Predicting the real estate market is about as easy as timing the stock market, due to the complex interplay of forces that create the market. Four basic numbers tend to drive real estate—home sales, home prices, months supply of inventory and mortgage rates. The economy, encompassing inflation and unemployment, as well as policy decisions on…
Read MoreWHITE PLAINS—With House and Senate Republicans putting the final touches on federal tax reform legislation, Realtors both here and across the nation are preparing for the bill’s passage, possibly before Christmas, and what impacts it could bring to the housing market in 2018. Prominent local Realtors offered mixed opinions on what impacts tax reform will…
Read MoreTARRYTOWN—Westchester County Executive-Elect George Latimer met with county business leaders on Dec. 12th and said that Republicans and Democrats in county government must work together to face new business and political realities. He also said that because the county budget for 2018 has yet to be finalized, he feels somewhat “hamstrung” in trying to implement…
Read MoreALBANY—Gov. Andrew Cuomo announced on Dec. 13 that the Mid-Hudson region was selected as top performer among the state’s 10 regional economic development councils, landing a total of $84.8 million in state funding for 113 projects. More than $755 million in economic and community development funding was awarded through Round VII of the Regional Economic…
Read MoreBarry Kramer, one of the two principal brokers of Westchester Choice Realty Inc. in Scarsdale, has the distinction of being both the HGAR 2017 Realtor of the Year and the 2018 HGAR President. “I didn’t’ think I could be a Realtor of the Year and president at the same time, so I was really surprised,”…
Read MoreWHITE PLAINS—In addition to Rockland County Executive Ed Day who recently told Real Estate In-Depth that New York State taxpayers were getting “sandbagged” by the federal tax reform plan, other key state and local leaders also blasted various components of the GOP House and Senate tax reform plans that at press time were being debated…
Read MoreNEW CITY—Rockland County Executive Ed Day presided over the permanent closure of the six-story Sain office building here on Dec. 5th where he urged county lawmakers to facilitate the multi-million dollar sale of the property to make way for a senior assisted living facility. Day announced that the last of the county departments operating at…
Read MoreNEW YORK CITY—The Regional Plan Association in its fourth regional plan says some residents of the New York City metro region are not enjoying the benefits of the robust NYC economy due in large part to the lack of investment in the area’s infrastructure, housing and quality of life. In its 373-page report released on…
Read MoreNEW YORK—Residential brokerage firm Douglas Elliman announced on Dec. 4 it had promoted its chief operating officer, Scott Durkin to president and chief operating officer effective immediately. Durkin, a 30-year real estate veteran and protégée of Barbara Corcoran, joined Douglas Elliman in 2015 as executive vice president of acquisitions and growth. He was promoted to…
Read MoreNEW YORK—Mastercard, which is headquartered in Purchase, is significantly expanding its operations in New York City, signing a lease to occupy approximately 212,500 square feet of space at a Fifth Avenue office building. The deal nearly triples the company’s presence in New York City. The new lease deal will have the credit card giant occupy…
Read MoreHARRIMAN—New York Gov. Andrew Cuomo traveled to Orange County on Wednesday to announce the impending start of construction on the long-awaited Exit 131 project adjacent to Woodbury Common Premium Outlets. New York State officials announced that Yonkers Contracting Co. Inc. and subcontractor design firm HNTB were awarded the Design-Build contract. A spokesman for Yonkers Contracting,…
Read MoreThere are new Department of State regulations that went into effect on Oct. 1, 2017 and will expire Oct. 1, 2022 concerning cease and desist zones in parts of the Bronx and Queens counties. The DOS determined that these new rules were warranted to prevent what were perceived by the public to be intense, repeated…
Read MoreNEW CITY—Republican Rockland County Executive Ed Day, who recently easily won re-election to a second term of office, says that New York taxpayers are being “sandbagged” by the federal tax reform proposal now being debated by Congress. In an exclusive interview with Real Estate In-Depth at his offices in New City, County Executive Day was…
Read MoreSCARSDALE, NY—Ginsburg Development Companies has sold the retail condominium component of its Christie Place mixed-use project across from the Scarsdale Metro North train station. Knowledgeable sources have informed Real Estate In-Depth that the deal was valued at $17 million. The sale to an unidentified private investor was announced by brokerage firm Holliday Fenoglio Fowler, L.P.,…
Read MoreTHOMPSON, NY—The tourism industry in the Hudson Valley will likely never be the same in just a few months because in mid-February a new player in the casino gaming industry in the Northeast will arrive—the $1.3 billion Resorts World Catskills casino resort. The first delivery of what will eventually be 2,157 high-tech slot machines arrived…
Read MoreNEW YORK—Public and private institutional construction starts in New York City through the third quarter of this year totaled approximately $4.2 billion, well above the $3.7 billion this sector produced all of last year. Paced by major projects, such as the $1.2-billion Jacob K. Javits Convention Center expansion and other major initiatives, the total for…
Read MoreTARRYTOWN—The Hudson Gateway Realtor Foundation, a division of the Hudson Gateway Association of Realtors, recently presented a $28,000 donation check to Make-A-Wish Hudson Valley at the Wish House in Tarrytown. The monies were raised at the foundation’s “Black & White Masquerade Ball” held in September at the Falkirk Estate and Country Club in Central Valley.…
Read MoreWHITE PLAINS—Tenant demand by health care, technology and communications concerns, particularly along the I-287 corridor, are helping bolster Westchester County’s commercial office market. Commercial brokerage firms Houlihan Lawrence and JLL recently released respective third quarter 2017 market reports for Westchester County. For the most part the two firms agreed on a number of positive prevailing…
Read MoreWASHINGTON—As expected, the U.S. House of Representatives approved the controversial Republican tax reform plan—“Tax Cuts and Jobs Act”—on Thursday by a 227-205 margin. The battle over tax reform now switches to the U.S. Senate where the GOP holds a razor thin two-seat majority over Democrats, who have all lined up against the House and Senate…
Read MoreYONKERS—Empire City at Yonkers Raceway has retained J.P. Morgan Securities LLC to identify a strategic partner or perhaps explore a possible sale as it looks transform the highly successful racing and casino venue into a global gaming and entertainment destination. In its announcement released on Nov. 15, Empire City Casino officials said that JP Morgan…
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