WHITE PLAINS—As governments across the globe deal with the spread of the Novel Coronavirus—or COVID-19—the crisis hit home earlier this week when it was learned that an attorney from New Rochelle tested positive for the virus. On March 4, Gov. Andrew Cuomo confirmed reports that in addition to the 50-year-old attorney, three members of his…
Read MoreYONKERS—At its Feb. 19th session, the Board of Directors of the Yonkers Industrial Development agency granted preliminary approval of proposed financial incentives for a movie studio complex to be built at the iPark complex here. The incentives are in connection with the $60-million first phase of the studio complex for Lionsgate motion picture company. The…
Read MoreGOSHEN—Although Gov. Andrew Cuomo and the State Legislature are currently grappling with how to close a $6-billion budget shortfall, representatives of a coalition advocating for a $500-million project to expand Route 17 from Harriman in Orange County to Monticello in Sullivan County are undeterred in their belief that now is the time to move forward…
Read MoreTOWN OF WALLKILL—The golf course industry nationwide and in the New York metro region continues to struggle with declining memberships and revenues. A host of facilities in the Hudson Valley have turned to either outright sale or multifamily development on their course properties to increase revenues. These deals in some cases are geared to maintaining…
Read MoreTARRYTOWN—The Hudson Gateway Association of Realtors has re-launched its Young Professionals Network group for 2020, following a two-year hiatus. YPN, which was originally established by the National Association of Realtors in 2006, is tasked with helping the younger generation of Realtors build a stronger link with the real estate industry and expand networking and business…
Read MoreNEW ROCHELLE—Mill Creek Residential of Boca Raton, FL has acquired a little more than two acres of land that housed the former Blessed Sacrament elementary school and will develop a new eight-story 334-unit multifamily project at the site. The sale of the property was reported by commercial brokerage firm CBRE on Feb. 5, which represented…
Read MoreWHITE PLAINS—The Westchester County Industrial Development Agency announced recently it provided financial incentives for a wide range of new commercial developments that accounted for approximately $1.6 billion in new investment in Westchester County. The projects incentivized in 2019 involved more than 2,800 in new proposed residential units. Some of the projects involved repurposing vacant office…
Read MoreNEW YORK—Acadia Realty Trust of Rye has closed on the purchase of a retail condo in the SoHo section of Manhattan for $15.4 million from Premier Equities. The transaction is part of a string of recent and pending purchases by Acadia in SoHo and along Greene Street totaling more than $100 million. The latest deal…
Read MoreSOUTH SALEM—Veteran real estate broker and executive Gail Fattizzi was installed as the 2020 president of the Hudson Gateway Association of Realtors on Jan. 16 at a gala dinner event held at Le Chateau here. Fattizzi, who has served for 24 years as the executive director of the independent real estate brokerage network Westchester Real…
Read MoreWHITE PLAINS—A continued strong economy with low unemployment and plenty of credit at historically low interest rates, blunted most of the impact of federal tax reform that included a cap on state and local taxes (SALT) in the Hudson Valley region. Fourth quarter and full-year market statistics and analysis released recently by the Hudson Gateway…
Read MoreCHESTER—Orange County Executive Steven Neuhaus told a group of construction and organized labor leaders earlier this month that the county will put out a Request for Proposals for future development at the county-owned former Camp LaGuardia property in Chester and Blooming Grove, NY in coming weeks. Neuhaus, who appeared at the Jan. 14th meeting of…
Read MoreWHITE PLAINS—For the approximately 150 real estate and building executives assembled at the Building Owners and Managers Association luncheon on Jan. 9, many are now hoping that Westchester developer Robert Weisz is as wise a prognosticator as he has been a real estate investor. Weisz, a principal of RPW Group of Rye Brook, near the…
Read MoreWHITE PLAINS—Sales of residential real estate in the lower Hudson Valley remained strong in 2019, according to the recently released “2019 Annual And 4th Quarter Residential Real Estate Sales Report—Westchester, Putnam, Rockland, Orange and Sullivan Counties, New York” by the Hudson Gateway Multiple Listing Service, Inc. Overall residential sales, which include condominium, co-op and two…
Read MoreALBANY—With the specter of a $6-billion shortfall facing New York State this legislative session, Gov. Andrew Cuomo delivered his 10th State of the State Address on Jan. 8 that featured a host of new initiatives, including a $3-billion environmental bond act to fight climate change, a renewed call for legalized cannabis, as well as infrastructure…
Read MoreTwo of the New York metro area’s biggest tourist attractions, standing almost side-by-side and covering more than 500 acres, could be considered as anomalies within the concrete jungle of New York City. However, both the Bronx Zoo and the New York Botanical Garden are wide open havens of land nestled along Southern Boulevard in the…
Read MoreALBANY—In response to recent published reports of alleged fair housing discrimination on Long Island, the Real Estate Board of New York on Dec. 16 approved new regulations for real estate professionals to help combat housing discrimination. The new regulations, which the New York State Real Estate Board approved today, mandate enhanced disclosures by real estate…
Read MoreBronx Economy Continues to Attract Significant Investment With the publication of Real Estate In-Depth’s first special section on the Bronx, we thought it appropriate that our readers learn first-hand from the borough’s chief executive—Bronx Borough President Ruben Diaz Jr.—on the state of the borough. There is a lot happening in this borough made famous by…
Read MoreNEW ROCHELLE—The unfortunate tale of the troubled College of New Rochelle has officially come to an end after 115 years. The storied College of New Rochelle campus was sold at auction for $32 million to the Trustees of The Masonic Hall & Asylum Fund. The United States Bankruptcy Court approved the sale in a hearing…
Read MoreWHITE PLAINS—A developer that is seeking to redevelop a vacant office building into a 450-unit rental apartment complex secured a preliminary inducement of $6.57 million in mortgage and sales tax exemptions from the Westchester County Industrial Development Agency. The Westchester IDA granted the incentive package to 3 WPD Apartments LLC, an affiliate of Marcus Partners…
Read MoreALBANY—New York Gov. Andrew M. Cuomo and New York Attorney General Letitia James announced that New York, Connecticut, Maryland and New Jersey have filed a notice of appeal to the U.S. Court of Appeals for the Second Circuit to continue litigation against the federal government for what they term as the unlawful and unprecedented cap…
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