ALBANY—The prospect of downstate casinos in the New York metro area just got serious and those who seek these lucrative full-gaming licenses will have to possess very deep pockets that will fund at the least $1 billion in investment. The New York State Gaming Facility Location Board issued Request for Applications on Jan. 3 for…
Read MoreWe are now in the first few weeks of the new year and if you are like most, you’re probably pumped up about starting your new year resolutions or taking the opportunity to reinstitute some good old habits that may have fallen by the wayside over time. Or… even still, you may be dreading coming…
Read MoreWHITE PLAINS—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors reached its goal of $100,000 in fundraising for 2022, raising a total of $105,515. The funds will be used to provide 2023 donations to charities and non-profits throughout the Hudson Valley. In 2022, the foundation held its “Runway for…
Read MoreNEW YORK—All are invited to welcome the 2023 HGAR leadership when the association holds its Installation Gala on Thursday, Feb. 2, at the beautiful Marina Del Rey in the Bronx, directly on Long Island Sound. The event will run from 6 p.m. to 10 p.m. and will include a program to install the new 2023…
Read MoreWHITE PLAINS—The residential real estate markets in the New York City region and the lower Hudson Valley all experienced a shifting market in 2022. Still, in each county, the number of units sold in 2022 exceeded those of the 2019 pre-pandemic market, the Hudson Gateway Association of Realtors reports. Total residential sales in the counties…
Read MoreALBANY—The New York State Association of Realtors announced today (Jan. 9) that longtime NYSAR CEO Charles M. “Chuck” Staro passed away on Jan. 5 at the age of 82. At the time of his passing, Staro was a resident of Estero, FL. Staro joined NYSAR in 1967 and served as NYSAR Chief Executive Officer for…
Read MoreYONKERS—Greenwich, CT-based National Resources has acquired the 28-acre Leake & Watts campus in Yonkers and the Bronx from Rising Ground for $52.6 million. The deal was announced by commercial brokerage firm OPEN Impact Real Estate. OPEN Impact Real Estate is a woman-owned brokerage firm that is an affiliate of Transwestern Real Estate Services. The OPEN…
Read MoreWASHINGTON—Commercial and multifamily mortgage originators are experiencing an unsettled market for borrowing and lending but anticipate those conditions will slowly stabilize over the course of 2023, according to the Mortgage Bankers Association's 2023 Commercial Real Estate Finance Outlook Survey. The survey, which polled the leaders of the top commercial and multifamily mortgage finance firms for…
Read MoreRYE BROOK—The luxury real estate market north of New York City ended 2022 with mixed results as luxury sales in Westchester, Putnam and Duchess counties were largely unchanged while Greenwich, Darien and New Canaan posted sharp declines, according to the Houlihan Lawrence Luxury Q4 Market Report released on Jan. 5. According to the report, Westchester…
Read MoreWEST NYACK—Golfzon, a golf simulator firm, and Troon, a leader in providing golf and club-related leisure and hospitality services, have partnered to launch Golfzon Social, a state-of-the-art indoor golf entertainment venue. The first two locations are set to open in early 2023 in Rockland and Westchester counties. Seeking to attract non-golfers, avid golfers, and casual…
Read MoreELMSFORD—Robert Martin Company, one of the largest real estate management and development firms in Westchester County, announced recently it had secured approximately 586,000 square feet of new leases, renewals, and expansions at its properties in Westchester County for 2022. Company officials stated that the strong leasing activity reflected the ongoing strength of Robert Martin Company’s…
Read MoreNEWBURGH—The opening of the Resorts World Hudson Valley video gaming machine (VGM) facility at the beleaguered Newburgh Mall in Orange County on Dec. 28 will bring hundreds of new full-time jobs and significant tax revenue for the area, but business leaders are hoping for so much more. Executives from Genting, which owns the casino, were…
Read MoreWASHINGTON—Pending home sales slid for the sixth consecutive month in November, according to the National Association of Realtors. All four U.S. regions recorded month-over-month decreases, and all four regions saw year-over-year declines in transactions. “Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest…
Read MoreMOUNT PLEASANT—Recently, the Mount Pleasant Town Board unanimously approved the zoning for the 3.0-million-square-foot North80 science and technology center next to the Westchester Medical Center, New York Medical College, and near the expansive Regeneron Pharmaceuticals complex, which is currently undergoing a $1.8-billion expansion. The approval now sets the stage for the developer to formally submit…
Read MoreWASHINGTON—Existing-home sales declined for the tenth month in a row in November, according to the National Association of Realtors. All four major U.S. regions recorded month-over-month and year-over-year declines. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, waned 7.7% from October to a seasonally adjusted annual rate of 4.09 million…
Read MoreMONTGOMERY—Locally-based residential real estate brokerage firm Curasi Realty, Inc. has announced the establishment of its specialized commercial division. A team of Curasi Realty professionals recently became certified in commercial real estate, prompting the launch of the company’s commercial division. Those Realtors all completed the Commercial and Investment Real Estate (CIRE) certification. “We congratulate these professionals…
Read MoreWASHINGTON—What seems evident from the forecasts from a host of noted real estate experts and economists, including National Association of Realtors Chief Economist Lawrence Yun, is that while 2023 will be a difficult year for many, it will in no way mirror the severe downturn the industry suffered in 2008. While some differ on whether…
Read MoreSTONY POINT— Fifty years ago, Patsy Duncan and late husband Fred set up shop in Rockland County’s Stony Point as a boutique Realtor and has since become a cornerstone of the local real estate scene. Now, Patsy Duncan has decided the time is ripe for a vigorous new stage of growth and has affiliated with…
Read MoreFARMINGDALE—The latest home sales statistics from OneKey MLS clearly indicates that higher mortgage interest rates and inflation are taking their toll on what was a robust sales market earlier this year. OneKey MLS, the largest MLS in New York, which aggregates the real estate transactional data from nine counties making up the regional MLS coverage…
Read MoreORANGEBURG—A single-tenant absolute net leased property in Orangeburg leased to Scapa North America, a wholly owned subsidiary of global provider of engineering solutions and advanced materials firm Schweitzer-Mauduit International, was acquired by Solomon Builders of Teaneck, NJ for $12 million from 25 Corporate Drive, LLC in a 1031 exchange transaction. The deal for the 38,400-square-foot…
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