News

Los Angeles-Based Brokerage Acquires NYC-Based Triplemint

May 4, 2022

NEW YORK—Los Angeles-based brokerage firm The Agency has acquired Triplemint, a technology-driven residential brokerage firm, which is headquartered in Manhattan. No financial details of the transaction were released. The Agency, in conjunction with the Triplemint deal, reported it has jointly raised $35 million in growth capital from strategic investors, further positioning the firm for strategic…

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Yonkers IDA Votes Preliminary Approval For $50M Mixed-Use Residential Building

May 3, 2022

YONKERS—The Yonkers Industrial Development Agency announced on May 2 it had granted preliminary approval of a $49.6 million, 10-story mixed-use residential building on Main Street and Riverdale Avenue. The project will feature 76 affordable rental dwelling units and ground floor commercial space. Called St. Clair Residences, the project is located on vacant parcels at 36-38…

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NAR: First Quarter of 2022 Brings Double-Digit Price Appreciation for 70% of Metros

May 3, 2022

WASHINGTON—The first quarter of 2022 saw more markets reach double-digit annual price gains than the previous quarter, according to the National Association of Realtors' latest quarterly report released on May 3. Seventy percent of 185 measured metros experienced such price gains, up from 66% in the preceding quarter. These increases come as median single-family existing-home…

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Elmsford-Based Firm Acquires New Haven, CT Multifamily

April 28, 2022

NEW HAVEN, CT—An affiliate of Paredim Partners LLC, which is headquartered in Elmsford, has acquired The Taft Apartments, a landmark apartment and commercial property in New Haven, CT. Situated across from Yale's Old Campus and the historic New Haven Green, this landmark 14-story building contains 194 studio, one and two-bedroom homes with commanding views of…

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Northeast Pending Home Sales Rose 4% in March

April 28, 2022

WASHINGTON—While U.S. pending home sales fell for the fifth consecutive month in March, pending sales in the Northeast bucked that trend. The other three other major U.S. regions experienced declines in transactions and all four regions reported decreases in year-over-year contract activity. The Pending Home Sales Index, a forward-looking indicator of home sales based on…

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City of Newburgh Issues Two Request for Proposals To Redevelop a Host of City-Owned Properties

April 27, 2022

NEWBURGH—The City of Newburgh has recently issued two Request for Proposals (RFPs) that represent what it terms are “exciting and unique development opportunities” for several city-owned properties, including City Hall. The first, RFP #11.22, seeks proposals for the creative redevelopment of numerous city-owned properties—both existing buildings and vacant parcels—that the city hopes will result in…

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More Buyers Looking for the ‘Green’

April 27, 2022

WASHINGTON—The number of Realtors involved with buying or selling a property with green features has significantly increased in the past year, according to a study released on April 26 by the National Association of Realtors. The “2022 Realtors and Sustainability Report” surveyed NAR members nationwide regarding sustainability issues currently facing the real estate industry. Half…

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Berkshire Hathaway HomeServices NY Properties Appoints Steve James as New President and CEO, Brad Loe as EVP

April 26, 2022

NEW YORK--Berkshire Hathaway HomeServices New York Properties announced on April 25 the addition Steven James as its president and chief executive officer and Brad Loe as its executive vice president, director of sales as the company commences a significant brand expansion across the New York City residential brokerage market. The newly expanded New York City-based…

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Realtors Predict Higher Rates Will Lead to Slower Sales, Not Collapse

April 21, 2022

WHITE PLAINS—Realtors believe that the lower home sales numbers registered in the first quarter of this year were due primarily to record low inventory and not any sharp decline in buying demand. In fact, brokers interviewed by Real Estate In-Depth agree that current economic headwinds in the form of high inflation, rising mortgage interest rates…

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Five Questions with Epoch Senior Living CEO Larry Gerber

April 21, 2022

Last month, partners Epoch Senior Living and National Development opened the doors for the first time to their new $120-million Waterstone of Westchester luxury senior housing project in Downtown White Plains. The independent living facility for those 62 and older offers everything a five-star hotel would offer and more. The 132-unit property is located across…

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Study Finds No Major Impact on School Enrollment From Recent Multifamily Development Projects

April 21, 2022

ARMONK—A recently released study commissioned by The Welcome Home Westchester campaign has found there wasn’t any data from recent large multifamily developments in suburban Westchester communities to substantiate fears of a surge in student enrollment expressed by local opponents of those development projects. Not only have these projects been harmless to the districts, they have…

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U.S. Existing-Home Sales Slip 2.7% in March; Median Home Sales Price Hits New Record

April 20, 2022

WASHINGTON—Existing-home sales decreased in March, marking two consecutive months of declines, according to a report released today by the National Association of Realtors. Month-over-month, sales in March waned in three of the four major U.S. regions while holding steady in the West. Sales were down across each region year-over-year. Existing-home sales in the Northeast slid…

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Newmark Selected to Lease and Manage Briarcliff Office Campus

April 15, 2022

BRIARCLIFF MANOR—Newmark reports it has been retained by the new ownership of 555 Pleasantville Road,  as the exclusive leasing agent and property manager for the office complex. The property has been recently sold to a joint venture between Saber Real Estate Advisors, Tarrytown Partners and GHC Development. USI Insurance was a major tenant at the…

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Advanced Materials Firm Relocating Operations From Tarrytown to Hudson Valley iCampus

April 14, 2022

PEARL RIVER—Momentive Performance Materials Inc. is relocating its operations in Tarrytown to nearly 67,000 square feet of space at the 207-acre Hudson Valley iCampus property here in 2023. Momentive Performance, which is headquartered in Waterford, (Saratoga County) NY will relocate from its current space at 769 Old Saw Mill River Road in Tarrytown in early…

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HGAR, NAR, Realtor Groups to Stage Diversity, Equity, Inclusion Summit

April 13, 2022

Mark Your Calendar MAHWAH, NJ—The National Association of Realtors, New York State Association of Realtors, Hudson Gateway Association of Realtors and other regional Realtor associations will hold an all-day Diversity, Equity and Inclusion Summit on June 14 at the Sheraton Mahwah Hotel in Mahwah, NJ. Program details for the all-day conference (9 a.m. to 4…

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NYSAR Issues Call to Action to Oppose ‘Good Cause Eviction’ Legislation

April 13, 2022

ALBANY—The New York State Association of Realtors issued a “Call to Action” on April 12 to alert its membership that the State Legislature is considering passage of “Good Cause Eviction” legislation, which would restrict the ability of a landlord to evict a tenant, even in cases where their lease has expired so long as the…

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NAR Study Suggests Biggest Obstacle to Homebuying Is the Lack of Affordable Housing, Available Inventory

April 13, 2022

“In the current hot market, people who have traditionally enjoyed homeownership can capitalize on those gains to realize new opportunities. Meanwhile, the market becomes increasingly unaffordable, and the obstacles greater, for those trying to enter the market.” WASHINGTON—The lack of affordable homes is the top obstacle holding back potential home buyers of all races, but…

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HGAR’s RPAC Committee Holds Successful Happy Hour Event

April 11, 2022

  WHITE PLAINS—The Hudson Gateway Association of Realtors’ RPAC Committee held its first 2022 Happy Hour Networking event on April 7 at Pax Romana in White Plains. Approximately 75 people attended, raising a total of $3,500 for the Realtors Political Action Committee. RPAC advocates for real estate professionals and homeowners on a local, state and…

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