WHITE PLAINS—After failing to secure the office tower properties more than a decade ago, Ivy Realty of Greenwich, CT has recently acquired the 725,000-square-foot White Plains Plaza office complex here in a distressed sale. White Plains Plaza consists of two 15-story office buildings at One North Broadway and 445 Hamilton Ave. that adjoin Ivy’s 275…
Read MorePEARL RIVER, NY—Progress is being made on the sale of one of the two pharmaceutical corporate campuses on the market in Rockland County. While a sale could close by late summer on a portion of the Pfizer complex in Pearl River in a sale and partial leaseback transaction, little progress has been made to find…
Read MoreALBANY—About 40 members of the Hudson Gateway Association of Realtors traveled to Albany by bus or car on June 9 to lobby state legislators on key legislation impacting the real estate industry. The legislative session was marred by the recent indictments of two of the most powerful state politicians—Assembly Speaker Sheldon Silver and State Senate…
Read MoreWHITE PLAINS—LCOR Inc., the developer of the proposed mixed-use 55 Bank St. project near the White Plains train station, said recently that the Berwyn, PA-based firm hopes to break ground in May on the $250-million venture. James Driscoll, senior vice president of LCOR, said that financing was being finalized for the project that will feature…
Read MoreWHITE PLAINS—In what appears to be an escalating battle between the court appointed Housing Monitor James Johnson and the Astorino administration, Johnson has charged that the county is in violation and in possible contempt of the terms of the 2009 federal fair housing case settlement. If found in contempt, the county could be subject…
Read MoreWHITE PLAINS—Urstadt Biddle Properties Inc. of Greenwich, CT, the owner of the Westchester Pavilion shopping center here, has confirmed that it has signed a contract to sell the property to a subsidiary of homebuilder Lennar Corp. of Miami. The deal, first reported in the March edition of Real Estate In-Depth, will facilitate the redevelopment of…
Read MoreWHITE PLAINS—For the second year in a row, a harsh winter that featured significant snow, extreme cold and on many days biting winds kept many prospective homebuyers bundled up next to the fireplace and away from Realtor Open Houses. Despite the long winter of 2014-2015, homes sales in the four-county region of the Hudson Gateway…
Read MoreNEWBURGH—A car dealer that had planned to build a $10-million Cadillac dealership here has reportedly scrapped the project in reaction to criticism raised by Orange County Executive Steve Neuhaus and the Town of Newburgh over incentives granted to the project by the Orange County Industrial Development Agency. The Orange County IDA reported on March 17…
Read MoreWHITE PLAINS—White Plains Hospital, which has been expanding its growing operations on the small footprint of its White Plains campus, has signed a major lease deal just outside the campus at an office building slated for redevelopment. White Plains Hospital has leased the entire 50,000-square-foot 101 East Post Road office building, which at one time…
Read MoreWHITE PLAINS—The Westchester Pavilion shopping center, the current headquarters of the Hudson Gateway Association of Realtors, is under contract to be sold by Urstadt Biddle Properties Inc. to Lennar Multifamily Communities, LLC of Herndon, VA. Lennar, a subsidiary of Miami-based Lennar Corp., is proposing to demolish the 185,000-square-foot shopping center to make way for a…
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