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Exclusive: Rockland County Amends Co-op Law to Require Co-Op Boards Explain Reasons for Applicant’s Denial

March 4, 2022

NANUET—Rockland County Executive Ed Day signed on March 3 a bill amending the county’s existing cooperative application decision law to require co-op boards to disclose the reason or reasons for a denial of a prospective buyer’s application. After a public hearing, the Rockland County Legislature passed the amendment to the “Timely Co-Op Application Decision Law”…

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Work Could Begin on Regeneron Pharmaceutical’s $1.4 Billion Expansion Project This Spring

February 28, 2022

WHITE PLAINS—Regeneron Pharmaceuticals, Inc. believes work could begin as early as this April on its $1.394-billion “Loop Road” expansion project in the Town of Greenburgh if the company secures necessary incentives from the Westchester County Industrial Development Agency and other sources totaling approximately $172.9 million and another $100 million in other public incentives. The Tarrytown-based company’s…

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Five Questions With NYSAR President Jennifer Vucetic

February 23, 2022

The recently installed 2022 President of the New York State Association of Realtors Jennifer Vucetic AHWD, CIPS, GREEN, MRP, SFR, PMN, CBR, ITI, C2EX, EPRO, takes the helm of the organization at a time of drastic change with COVID infections on the decline throughout the state, but the specter of rising interest rates and low…

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U.S. Homeownership Rate Experiences Largest Annual Increase on Record

February 23, 2022

WASHINGTON—The U.S. homeownership rate climbed to 65.5% in 2020, up 1.3% from 2019 and the largest annual increase on record. More Americans are likely to own a home now than during any year following the Great Recession (65.4% homeownership rate in 2010); however, Black Americans continue to face significant obstacles along the path to homeownership,…

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Commercial Brokers See Many Opportunities in Post-COVID Market

February 23, 2022

WHITE PLAINS—A panel of commercial real estate brokers from the New York City/Hudson Valley market that were part of a recent virtual panel hosted by the Hudson Gateway Association of Realtors were upbeat about many sectors in 2022, particularly the industrial, flex, health care and medical office segments. The region’s office market remains troubled as…

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Experts Bullish on Continued Manhattan, NYC Metro Housing Recovery

February 23, 2022

WHITE PLAINS—A panel of real estate executives agreed that the exodus from Manhattan due to COVID-19 is over and that the recovery in the Manhattan luxury housing market has gained momentum that will continue this year. In addition, the recovery, fueled by a roaring stock market, low interest rates and rapidly declining COVID infection rates,…

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New York Investment Firm Acquires White Plains Plaza for $105 Million

February 17, 2022

WHITE PLAINS—Argent Ventures, a privately held New York City-based investment firm, has acquired the twin-tower White Plains Plaza office property here from Ivy Realty of Greenwich, CT and DW Capital of New York City for $105 million. The deal represents the largest single asset office sale in Westchester County since 2010. The purchase expands Argent’s…

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Orange County Re-Issues RFP for Sale of Camp LaGuardia Property

February 15, 2022

GOSHEN—“If at first you don’t succeed, try, try again.” After a Request for Proposals in 2020 to sell the more than 258-acre Camp LaGuardia property that is located in the villages of Chester and Blooming Grove failed to find a viable buyer, Orange County says it has put the property once again on the market…

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Record-High Prices, Low Inventory Make It Increasingly Difficult for Black Americans to Achieve Home Ownership

February 7, 2022

WASHINGTON—The surging residential real estate market of the last two years led to record-high home prices and record-low inventory. This simultaneous "double trouble" has made it increasingly difficult for consumers, particularly Black Americans, to achieve homeownership, according to a new analysis released on Feb. 7 by the National Association of Realtors and Realtor.com. “The Double…

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Howard Hanna | Rand Realty Expands into Fairfield County, CT Market

