News

Oklahoma Firm Acquires Storied Hotel on Broadway for Nearly $56 Million

November 23, 2021

NEW YORK—Burnett Equities of Oklahoma City, OK has acquired the 531-room landmark Martinique New York on Broadway for $55.5 million. The deal was reported by brokerage firm Marcus & Millichap, which represented the seller, Herald Square Associates. Marcus & Millichap said that the total development cost for the revitalization of the asset, located on the…

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U.S. Existing-Home Sales Inch Up 0.8% in October; Northeast Sales Declined by 2.6%

November 23, 2021

WASHINGTON—Existing-home sales increased in October, marking two straight months of growth, according to the National Association of Realtors. Two of the four major U.S. regions saw month-over-month sales climb, one region reported a drop and the fourth area held steady in October. On a year-over-year basis, each region witnessed sales decrease. Existing-home sales in the…

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City, County and State Officials Celebrate Completion of $53.5M Project in Yonkers

November 22, 2021

YONKERS—City of Yonkers, Westchester County and New York State officials joined with the Municipal Housing Authority for the City of Yonkers and The Community Builders recently to celebrate the completion of 172 Warburton at The Ridgeway, a new $53.5-million mixed-income residential community in Southwest Yonkers. 172 Warburton at The Ridgeway continues the strong partnership between…

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Bronx Realtor Anthony Domathoti Named 2022 HGAR President

November 18, 2021

TARRYTOWN—The Hudson Gateway Association of Realtors held its 105th Annual Member Appreciation Day and Annual Meeting on Monday, Oct. 25 at the Sleepy Hollow Hotel and Conference Center here that was highlighted by the acknowledgement of Realtor Anthony Domathoti of EXIT Realty Premium of the Bronx as the organization’s 2022 President. At its 105th Annual…

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NAR Announces New MLS Guidance That Reinforces Greater Transparency

November 16, 2021

CHICAGO—The National Association of Realtors announced on Nov. 15 the adoption of changes to its guidance for local Multiple Listing Service broker marketplaces that reinforce greater transparency for consumers. The changes ensure disclosure of compensation offered to buyer agents, ensure listings are not excluded from search results based on the amount of compensation offered to…

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100% Affordable Seniors Housing Development Breaks Ground in the Bronx

November 15, 2021

NEW YORK—The development team led by ELH Mgmt. LLC; The Kretchmer Companies; Xenolith Partners LLC and JASA, along with HPD; HDC; and NYCHA; celebrated the groundbreaking of a new senior housing development, Casa Celina on Oct. 19. Located on NYCHA’s Justice Sonia Sotomayor campus in the Soundview neighborhood of the Bronx, the 100% affordable project,…

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March of Dimes 34th Annual Real Estate Awards Breakfast Raises $1 Million

November 15, 2021

WHITE PLAINS—The March of Dimes Greater NY Market held the 34th Annual Real Estate Awards Breakfast on Nov. 4th at the Opus Westchester in White Plains. The event shattered its fundraising goal, raising more than $1 million to support the March of Dimes’ mission to improve the health of moms and babies. Two visionary commercial…

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HGAR Receives 2021 NAR Gold Global Achievement Award for Second Year in Row

November 15, 2021

NEW YORK—The Hudson Gateway Association of Realtors, for the second year in a row, has been honored with the Gold Global Achievement Award from the National Association of Realtors. This award acknowledges that HGAR’s Global Business Council has demonstrated a solid level of service to its global members throughout 2021. The HGAR Global Business Council…

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Arthur Avenue and Little Italy Offer a Taste of Old-Fashioned Family Traditions

November 15, 2021

The mere mention of Arthur Avenue in the Bronx can often conjure up images of piping hot pasta with home-made tomato sauce, fresh colorful produce, crispy warm breads or rows of cannoli’s, stuffed with gooey cream and chocolate chips. Now part of the Belmont Business Improvement District (BID), this world-famous culinary destination has been home…

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Douglas Elliman to File for Spinoff IPO

November 10, 2021

NEW YORK—Vector Group Ltd. announced on Nov. 8 that residential brokerage firm Douglas Elliman Inc. plans to file a Form 10 registration statement with the United States Securities and Exchange Commission in connection with its intended spin-off into a standalone, publicly traded company. The planned spinoff and IPO could take place as early as the…

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Rockland County Firm Pays $136 Million for Long Island Apartment Portfolio

November 4, 2021

SUFFERN—Locally-based Castle Lanterra Properties has acquired two Class A communities totaling 316-units in West Hempstead and Hempstead, NY for $136 million. The transaction was reported by JLL Capital Markets on Nov. 3. JLL marketed the properties on behalf of the seller. Castle Lanterra Properties, which is headquartered in Suffern, acquired the assets. The portfolio consists…

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$48 Million Supportive Housing Development in Bronx Completed

November 4, 2021

NEW YORK—New York Gov. Kathy Hochul announced on Nov. 3 the completion of a $47.9-million supportive and affordable housing complex in the Claremont Village section of the Bronx that will serve individuals experiencing chronic homelessness, including those with a serious mental illness, veterans with disabilities, and the elderly. Supported with $6.5 million through the Homeless…

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