WHITE PLAINS—While the perfect storm of low inventory, rising interest rates and persistent inflation have certainly had their impact, the lower Hudson River Valley and greater New York City suburban real estate markets have continued to show remarkable resiliency in the second quarter of 2022. Although the market has, in some instances, slowed compared to…
Read MoreWHITE PLAINS—The luxury market in Westchester County continues to be strong based on current sales data, however, officials with Houlihan Lawrence tell Real Estate In-Depth that the volatile stock market, rising interest rates and inflation are bound to bring about some changes in the weeks and months ahead. Anthony Cutugno, Sr. Vice President, Director of…
Read MoreNEWBURGH—More than a year ago, Genting Americas, the parent company of Resorts World Catskills casino in Monticello, presented plans to the Newburgh Town Board to locate a Video Gaming Machine facility at the Newburgh Mall in eastern Orange County. The new plan was proposed after Genting scrapped an earlier proposal to build a VGM facility…
Read MoreWHITE PLAINS—With a backdrop of rising interest rates, slowing buying demand, high inflation and a turbulent stock market, some industry observers are questioning the strength of the residential sales market and forecasting hard times ahead. With the recent 0.75% increase in the short-term benchmark lending rate by the Federal Reserve to try and tame high…
Read MoreWASHINGTON—U.S. Existing-home sales retreated for the fourth consecutive month in May, the National Association of Realtors announced today (June 21). Month-over-month sales declined in three out of four major U.S. regions, while year-over-year sales slipped in all four regions. The Northeast was the outlier with a 1.5% increase in single-family home sales in May. The…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors and the staff of Real Estate In-Depth regret to inform the membership and newspaper readership of the passing of John Vrooman, who died suddenly on June 5, 2022, at the age of 57 in upstate Lewiston, NY. John authored “Tech Talk” in HGAR’s monthly newspaper Real Estate In-Depth…
Read MoreWASHINGTON—Pending home sales slipped in April, as contract activity decreased for the sixth consecutive month, the National Association of Realtors reported today. Only the Midwest region saw signings increase month-over-month, while the other three major regions reported declines. Each of the four regions registered a drop in year-over-year contract activity. The Pending Home Sales Index…
Read MoreMore than four years ago, Bridget Gibbons left the private sector to join the Latimer Administration’s economic development department. Little did she know that two years into her new job, the county would be facing its biggest health crisis—COVID-19 that required her to work on developing programs and initiatives to help businesses cope with the…
Read MoreWASHINGTON—The initial reaction from the real estate industry to President Biden’s Housing Supply Action Plan that looks through a variety of measures to increase the affordable housing stock in the United States by preserving and building hundreds of thousands of units and closing the housing supply gap in the country within the next five years…
Read MoreYONKERS—Westchester County and city officials were on hand on May 5 to celebrate the groundbreaking of a nearly $600-million mixed-use project that will transform a large swath of the city’s waterfront by adding nearly 1,400 units of housing to its growing housing stock. Extell Development officials turned the first dirt on its long awaited $585-million…
Read MoreALBANY—A contingent of more than 70 members of the Hudson Gateway Association of Realtors and staff traveled to Albany on May 10 to lobby state lawmakers on the organization’s 2022 legislative agenda that includes staunch opposition to “Good Cause” eviction and the association’s support for statewide co-op transparency legislation, similar to laws passed in Rockland…
Read MoreKATONAH—Sequestered on 80 acres in the Katonah countryside in northern Westchester County, Caramoor Center for Music and the Arts is an unassuming, yet incredibly beautiful destination for live music performances of all genres. Featuring a Spanish courtyard, Venetian theater, sunken gardens, a Renaissance-infused music room and meandering pathways to explore, Caramoor also offers educational and…
Read MoreYONKERS—The Ridge Hill Shopping Center in Yonkers, which first opened more than a decade ago, has been sold to a partnership of Nuveen Real Estate, Taconic Partners and North American Properties for $220 million. The new ownership intends to rebrand the 74-acre property into an outdoor lifestyle center as well as “unlock the full development…
Read MoreWHITE PLAINS—Realtors believe that the lower home sales numbers registered in the first quarter of this year were due primarily to record low inventory and not any sharp decline in buying demand. In fact, brokers interviewed by Real Estate In-Depth agree that current economic headwinds in the form of high inflation, rising mortgage interest rates…
Read MoreLast month, partners Epoch Senior Living and National Development opened the doors for the first time to their new $120-million Waterstone of Westchester luxury senior housing project in Downtown White Plains. The independent living facility for those 62 and older offers everything a five-star hotel would offer and more. The 132-unit property is located across…
Read MoreALBANY—The most consequential economic development project for the mid-Hudson Valley region in decades is not a major corporate relocation, a large lease deal or a new massive warehouse developed by a national e-commerce giant. Instead, it will be a major infrastructure project that will surely facilitate mega deals like those mentioned above in the coming…
Read MorePEARL RIVER—Momentive Performance Materials Inc. is relocating its operations in Tarrytown to nearly 67,000 square feet of space at the 207-acre Hudson Valley iCampus property here in 2023. Momentive Performance, which is headquartered in Waterford, (Saratoga County) NY will relocate from its current space at 769 Old Saw Mill River Road in Tarrytown in early…
Read MoreWHITE PLAINS—The two leading realty and building advocacy organizations in Westchester County—the Hudson Gateway Association of Realtors of White Plains and The Building and Realty Institute of Armonk—are urging State Senators to confront the region’s legacy of deliberate housing segregation by passing a bill that would eliminate discriminatory restrictive covenants that continue to exist in…
Read More“In the current hot market, people who have traditionally enjoyed homeownership can capitalize on those gains to realize new opportunities. Meanwhile, the market becomes increasingly unaffordable, and the obstacles greater, for those trying to enter the market.” WASHINGTON—The lack of affordable homes is the top obstacle holding back potential home buyers of all races, but…
Read MoreWHITE PLAINS—Furniture Sharehouse, one of the many charities supported by the Hudson Gateway Realtor Foundation, recently celebrated 15 years of serving Westchester County at its modest location at the Westchester County Airport in White Plains. “We could not have reached this amazing milestone without the incredible support of the HG Realtor Foundation and others who…
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