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Realtor.com Housing Forecast: Homebuying Costs Aren't Coming Down in 2023

December 1, 2022

SANTA CLARA, CA—Amid higher mortgage rates and budgets squeezed by inflation, homebuyers looking for affordability in 2023 will find that prices aren't coming down, according to the Realtor.com 2023 Housing Forecast released on Nov. 30. Instead, with the housing market beginning a gradual adjustment that could last through 2025, what next year will offer buyers…

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Manhattan Realtor Tony D’Anzica Named 2023 HGAR President

November 29, 2022

SLEEPY HOLLOW—The Hudson Gateway Association of Realtors held its 106h Annual Member Appreciation Day and Annual Meeting on Monday, Oct. 24 at the Sleepy Hollow Hotel and Conference Center here that was highlighted by the announcement that veteran Manhattan Realtor Tony D’Anzica of DynaMax Realty, NYC, Inc. is the organization’s 2023 President. At the event,…

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Realtors Shift Focus to Key Global Issues at NYC Conference

November 21, 2022

NEW YORK—If the last few years have taught real estate practitioners anything, it is the old saying that “All real estate is local” is very short-sighted. With the COVID-19 pandemic, worldwide inflation and the Russian invasion of Ukraine as key evidence, the influence of global events and trends play a critical part in the health…

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NAR: U.S. Existing-Home Sales Declined 5.9% in October

November 18, 2022

WASHINGTON—Existing-home sales retreated for the ninth straight month in October, according to the National Association of Realtors. All four major U.S. regions registered month-over-month and year-over-year declines. Northeast home sales fell 6.6% last month as compared to September 2022 and 23% from October 2021. Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and…

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Breaking News: $100 Million Movie Studio Project Proposed in Hastings-on-Hudson

November 16, 2022

HASTINGS-ON-HUDSON—The burgeoning movie and television production industry in the Hudson Valley could be getting larger as a major “green” television-movie studio project in Hastings-on-Hudson is now in the approval process. Executives with Atlanta-based Electric Owl Studios made a presentation before the village’s Board of Trustees last evening (Nov. 15) on its $100-million television/movie studio project…

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SPOTLIGHT ON: HGAR 2022 Affiliate of the Year Brian Tormey

November 15, 2022

When Brian Tormey, President of TitleVest Agency in Manhattan, attended HGAR’s Members Appreciation Day in October, he had no idea it would end with him being named the Association’s Affiliate Member of the Year. “I was completely surprised, and I am truly honored,” he said. “I really never expected this.” Tormey has been an Affiliate…

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Galleria at White Plains Redevelopment Taking Shape with New Partners; Portion of Mall Will Close in Early 2023

November 4, 2022

WHITE PLAINS—The long-promised redevelopment plan for The Galleria at White Plains, which was the focal point of the urban renewal of the downtown district in the late 1970s and early 1980s, is taking shape. While details are still sketchy at best, the owner of the 870,000-square-foot, four-level retail property—Pacific Retail Capital Partners and Aareal Bank—announced…

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Long Delayed Project at Shuttered Hospital Site Scheduled to Start Next Year

October 31, 2022

PORT CHESTER—It appears that plans to redevelop the long-shuttered United Hospital property off Route 1 in Port Chester can finally proceed to construction in 2023 after nearly two decades of false starts and community opposition that prevented shovels turning dirt on the venture. Rose Associates and BedRock Real Estate Partners announced they recently secured final…

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HGAR Wins Prestigious Platinum Global Achievement Program Award From NAR

October 31, 2022

WASHINGTON—The National Association of Realtors has notified the Hudson Gateway Association of Realtors that it will bestow the PLATINUM Global Achievement Program Award for 2022 to HGAR for its global services initiatives undertaken by its Global Business Council at a national conference in Orlando in a few weeks. The PLATINUM Global Achievement Program award is…

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Home Sales Decline Continues in NYC-Hudson Valley Markets

October 20, 2022

WHITE PLAINS—Home sales continued to decline in the third quarter of this year as the New York City and Hudson Valley markets grapple with stubborn low inventory levels, high inflation, rising interest rates and home prices. Overall home sales in the region fell in the fourth quarter of 2021 and now in the first three…

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President Biden Visits Hudson Valley to Tout $120B Investment in NY Through CHIPS Act

October 17, 2022

POUGHKEEPSIE—Two major company’s combined promised $120 billion in investments in New York State prompted President Joe Biden to visit the Hudson Valley earlier this month to tout the legislation that is driving this historic infusion of private capital—the $100-billion CHIPS and Science Act, which was passed by Congress earlier this year. On Oct. 4, in…

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New York City Council Passes Controversial Bruckner Blvd. Rezoning

October 17, 2022

NEW YORK—The controversial Bruckner Boulevard rezoning proposal that was supported by city leaders and labor unions, but was opposed by some community advocates, including Community Board 10, was passed unanimously by the New York City Council on Oct. 12 by a 48-0 vote. The approval is a victory for New York City Mayor Eric Adams,…

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Bronx Real Estate Market Remains Strong Despite Economic Headwinds

October 17, 2022

The Bronx saw record dollar volume and the second most single-family home transactions ever recorded with $1.54 billion spent over 189 transactions. These were slight increases over the second half of 2021 and significant increases year over year. The overall increase in activity is an indication of the upside and opportunities found in the Bronx.…

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Getting to Know The Bronx: HGAR Holds First Ever Historical Bronx Tour

October 11, 2022

NEW YORK—Did you know that The Bronx is the oldest borough in New York City, or that it’s also home to the oldest golf course in the country—Van Cortlandt Park Golf Course? Historical sites are scattered throughout The Bronx as well, including the Edgar Allen Poe Cottage, Van Cortlandt House Museum, Woodlawn Cemetery and the…

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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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