NEW YORK—Zeta Charter Schools has signed a 65,000-square-foot lease deal for a new elementary school at 1910 Arthur Ave. in the Bronx. Called Zeta Bronx Tremont Park Elementary, the school is scheduled to open in August 2021 for the 2021-2022 academic year and will ultimately serve students in pre-K through fifth grade, according to Transwestern…
Read MoreALBANY—Richard Brodsky, one of the most powerful state legislators for nearly three decades, passed away on April 8 at the age of 73. Initial published reports stated that Brodsky died from complications of the Coronavirus, but a family member told the New York Times that the longtime lawmaker passed away from a heart attack and…
Read MoreYONKERS—Great Point Capital Management and National Resources announced on April 7 they had closed a $40-million loan with CIT to complete the financing of Great Point’s first construction project, a major film and television studio complex at the i.Park Hudson complex in Yonkers. The loan is the last step before construction begins on the production…
Read MoreRYE BROOK— SCHOTT Corporation has signed a lease for more than 14,000 square feet of space at Kingsbrook, a recently renovated six building complex located at 1100 King St. in Rye Brook owned by New York City-based George Comfort & Sons, Inc. The international technology company that specializes in the areas of specialty glass and…
Read MoreSLEEPY HOLLOW—Construction is expected to begin next year on a new DeCicco & Sons market at the Edge on Hudson project being developed at the former General Motors Assembly plant here. The deal marks the first retail property to sign on at the Edge on Hudson development and marks the first grocer to operate in…
Read MoreARLINGTON, VA—A Gartner, Inc. survey of 317 CFOs and finance leaders on March 30, 2020 revealed that 74% intend to move at least 5% of their previously on-site workforce to permanently remote positions post-COVID 19. “This data is an example of the lasting impact the current coronavirus crisis will have on the way companies do…
Read MorePORT CHESTER—Anthos Properties of Nanuet has acquired The Castle luxury multifamily development here from institutional investors advised by J.P. Morgan Asset Management for $38.6 million. In connection with the purchase, Anthos Properties secured a $28-million loan with Fannie Mae. The financing was arranged by JLL Capital Markets. Built in 2015, The Castle is a luxury,…
Read MoreYONKERS—Ginsburg Development Companies has added to its portfolio of multifamily properties in the Greystone section of Yonkers with the recent purchase of the Stratus on Hudson, a 74-unit luxury rental building located at 1077 Warburton Ave. GDC purchased the property in Northwest Yonkers from Stamford, CT developer Randy Salvatore’s RMS Companies who completed the building…
Read MoreNEW YORK—- Innovo Property Group and Square Mile Capital Management LLC have obtained construction financing totaling $305 million for their development of a one million square foot two-story Class A logistics and distribution facility at 2505 Bruckner Blvd. in the Bronx. The construction loans were provided by Bank OZK and the structured finance platform of…
Read MoreWHITE PLAINS—In an ongoing effort to create stronger member engagement, awareness and communication in a continually growing association, the HGAR leadership is expanding the role of its five regional directors covering Westchester, Putnam, Rockland and Orange counties, as well as Manhattan. “As our membership and our territory increases in size, we think it’s very important…
Read MoreALBANY—Less than 24 hours after the real estate industry was led to believe that in-person real estate showings were permitted by New York State comes a statement from Empire State Development that only virtual/online showings are permissible. On the evening of April 2, an official with Empire State Development Corp. in a clarification of the…
Read MoreNEW YORK—Most private construction in New York State, including major development projects in New Rochelle, Yonkers and White Plains, have been temporarily shut down as a means to prevent the spread of the Coronavirus Pandemic. At a press briefing at the Javits Center in New York City on March 27, New York Gov. Andrew Cuomo…
Read MoreNEW ROCHELLE—RXR Realty announced on March 31 that the Louis R. Cappelli Foundation had pledged $200,000 to RXR’s COVID relief efforts in New Rochelle, for a total of $1.2 million to support organizations helping New Rochelle residents impacted by the COVID-19 public health crisis. Funding will go towards programs to address both immediate needs, as…
Read MoreLOUDONVILLE, NY—New Yorkers overwhelmingly approve of the job Governor Andrew Cuomo is doing to address the coronavirus pandemic, 87%-11%, according to a newly released Siena College poll. They also give overwhelmingly high marks to their local health department, Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, as well as…
Read MoreALBANY—Gov. Andrew Cuomo ordered the closure of all offices for non-essential businesses on March 20 and indicated that all showings and open houses are also prohibited. Previously, the governor limited staffing to 50%, followed by 75%, and now 100% workforce reduction in non-essential business offices per his order on March 20. The governor specifically mentioned…
Read MoreNEW YORK—Landlord agents can continue to collect commissions or brokerage fees from landlords at least until June 12. The New York Attorney General Letitia James requested, and was granted, an extension of the temporary restraining order that the New York State Association of Realtors, the Real Estate Board of New York and others filed in…
Read MoreWASHINGTON—Existing-home sales climbed substantially in February after a slight decline in January, according to a report released by the National Association of Realtors on March 20. Of the four major regions, only the Northeast reported a decrease in sales (-4.1%), while other areas saw increases, including sizable sales gains in the West. Total existing-home sales…
Read MoreWASHINGTON—Nearly half of Realtors—48%—said home buyer interest had decreased due to the coronavirus outbreak, according to a new survey from the National Association of Realtors released on March 19. That percentage tripled from a week earlier when it stood at 16%. Almost seven in 10 Realtors—69%—said there’s no change in the number of homes on…
Read MoreWHITE PLAINS—A panel of veteran Hudson Valley commercial real estate brokers agreed that the commercial office and industrial markets were strong entering 2020 and were prime for continued brisk activity. Editor’s Note: The meeting of the Hudson Gateway Association of Realtors Commercial Investment Division’s Broker Roundtable was held in late January, before the onset of…
Read MoreALBANY—The New York State Association of Realtors posted online the latest guidance regarding the regulations impacting the real estate industry in connection with Gov. Andrew Cuomo’s executive orders in connection with preventing the spread of the Coronavirus. The FAQ (Frequently Asked Questions) issued by NYSAR effective at 5 p.m. on March 24 answered a host…
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