TARRYTOWN—At a topping off ceremony for the new span’s eight towers, state officials announced that the new Tappan Zee Bridge (also known as the New NY Bridge) will open for traffic in 2018 and will be completed on budget at $3.98 billion. A host of political, business and construction trade officials gathered at the project…
Read MoreLegoland Project Awarded $3 Million ALBANY—The Mid-Hudson Valley region came out the big winner in this year’s Consolidated Funding Awards, netting $83.3 million in state aid that will support 105 economic development/infrastructure projects in the seven-county region. In an announcement on Dec. 9, Gov. Andrew Cuomo awarded a total of $716.9 million in CFA funding…
Read MoreAstorino Welcomes Carson as HUD Secretary WHITE PLAINS—In an exclusive interview, Westchester County Executive Robert Astorino told Real Estate In-Depth that the county fully expects to meet its court-mandate to have 750 affordable housing units either built or approved by the end of this month. County Executive Astorino also said that the election of Republication…
Read MoreWASHINGTON—Suburban housing markets across the United States are evolving rapidly and overall remain well-positioned to maintain their relevance in the years ahead as the places where most Americans live and work, even as many urban cores and downtown neighborhoods continue to attract new residents and businesses, according to a new publication from the Urban Land…
Read MoreNEW ROCHELLE—A groundbreaking was staged at the long-shuttered Loew’s Theater in New Rochelle on Nov. 30 for a much-anticipated $120-million mixed-use high-rise tower. However, while definitely cause for celebration, city officials and the developer say the event was just the first of what they expect will be a host of new commercial developments that will…
Read MoreMany business organizations—including the Hudson Gateway Association of Realtors (HGAR) and the Business Council of Westchester—have come out in strong opposition to the U.S. Coast Guard’s consideration of regulations that would allow the establishment of new anchorage grounds in the Hudson River. Under the proposal, 10 additional anchorages with space for up to 43 vessels…
Read MoreALBANY—Home sales in October posted strong gains both in New York State and nationally. The New York State Association of Realtors reported on Nov. 22 that home sales in the Empire State reached the second highest October monthly total on record. Home sales in the Empire State dipped slightly from one year ago, but still…
Read MoreWASHINGTON—While real estate mogul Donald Trump was anything but predictable during his campaign for the White House, his upset victory over former Secretary of State Hillary Clinton will no doubt bring changes to the financial and housing markets in both the short and long-term. Although some of President-elect Trump’s policies are still unclear, real estate…
Read MoreAfter spending more than 30 years in real estate, Gary Leogrande, broker for Keller Williams New York Realty in White Plains, was still quite surprised to be named the 2016 HGAR “Realtor of the Year” at Member Appreciation Day last month. “Sometimes over the years, I’d be sitting in the audience and thinking, ‘well maybe…
Read MoreWHITE PLAINS—Westchester County Executive Robert Astorino has proposed a plan to implement a public-private partnership (P3) whereby Oaktree Capital Management, L.P. would manage operations at Westchester County Airport under a 40-year-lease deal. The long-term lease deal, if approved by the Westchester County Board of Legislators, would save taxpayers more than $140 million, improve the overall…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors reports that the National Association of Realtors has approved its proposed merger with the Manhattan Association of Realtors (MANAR). Richard Haggerty, CEO of the Hudson Gateway Association of Realtors, told Real Estate In-Depth that NAR approved the merger deal on Wednesday, Nov. 2. The merger, which becomes effective…
Read MoreKaren Mayo of Exit Realty in Elmsford and Gwen Weiss-Numeroff of Keller Williams Hudson Valley Realty in New City have more in common than just selling real estate—they have both authored books about staying healthy and living a long life. A Realtor since 2013, Mayo worked in banking and mortgage financing with firms like Wells…
Read MoreA Conversation with County Executive MaryEllen Odell CARMEL—Putnam County’s continued push to foster economic development and tourism continued in 2016 with a host of ambitious initiatives, including the continued improvements at the county-owned Putnam County Golf Course, the redevelopment of the storied Tilly Foster Farm and an initiative with the City of Danbury that could…
Read MoreWHITE PLAINS—Chief officials of the Westchester County Association and the mayors of the cities of Mount Vernon, New Rochelle, White Plains and Yonkers announced on Oct. 6 that they have signed a “Smart Cities ComPact” to embrace smart growth initiatives. Tops on their agenda is bringing “Gigabit” broadband to Westchester County. The initiative, estimated to…
Read MoreNEWBURGH—U.S. Rep. Sean Patrick Maloney has submitted new federal legislation that would halt current, and any future United States Coast Guard proposal to expand mooring infrastructure on the Hudson River between Kingston and Yonkers. The U.S. Coast Guard is considering the adoption of a new rule that would establish new anchorage grounds for commercial vessels…
Read MoreWASHINGTON—Single-family home construction is currently lacking in 80 percent of measured metro areas despite steady job creation and the low activity is creating a housing shortage crisis that is curtailing affordability and threatening to hold back prospective buyers in many of the largest cities in the country, according to new research from the National Association…
Read MoreA Legal and Business Perspective In the 2011 film Moneyball, Brad Pitt’s character, Oakland Athletics General Manager Billy Beane, opines at the end of a nearly triumphant season, “How can you not be romantic about baseball?” Similarly, real estate agents and brokers may ask themselves a similar question about buying and selling homes. The…
Read MoreAs reported in HGAR’s 2016 second quarter residential real estate sales report, the Hudson Valley continues to experience increased sales volume. This long awaited market condition has produced a five-year high of second quarter sales reaching an overall 23% increase in closings over the same period in 2015. Putnam County, at 32%, had the largest…
Read MoreFirst, a disclaimer, I am blatantly biased as I write this month’s article. I have been a huge fan of HGAR’s Legal Counsel Edward I. Sumber for more than three decades. In my opinion Ed has been one of the most effective and knowledgeable association legal counsels in the country, and he has earned the…
Read MorePresident Obama has signed Condo legislation that was approved by both houses of the Congress, into law. This is a big victory for Realtors as well as for future buyers as purchasing a condo is often a more affordable housing option. The new law mitigates current FHA regulations surrounding existing condominium projects, including streamlining project…
Read More