Featured

RXR Realty Proposes Second Major High-Rise Project in New Rochelle

July 27, 2017

NEW ROCHELLE—As promised by RXR Realty’s Seth Pinsky at a recent meeting of the Hudson Gateway Association of Realtors’ Commercial Investment Division, RXR has announced it intends to develop a second major development project in Downtown New Rochelle. RXR Realty, which is building a high-rise mixed-use project at the former Loew’s Theater site in Downtown…

Read More

New York Building Congress Report Details Future Power Supply Concerns

July 27, 2017

NEW YORK—The impending closure of the Indian Point nuclear power plants in Buchanan and other market forces could pose significant risks to the future energy supply of New York City and the Lower Hudson Valley, a recently released report warns. The New York Building Congress released a report earlier this week entitled “Electricity Outlook: Powering…

Read More

Legoland Project Clears Key Environmental Hurdle

July 21, 2017

GOSHEN—The controversial $500-million LEGOLAND New York project secured a key approval on July 20th of its Final Environmental Impact Statement, a significant hurdle in its bid to win municipal approvals for the project so it can move forward later this year with construction of the theme park. Approximately 200 people packed the Orange County Emergency…

Read More

Astorino Claims Victory in Zoning Dispute With HUD

July 19, 2017

WHITE PLAINS—A seven-year battle between Westchester County and the U.S. Department of Housing and Urban Development over terms of a controversial fair housing settlement appears to be finally winding down. On July 19th, Westchester County Executive Robert Astorino announced that HUD had accepted the county’s 11th submission of an Analysis of Impediments to Fair Housing…

Read More

Hudson Valley Realtors Hoping With Rising Prices Comes New Listings

July 19, 2017

WHITE PLAINS—The majority of the four-county Hudson Gateway Multiple Listing Service territory continued to enjoy sales volume increases in the second quarter, however the falling levels of for-sale housing inventory have constricted the rate of sales growth in most markets. Realtors interviewed by Real Estate In-Depth said they are hopeful rising for-sale home prices in…

Read More

Real Estate, Lending Industries Offer Mixed Reactions To CFPB’s ‘Know Before You Owe’ Disclosure Changes

July 12, 2017

WASHINGTON—The Consumer Financial Protection Bureau finalized updates to its “Know Before You Owe” mortgage disclosure rule with amendments released on July 7th that the bureau stated are intended to formalize guidance in the rule, and provide greater clarity and certainty. The changes will facilitate implementation of the Know Before You Owe rule by the mortgage…

Read More

Hudson Valley Home Sales Continue to Rise Despite Falling Inventory

July 10, 2017

WHITE PLAINS—The constricting supply of housing in the lower Hudson region served by the Hudson Gateway Multiple Listing Service, Inc. has brought about some long-expected price increases in most areas and in most property types, according to the “2017 Second Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland and Orange Counties, New York”…

Read More

Westchester Gives Lyft and Uber a ‘Thumbs Up’

July 6, 2017

WHITE PLAINS—After negotiating a deal that mandates creating a voluntary fingerprint program for drivers, Westchester County allowed ride-sharing services such as Lyft and Uber to launch operations there. Gov. Cuomo signed legislation that allowed Lyft and Uber and other ride sharing services to begin upstate and on Long Island on June 29th. The legislation did…

Read More

U.S. Coast Guard Suspends Hudson River Anchorage Plan

June 29, 2017

NEW YORK—Federal, state and county officials praised the recent U.S. Coast Guard’s decision to suspend a proposed new rule expanding anchorages on the Hudson River. On Wednesday (June 28th) U.S. Coast Guard Rear Adm. Steven Poulin, Commander of the First Coast Guard District, reported that after reviewing more than 10,200 comments from stakeholders, the Coast…

Read More

Nearly $1.6 Billion Energy Project Breaks Ground in Dutchess County

June 28, 2017

DOVER, NY—A massive energy project, which began its approval process nearly eight years ago, finally broke ground on Wednesday, June 28th on a 193-acre parcel of land on Route 22 here. Described as one of Dutchess County’s largest infrastructure projects in its history, Cricket Valley Energy, an affiliate of Advanced Power Services Inc. of Boston,…

Read More

No Reason to Panic, Yet!

June 28, 2017

WASHINGTON—The National Association of Realtors Pending Home Sales Index fell for the third straight month in May, but Joseph Kirchner, Ph.D., chief economist for Realtor.com, says Realtors don’t need to press the panic button, at least not yet. The Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 0.8% to 108.5 in…

Read More

Brooklyn Grocer to Open New Store in Dobbs Ferry

June 28, 2017

DOBBS FERRY, NY—Grocer Brooklyn Market is coming to Westchester County. The specialty retailer has filed for building permits and plans to open a new location at the new Rivertowns Square development off the Saw Mill River Parkway in Dobbs Ferry. The Williamsburg, Brooklyn-based retailer plans to open a new 18,000-square-foot store at the Rivertowns Square…

Read More

Developer Pinpoints Westchester’s Challenges and Opportunities

June 22, 2017

WHITE PLAINS—Seth Pinsky, executive vice president with RXR Realty, which is building major multifamily projects in New Rochelle and Yonkers, believes that Westchester County is at a crossroads where it can either take advantage or miss out on the current investment climate. Pinsky, who was the guest speaker at the Hudson Gateway Association of Realtors’…

Read More

U.S. Existing-Home Sales Rise in May; NY Home Sales Set New Record

June 21, 2017

WASHINGTON— Existing U.S. home sales rebounded in May following a notable 2.3% decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low, according to a report released on June 21 by the…

Read More

Realtors Score Legislative Victory as State Legislature Passes NY First Home Bill

June 21, 2017

ALBANY—The New York State Assembly and Senate passed the top legislative item on the Realtor agenda this legislative session—the First-Time Homebuyer Savings Account. The Assembly passed the measure on June 19th by a 142-1 vote with the only negative vote by Westchester County State Assembly Member Sandy Galef. The measure passed the Senate the same…

Read More

Ginsburg Development Begins New Peekskill Rental Project

June 15, 2017

PEEKSKILL—Ginsburg Development Companies, joined with City of Peekskill and Westchester County officials on June 13 in breaking ground on a $64.5-million mixed-use project that will transform the former St. Mary’s convent property into a resort-style tourist destination. The new development will include luxury rentals apartments as well as a spa, hotel and restaurant. Called “Fort…

Read More

New $30M ‘Millennia’ Breaks Ground in New Rochelle

June 15, 2017

NEW ROCHELLE— Political, civic and business officials from the City of New Rochelle were on hand for Monday’s groundbreaking for a new residential project whose name all but gives away its target market—the “Millennia.” New Rochelle Mayor Noam Bramson, along with officials from the New Rochelle Industrial Development Agency, the Community Preservation Corporation, and Tompkins…

Read More

Bricks and Mortar Retail—Not Dead, but Challenged

June 1, 2017

WHITE PLAINS—Reports of the demise of bricks and mortar retail are premature, so says a panel of retail executives that appeared at the June 1st meeting of the Hudson Gateway Association of Realtors’ Commercial Investment Division. The panel participants also agreed that while bricks and mortar retail faces many challenges today and in the future,…

Read More

NAR’s Yun Says High Foot Traffic Not Translating to More Sales

June 1, 2017

WASHINGTON—Declining for-sale home inventory may finally be catching up with the nation’s residential sales market. The National Association of Realtors reports that pending home sales in April fell for the second consecutive month. NAR in a report released on May 31st, stated that its Pending Home Sales Index fell 1.3% to 109.8 in April from…

Read More