PEARL RIVER—Rockland County Executive Ed Day and Economic Development Director Jeremy Schulman reported today that NY Critical Materials LLC, a manufacturer of Personal Protective Equipment (PPE) will be leasing more than 50,000 square feet of space at the former Pfizer complex now known as the New York Center for Innovation. The firm, a subsidiary of…
Read MoreNEW YORK— Extreme Department Store has signed a 10-year lease for 15,003 square feet at Concourse Plaza in the Bronx, announced New York City-based The Feil Organization, the shopping center’s owner and manager. The new lease comes relatively shortly after a tenant vacated the space. The department store will be situated on the ground floor…
Read MoreHAWTHORNE—The Mount Pleasant Industrial Development Agency has approved approximately $3.8 million in sales tax exemptions for the construction of a 153,062-square-foot e-commerce distribution center located at 211 Saw Mil River Road (Route 9A) in Hawthorne that will cost nearly $100 million to develop. The project, which received approval at the IDA’s April 21 meeting, represents…
Read MoreWASHINGTON—Existing-home sales fell in March, marking two consecutive months of declines, according to the National Association of Realtors. The month of March saw record-high home prices and gains. While each of the four major U.S. regions experienced month-over-month drops, all four areas posted year-over-year gains in home sales. The median existing-home sales price in March…
Read MoreWHITE PLAINS—Representatives of Regeneron Pharmaceuticals, Inc. made a presentation to the Westchester County Industrial Development Agency this morning on an amended expansion plan for property in the Town of Greenburgh that will involve a total of nearly a half billion dollars of investment. Janet Giris, a partner with the law firm DelBello, Donnellan & Weingarten,…
Read MoreTOWN OF WALLKILL—President Container Group broke ground on April 21 on a $40-million expansion project that upon completion will make its Ballard Road complex one of the largest corrugated manufacturing facilities in North America. A host of state, county and local government officials were on hand for the event that signaled the first turning of…
Read MoreNANUET—The Birch Group, which is headquartered in Nanuet, has acquired an office portfolio of more than 840,000 square feet in Short Hills, NJ from Mack-Cali Realty Corp. in an off-market deal valued at $255 million. Last month, the Birch Group acquired an office portfolio in Morristown, NJ from Lincoln Equities Group for $77 million and…
Read MoreNEW YORK—Top real estate professionals joined social media strategists to talk tech and give a download on the latest trends industry professionals can use to manage transactions, attract clients and close deals at a virtual panel on April 15 hosted by the Hudson Gateway Association of Realtors, Inc. (HGAR) and OneKey MLS. Hundreds of industry…
Read MoreVALLEY COTTAGE—A partnership of Lincoln Equities and PCCP LLC has acquired a fully leased, three-building, light industrial portfolio totaling 260,755 square feet along with an adjacent 23-acre development parcel for $53.5 million. The Rockland County-based complex was sold by Sasson Real Estate Group and Garelick Holdco LLC. Commercial brokerage firm JLL marketed the property on…
Read MoreTARRYTOWN—Wilder Balter Partners Inc. of Chappaqua has acquired the iconic YMCA building in Tarrytown for $6.45 million and plans to redevelop the property into affordable housing project. The development firm plans to convert the four-story brick building at 62 Main St. into 109 units of affordable housing. The project will also feature additional parking for…
Read MoreNEW YORK—SUNY Empire State College has relocated its classrooms from its Hudson Square campus to 29,747 square feet of space at Four Park Ave., according to property owner and manager The Feil Organization. A multi-use building featuring residential, office and retail, Four Park Avenue is situated at the 33rd Street to 34th Street blockfront in…
Read MoreWhile the pandemic brought portions of the region’s economy to a halt in March 2020, the development activity in the Hudson Valley’s major cities went on a short pause, but picked up steam shortly thereafter. So far in 2021, construction continues on major projects in White Plains, New Rochelle, Yonkers and elsewhere on many mixed-use…
Read MoreWASHINGTON—A newly released survey from the National Association of Realtors reveals that home staging continues to be a significant part of the home buying and selling process. The biennial report, the "2021 Profile of Home Staging" released on April 6, examines the elements of home staging, including the perspectives of both buyers' and sellers' agents,…
Read MoreA little more than a year ago, White Plains Mayor Thomas Roach presided over a city that was enjoying a renaissance of new development projects in its Downtown District that promised to reshape the city’s skyline and economy for years to come. Fast forward to April 2021 and while the COVID-19 pandemic still infects and…
Read MoreThe cities of Peekskill in Westchester County and Newburgh in Orange County may be smaller than other major cities in the Hudson Valley, but both have some big development plans in the works. Peekskill, which has seen major changes over the past 10 years, is gearing up to add five new affordable and market rate…
Read MoreAt the end of April, the Hudson Valley will bid farewell to an entity both loved and loathed in our region for almost 60 years—the Indian Point nuclear power plant in the Village of Buchanan in northern Westchester County. After providing power to the lower Hudson Valley since 1962, the third and final reactor—Indian Point…
Read MoreWHITE PLAINS—Westchester County Executive George Latimer released the county’s top federal legislative requests on April 12 and tops on the list is the repeal of the State and Local Tax (SALT) cap. The legislative priorities list sent to the Westchester Congressional delegation also included support for President Biden’s proposed infrastructure spending plan and a list…
Read MoreALBANY—New York State Supreme Court Judge Susan Kushner issued a ruling that is being viewed as a major victory for the real estate industry, terming Department of State guidance that banned New York State apartment tenants from paying broker fees “an error of law.” The ruling, first reported by The Real Deal, was handed down…
Read MoreALBANY—The annual NYSAR Lobby Day event will be held virtually due to the COVID-19 pandemic. The conventional program will be held on Tuesday, April 27 from 8 a.m. to noon. In advance of Lobby Day, HGAR’s Legislative Council has advanced a preliminary Public Policy Priorities Agenda for HGAR’s Westchester, Putnam, Orange, Rockland, Bronx and Manhattan…
Read MoreWHITE PLAINS—Officials with OneKey MLS and the Hudson Gateway Association of Realtors described first quarter 2021 residential sales in Westchester, Putnam, Rockland, Orange, Sullivan, and Bronx counties as “staggering” and “unprecedented” with sales in certain markets as much as 62% higher than a year earlier. Editor’s Note: The following is the full text of the…
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