ALBANY—Governor Kathy Hochul announced on Dec. 16 more than $145 million has been awarded to create or preserve 1,178 affordable homes in 21 separate developments across New York. The funding will further pandemic recovery efforts, fight homelessness, help close the digital divide for lower income households, and expand access to safe and sustainable affordable housing…
Read MoreWASHINGTON—As part of the National Association of Realtors’ Real Estate Forecast Summit held on Dec. 15, real estate economists and experts predict a continued strong market, marginal improvement in the nation’s for-sale inventory crisis and higher interest rates. The virtual program began with an opening address by 2022 NAR President Leslie Rouda Smith, followed by…
Read MoreThe Delta variant surge and the emergence of the Omicron COVID-19 variant, as well as high inflation, have many business leaders nervous heading into 2022. The residential real estate sales market has been booming in the United States, thanks to strong demand and low borrowing rates. What’s in store for the residential and commercial markets…
Read MoreNEW YORK—The Penn Station Access Project, which has been widely supported by politicians and business interests in the Bronx and Westchester has reached a critical stage—the award of a contract to undertake the work that will provide direct Metro-North service from the Bronx, Westchester and Connecticut to Penn Station and Manhattan’s west side. Penn Station…
Read MoreNANUET—The National Association of Minority Mortgage Bankers of America (NAMMBA) recently announced a partnership with locally-based Hudson United Mortgage in NAMMBA’s effort to affect positive change with the housing needs of underserved communities and with the development of a more diverse mortgage workforce. “We’re extremely excited to partner with Hudson United Mortgage,” said NAMMBA Founder/CEO…
Read MoreNEW ROCHELLE—The National Association of Hispanic Real Estate Professionals (NAHREP) Westchester Chapter held its Annual Sales Award Gala at the Glen Island Harbour Club in New Rochelle on Nov. 10. The organization handed out its major awards and also announced that Jose "Joe" Maymi, Howard Hanna | Rand Realty will be serving as NAHREP 2022…
Read MoreNEW YORK—Commercial development plays an imperative role in the success and longevity of a community. However, the road to its execution can be riddled with legal, ethical and environmental hinderances. Real estate experts joined leading development and public policy professionals to discuss commercial development complexities and their resolutions in a virtual panel Nov. 18 hosted…
Read MoreALBANY—New York State Gov. Kathy Hochul announced on Dec. 7 the recent enactment of legislation (S.6950/A.7667) that makes it unlawful to disrupt or fail to provide essential services and habitability for interim multiple dwelling units and allows tenants to pursue a claim in New York City Housing Court. The bill, which was signed into law…
Read MoreALBANY—New York Gov. Kathy Hochul announced on Dec. 6 that New York State is the first state in the nation to receive U.S. Department of the Treasury's approval to launch its Homeowner Assistance Fund, a program that will provide up to $539 million to help eligible homeowners avert mortgage delinquency, default, foreclosure, and displacement. Applications…
Read MoreBEDFORD HILLS—At a press conference earlier today (Dec. 6), U.S. Rep. Sean Patrick Maloney (D-18) expressed confidence that the reform of the unpopular SALT Cap is at hand. There have been reports that Senate Democrats are at odds over the particulars of how to reform the SALT Cap, which is to be part of President…
Read MoreALBANY—New York Gov. Kathy Hochul announced on Nov. 22 that more than $81 million has been awarded to support 97 priority projects across New York State through the Regional Economic Development Council initiative. Among the award recipients include a host of major projects in the Hudson Valley and New York City regions, involving bioscience, downtown…
Read MoreNEW YORK—On Giving Tuesday (Nov. 23) Hudson Gateway Realtor Foundation, Inc. presented a check for more than $1,500 to the Castle Hill YMCA in the Bronx who has served the local community for more than a decade. Funds were raised during the Annual Golf and Tennis Outing held earlier this year by the Bronx Chapter…
Read MoreWASHINGTON—The Federal Housing Finance Agency (FHFA) today announced the conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2022. In most of the U.S., the 2022 CLL for one-unit properties will be $647,200, an increase of $98,950 from $548,250 in 2021. The market area of the Hudson…
Read MoreNEW YORK—Townhouses in New York City are a distinct combination of history, privacy and living space. Just as the properties are unique, so are the transactional intricacies that come with the acquisition. Real estate experts joined leading legal and financial professionals to discuss townhouse transaction complexities and how to streamline them in a virtual panel…
Read MoreThe Hudson Gateway Association of Realtors regrets to inform its membership of the passing of longtime Realtor and Affiliate James “Jim” W. Rood Jr. on Nov. 28, 2021. Rood passed away after a valiant battle with colon cancer at the age of 64. Rood was an Environmental Engineer and he ran his own company, Lighthouse…
Read MoreWHITE PLAINS—The more than decade-long saga of the French-American School project in White Plains has come to an end with the sale of the 130-acre parcel to Long Island-based residential development firm The Farrell Building Company. Joseph Farrell, owner of The Farrell Building Co., which is based in Bridgehampton, NY, told Real Estate In-Depth that…
Read MoreCOVID-19’s impact on the local and national CRE market has decreased the relevance of CRE assets. Many assets simply don’t “work” in today’s post-pandemic environment. That doesn’t mean however that there isn’t a “life after death” for these locations. Indeed, they can hold much purpose, if you’re an owner or developer who’s thinking outside the…
Read MoreWHITE PLAINS—In its continuing efforts to provide employment opportunities and workforce training in support of the Westchester County economy, the Westchester County Office of Economic Development reported that Westchester Community College will be launching a new career training program for advanced manufacturing. The program, which will launch in January 2022, puts individuals with little or…
Read MoreNEWBURGH—While environmental groups and state politicians, including Gov. Kathy Hochul praised the decision in late October by the New York State Department of Environmental Conservation to deny a key air permit for the Danskammer Energy project here, key business, trade and economic development organizations have lined up in support of Danskammer’s recently filed appeal of…
Read MorePOUGHKEEPSIE—The highly anticipated final report from the New York State Department of Transportation’s Route 17 Planning and Environmental Linkage (PEL) Study group is recommending the state move forward with a General Use Third Lane in each direction on Route 17 in Orange and Sullivan counties that could if built as one major project cost anywhere…
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