WHITE PLAINS—Due to rising construction costs, The Board of Directors of Westchester County’s Local Development Corporation (LDC) voted on Aug. 24 to approve a developer’s application to amend the LDC’s previous preliminary approval of tax-exempt bond financing for the development of a senior learning community on the SUNY Purchase campus. The LDC Board approved increasing…
Read MoreWHITE PLAINS—A nearly five-acre development site on Post Road in White Plains has been acquired by the ever-expanding White Plains Hospital for $38 million. The deal for the former site of the Scholz car dealership at 77 W. Post Road was announced by commercial brokerage firm CBRE. The seller of the property is a partnership…
Read MoreWASHINGTON—Existing-home sales rose in July, marking two consecutive months of increases, the National Association of Realtors reported on Aug. 23. Three of the four major U.S. regions recorded modest month-over-month gains, and the fourth remained level. Figures varied from a year-over-year perspective as two regions saw gains, one witnessed a decline and one was unchanged.…
Read MoreYONKERS—The Yonkers Industrial Development Agency has announced that its Board of Directors voted at its August 17th meeting final approval of financial incentives for two new residential development projects—Horizon at Ridge Hill and Hudson Hill. The two projects represent a total private investment of approximately $129 million and are expected to create 183 construction jobs.…
Read MoreWHITE PLAINS—Pacific Western Bank and Square Mile Capital Management have together provided $181.91 million in funding for the redevelopment of the former AT&T building in Downtown White Plains into a multifamily housing development. The project includes the redevelopment of a vacant office building at 440 Hamilton Ave. to become a 13-story Class A multifamily building,…
Read MoreNEW YORK—Manhattan’s office market showed clear signs of breaking out of the pandemic shutdown during the second quarter of 2021, as leasing activity increased on the strength of several large deals signed. Officials with commercial real estate brokerage firm Transwestern Real Estate Services note that while the market is not back to pre-pandemic levels, availability…
Read MoreDespite the recent uptick in Delta variant COVID cases in the New York metro area, New York City is essentially open for business. Most Broadway theaters are reopening in September, restaurants and bars are now allowing vaccinated patrons to dine indoors and the residential real estate market is back in full swing. New developments are…
Read MoreNYACK—Christie's International Real Estate Westchester | Hudson Valley recently announced the opening of its new, state of the art sales gallery in Nyack, as part of the company’s ongoing expansion in the southern New York region. The new sales gallery is located in a prime location at 2-4 Franklin St. Christie’s has experienced great success…
Read MoreDuring the COVID-pandemic, Brown Harris Stevens Chief Executive Officer Bess Freedman has participated in several webinars hosted by the Hudson Gateway Association of Realtors and OneKey MLS and offered some frank assessments of market conditions, as well as her views on lockdowns and tax policies and their impacts on the market. In preparing for this…
Read MoreNEW YORK—Harbor Group International, LLC, a privately owned international real estate investment and management firm headquartered in Norfolk, VA, has entered into an agreement to acquire 51 W. 52nd St. in Midtown Manhattan for $760 million. Known as the “CBS Building” or “Black Rock,” this purchase marks the first sale since it opened in 1964.…
Read MoreCHESTER—Locally-based Keller Williams Realty: First in New York reported that its new office in Newburgh has launched operations recently, the result of the firm’s prior acquisition of the top-producing “Licensed2Sell Team,” which consists of eight agents led by veteran Realtors Dickie Baxter and Vinny Reda. The firm’s new office is located at 254 Route 17K,…
Read MoreWHITE PLAINS— Westchester Residential Opportunities, Inc., a non-profit fair housing agency based in White Plains, announced on Aug. 11 it had filed a housing discrimination complaint against Albany-based Dawn Homes Management and DHM Properties, the manager and owner of at least 36 apartment buildings in New York, Massachusetts and Connecticut. The complaint, filed with the…
Read MoreNEW YORK—After his attorney provided a detailed point-by-point rebuttal of allegations by 11 women of improper conduct and sexual harassment, Gov. Andrew Cuomo, somewhat surprisingly, announced he would resign from office effective in 14 days (Aug. 24). While he said that his instinct is to fight the charges because he felt they were politically motivated,…
Read MoreWHITE PLAINS— At a press conference yesterday afternoon, Westchester County Executive George Latimer attempted to dispel the online myth that many people are fleeing the county. To prove his point, he enlisted key representatives of the Hudson Gateway Association of Realtors who, armed with the latest sales data from OneKey MLS, noted that demand from…
Read MoreRYE 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…
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