News

Camber Property Group Acquires Two Bronx Rental Properties for Nearly $57 Million

January 25, 2023

NEW YORK—Camber Property Group announced on Jan. 24 it had closed on two 100% affordable properties in The Bronx, preserving and extending affordability for 187 units in transactions valued at a total of $56.4 million. In early January 2023, Manhattan-based Camber closed on the purchase of Morris Heights Mews, a three building, 111-unit, 100% Project…

Read More

Douglas Elliman Names Todd Bourgard CEO Of Long Island, Hamptons and North Fork

January 24, 2023

NEW YORK—Residential brokerage firm Douglas Elliman Realty has announced it has promoted its Senior Executive Regional Manager of Sales for Hamptons and North Fork Todd Bourgard to Chief Executive Officer of Long Island, Hamptons and North Fork, effective immediately. In his new role, Bourgard will oversee operations throughout the entire Long Island region, totaling 36…

Read More

Congressman Lawler Introduces Legislation To Eliminate SALT Cap Marriage Penalty

January 24, 2023

CLARKSTOWN—Newly installed U.S. Rep. Mike Lawler has followed up his recently introduced bill to prevent the implementation of congestion pricing in Manhattan with new bipartisan legislation that would eliminate the SALT Cap marriage penalty. At a press conference yesterday (Jan. 23), Republican U.S. Rep. Lawler (R-NY-17), along with Rockland County Executive Ed Day, Clarkstown Town…

Read More

U.S. Existing-Home Sales Receded 1.5% in December; Northeast Transactions Fell Nearly 2%

January 20, 2023

WASHINGTON—Existing-home sales retreated for the 11th consecutive month in December, the National Association of Realtors reported today. Three of the four major U.S. regions recorded month-over-month drops, while sales in the West were unchanged. All regions experienced year-over-year declines. Total existing-home sales decreased 1.5% from November to a seasonally adjusted annual rate of 4.02 million…

Read More

OneKey MLS: Regional Residential Closed Median Sale Price Falls Slightly; Sales Drop Nearly 8%

January 20, 2023

FARMINGDALE, NY—For December 2022, OneKey MLS reported today a regional closed median sale price of $570,000, representing a 0.90% decrease as compared to the reported $575,000 in November 2022. Between November and December 2022, closed regional sales transactions in the nine-county OneKey MLS region, including residential, condo, and co-op sales, decreased to 4,270 from 4,620,…

Read More

NYC-Hudson Valley Housing Markets Continue To Post Low Sales, Inventory, Higher Prices

January 19, 2023

WHITE PLAINS—The residential sales market in the Hudson Valley and New York City continues to transition from the COVID-19 pandemic-induced frenzied period where buyers flocked to take advantage of historically low interest rates. In 2022, high inflation and the Federal Reserve’s actions of hiking interest rates to tamp down the inflation rate that reached a…

Read More

NY State Begins Process to Approve Mega Downstate New York City Area Casinos

January 18, 2023

ALBANY—The prospect of downstate casinos in the New York metro area just got serious and those who seek these lucrative full-gaming licenses will have to possess very deep pockets that will fund at the least $1 billion in investment. The New York State Gaming Facility Location Board issued Request for Applications on Jan. 3 for…

Read More

GUEST COLUMN: 2023 The Year of Breakthrough

January 12, 2023

We are now in the first few weeks of the new year and if you are like most, you’re probably pumped up about starting your new year resolutions or taking the opportunity to reinstitute some good old habits that may have fallen by the wayside over time. Or… even still, you may be dreading coming…

Read More

Hudson Gateway Realtor Foundation Raises More Than $100,000 for Charity in 2022

January 11, 2023

WHITE PLAINS—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors reached its goal of $100,000 in fundraising for 2022, raising a total of $105,515. The funds will be used to provide 2023 donations to charities and non-profits throughout the Hudson Valley. In 2022, the foundation held its “Runway for…

