News

Commercial Brokers See Many Opportunities in Post-COVID Market

February 23, 2022

WHITE PLAINS—A panel of commercial real estate brokers from the New York City/Hudson Valley market that were part of a recent virtual panel hosted by the Hudson Gateway Association of Realtors were upbeat about many sectors in 2022, particularly the industrial, flex, health care and medical office segments. The region’s office market remains troubled as…

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Invesco RE Acquires Cortlandt Crossing Shopping Center

February 23, 2022

CORTLANDT MANOR—Dallas-based Invesco Real Estate, a global real estate manager, has acquired the 122,225-square-foot Cortlandt Crossing shopping center here. The grocery-anchored shopping center at 3144 East Main St. in Cortlandt Manor was sold by Rye-based Acadia Realty Trust. Cortlandt Crossing is a newly developed, 95% leased center anchored by ShopRite and HomeSense. Additional tenants include…

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Experts Bullish on Continued Manhattan, NYC Metro Housing Recovery

February 23, 2022

WHITE PLAINS—A panel of real estate executives agreed that the exodus from Manhattan due to COVID-19 is over and that the recovery in the Manhattan luxury housing market has gained momentum that will continue this year. In addition, the recovery, fueled by a roaring stock market, low interest rates and rapidly declining COVID infection rates,…

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U.S. Existing-Home Sales Surged 6.7% in January

February 22, 2022

Inventory at All-Time Low WASHINGTON—Existing-home sales rose in January, making a notable move upward following a previous month where sales declined, according to the National Association of Realtors. On a month-over-month basis, each of the four major U.S. regions experienced an increase in sales in January. However, year-over-year, activity was mixed as two regions reported…

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New York Investment Firm Acquires White Plains Plaza for $105 Million

February 17, 2022

WHITE PLAINS—Argent Ventures, a privately held New York City-based investment firm, has acquired the twin-tower White Plains Plaza office property here from Ivy Realty of Greenwich, CT and DW Capital of New York City for $105 million. The deal represents the largest single asset office sale in Westchester County since 2010. The purchase expands Argent’s…

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Maryland-Based Logistics Firm Buys Warehouses in Westchester, Rockland Counties

February 17, 2022

ANNAPOLIS, MD—Logistics investment firm Realterm, which is headquartered in Annapolis, MD, has acquired a final-mile warehouse property in Armonk and another two warehouse buildings in Blauvelt, totaling a combined more than 420,000 square feet of industrial space. On Feb, 14, Realterm reported that it acquired the 112,791-square-foot warehouse building at 215 Business Park Drive in…

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Howard Hanna | Rand Realty Expands Presence in Garden State

February 17, 2022

NANUET—Howard Hanna | Rand Realty announced on Feb. 16 the firm had expanded its presence in the State of New Jersey with the purchase of Striker Realty, which operates out of offices in Linden, Livingston, and Rahway, NJ. Striker Realty was founded 20 years ago by Thomas J. Borowski, a renowned real estate broker entrepreneur…

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Corcoran Legends Realty Expands into Bronxville

February 14, 2022

BRONXVILLE NY- Corcoran Legends Realty has expanded its presence further into Southern Westchester with the acquisition of the Sales Division of Barhite & Holzinger of Bronxville located at 71 Pondfield Road here. The Bronxville office will be the fourth location for the boutique real estate brokerage firm, which affiliated with The Corcoran Group in September…

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Business Council’s Gordon, Young of SUNY Orange Appointed Co-Chairs of Mid-Hudson Regional Council

February 10, 2022

NEW WINDSOR—The Mid-Hudson Regional Economic Development Council announced on Wednesday that Dr. Marsha Gordon, President & CEO of The Business Council of Westchester (BCW) and Dr. Kristine Young, President of SUNY Orange have been appointed as Co-Chairs of the Council, effective immediately. Dr. Gordon and Dr. Young succeed Dr. Donald P. Christian, President of SUNY…

