News

What You Need to Know About the New Standard Operating Procedures (SOPs)

April 11, 2022

There are a lot of questions and concerns from our members relating to the newly instituted Standard Operating Procedures (SOPs). This month’s article can serve as a “cheat sheet” on the basics and, hopefully, will answer many of your questions. NYSAR’s SOPs template can be found here. • The new SOPs requirement is effective April…

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SPOTLIGHT ON: Bart D’Andrea

April 11, 2022

A Bittersweet Farewell to REID’s Graphic Designer of 44 Years For the past 44 years, Bart D’Andrea has been the “man behind the scenes” of Real Estate In Depth and its predecessor publication Westchester Realtor—planning the newspaper layout, designing ads, and basically creating the look and feel of the Association’s award-winning publication. But this April…

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MIPIM 2022 Conference Focused on ‘Driving Urban Change’

April 11, 2022

Editor’s Note: A contingent of Hudson Gateway Association of Realtors members and staff attended the MIPIM 2022 conference in Cannes, France from March 15-March 18. Using the theme of “Driving Urban Change,” MIPIM organizers offered information about making communities more sustainable, livable, affordable and resilient in the wake of COVID-19. Organizers appealed to the real…

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Orange County IDA Launches Shovel Ready Development Site Initiative With RFQ Release

April 8, 2022

GOSHEN—The Orange County Industrial Development Agency in an attempt to secure new shovel-ready development sites has launched an initiative aimed at creating the link between infrastructure, zoning, land use and economic development opportunities in a cost-efficient manner. The IDA states that its intent is to maximize the economic benefit of potential projects involving both re-use…

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National Resources Secures $230M Refinancing For New Lionsgate Studio Project in Yonkers

April 6, 2022

YONKERS—Greenwich, CT-based development firm National Resources has secured a $230-million refinancing deal for Lionsgate Studios Yonkers, a 500,000 square foot, state-of-the-art film production complex at 28 Wells Ave. in Yonkers. The deal was announced on April 4 by JLL Capital Markets, which worked on behalf of the borrower, National Resources to originate the five-year, fully…

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Westchester County IDA Votes to Grant Preliminary, Final Approvals of Incentives for White Plans Multifamily Projects

April 4, 2022

WHITE PLAINS—At its latest session, the Westchester County Industrial Development Agency has voted preliminary and final approvals of financial incentives for the construction of a pair of multifamily residential projects in Downtown White Plains. The two projects—70 Westchester Avenue and 51 South Broadway—represent a total private investment of $171 million and are expected to create…

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Ukrainian-American HGAR Member Launches Fundraiser for Ukraine

April 1, 2022

IRVINGTON—Luba Sydor, a Ukrainian-American Realtor with Houlihan Lawrence’s Irvington office, has launched a fundraising campaign for medical and military supplies for Ukraine’s Dnipro Territorial Defense Battalion, as Russia continues to wage war on the country. Sydor has established a special Amazon.com shopping list as a convenient way for people to donate much needed supplies: https://www.amazon.com/registries/custom/38Z8HUOB4WHKG…

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MJHS Health System Inks Major Lease Deal at 55 Water St.

March 31, 2022

NEW YORK—In what commercial brokers say is the largest new lease transaction in Downtown Manhattan during the past 18 months, MJHS Health System has signed a 138,374-square-foot office lease at 55 Water St. in Downtown Manhattan. CBRE, which arranged the 30-year lease transaction, reports that MJHS will be consolidating most of its Brooklyn offices as…

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U.S. Pending Home Sales Dwindle 4.1% in February; Northeast Post Slight Increase in Pending Deals

March 31, 2022

WASHINGTON— Pending home sales slipped in February, marking four consecutive months of transaction decreases, according to the National Association of Realtors. Three of the four major U.S. regions saw contract signings fall month-over-month, with the Northeast being the only area that reported an increase. All four regions registered a decline in year-over-year contract activity. The…

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Mortgage Rates Increase to Highest Level in More Than Three Years

March 31, 2022

WASHINGTON—Mortgage applications decreased 6.8% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending March 25, 2022. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the…

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City of Yonkers Breaks Ground on $76 Million Justice Sonia Sotomayor Community School

March 28, 2022

YONKERS—A host of state and local officials joined Yonkers Mayor Mike Spano, Yonkers Board of Education, Superintendent of Schools Dr. Edwin M. Quezada on Friday for the groundbreaking of the Yonkers Public School District’s new Justice Sonia Sotomayor Community School. To be dedicated to Supreme Court Justice Sotomayor, the new school located at 73 Lawrence…

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Five Questions With Hudson Valley Pattern for Progress CEO Adam Bosch

March 24, 2022

Recently, a new leader took the helm of what some in the business community consider the Hudson Valley’s very own think tank—Hudson Valley Pattern for Progress. The Board of Directors at Pattern for Progress appointed Adam Bosch, 39. to be the organization’s next president and chief executive officer, replacing Jonathan Drapkin, who had led the…

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NAR: Millennials Remain Dominant Home Buyer Generation with 43% Market Share

March 24, 2022

WASHINGTON—The share of millennial home buyers increased significantly over the past year. They are also the most likely generation to use the Internet to find the home they ultimately purchase and most likely to use a real estate agent, according to a report released by the National Association of Realtors on March 23. The 2022…

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