NEW ROCHELLE—Louis Cappelli, the developer of New Roc City and Trump Plaza in New Rochelle, has returned to the City of New Rochelle. Executives of the Cappelli Organization joined with New Rochelle city officials on April 25th for the groundbreaking of The Standard, a new 14-story residential building located on the site of the former…
Read MoreWHITE PLAINS—The continuing decline in for-sale residential housing inventory in the Hudson Valley has put a crimp in overall sales, but has also placed upward pressure on home values. Realtors interviewed by Real Estate In-Depth say the current seller’s market is expected to remain static for most of this year, with strong buyer demand and…
Read MoreWHITE PLAINS—The Hudson Gateway Multiple Listing Service, Inc. (HGMLS) and the Sullivan County Multiple Listing Service, Inc. (SCMLS) announced on April 13 they have finalized an agreement to combine their two MLSs, expanding the HGMLS coverage to five counties in the Hudson Valley. SCMLS currently has approximately 200 agents in 58 primary participating offices, and…
Read MorePOUGHKEEPSIE—A panel of Hudson Valley “real estate visionaries” detailed the many demographic, technological and economic changes that are taking place now and are on the horizon for the commercial real estate industry in the region at a conference on April 12 staged by the Hudson Valley Economic Development Corp. and the Hudson Gateway Association of…
Read MoreWHITE PLAINS— Two veteran Westchester County developers—Martin Ginsburg and Robert Weinberg—pioneers and icons in their respective sectors are teaming up on a project that can finally provide a suitable gateway to Downtown White Plains from the White Plains Train station. The two developers are embarking on a redevelopment of a more than 500,00-square-foot office complex…
Read MoreTARRYTOWN—An affiliate of the DSF Group has acquired the Talleyrand Apartments complex here in a deal reportedly valued at more than $90 million. Commercial brokerage firm CBRE reported that Jeffrey Dunne, Gene Pride and Eric Apfel represented the seller in the transaction for the 300-unit multifamily community. Multiple press reports citing public records stated that…
Read MoreALBANY—Chief officials of the Hudson Gateway Association of Realtors, while not specifically citing the old axiom, did in fact embrace the tried and true sports strategy uttered by many a head coach that “Sometimes a good offense is a good defense.” The recently passed $168.3-billion Fiscal Year 2019 New York State budget did not include…
Read MoreWHITE PLAINS—Sales of residential housing during the first quarter of 2018 in the lower Hudson Valley market served by the Hudson Gateway Multiple Listing Service, while still strong when compared to the last several years, were flat to somewhat lower as compared to the first quarter of 2017. Sale prices continued to strengthen in all…
Read MoreYONKERS—Urstadt Biddle Properties Inc. has acquired the Tanglewood Shopping Center complex on Central Park Avenue here. The Greenwich, CT-based equity REIT acquired the complex from a group of families that were descendants from the original developer of the property, according to James M. Aries, senior vice president, director of acquisitions for Urstadt Biddle. No financial…
Read MoreSANTA CLARA, CA—Rising interest rates and home prices will cause a resounding majority of millennials to modify their home search, perhaps prompting them to seek a smaller or less expensive home or even consider different neighborhoods, according to a survey released on April 4 by realtor.com. Two factors are contributing to market sensitivity from millennials—their…
Read MoreNEW ROCHELLE—In a few weeks, “Elvis” will grace the stage at Glen Island Harbour Club in New Rochelle when the Hudson Gateway Realtor Foundation presents “Viva Las Vegas,” Tuesday, May 8 from 6 p.m. to 10 p.m. The fundraiser will support charities and non-profit organizations throughout the Hudson Valley and will feature “Elvis” tribute artist…
Read MoreTARRYTOWN—While not saying that he intends to scrap any of the public-private partnerships between the county and vendors for the management of Rye Playland and Westchester County Airport, Westchester County Executive George Latimer told a business group gathering recently that both deals are being reviewed by his administration. Latimer, in a speech before trades groups…
Read MoreWASHINGTON— New consumer findings from the National Association of Realtors surprisingly show that while a growing share of households in the first three months of the year feel more confident about the economy and their financial situation, those positive feelings are not translating to positive views that now is a good time to buy a…
Read MoreWASHINGTON—With six months remaining in the 2018 federal fiscal year the National Association of Realtors supported the passage of the $1.3-billion omnibus appropriations bill that was approved by the U.S. House and Senate on March 22, and signed by President Donald Trump, despite some misgivings, the next day. The measure funds the federal government through…
Read MoreNEW YORK—Former Westchester Deputy County Executive Kevin Plunkett left his office at the Westchester County Office Building in White Plains in January and has re-surfaced in the executive suite at Bronx-based Simone Development Companies. Simone Development announced on March 28 that Plunkett, who served as Deputy County Executive for two terms in Republican Robert Astorino’s…
Read MoreALBANY—A record number of members of the Hudson Gateway Association of Realtors traveled to the state capital on March 20 and joined Realtors from across the state to press the industry’s legislative agenda that includes advancing the implementation of a first-time home buyer’s savings account and transparency and disclosure in cooperative housing sales transactions statewide.…
Read MoreNEW YORK—Goggle Inc., a major tenant at the property, has acquired the Chelsea Market here from Atlanta-based Jamestown for $2.4 billion. Jamestown announced the closing of the transaction for the nearly 1.2 million square-foot complex on Tuesday. The former Nabisco factory occupies a full block bound by Ninth and Tenth avenues between 15th and 16th…
Read MoreWASHINGTON—Chief officials with the National Association of Realtors and the New York State Association of Realtors continue to point to low inventory levels as a continuing headwind for the residential sales market. The National Association of Realtors released home sales statistics for the month of February that showed a 3% sales volume increase nationally, however,…
Read MorePORT JERVIS—The New York State Department of Health has approved a Certificate of Need for a more than $40-million project at the Bon Secours Community Hospital here. Bon Secours parent Westchester Medical Center Health Network announced the state Department of Health approval on Wednesday. The new project at the border of Orange County and Pennsylvania…
Read MoreWAWAYANDA—The fallout from the corruption conviction of former Gov. Cuomo aide Joseph Percoco on Tuesday includes some officials from Orange County seeking an investigation or the outright revocation of permits granted for the $900-million CPV Valley Energy Center project here. Joseph Percoco, a former executive deputy secretary to Gov. Cuomo, was found guilty on Tuesday…
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