News

Sen. Harckham's Wetlands Protection Bill Passes State Senate

June 9, 2021

ALBANY—The New York State Senate approved legislation (S.5116C) on June 8 introduced by State Senator Pete Harckham (D-40th District) geared at protecting and regulating freshwater wetlands in the state. The measure still must secure approval from the New York State Assembly. “Because of a patchwork of federal and state regulations, freshwater wetlands in New York…

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Feinberg Could Become First Woman to Serve as MTA Board Chair

June 9, 2021

ALBANY—In a shakeup of the leadership of the Metropolitan Transportation Authority, New York Gov. Andrew M. Cuomo announced on June 8 the nomination of Sarah E. Feinberg as Board Chair and the appointment of Janno Lieber as the CEO of the New York MTA. Pat Foye, who has led the agency as president as well…

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DeCicco & Sons Project at Edge-on-Hudson to Break Ground Later This Year

June 8, 2021

SLEEPY HOLLOW— Construction on a new 30,000-square-foot DeCicco & Sons market at the Edge-on-Hudson in Sleepy Hollow is set to begin later this year. The Village of Sleepy Hollow Planning Board recently approved plans for the market, which will include a second story glass-enclosed beer and wine café, oriented towards the Hudson River. An adjacent 10,000…

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A.S.A.P. Mortgage Opens New Branch in Orange County

June 4, 2021

CENTRAL VALLEY—A.S.A.P. Mortgage Corp. CEO and Founder Irene Amato has announced that the mortgage brokerage firm has opened its newest branch here on Route 32. A.S.A.P. Mortgage’s new Orange County branch at 237 Route 32 opened its doors on June 3 and will offer a full array of mortgage products, the most competitive rates and…

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White Plains Hospital Opens $272M Outpatient Facility

June 3, 2021

WHITE PLAINS—There are few positive things people can point to during the coronavirus pandemic. On June 2, a host of political dignitaries, hospital executives and hundreds of staff celebrated the completion of a $272-million project that serves as a concrete testament to the courage and dedication of White Plains Hospital workers and the construction workers…

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Howard Hanna | Rand Realty Opens New Office in Morris Plains, NJ

June 1, 2021

MORRIS PLAINS, NJ—Howard Hanna | Rand Realty announced on June 1 the opening of its new office in Morris Plains, NJ at 374 Speedwell Ave. Company officials said the opening marked the continued expansion for the brokerage firm in the New York/New Jersey market. “Howard Hanna | Rand Realty is making a tremendous effort to…

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Indian Point Energy Center’s Sale To Decommissioning Firm Finalized

June 1, 2021

BUCHANAN—The nuclear age in Westchester County and the Hudson Valley officially ended late last month with the sale of the Indian Point Energy Center in Buchanan by Entergy Corp. to decommissioning firm Holtec International. On May 28, Entergy announced it had completed the sale of the Indian Point complex to subsidiaries of Camden, NJ-based Holtec…

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Ramapo Based CRE Firm Pays $88M for New Jersey Office Complex

May 27, 2021

RAMAPO—Locally-based commercial real estate services firm Northeast Capital Group has acquired Woodbridge Corporate Plaza, a six-building Class A office complex in Iselin, NJ for $88 million. The property, which includes 629,189 square feet of office space, was sold by KBS, an Iselin, NJ-based commercial real estate investment firm. Newmark represented KBS in the transaction KBS…

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Hudson Valley Region’s Jobless Rate Falls to 5.3%

May 26, 2021

ALBANY—The Hudson Valley region continues to show signs of recovery from the coronavirus pandemic. The unemployment rate for the Hudson Valley region fell from 6% in March to 5.3% in April, according to figures released by the New York State Department of Labor. April 2021’s unemployment rate was down significantly from a year earlier during…

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New York State’s $2.7 Billion Rental Assistance Program Begins June 1

May 26, 2021

ALBANY—New York Gov. Andrew Cuomo announced on May 25 that the state’s $2.7 billion emergency rental assistance program for struggling New Yorkers impacted by the COVID-19 pandemic will begin on June 1 when applications for funding will first be accepted. He also announced that online applications for $800-millon in small business recovery grants will be…

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CenterPoint Properties Acquires Bronx Logistics Center for Nearly $117M

May 25, 2021

NEW YORK—Oak Brook, IL-based CenterPoint Properties has acquired a 145,144-square-foot Class A urban logistics center at 1080 Leggett Ave. in the Bronx for $116.5 million. CenterPoint purchased the fully-leased property from Goldman Sachs Asset Management and Blumenfeld Development Group, Ltd. Brokerage firm JLL represented the seller in the transaction. The deal comes less than 18…

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NAR: U.S. Existing-Home Sales Declined 2.7% in April; Northeast Sales Fell Nearly 4%

May 24, 2021

WASHINGTON—Existing-home sales waned in April, marking three straight months of declines, according to the National Association of Realtors. All but one of the four major U.S. regions witnessed month-over-month drops in home sales, but each registered double-digit year-over-year gains for April. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, slipped…

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Middletown Apartment Complex Trades for $19 Million

May 20, 2021

MIDDLETOWN—The 150-unit Crestwood Apartments multifamily property at 92 Fitzgerald Drive here has been sold for $19 million. The deal was reported by Woodbridge, NJ-based brokerage firm The Kislak Company, Inc. which did not identify the purchaser. The Real Deal reported that the buyer of Crestwood Apartments was Chestnut Ridge-based North Point Management. Last July, North…

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NAR: Realtors Cite Lack of Inventory as Top Impediment to Completing Sales Transactions

May 20, 2021

WASHINGTON—Realtors cite a lack of inventory as the leading cause for limiting potential clients from completing a transaction, according to the National Association of Realtors' 2021 Member Profile, an annual report analyzing members' business activity and demographics from the prior year. However, in spite of a global pandemic, its drastic impacts on how business was…

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