WHITE PLAINS—Realtors in the Hudson Gateway Association of Realtors’ market area that includes the lower Hudson Valley region, adapted to state-imposed restrictions early in the pandemic and rode the wave of pent-up buyer demand to post sales increases as compared to 2019 activity. Sales in Westchester, Rockland, Orange, Sullivan and Putnam counties soared in the…
Read MoreWASHINGTON—U.S. Sen. Charles Schumer, who later this month will be designated as the U.S. Senate Majority Leader, revealed on Jan. 14 that he recently held a virtual meeting with incoming U.S. Department of Transportation Secretary Pete Buttigieg and urged him to prioritize federal infrastructure funding towards construction projects, including the estimated $500-million expansion of Route…
Read MoreENGLEWOOD CLIFFS, NJ—Locally-based Plawker Real Estate, one of Bergen County’s leading brokers, recently announced that it has joined forces with real estate brokerage firm Howard Hanna Rand Realty. The Plawker Real Estate office at 601 Palisade Ave. in Englewood Cliffs will now operate as Howard Hanna Rand Realty – Plawker Group. Additionally, the Plawker Commercial…
Read MoreELMSFORD—Robert Martin Company announced recently that PTI, a leader in advanced manufacturing technologies, has signed a lease for 13,650 square feet of expansion space at 8 Skyline Drive at the Mid-Westchester Executive Park in Hawthorne. PTI, which manufactures non-destructive package inspection technologies for the pharmaceutical, medical device and food industries, previously signed a lease for…
Read MoreYONKERS—City of Yonkers officials and executives from the Municipal Housing Authority for the City of Yonkers and The Community Builders gathered on Jan. 11 for the demolition of a 1940’s era public housing apartment building that is being replaced with 178 Warburton at The Ridgeway, a new $56-million mixed-income residential complex of 81 apartment homes.…
Read MoreOn Jan. 8, Gov. Andrew Cuomo said he would be proposing an extension of the commercial tenant eviction moratorium and measures geared to strengthening protections for rental apartment tenants during the coronavirus pandemic. The proposals, part of the governor’s upcoming State of the State address, will advance legislation to codify an existing Executive Order to…
Read MoreSADDLE BROOK, NJ—New York City-based Spaxel LLC, a multifamily developer and operator, has acquired two multifamily portfolios totaling 24 properties in Northern New Jersey for $92.5 million. The deal totaling 702 units, announced by brokerage firm Marcus & Millichap, was one of the largest 2020 multifamily sales transactions in 2020. Spaxel has a significant portfolio of…
Read MoreWASHINGTON, DC – The U.S. Department of Labor today announced on Jan. 6 a final rule clarifying the standard for employee versus independent contractor status under the Fair Labor Standards Act. “This rule brings long-needed clarity for American workers and employers,” said U.S. Secretary of Labor Eugene Scalia. “Sharpening the test to determine who is…
Read MoreIn a briefing with reporters earlier today (Jan. 6), Gov. Andrew M. Cuomo announced he will propose legislation to authorize mobile sports wagering as part of his 2021 State of the State message. He will also once again advocate for the legalization of recreational marijuana in New York State as part of his State of…
Read MoreWHITE PLAINS—A panel consisting of brokers and affiliated professionals in the commercial real estate market were optimistic that the industry in Westchester and surrounding markets will rebound once the coronavirus pandemic has run its course. The panelists agreed that the multifamily housing sector will continue to be strong in Westchester once vaccines have been administered…
Read MoreWHITE PLAINS—The see-saw year, aka 2020, ended on an astonishingly high note for real estate practitioners in the Lower Hudson Valley, according to the 2020 Fourth Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland, Orange, Sullivan, and Bronx counties released on Jan. 5 by OneKey MLS. After experiencing strong first quarter sales, agents…
Read MoreNEW YORK—HGAR's new Bronx office, headed by Eliezer Rodriguez, along with volunteers from the Castle Hill YMCA, distributed toys to more than 500 children on Christmas morning. Some Bronx children who received toys from "Operation Realtors’ Kids." HGAR's Bronx office becomes Santa's Workshop. This is the ninth year for "Operation Realtors' Kids" that brings…
Read MoreYONKERS—Building on the momentum of a very active 2019, the Yonkers Industrial Development Agency reported on Jan.4 it had provided financial incentives in 2020 to residential and commercial projects representing a total private investment of approximately $210 million. The developments are projected to create 450 new residential units, 129,000 square feet of commercial and industrial…
Read MoreALBANY—New York State Senator Pete Harckham and Assemblywoman Sandy Galef announced on Jan. 1 that three bills the two legislators sponsored relating to ensuring workforce protections and financial assistance to local municipalities and taxpayers while the Indian Point Energy Center undergoes its decommissioning process, had been signed into law by Governor Andrew Cuomo. The new…
Read MoreARMONK—The Building & Realty Institute announced recently it has named the first female President in the institute’s 75-year history—Lisa DeRosa, president of DeRosa Builders, Inc. of White Plains. DeRosa has been active in the BRI for years. DeRosa served as a vice chair of the BRI’s Apartment Owners Advisory Council from 2016 to 2020 and…
Read MoreALBANY—After the State Legislature met in special session on Monday, Dec. 28 and the Assembly and Senate approved the bill, Gov. Andrew M. Cuomo signed the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 later that day. The bill (S.9114/A.11181) prevents residential evictions, foreclosure proceedings until May 1, 2021 and also prohibits credit discrimination…
Read MoreDANBURY, CT—In the largest office lease deal in Connecticut this year, Nuvance Health Systems has signed a 220,000-square-foot lease at the former 1.2-million-square-foot Union Carbide property in Danbury. The 12-year lease deal at “The Summit at Danbury” will reportedly bring 500 jobs from New York State across the border to Connecticut. In an announcement by…
Read MoreALBANY—The New York State Legislature is meeting today in special session to vote on and approve the COVID-19 Emergency Eviction and Foreclosure Prevention Act, which it describes as the strongest bill of its kind in the nation. The legislation will extend an eviction moratorium on residential tenants until May 1. The State Assembly and Senate…
Read MoreWASHINGTON—Existing-home sales fell in November, snapping a five-month streak of month-over-month gains, according to a report released on Dec. 22 by the National Association of Realtors. All major regions either took a step back or held steady in terms of their respective month-over-month status, but each of the four areas experienced significant year-over-year growth. Total…
Read MoreWASHINGTON—With a bipartisan spending and COVID relief deal now passed by Congress, U.S. Senator Charles Schumer detailed its pending impact on Upstate New York as more than $54 billion. The deal includes direct stimulus checks, extending enhanced unemployment insurance, and secures another round of forgivable PPP for small businesses, restaurants and nonprofits across the state.…
Read More