Read More

Longtime NYSAR CEO Charles ‘Chuck’ Staro Passes Away

January 9, 2023

ALBANY—The New York State Association of Realtors announced today (Jan. 9) that longtime NYSAR CEO Charles M. “Chuck” Staro passed away on Jan. 5 at the age of 82. At the time of his passing, Staro was a resident of Estero, FL. Staro joined NYSAR in 1967 and served as NYSAR Chief Executive Officer for…

Read More

National Resources Acquires Leake & Watts Campus for Nearly $53 Million

January 6, 2023

YONKERS—Greenwich, CT-based National Resources has acquired the 28-acre Leake & Watts campus in Yonkers and the Bronx from Rising Ground for $52.6 million. The deal was announced by commercial brokerage firm OPEN Impact Real Estate. OPEN Impact Real Estate is a woman-owned brokerage firm that is an affiliate of Transwestern Real Estate Services. The OPEN…

Read More

Mortgage Bankers See Unsettled Markets Dissipating in 2023

January 5, 2023

WASHINGTON—Commercial and multifamily mortgage originators are experiencing an unsettled market for borrowing and lending but anticipate those conditions will slowly stabilize over the course of 2023, according to the Mortgage Bankers Association's 2023 Commercial Real Estate Finance Outlook Survey. The survey, which polled the leaders of the top commercial and multifamily mortgage finance firms for…

Read More

Report: Mixed Results for Luxury Home Sales in 2022 for Markets North of NYC

January 5, 2023

RYE BROOK—The luxury real estate market north of New York City ended 2022 with mixed results as luxury sales in Westchester, Putnam and Duchess counties were largely unchanged while Greenwich, Darien and New Canaan posted sharp declines, according to the Houlihan Lawrence Luxury Q4 Market Report released on Jan. 5. According to the report, Westchester…

Read More

Golf Simulator Retailer to Open Locations At Palisades Center and in Scarsdale

January 5, 2023

WEST NYACK—Golfzon, a golf simulator firm, and Troon, a leader in providing golf and club-related leisure and hospitality services, have partnered to launch Golfzon Social, a state-of-the-art indoor golf entertainment venue. The first two locations are set to open in early 2023 in Rockland and Westchester counties. Seeking to attract non-golfers, avid golfers, and casual…

Read More

Robert Martin Co. Completed 586,000 SF Of New Leases and Renewals in 2022

January 5, 2023

ELMSFORD—Robert Martin Company, one of the largest real estate management and development firms in Westchester County, announced recently it had secured approximately 586,000 square feet of new leases, renewals, and expansions at its properties in Westchester County for 2022. Company officials stated that the strong leasing activity reflected the ongoing strength of Robert Martin Company’s…

Read More

Newly Opened Gaming Facility Gives Troubled Newburgh Mall New Life

December 29, 2022

NEWBURGH—The opening of the Resorts World Hudson Valley video gaming machine (VGM) facility at the beleaguered Newburgh Mall in Orange County on Dec. 28 will bring hundreds of new full-time jobs and significant tax revenue for the area, but business leaders are hoping for so much more. Executives from Genting, which owns the casino, were…

Read More

NAR: U.S. Pending Home Sales Fell 4.0% in November; Northeast Pending Sales Dropped Nearly 8%

December 28, 2022

WASHINGTON—Pending home sales slid for the sixth consecutive month in November, according to the National Association of Realtors. All four U.S. regions recorded month-over-month decreases, and all four regions saw year-over-year declines in transactions. “Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest…

Read More

$1.2-Billion North80 Biotech Project Clears Key Zoning Hurdle

December 27, 2022

MOUNT PLEASANT—Recently, the Mount Pleasant Town Board unanimously approved the zoning for the 3.0-million-square-foot North80 science and technology center next to the Westchester Medical Center, New York Medical College, and near the expansive Regeneron Pharmaceuticals complex, which is currently undergoing a $1.8-billion expansion. The approval now sets the stage for the developer to formally submit…

Read More