RYE BROOK—The Westchester County commercial market continues to show signs of strength with a rebound in office leasing while the demand for industrial/flex space remains strong and multi-family rents continue to make gains, according to the Houlihan Lawrence Second Quarter Commercial Market Report. Officials with Houlihan Lawrence Commercial note that the retail sector continues to…
Read MoreSHELTON, CT—William Raveis Real Estate, Mortgage & Insurance has acquired Sarasota, FL-based Key Solutions Real Estate, a leading luxury and family-owned brokerage with 44 professional sales associates, effective on Aug. 2. Key Solutions’ offices on Siesta Key and in Lakewood Ranch will reopen under the William Raveis Real Estate luxury brand. The acquisition marks WRRE’s…
Read MoreNEW YORK—The Community Preservation Corporation (CPC) announced on Aug. 2 that it had deployed approximately $937 million in capital to support impactful housing and community development projects during a record-breaking 2021 fiscal year that ran from July 1, 2020 through June 30, 2021. CPC’s work across its construction, permanent, and agency lending and investing platforms…
Read MoreNEW YORK—Berkshire Hathaway HomeServices New England/ Westchester/New York Properties announced on Aug. 3 that Diane Ramirez has been named Chief Strategy Officer of its New York City brokerage. Ramirez was most recently the executive chairman and senior advisor of Brown Harris Stevens, as well as the co-founder of Halstead. In her new role, Ramirez will…
Read MoreVALHALLA—The Mount Pleasant Industrial Development Agency voted at its July 29th meeting final approval of financial incentives for the construction of a three-story building with 16 apartments and underground parking located at 500 Commerce St. in Hawthorne. The residential project, which received preliminary approval at the IDA’s June 2 meeting, represents a total private investment…
Read MoreNEW YORK—The ownership of Empire City Casino in Yonkers is being acquired by New York City-based gaming, hospitality and entertainment REIT VICI Properties Inc. in a deal valued at $17.2 billion. VICI Properties reported that it had entered into a definitive agreement (Master Transaction Agreement) with MGM Growth Properties LLC and MGM Resorts International (MGM…
Read MoreNEW YORK—Residential brokerage firm Douglas Elliman, announced today that Dottie Herman has stepped down as its Chief Executive Officer. The firm has promoted President and Chief Operating Officer Scott Durkin to Chief Executive Officer, effective immediately. Herman, who purchased Douglas Elliman in 2003 in partnership with Douglas Elliman Chairman Howard M. Lorber, has been named…
Read MoreALBANY—Gov. Andrew Cuomo announced on July 29 that as part of his $20-billion program to combat homelessness and create affordable housing, the state will provide a total of $195.5 million in financing for two housing developments in Westchester and two in the Bronx. The governor announced $270 million in financing for six affordable housing developments…
Read MoreALBANY—Several days after New York City issued the mandate, Gov. Andrew Cuomo on Wednesday announced that all New York State employees—about 130,000 people—will be required to get vaccinated for COVID-19 by Labor Day. The governor also announced that all patient-facing healthcare workers at state-run hospitals will be required to get vaccinated for COVID-19 by Labor…
Read MoreWASHINGTON—Foreign buyers purchased $54.4 billion worth of U.S. existing homes from April 2020 through March 2021, a 27% decrease from the previous 12-month period and the fourth consecutive annual decline in foreign investment in U.S. residential real estate, according to a new report released by the National Association of Realtors. Foreign buyers purchased 107,000 properties,…
Read MoreBOSTON—Boston Properties, Inc. reported on July 27 it had agreed to acquire 360 Park Ave. South, an existing 450,000 square foot, 20-story office property in the Midtown South submarket of Manhattan for $300 million. The property is currently fully leased to a single tenant who will be vacating in late 2021 providing BXP with the…
Read MoreHAMILTON, NJ—The value of commercial and multifamily starts in the top 20 metropolitan areas of the U.S. gained 12% during the first six months of 2021 relative to the first half of 2020, according to a report released on July 27 by Dodge Data & Analytics. Nationally, commercial and multifamily construction starts were 10% higher…
Read MoreWASHINGTON—Existing-home sales increased in June, snapping four consecutive months of declines, according to the National Association of Realtors. Three of the four major U.S. regions registered small month-over-month gains, while the fourth remained flat. However, all four areas notched double-digit year-over-year gains. Existing-home sales in the Northeast increased 2.8% in June, recording an annual rate…
Read MoreHAVERSTRAW—The Village of Haverstraw released a Request for Proposal on July 21 for the development of two waterfront parcels currently known as the Chair Factory and Damiani Properties. The village has owned these parcels for several years. This more than nine-acre combined parcel sits on a peninsula at the foot of Main Street at the…
Read MoreEditor’s Note: This column first appeared in RISmedia. As a small business owner and president of the National Association of Realtors (NAR), I want to set the record straight on misconceptions by some about the real estate industry. Commissions for real estate agents and brokers are negotiable. Always have been. Always will be. Let’s put…
Read MoreNEW YORK—Residential real estate brokerage firm Douglas Elliman announced on July 19 that real estate veteran Richard Ferrari has joined the firm as president and CEO of Brokerage for New York City and the Northeast Region. In this role, Ferrari, a highly regarded industry expert, will oversee the firm’s New York City resale markets, including…
Read MoreNEW YORK—Brown Harris Stevens reports today that Christopher Halstead, the nephew of Halstead co-founder and real estate legend Clark Halstead, has joined the firm’s Connecticut residential brokerage operations as executive sales director. In the role, Halstead will work across all six of the Connecticut offices, supporting agents, respective management teams, and further helping shape business…
Read MoreNEWBURGH—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…
Read MoreTARRYTOWN—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…
Read MoreConsidering 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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