February 1, 2022

NANUET—Howard Hanna | Rand Realty announced on Feb. 1 its expansion into the Fairfield County, CT market with the recent acquisition of the Madison and Post Real Estate Agency. The transaction will expand the footprint of Howard Hanna | Rand Realty with three new locations in Ridgefield, Stamford and Westport, CT. “Fairfield County is one…

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Realtors Expect Continued Strong Housing Market in 2022

January 20, 2022

WHITE PLAINS—After residential sales volume in the Hudson Gateway Association of Realtors’ market area reached historically high levels in 2021, brokers expect continued strong sales activity this year, although not at the feverish pace the industry enjoyed in the midst of the COVID-19 pandemic. To say there are headwinds facing Realtors and consumers in 2022…

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A Conversation with Orange County IDA Executive Director Bill Fioravanti

January 20, 2022

The embattled Orange County Industrial Development Agency is in the midst of implementing reforms in response to a corruption scandal that rocked the agency and the county’s business community last year with guilty pleas by two of its chief administrative officers and a member of its Board of Directors. Shortly after the three individuals— Orange…

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Gov. Hochul Calls for Environmental Study of Future Conversion of Route 17 to I-86

January 13, 2022

ALBANY—The prospect of major upgrades—including the construction of what business and government leaders say is a much-needed third lane on portions of Route 17 in Orange and Sullivan counties—just got a step closer. Although not included in her State of the State speech on Jan, 5, accompanying material given to state lawmakers included a directive…

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Great Point Studios Opens Lionsgate Studios; Announces $500M Expansion in Yonkers

January 12, 2022

YONKERS—Great Point Studios officially opened the doors to its long-awaited Lionsgate Studios Yonkers on Jan. 11 at 45 Wells Ave. and announced that it will move forward with a more than $500-million expansion plan nearby. The expansion project announced by Great Point Studios Founder and CEO Robert Halmi calls for a 1-million-square-foot facility that will…

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Slowing Fourth Quarter Sales Did Not Derail Record 2021 Housing Market

January 4, 2022

WHITE PLAINS—Residential sales in 2021 in the counties served by OneKey MLS, Inc. reached a historic peak. This, despite a slowing of sales in the fourth quarter in all areas served by OneKey MLS with the exception of Bronx County. Arguably, some of the slowdown can be attributed to the dearth of inventory in the…

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Existing U.S. Home Sales Rose 1.9% in November; Northeast Sales Flat Compared to October Volume

December 27, 2021

WASHINGTON—Existing U.S. home sales rose in November, denoting three consecutive months of increases, according to the National Association of Realtors. Three of the four major U.S. regions reported growth in monthly sales, while the fourth region—the Northeast—held steady in November. From a year-over-year perspective, only one region experienced a rise in sales as the three…

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Gov. Hochul Signs Bill Package to Combat Housing Discrimination in Response to Newsday’s Expose

December 22, 2021

ALBANY—New York Gov. Kathy Hochul signed a legislative package on Dec. 21 totaling nine bills geared at combating housing discrimination and addressing issues raised in a Newsday expose entitled “Long Island Divided.” The centerpiece of the legislation is the Anti-Discrimination in Housing Fund that will permit the state to conduct fair housing testing. Other initiatives…

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NAR Predicts Higher Home Sales, Prices and Rates in 2022

December 16, 2021

WASHINGTON—As part of the National Association of Realtors’ Real Estate Forecast Summit held on Dec. 15, real estate economists and experts predict a continued strong market, marginal improvement in the nation’s for-sale inventory crisis and higher interest rates. The virtual program began with an opening address by 2022 NAR President Leslie Rouda Smith, followed by…

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Realtors Expect Robust, Not Supercharged Housing Market in 2022

December 16, 2021

NEWBURGH—The consensus from a panel of veteran New York Realtors is that while some headwinds exist for the housing market in 2022, conditions are favorable for continued strong sales and rising prices. One panelist said that despite a slowdown in sales, “there is still a lot of meat on the bone” in the current strong…

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