News

Commercial Brokers Optimistic About Markets, Opportunities in 2021

January 6, 2021

WHITE PLAINS—A panel consisting of brokers and affiliated professionals in the commercial real estate market were optimistic that the industry in Westchester and surrounding markets will rebound once the coronavirus pandemic has run its course. The panelists agreed that the multifamily housing sector will continue to be strong in Westchester once vaccines have been administered…

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HGAR's New Bronx Office Plays Santa On Christmas Day for Local Families

January 4, 2021

NEW YORK—HGAR's new Bronx office, headed by Eliezer Rodriguez, along with volunteers from the Castle Hill YMCA, distributed toys to more than 500 children on Christmas morning. Some Bronx children who received toys from "Operation Realtors’ Kids." HGAR's Bronx office becomes Santa's Workshop.   This is the ninth year for "Operation Realtors' Kids" that brings…

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Yonkers IDA Provided Incentives for $210M in New Projects in 2020 Despite Pandemic

January 4, 2021

YONKERS—Building on the momentum of a very active 2019, the Yonkers Industrial Development Agency reported on Jan.4 it had provided financial incentives in 2020 to residential and commercial projects representing a total private investment of approximately $210 million. The developments are projected to create 450 new residential units, 129,000 square feet of commercial and industrial…

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Governor Signs Three Indian Point-Related Bills into Law

January 4, 2021

ALBANY—New York State Senator Pete Harckham and Assemblywoman Sandy Galef announced on Jan. 1 that three bills the two legislators sponsored relating to ensuring workforce protections and financial assistance to local municipalities and taxpayers while the Indian Point Energy Center undergoes its decommissioning process, had been signed into law by Governor Andrew Cuomo. The new…

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BRI Names First Female President in 75-Year History

December 29, 2020

ARMONK—The Building & Realty Institute announced recently it has named the first female President in the institute’s 75-year history—Lisa DeRosa, president of DeRosa Builders, Inc. of White Plains. DeRosa has been active in the BRI for years. DeRosa served as a vice chair of the BRI’s Apartment Owners Advisory Council from 2016 to 2020 and…

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Gov. Cuomo Signs Bill Extending Eviction Ban Until May 1

December 29, 2020

ALBANY—After the State Legislature met in special session on Monday, Dec. 28 and the Assembly and Senate approved the bill, Gov. Andrew M. Cuomo signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 later that day. The bill (S.9114/A.11181) prevents residential evictions, foreclosure proceedings until May 1, 2021 and also prohibits credit discrimination…

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Nuvance Health Systems to Shift 500 NY Jobs to Connecticut

December 29, 2020

DANBURY, CT—In the largest office lease deal in Connecticut this year, Nuvance Health Systems has signed a 220,000-square-foot lease at the former 1.2-million-square-foot Union Carbide property in Danbury. The 12-year lease deal at “The Summit at Danbury” will reportedly bring 500 jobs from New York State across the border to Connecticut. In an announcement by…

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NYS Legislature Expected to Pass COVID-19 Eviction and Foreclosure Protection Act; Extends Tenant Eviction Ban Until May 1

December 28, 2020

ALBANY—The New York State Legislature is meeting today in special session to vote on and approve the COVID-19 Emergency Eviction and Foreclosure Prevention Act, which it describes as the strongest bill of its kind in the nation. The legislation will extend an eviction moratorium on residential tenants until May 1. The State Assembly and Senate…

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US Existing-Home Sales Fell 2.5% in November

December 22, 2020

WASHINGTON—Existing-home sales fell in November, snapping a five-month streak of month-over-month gains, according to a report released on Dec. 22 by the National Association of Realtors. All major regions either took a step back or held steady in terms of their respective month-over-month status, but each of the four areas experienced significant year-over-year growth. Total…

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Sen. Schumer Says New York State to Get More Than $54 Billion from COVID Stimulus

