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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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Home Sales Fall Sharply in Hudson Valley in Second Quarter

July 21, 2022

WHITE PLAINS—If Realtors are feeling a sense of deja vu when it comes to current home sales activity, perhaps they are recalling how conditions were back in 2018 and 2019, which were both considered strong markets at the time. However, the boom market of 2021, with surging sales and soaring prices throughout the region, has…

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Pattern Study Confirms NYC Migration to Hudson Valley

July 18, 2022

NEWBURGH, NY—A recently released study by regional research group Pattern for Progress found that media reports and sentiments of area Realtors of a significant exodus of New York City residents to the Hudson Valley were indeed accurate. The Pattern for Progress study released on July 8 found that during 2020—the first year of the COVID-19…

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Regeneron Pharmaceuticals Breaks Ground on $1.8B Expansion

July 18, 2022

TARRYTOWN—The largest business expansion project in the history of Westchester County became official on June 22. New York Gov. Kathy Hochul joined other state, county and local officials to celebrate the ceremonial groundbreaking of Regeneron Pharmaceutical Inc.’s $1.8-billion expansion project at its corporate headquarters campus in Tarrytown/Greenburgh. The biotechnology company has committed to create at…

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Orange County Partnership Launches Program to Secure Key Information on Available Properties Countywide

July 18, 2022

GOSHEN—Terming it as one of the most important efforts it has launched in more than 20 years, The Orange County Partnership officially unveiled its “Site Inventory Program” (SIP) that will, over the coming months, seek municipal government input from across Orange County to determine all available properties that could be developed in their respective jurisdictions.…

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