News

Home Appreciation Nets Middle-Income Homeowners $122,100 in Past Decade

April 18, 2023

KANSAS CITY, MO—– A newly released housing report by the National Association of Realtors reveals middle-income homeowners accumulated $122,100 in wealth as their homes appreciated by 68% in the last 10 years. The report indicated all income earner brackets benefitted from home appreciation, however, some stark inequalities in benefits were revealed. The report, Wealth Gains…

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Survey: 82% of Home Sellers Feel ‘Locked In’ by Low Mortgage Rate

April 17, 2023

SANTA CLARA, CA—While the best time to sell your home is upon us, there is one major issue holding sellers back—high mortgage rates. According to a new survey released on April 17 from Realtor.com and HarrisX, the vast majority (86%) of those planning to sell their home in the next 12 months are also planning…

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Home Sales Fall Sharply in First Quarter In The Bronx and Lower Hudson Valley

April 11, 2023

WHITE PLAINS—Coming off of a rocky end to 2022, the real estate industry was hopeful for a better market at the start of 2023. However, the data recorded in Westchester, Putnam, Rockland, Orange, Sullivan and Bronx counties paints a different picture, even when compared to pre-pandemic numbers. While the cyclical nature of the residential market…

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New Jersey-Based Firms Acquire Chappaqua Medical Complex

April 11, 2023

CHAPPAQUA—Atkins Companies of West Orange, NJ and Denholtz Properties of Red Bank, NJ announced recently the acquisition of the Medical Offices at Chappaqua Crossing, a 490,000-square-foot, 59-acre healthcare facility located at 480 Bedford Road in Chappaqua. The firms stated the investment will leverage Atkins Companies’ decades of experience creating and managing modern healthcare facilities geared…

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Pickleball America Signs Major Lease at Stamford Town Center

April 7, 2023

STAMFORD, CT—Houlihan Lawrence Commercial Division announced on April 6 it had negotiated a lease of more than 80,000 square feet of anchor space in the Stamford Town Center to Pickleball America for what will become one of the world’s largest indoor pickleball venues. Pickleball America is moving into the former two-story Saks Off 5th retail…

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NY State, NYSAR to Hold Fair Housing Conference on April 25

April 4, 2023

ALBANY—In honor of Fair Housing Month, the New York State Division of Human Rights will be hosting a free day-long conference, “Fair Housing Protects, Knowledge Empowers: Increasing Equity through Policy, Practice and Education” on Tuesday, April 25 at the New York State Museum’s Huxley Theater at the Empire State Plaza, 222 Madison Ave. in Albany.…

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GUEST COLUMN: Hudson Valley Businesses Need a Strong Film Tax Credit

April 4, 2023

In recent years, the Hudson Valley has witnessed enormous growth in the film and television industry with more productions choosing to shoot in our region than ever before. Television shows, the largest type of production with the biggest budgets, have even started to base productions here, with major television shows based in the Mid-Hudson Valley…

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Bold Charter School Signs Condo Deal For New Facility to be Built in the Bronx

April 4, 2023

NEW YORK—Bold Charter School has signed a long-term 81,590-square-foot condominium transaction for the ground-up construction of a build-to-suit school to be located at 1472 Boston Road in the Crotona East Park neighborhood of the Bronx. The deal was announced on April 3 by OPEN Impact Real Estate LLC and Transwestern Real Estate Services, which represented…

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Federal Grant to Fund Major Westchester County Tourism Study

April 3, 2023

WHITE PLAINS—Westchester County Tourism & Film was awarded a $400,000 federal Economic Development Administration grant as part of the American Rescue Plan to support the development of a Westchester County Tourism Recovery Plan. Westchester County officials stated that the plan will produce professional documentation of short, medium, and long-term actions and priorities that should be…

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NAR: Pending U.S. Home Sales Continue to Improve

March 29, 2023

WASHINGTON—Pending home sales grew in February for the third consecutive month, the National Association of Realtors reported on March 29. Three U.S. regions posted monthly gains, while the West declined. All four regions saw year-over-year decreases in transactions. The Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, improved 0.8%…

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Baby Boomers Overtake Millennials as Largest Generation of Home Buyers

March 28, 2023

WASHINGTON—The share of baby boomers has surpassed millennials and now makes up the largest generation of home buyers, according to the latest study from the National Association of Realtors released on March 28. The 2023 Home Buyers and Sellers Generational Trends report, which examines the similarities and differences of recent home buyers and sellers across…

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Five Questions With: MaryAnne Gilmartin Founder &CEO, MAG Partners

March 23, 2023

When Real Estate In-Depth pondered who would be the candidate for the Five Questions feature for Women’s Month, the logical choice was MaryAnne Gilmartin. Her background in real estate as she tells it almost began by happenstance, but her hard work has led her to found her own New York City-based real estate development firm—MAG…

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Celebration of Black History Month at HGAR

March 21, 2023

WHITE PLAINS—Black History Week was unofficially started in 1915, 50 years after the Thirteenth Amendment abolished slavery in the United States, to research and promote the achievement of Black Americans and other people of African descent. Fast forward to 1926, the second week of February – which coincides with the birthdays of Abraham Lincoln and…

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U.S. Existing-Home Sales Surged 14.5% in February; Northeast Sales Rose 4%

March 21, 2023

WASHINGTON—Existing-home sales reversed a 12-month slide in February, registering the largest monthly percentage increase since July 2020, according to the National Association of Realtors. Month-over-month sales rose in all four major U.S. regions. All regions posted year-over-year declines. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, vaulted 14.5% from January…

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Westchester County Looking for Large Block of Space for DOH Offices

March 20, 2023

WHITE PLAINS—Commercial property owners and developers in Westchester have until May 15 to submit proposals for leasing new office space that will be used by the Westchester County Department of Health. Details about space requirements are listed in a recently released RFP (Request for Proposals). Primarily the new office space will be used to consolidate…

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New York Area Residential Sale Price Fell 4.40% in February

March 20, 2023

FARMINGDALE—OneKey MLS has reported a regional closed median sale price of $550,000 in February 2023 for the New York area residential market, representing a 4.40% decrease as compared to the reported $575,000 in January 2023. OneKey MLS reported on March 20 that between January 2023 and February 2023, closed regional sales transactions, including residential, condo,…

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Development Boom Continues in Westchester Despite Economic Headwinds

March 20, 2023

WHITE PLAINS—Chief officials from the cities of White Plains, Yonkers and New Rochelle agree that investment interest in new development projects in their respective cities remains high despite higher construction and labor costs and the predictions by some that a recession may be on the horizon. The Building Owners and Managers Association (BOMA) Westchester held…

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Emerging New Post-Pandemic Trends in Office Design and Workspace

March 20, 2023

In the post-Pandemic world, many people have returned to their offices full-time or on a hybrid schedule, and live events from small meetings to large conventions have slowly started to return. While videoconferencing remains a staple in most businesses, more people coming back into an office could mean more reorganization of workspaces. “During the Pandemic,…

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Route 17 Expansion Will Improve Mobility and Enhance Safety

March 20, 2023

By Maureen Halahan and Marc Baez Editor’s Note: This article first appeared in Mid Hudson News (midhudsonnews.com). In business, as in life, we can find ourselves in a rut. The way out may be complex or simple, but it always involves change. That’s the key to moving forward; idling holds you back, and doing nothing…

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