December 22, 2020

WASHINGTON—With a bipartisan spending and COVID relief deal now passed by Congress, U.S. Senator Charles Schumer detailed its pending impact on Upstate New York as more than $54 billion. The deal includes direct stimulus checks, extending enhanced unemployment insurance, and secures another round of forgivable PPP for small businesses, restaurants and nonprofits across the state.…

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NY County Executives Slam New COVID Stimulus For No Funding for State, Local Governments

December 17, 2020

ALBANY—Chief officials of the New York State Association of Counties and the New York State County Executives Association were highly critical of the failure of Congress in federal stimulus negotiations to include state and local government aid in the estimated $900-million package. NYSAC President Jack Marren and NYSCEA President Marcus Molinaro released a biting statement…

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MTA Adopts 2021 Budget that Assumes Billion in Federal COVID Aid

December 17, 2020

NEW YORK—As Congress continues the debate on the next COVID relief package in Washington, the Metropolitan Transportation Authority Board on Wednesday adopted a 2021 budget and 2021-2024 financial plan that assumes Congress will eventually approve the needed $4.5 billion in COVID relief funding in 2021. The MTA noted that without the billions of dollars in…

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Bronx Registered $4 Billion in Total Development in 2019

December 16, 2020

While the Bronx, and the rest of New York City has been battered by the coronavirus this year, the Bronx, prior to the pandemic, was very popular with investors, registering a very impressive $4 billion in total development in 2019. Bronx Borough President Ruben Diaz Jr. recently released the “Bronx Annual Development Report” for 2019.…

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New York City’s Brick and Mortar Retailers Battered by Pandemic

December 15, 2020

NEW YORK—The retail sector, one of New York City’s biggest employers, is having an uneven recovery from the COVID-19 pandemic, with “non-essential” retailers struggling but online sellers booming, according to a report released on Dec. 14 by New York State Comptroller Thomas P. DiNapoli. “2020 was a bleak year for brick and mortar retailers, and…

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HGAR, Bronx YMCA to Distribute Toys To Local Children on Christmas Day

December 15, 2020

NEW YORK—Staff members from HGAR’s new Bronx office and the Bronx YMCA will be out and about on Christmas Day, delivering toys to children in the local area. The toys, collected from “Operation Realtors Kids” Toy Drive, will be distributed to 21 homes with gifts for 80 children. “Our members and friends give generously during…

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Houlihan-Parnes Brokers Retail Leases At White Plains Road Strip Building

December 15, 2020

NEW YORK—David Lulgjuraj, asset manager of Houlihan-Parnes Properties, an affiliate of Houlihan-Parnes Realtors LLC, the exclusive leasing agent for 4174-4198 White Plains Road in the Bronx, announced recently the firm has completed four lease transactions totaling 6,350 square feet at the property. The transactions at the retail strip building located at the intersection of East…

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Trion to Manage Shorehaven Community in the Bronx

December 15, 2020

NEW YORK—Yonkers-based Trion Real Estate Management has been selected as the property management firm for the Shorehaven Homeowner’s Association located at 15 White Plains Road in the Bronx. The community totals 899 units spanning 40 acres, Shorehaven is comprised of seven homeowner’s associations and one umbrella association. The SHOA Board was looking for a single…

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Wave Hill – The Best Kept Secret in the Bronx

December 15, 2020

Mention Wave Hill to someone, and you’ll often get a perplexed look, accompanied by a scratching of the head. Indeed, this botanical gem, nestled quietly behind towering buildings along Independence Avenue and 252nd Street in the Bronx, may be the borough’s best kept secret. A public garden since 1965, Wave Hill has been described as…

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Rep. Maloney’s Bill to Protect Hudson River Passes House

December 9, 2020

WASHINGTON—The House of Representatives on Dec. 8 passed the National Defense Authorization Act of 2021 on a bipartisan vote, which includes Rep. Sean Patrick Maloney’s (NY-18) provision permanently banning the establishment of new anchorages for oil barges on the lower Hudson River, from Yonkers to Kingston. “This is a victory for the Hudson Valley. I…

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