News

U.S. Existing Home Sales Fell Nearly 6% in July; Northeast Sales Down 7.5%

August 18, 2022

WASHINGTON—Existing-home sales fell for the sixth straight month in July, the National Association of Realtors reported on Aug. 18. All four major U.S. regions recorded month-over-month and year-over-year sales declines. A highlight of the report was NAR Chief Economist Lawrence Yun’s assessment of a “housing recession” in several segments of the residential market in the…

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Rockland County Multifamily Portfolio Trades in 1031 Deal for $19.2 Million

August 15, 2022

PEARL RIVER—In a deal recently announced by New Jersey-based brokerage firm The Kislak Company, Inc. a three-property multifamily portfolio in Nanuet and Pearl River in Rockland County has traded for $19.2 million. The portfolio includes Buckingham Gardens with 64 units at 249 North Middletown Road in Nanuet, Henry Street Apartments with 18 units at 31-33…

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Developer, City of White Plains Cut Ribbon on The Overture at Brookfield Commons

August 15, 2022

WHITE PLAINS, NY – Trinity Financial joined White Plains Mayor Thomas Roach and the White Plains Housing Authority on July 21 to celebrate the official ribbon cutting for The Overture at Brookfield Commons—which represents the second phase of redevelopment of the former city public housing project Winbrook Houses. The Overture at Brookfield Commons consists of…

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Higher Rates Causing Investors to ‘Pull Back Big Time’ on New Deals

August 15, 2022

NEW YORK—The Federal Reserve Board’s campaign to slow down the economy via rate hikes has accomplished its mission in most segments of the real estate market, according to a panel of real estate, finance and economic leaders assembled by the Fordham Real Estate Institute. While they don’t see many investors “hitting the panic button” they…

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Mid Hudson Politicos Blast MTA’s Congestion Pricing Plan

August 11, 2022

NANUET—A group of Rockland County politicians, including County Executive Ed Day, slammed the controversial Congestion Pricing Plan released by the MTA and other transit agencies yesterday. At a press conference staged at the Nanuet train station on Wednesday, Day, State Assemblyman Michael Lawler, MTA Board Member Frank Borelli and 38th State Senate District Candidate Bill…

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Westchester Launches $10M Landlord-Tenant Assistance Program

August 9, 2022

WHITE PLAINS—Westchester County Executive George Latimer announced on Aug. 9 the county had established a $10-million fund for small landlords to make repairs on their apartments with the proviso that they maintain affordable rent levels at their properties. The Landlord Tenant Assistance Program will allow small landlords who own eight units or less, who maintain…

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In Memoriam: Allan Eisenkraft

August 9, 2022

The Hudson Gateway Association of Realtors regrets to inform its membership of the passing of longtime Westchester commercial real estate owner and developer Allan Eisenkraft on Aug. 5, 2022, at the age of 86 in Ridgewood, NJ. Eisenkraft was a longtime member of the association’s Commercial Investment Division and was a staple at CID meetings…

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Howard Hanna | Rand Realty Opens New Office in East Hanover, NJ

August 8, 2022

EAST HANOVER, NJ—Howard Hanna | Rand Realty has announced the opening of its newest office in East Hanover, NJ, located at 460 Ridgedale Ave. Howard Hanna | Rand Realty already has a solid in-town presence, with highly skilled agents who are local experts, including The Kirkwood Group and The Palianto Team. Both teams are already…

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Brown Harris Stevens Opens Rhinebeck Office

August 8, 2022

RHINEBECK—Residential brokerage firm Brown Harris Stevens announced on Aug. 2 the official opening of its new Rhinebeck office at 18 Garden St. with a launch party. Those in attendance included Brown Harris Stevens CEO Bess Freedman, Rhinebeck Executive Director of Sales Lisa Fountain, Chief Operating Officer Doug Williford, Hudson Executive Director of Sales Nancy Felcetto,…

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Orange County’s Green Team Affiliates With Better Homes and Gardens RE

August 8, 2022

WARWICK—Better Homes and Gardens Real Estate LLC recently announced the affiliation with the Green Team in Warwick, which expands the brand’s service area in the Hudson Valley and Sussex County, N.J. The firm, which now operates as Better Homes and Gardens Real Estate Green Team, is led by second-generation broker Geoff Green and president, Vikki…

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Medline Officially Opens New Nearly 1.4-Million-Square-Foot Distribution Center

August 2, 2022

MONTGOMERY—A host of state, county and local officials joined Medline executives on Monday for the official opening of its nearly 1.4 million-square-foot distribution center here. The facility, the largest building in Orange County, according to Orange County Partnership President and CEO Maureen Halahan, cost more than $120 million to build. The new Medline property handles…

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Ginsburg Hires RM Friedland to Market Office Space at City Square

August 1, 2022

HARRISON—With the multimillion-dollar renovation of City Square at 50 Main St./1-11 Martine Ave. in Downtown White Plains, New York now complete, owner Ginsburg Development Company has awarded locally-based RM Friedland the exclusive office leasing assignment for the relaunch of its signature property consisting of 360,000 square feet of office space. RMF’s Office Managing Director, Chris…

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Construction Starts on $189-Million Affordable Housing Project in the Bronx

July 28, 2022

NEW YORK—New York Gov. Kathy Hochul and New York City Mayor Eric Adams were among the dignitaries on hand for the July 27th groundbreaking on a $189-million affordable housing development in the Morris Heights section of the Bronx. Starhill Phase I will feature 326 affordable apartments, including 200 homes with supportive services for individuals experiencing…

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Northeast New Home Sales Plunge 12.1% in June

July 27, 2022

WASHINGTON—New home sales in June fell to the lowest level since April 2020, reflecting declining builder sentiment as construction bottlenecks continue to slow new home building and raise housing costs, the National Association of Home Builders reported on July 26. Sales of newly built, single-family homes in June fell 8.1% to a 590,000 seasonally adjusted…

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