Joseph Patrick Kelleher, a veteran commercial real estate executive and former chairman of the Bronx Chamber of Commerce, died on Nov. 25. He passed away at home surrounded by his wife and two children. The cause of death was Glioblastoma, an aggressive brain cancer. Kelleher was diagnosed in May 2022. He was born in New…
Read MoreWHITE PLAINS—Hudson Gateway Association of Realtors President Anthony Domathoti announced on Nov. 22 in an e-mail message to the association’s membership that the Executive Committee had appointed HGAR Chief Operating Officer Jana Currier as Interim Chief Executive Officer. The appointment was necessitated by the impending departure of longtime HGAR Chief Executive Officer Richard Haggerty, who…
Read MoreWASHINGTON—Existing-home sales retreated for the ninth straight month in October, according to the National Association of Realtors. All four major U.S. regions registered month-over-month and year-over-year declines. Northeast home sales fell 6.6% last month as compared to September 2022 and 23% from October 2021. Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and…
Read MoreALBANY—The New York State Association of Realtors has announced that 12 NYSAR members have been selected for its Leadership Academy. Four members of the Hudson Gateway Association of Realtors have been selected to participate in Leadership Academy #6 in 2023—Brian Anthony Phillips, T. Teresa Belmore, Robin Ham and Veronica Suarez. Other Hudson Valley area Realtors…
Read MoreHASTINGS-ON-HUDSON—The burgeoning movie and television production industry in the Hudson Valley could be getting larger as a major “green” television-movie studio project in Hastings-on-Hudson is now in the approval process. Executives with Atlanta-based Electric Owl Studios made a presentation before the village’s Board of Trustees last evening (Nov. 15) on its $100-million television/movie studio project…
Read MoreNEW YORK—OneKey MLS reported a 2.50% decrease in the closed median residential sale price between September and October 2022 in its nine-county Hudson Valley/New York City regional market area. For October 2022, OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease as compared to the reported $599,999 in September…
Read MoreWASHINGTON—An overwhelming majority of metro markets saw home price gains in the third quarter of 2022 despite mortgage rates that approached 7% and declining sales, according to the National Association of Realtors’ latest quarterly report released on Nov. 10. Forty-six percent of the 185 tracked metro areas registered double-digit price increases, down from 80% in…
Read MoreSANTA CLARA, Calif., Nov. 7, 2022 /PRNewswire/ -- A record number of Americans became real estate agents in recent years. It can be a challenging career for newcomers, and the early struggles to find success means only 4 in 10 new real estate professionals are confident about having a long-term career in real estate, according…
Read MorePORT CHESTER—The Hudson Companies announced on Nov. 9 that it had closed on the acquisition of a fully-entitled development parcel at 27-45 North Main St. and 28 Adee St. in the Village of Port Chester. Company officials said plans for the site call for a mix of rental housing, retail space, and community facilities. The…
Read MoreWASHINGTON—When compared to a year ago, the share of first-time home buyers dropped to a record low, while the age of a typical first-time buyer increased to an all-time high, according to a report released on Nov. 3 by the National Association of Realtors. The median distance buyers moved from their previous homes more than…
Read MoreWHITE PLAINS—A panel of regional commercial developers offered a mixed outlook for the sector with somewhat optimistic forecasts for the medium- and long-term for Westchester County and the surrounding suburban markets, but a much darker view on prospects for the short term. One developer put it simply: “The federal government is undoubtedly trying to shut…
Read MoreWHITE PLAINS—The long-promised redevelopment plan for The Galleria at White Plains, which was the focal point of the urban renewal of the downtown district in the late 1970s and early 1980s, is taking shape. While details are still sketchy at best, the owner of the 870,000-square-foot, four-level retail property—Pacific Retail Capital Partners and Aareal Bank—announced…
Read MoreWASHINGTON—When it comes to real estate technology, Realtors said that eSignature, lockbox, and apps and technology from their local multiple listing service were the most impactful tools for their businesses this past year. These findings appear in the 2022 Technology Survey from the National Association of Realtors released on Nov. 1. The survey examined NAR…
Read MoreNEW ROCHELLE—Building on the leasing success of The Stella luxury high-rise, the development team of LMXD, an affiliate of L+M Development Partners, and WBP Development, have announced the debut of Twenty Five Maple, a boutique mid-rise residential rental apartment building in the heart of downtown New Rochelle. The property, currently under construction, will feature 184…
Read MoreNEW ROCHELLE—City of New Rochelle and Westchester County officials joined with the Cappelli Organization recently to celebrate the grand opening of 3THIRTY3, a 28-story tower featuring 285 luxury apartments. Located at 333 Huguenot St. in the heart of downtown New Rochelle, 3THIRTY3 has seen strong demand. Since the start of leasing a few months ago,…
Read MorePORT CHESTER—It appears that plans to redevelop the long-shuttered United Hospital property off Route 1 in Port Chester can finally proceed to construction in 2023 after nearly two decades of false starts and community opposition that prevented shovels turning dirt on the venture. Rose Associates and BedRock Real Estate Partners announced they recently secured final…
Read MoreWASHINGTON—Pending home sales fell for the fourth consecutive month in September, the National Association of Realtors reported on Oct. 28. All four major regions recorded month-over-month and year-over-year declines in transactions. The Pending Home Sales Index (PHSI) slumped 10.2% to 79.5 in September. Year-over-year, pending transactions slid by 31.0%. An index of 100 is equal…
Read MoreTARRYTOWN—At its 106th Annual Meeting, held on Oct. 24 at the Sleepy Hollow Hotel & Conference Center in Tarrytown, the Hudson Gateway Association of Realtors (HGAR) awarded Gail Fattizzi, Regional Manager of ERA Insite Realty Services in White Plains, as its “Realtor of the Year” for 2022. Brian Tormey, President of TitleVest Agency in Manhattan…
Read MoreNEW YORK—As Manhattan’s luxury real estate market continues to rebound, top minds in the industry will come together on Nov. 2 at Chelsea’s High Line Nine to take an in-depth look at the state of the market, discuss top trends, and provide analysis and predictions for the first quarter of 2023 and beyond. The program,…
Read MoreNEW YORK—Commercial brokerage firm CBRE reports that the New York Tri-State was one of the top markets for data center leasing activity during the first half of 2022. As a result of robust activity and strong demand, the vacancy rate fell to an all-time low of 9.0%. “The financial services sector remained the dominant player…
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