reports that it will spend $470 million to expand its vaccine research and development operations here. As Bloomberg first reported, Pfizer confirmed to Real Estate In-Depth that it plans over the next three years to secure necessary approvals and expand and modernize its campus with a new 260,000-square-foot lab…

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