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U.S. Pending Home Sales Dwindle 4.1% in February; Northeast Post Slight Increase in Pending Deals

March 31, 2022

WASHINGTON— Pending home sales slipped in February, marking four consecutive months of transaction decreases, according to the National Association of Realtors. Three of the four major U.S. regions saw contract signings fall month-over-month, with the Northeast being the only area that reported an increase. All four regions registered a decline in year-over-year contract activity. The…

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Five Questions With Hudson Valley Pattern for Progress CEO Adam Bosch

March 24, 2022

Recently, a new leader took the helm of what some in the business community consider the Hudson Valley’s very own think tank—Hudson Valley Pattern for Progress. The Board of Directors at Pattern for Progress appointed Adam Bosch, 39. to be the organization’s next president and chief executive officer, replacing Jonathan Drapkin, who had led the…

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NAR: Millennials Remain Dominant Home Buyer Generation with 43% Market Share

March 24, 2022

WASHINGTON—The share of millennial home buyers increased significantly over the past year. They are also the most likely generation to use the Internet to find the home they ultimately purchase and most likely to use a real estate agent, according to a report released by the National Association of Realtors on March 23. The 2022…

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Understanding Digital Currency and Closing Deals with Cryptocurrency

March 21, 2022

Amy Chorew, a Connecticut Realtor and President of Curated Learning, first heard about cryptocurrency back in 2017 while having her hair styled. “My hairdresser was talking about buying a condo and cashing out $50,000 in cryptocurrency as part of the down payment. All I could say at that time was ‘what’s that?’” she admitted. Fast…

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Westchester Marriott Sold for $40 Million New Owners Plan $30 Million in Upgrades

March 14, 2022

TARRYTOWN—One of the most recognizable hotel properties in Westchester County—the Westchester Marriott—has changed hands in a $40-million transaction. New York City-based Taconic Capital Advisors, HEI Hotels & Resorts of Norwalk, CT partnered to acquire the Westchester Marriott, a 444-key hotel in Tarrytown, from Ares Commercial Real Estate Corp. of New York City for $40 million.…

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Exclusive: Rockland County Amends Co-op Law to Require Co-Op Boards Explain Reasons for Applicant’s Denial

March 4, 2022

NANUET—Rockland County Executive Ed Day signed on March 3 a bill amending the county’s existing cooperative application decision law to require co-op boards to disclose the reason or reasons for a denial of a prospective buyer’s application. After a public hearing, the Rockland County Legislature passed the amendment to the “Timely Co-Op Application Decision Law”…

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Work Could Begin on Regeneron Pharmaceutical’s $1.4 Billion Expansion Project This Spring

February 28, 2022

WHITE PLAINS—Regeneron Pharmaceuticals, Inc. believes work could begin as early as this April on its $1.394-billion “Loop Road” expansion project in the Town of Greenburgh if the company secures necessary incentives from the Westchester County Industrial Development Agency and other sources totaling approximately $172.9 million and another $100 million in other public incentives. The Tarrytown-based company’s…

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Five Questions With NYSAR President Jennifer Vucetic

February 23, 2022

The recently installed 2022 President of the New York State Association of Realtors Jennifer Vucetic AHWD, CIPS, GREEN, MRP, SFR, PMN, CBR, ITI, C2EX, EPRO, takes the helm of the organization at a time of drastic change with COVID infections on the decline throughout the state, but the specter of rising interest rates and low…

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U.S. Homeownership Rate Experiences Largest Annual Increase on Record

February 23, 2022

WASHINGTON—The U.S. homeownership rate climbed to 65.5% in 2020, up 1.3% from 2019 and the largest annual increase on record. More Americans are likely to own a home now than during any year following the Great Recession (65.4% homeownership rate in 2010); however, Black Americans continue to face significant obstacles along the path to homeownership,…

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Commercial Brokers See Many Opportunities in Post-COVID Market

February 23, 2022

WHITE PLAINS—A panel of commercial real estate brokers from the New York City/Hudson Valley market that were part of a recent virtual panel hosted by the Hudson Gateway Association of Realtors were upbeat about many sectors in 2022, particularly the industrial, flex, health care and medical office segments. The region’s office market remains troubled as…

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Experts Bullish on Continued Manhattan, NYC Metro Housing Recovery

February 23, 2022

WHITE PLAINS—A panel of real estate executives agreed that the exodus from Manhattan due to COVID-19 is over and that the recovery in the Manhattan luxury housing market has gained momentum that will continue this year. In addition, the recovery, fueled by a roaring stock market, low interest rates and rapidly declining COVID infection rates,…

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New York Investment Firm Acquires White Plains Plaza for $105 Million

February 17, 2022

WHITE PLAINS—Argent Ventures, a privately held New York City-based investment firm, has acquired the twin-tower White Plains Plaza office property here from Ivy Realty of Greenwich, CT and DW Capital of New York City for $105 million. The deal represents the largest single asset office sale in Westchester County since 2010. The purchase expands Argent’s…

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Orange County Re-Issues RFP for Sale of Camp LaGuardia Property

February 15, 2022

GOSHEN—“If at first you don’t succeed, try, try again.” After a Request for Proposals in 2020 to sell the more than 258-acre Camp LaGuardia property that is located in the villages of Chester and Blooming Grove failed to find a viable buyer, Orange County says it has put the property once again on the market…

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Record-High Prices, Low Inventory Make It Increasingly Difficult for Black Americans to Achieve Home Ownership

February 7, 2022

WASHINGTON—The surging residential real estate market of the last two years led to record-high home prices and record-low inventory. This simultaneous "double trouble" has made it increasingly difficult for consumers, particularly Black Americans, to achieve homeownership, according to a new analysis released on Feb. 7 by the National Association of Realtors and Realtor.com. “The Double…

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Howard Hanna | Rand Realty Expands into Fairfield County, CT Market

February 1, 2022

NANUET—Howard Hanna | Rand Realty announced on Feb. 1 its expansion into the Fairfield County, CT market with the recent acquisition of the Madison and Post Real Estate Agency. The transaction will expand the footprint of Howard Hanna | Rand Realty with three new locations in Ridgefield, Stamford and Westport, CT. “Fairfield County is one…

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