News

California Firm Pays $113 Million for White Plains Apartment Building

October 3, 2022

WHITE PLAINS—The Friedkin Property Group of San Francisco has acquired the 260-unit Windsor at The Gramercy apartment property in White Plains for $113 million. The sale transaction for the property at 2 Canfield Ave., was brokered by CBRE, which represented the seller—national real estate investment management firm GID—in the deal. CBRE also procured the buyer.…

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Houston-Based Firm Acquires White Plains Office Building

October 3, 2022

WHITE PLAINS—Commercial brokerage firm CBRE reports it has recently brokered the sale of 1311 Mamaroneck Ave., a more than 320,000-square-foot office property in White Plains. The property, which totals 323,431 square feet of office space was acquired by Interra Capital Group of Houston. The property is currently 53% leased. The CBRE Institutional Properties team of…

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Yonkers IDA Takes Actions on Projects Valued at More Than $182 Million

September 28, 2022

YONKERS—The Yonkers Industrial Development Agency reported that it recently voted to grant preliminary and final approvals of financial incentives for new residential and commercial projects representing a total private investment of $182.2 million, The developments are projected to create more than 600 construction jobs and over 300 apartments including affordable housing for low-income seniors. “These…

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NAR: Pending U.S. Home Sales Fall for Third Straight Month in August

September 28, 2022

WASHINGTON—Pending home sales sagged for the third straight month in August, the National Association of Realtors reported today. Three out of four major regions experienced month-over-month decreases in transactions, however, the West saw a modest gain. Year-over-year, all four regions posted double-digit declines. The national Pending Home Sales Index (PHSI) fell 2.0% to 88.4 in…

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Orange County Partnership’s Site Inventory Program Seeks to Take Advantage of Key Growth Industries

September 22, 2022

In a highly informative session of The Alliance for Balanced Growth, officials with the Orange County Partnership and the Orange County Industrial Development Agency provided updates on the Orange County Partnership’s Site Inventory Program (SIP) and the IDA’s Shovel Ready Program, key initiatives geared at sustaining the impressive growth the county has achieved in spite…

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NAR: U.S. Existing-Home Sales Slipped 0.4% in August; Northeast Home Sales Grew 1.6%

September 21, 2022

WASHINGTON—Existing-U.S. home sales experienced a slight dip in August, marking the seventh consecutive month of declines, according to a report released today by the National Association of Realtors. Month-over-month sales varied across the four major U.S. regions as two regions recorded increases, one was unchanged and the other posted a drop. On a year-over-year basis,…

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Haggerty to Leave HGAR at Year's End To Take Over Leadership of OneKey MLS

September 20, 2022

WHITE PLAINS—Richard Haggerty, who has been serving the Hudson Gateway Association of Realtors and its predecessor organizations for nearly four decades, informed the HGAR Board of Directors earlier this month that he will be leaving the organization at the end of this year to take over as Chief Executive Officer of its subsidiary organization, OneKey…

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Closed Median Home Sale Price in NY Metro Region Holds Steady in August

September 20, 2022

WEST BABYLON—For August 2022, OneKey MLS reported on Sept. 20 a regional closed median sale price of $621,500, representing a 0.20% increase over the reported $620,000 in July 2022. Between July and August 2022, closed regional sales transactions, including residential, condo, and co-op sales, in the region covering Montauk to Manhattan, north through the Hudson…

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Orange County Leads New York State in Growth of Visitor Spending

September 19, 2022

GOSHEN—Orange County is on top of the tourism market according to a new report that indicates a 63.4% growth in visitor spending in 2021. Surpassing the Hudson Valley and New York State percentage increases as a whole, visitor spending increased 49.5% throughout the Hudson Valley and 53.4% statewide. The international research firm Tourism Economics, an…

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Orange County to host Economic Summit on September 30th

September 19, 2022

MIDDLETOWN—Orange County Executive Steven Neuhaus has announced that the county will be holding its first-ever Economic Summit on Friday, Sept. 30th at SUNY Orange in Middletown. The theme of the 2022 Orange County Economic Summit that will run from 8:30 a.m. to 12:30 p.m. will be “Positive Growth and Infrastructure: Progress Today and Planning Tomorrow.”…

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Rand Commercial’s Adler Honored by Legal Services of the Hudson Valley

September 16, 2022

RYE—The Legal Services of the Hudson Valley held its annual Equal Access to Justice Gala on Sept. 14 that honored New York Gov. Kathy Hochul with the Champion of Justice Award, Paul Adler, Chief Strategy Officer, Rand Commercial, and Jonathan C. Harris, General Counsel and Secretary, MBIA Inc, who each received the Access to Justice…

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EPA: General Electric Co. to Study Lower Hudson River Contamination

September 14, 2022

ALBANY—Under a legal agreement with the U.S. Environmental Protection Agency announced on Sept. 13, General Electric Co. has agreed to investigate the Lower River portion of the Hudson River PCBs Superfund site to determine next steps for addressing contamination. Under the terms of the legal administrative agreement, GE will immediately develop a plan for extensive…

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MBA: Rising Rates Cause Mortgage Applications to Continue to Fall

September 14, 2022

With inflation still high, mortgage application activity fell 1.2% for the week ended Sept. 9 as compared to a week earlier, according to data from the Mortgage Bankers Association. Mortgage activity is expected to continue to be adversely impacted by economic conditions and the likelihood that the Federal Reserve will hike rates by another 0.75%…

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Condo Project at Edge-on-Hudson Property Secures $142M Financing Package

September 8, 2022

SLEEPY HOLLOW—The condominium project called “The Daymark” to be built at the Edge on Hudson property—the site of a former General Motors assembly plant—has secured $142 million in financing. Lionheart Strategic Management LLC, an affiliate of Fisher Brothers that manages capital on behalf of third-party investors, announced on Sept. 7 that it will provide a…

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Mortgage Applications Continue to Decline; Rates Rise to Nearly 6%

September 7, 2022

WASHINGTON—Mortgage applications decreased 0.8% last week from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Sept. 2, 2022, the MBA announced on Sept. 7. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 5.94% last week. The…

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Orange County to Host First Economic Summit on September 30

August 31, 2022

GOSHEN—Orange County Executive Steven Neuhaus has announced that the county will be holding an Economic Summit on Friday, Sept. 30th at SUNY Orange in Middletown. The theme of the 2022 Orange County Economic Summit will be “Positive Growth and Infrastructure: Progress Today and Planning Tomorrow.” The Economic Summit will bring together key stakeholders, including elected…

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