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Westchester County IDA Approves Incentives For Two Multi-Family Projects in White Plains

February 9, 2022

WHITE PLAINS—The Westchester County Industrial Development Agency recently voted to grant preliminary and final approvals of financial incentives for the construction of two multi-family residential developments in Downtown White Plains that represent a total private investment of $131 million. At its Jan. 27th meeting, the IDA Board voted preliminary approval of financial incentives for 51…

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HGAR CEO Richard Haggerty Named RISMedia 2022 Real Estate Newsmaker

February 9, 2022

NEW YORK—Richard Haggerty, CEO of the Hudson Gateway Association of Realtors, Inc. and President and Chief Strategic Growth Officer of OneKey MLS, has been selected as a RISMedia 2022 Real Estate Newsmaker. The annual recognition, now in its fifth year, showcases key influencers making headlines for their contributions to the real estate industry and their…

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Record-High Prices, Low Inventory Make It Increasingly Difficult for Black Americans to Achieve Home Ownership

February 7, 2022

WASHINGTON—The surging residential real estate market of the last two years led to record-high home prices and record-low inventory. This simultaneous "double trouble" has made it increasingly difficult for consumers, particularly Black Americans, to achieve homeownership, according to a new analysis released on Feb. 7 by the National Association of Realtors and Realtor.com. “The Double…

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Westchester Commercial Market Ends 2021 On Generally Positive Note in Most Sectors

February 2, 2022

RYE BROOK—The Westchester County commercial market ended 2021 on a generally positive note with robust growth in multifamily developments as well as a strong performance by the industrial/flex market while retail fundamentals continued to improve and the investment market showed modest gains. However, entering 2022, the office market struggles to gain traction, according to the…

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Two International Carriers to Fly Out of Stewart in 2022

February 2, 2022

NEW WINDSOR—The Port Authority of New York and New Jersey announced on Feb. 1 that low-cost carrier Play Airlines (PLAY) will be launching daily international flights from New York Stewart International Airport to Reykjavik, Iceland starting on June 9. The Icelandic airline becomes the third carrier to offer international or domestic flights from New York…

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William Pitt – Julia B. Fee Sotheby’s Int. Realty Names New Co-Presidents

February 2, 2022

STAMFORD, CT— William Pitt - Julia B. Fee Sotheby’s International Realty, a residential real estate firm serving Connecticut, Westchester County, and the Berkshires, MA, announced on Feb. 1 that two of the firm’s leadership team veterans—Carolyn Fugere and Vincent Socci—will assume new senior roles serving under Chairman, Chief Executive Officer and co-owner Paul Breunich. Fugere…

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Howard Hanna | Rand Realty Expands into Fairfield County, CT Market

February 1, 2022

NANUET—Howard Hanna | Rand Realty announced on Feb. 1 its expansion into the Fairfield County, CT market with the recent acquisition of the Madison and Post Real Estate Agency. The transaction will expand the footprint of Howard Hanna | Rand Realty with three new locations in Ridgefield, Stamford and Westport, CT. “Fairfield County is one…

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NYC Mayor Adams Announces Climate Leadership Team Appointments

February 1, 2022

NEW YORK—New York City Mayor Eric Adams announced on Jan. 31 the appointments of his climate leadership team that will focus on environmental protection and environmental justice across New York City. Mayor Adams appointed Rohit T. Aggarwala as chief climate officer and commissioner of the New York City Department of Environmental Protection (DEP), Vincent Sapienza…

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Westhab Closes on Construction Financing For Affordable Housing Project in Yonkers

January 28, 2022

YONKERS—Westhab, a Yonkers-based provider of affordable housing and social services, wrapped up 2021 by closing on construction financing for the Hudson Hill affordable housing project in Yonkers and a shelter renovation project in the borough of Queens. Hudson Hill in Yonkers is a 113-unit ground-up affordable housing development incorporating state-of-the-art green technologies. The Briarwood Rapid…

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