News

Study: Housing Costs Out of Reach for Many Hudson Valley Renters

July 19, 2021

NEWBURGH—Affordably priced housing continues to be out of reach for many Hudson Valley residents as rents are rising faster than wages, making the gap between what people can afford to pay and what it costs to rent in the region even wider, according to an analysis of data by Hudson Valley Pattern for Progress’ Center…

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Regeneron’s Multi-Year Expansion in Westchester Now Pegged at Nearly $2 Billion

July 16, 2021

TARRYTOWN—The planned expansion of Westchester County-based Regeneron Pharmaceuticals has exponentially increased and is now valued at $1.8 billion. The firm, which is seeking approvals from the Town of Greenburgh for an expansion plan valued at $480 million, is now moving forward with a multi-year expansion that will approach nearly $2-billion. The Tarrytown-headquartered firm’s updated expansion…

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HGAR to Hold LIVE Member Appreciation Day on October 25

July 15, 2021

Considering the increase in the amount of vaccinations and decrease in COVID cases, the Hudson Gateway Association of REALTORS® has opted to hold its 105th Annual Member Appreciation Day on Monday, as a LIVE event on October 25, at the Sleepy Hollow Hotel and Conference Center in Tarrytown. (formerly the DoubleTree Hotel). Last year, for…

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Suburban NYC Home Sales Continue Historic Run

July 15, 2021

WHITE PLAINS—Home sales activity in the Hudson Gateway Association of Realtors’ region continued to be historically robust in the second quarter of this year, fueled by strong demand and a continued economic recovery from the coronavirus pandemic. All key data metrics throughout the region were significantly higher in the second quarter, with the exception of…

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Five Questions With Orange County Executive Steven Neuhaus

July 15, 2021

To say that there has been a lot on the plate for Orange County Executive Steve Neuhaus would be an understatement. In his second term of office he had to deal with the death and devastation caused by the coronavirus pandemic beginning in March 2020. In an exclusive interview with Real Estate In-Depth, Neuhaus discusses…

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Ginsburg Celebrates Grand Openings at White Plains, Peekskill Properties

July 13, 2021

WHITE PLAINS—Ginsburg Development Companies recently staged ceremonies marking key milestones on the development firm’s projects in Downtown White Plains and in Peekskill. The real estate community has been anxiously awaiting the grand opening of its $43.7-million White Plains project, which marked the first major office building in Westchester County to be converted into luxury rental…

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Orange County Partnership Honors its 2021 MVP Richard Golden

July 9, 2021

MIDDLETOWN—More than 300 political, business and civic leaders gathered at the West Hills Country Club in Middletown on June 8 to honor the Orange County Partnership’s 2021 Most Valuable Partner (MVP) veteran attorney Richard Golden. The program, held in a tent on the West Hills complex to conform with CDC coronavirus guidelines, featured a host…

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Yonkers Mayor Spano Vetoes Boost in Affordable Housing Requirement

July 8, 2021

YONKERS—After the Yonkers City Council approved an amended Affordable Housing Ordinance late last month that would increase the affordable housing requirement for new development projects from 10% to 20%, Mayor Mike Spano vetoed the measure on July 7th saying it is infeasible without significant public subsidy. The mayor cited an independent report conducted by HR&A…

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Pattern for Progress CEO to Retire at End of 2021

July 8, 2021

NEWBURGH—Jonathan Drapkin, the longtime president and CEO of Pattern for Progress, will be leaving the regional think tank at the end of this year. Drapkin’s departure was announced on July 8th by Suzanne Loughlin, Pattern Board chair and founder of CrisisRisk Strategies, LLC, who said, “Our longtime leader, Jonathan Drapkin, will step down from his…

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HGAR Hires Garcia as New Diversity, Equity and Inclusion Officer

July 7, 2021

WHITE PLAINS—The Hudson Gateway Association of Realtors recently welcomed Freddimir “Freddy” Garcia, of Poughkeepsie as its new Diversity, Equity and Inclusion (DEI) Officer. In this newly created role, Garcia will lead the association’s efforts in developing and executing HGAR’s diversity, equity, and inclusion goals and initiatives. He will be working out of HGAR’s White Plains…

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Douglas Elliman Relocates to New Office in Greenwich

July 6, 2021

GREENWICH, CT—Douglas Elliman recently announced it had relocated to a new larger location in Greenwich at the historic, free-standing John Lockhart House on 75 Arch St. Company officials state the move underscores the brokerage’s commitment to the region, increasing its office footprint to a four-story, 6,000-square-foot building in order to accommodate its 70 agents and…

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Department of Justice Withdraws from Settlement with NAR; Promises ‘Broad’ Investigation of NAR’s Rules and Conduct

July 2, 2021

WASHINGTON—The U.S. Department of Justice announced on July 1 it was withdrawing from a settlement it had reached with the National Association of Realtors last November in order “to permit a broader investigation of NAR’s rules and conduct to proceed without restriction.” The U.S. Justice Department has also filed to voluntarily dismiss its complaint against…

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In Memoriam: Former NYSAR, OCAR President Eugene ‘Gene” Currier Dies at 88

July 1, 2021

The Hudson Gateway Association of Realtors regrets to inform its membership of the passing of veteran Realtor Eugene “Gene” Currier of Middletown on June 29 at the age of 88. During his long illustrious career in real estate, Currier served as President of the New York State Association of Realtors and the Orange County Association…

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Valley National Bancorp to Acquire Westchester Bank in $220M Deal

July 1, 2021

WHITE PLAINS—New York City-based Valley National Bancorp and The Westchester Bank Holding Corporation announced on June 28 they had entered into a definitive merger agreement whereby Valley will acquire Westchester, parent company of The Westchester Bank. The acquisition of this high-performing commercial bank will provide Valley a physical footprint and additional commercial lending expertise in…

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Goldman Sachs Fund Acquires Avalon Bronxville Multifamily Property

June 30, 2021

BRONXVILLE—A 110-unit multifamily property built more than two decades ago here has been acquired by a fund managed by New York City-based Goldman Sachs Asset Management. Goldman Sachs acquired Avalon Bronxville, which was built and renovated in 2012 by owner AvalonBay Communities for an undisclosed price. Avalon Bronxville, which is located adjacent to the Metro…

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Report: Value of IDA Projects Increased Nearly 50% Over Past Decade

June 29, 2021

ALBANY—Industrial Development Agencies (IDAs) in New York State reported 4,320 active projects valued at $109 billion for 2019, a 3.3%, or $3.5 billion, increase in project values from 2018, while net tax exemptions totaled $796 million in 2019, compared to nearly $784 million in 2018. Project values have increased by 48% since 2009, while the…

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RPAC President’s Circle Conference 2021 Did Not Disappoint

June 29, 2021

The past 15 months have drained me. You’ve probably felt the same way, for your own set of reasons. After being “Zoomed out in a rectangle” since the pandemic began, I felt a strong need for people, discussion, ideas, solutions, hugs and love!!! All these came at me like a tidal wave at the recent…

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