NEW YORK—Residents who fled New York City during the early days of the pandemic, particularly the wealthiest neighborhoods, are beginning to return. New York City Comptroller Scott Stringer released a comprehensive analysis earlier this week (Nov. 15) of the pandemic’s impact on monthly migration patterns into and out of the city. Using data published by…
Read MoreYONKERS, NY— “A Sure Bet for New York’s Future” Alliance, along with state and local elected officials and community partners, held a rally on Nov. 17 outside of Empire City Casino by MGM Resorts to demonstrate strong community support for New York State to introduce a process that can quickly award downstate full-scale commercial casino…
Read MoreNEW YORK— Christie’s announced on Nov. 17 that it is selling its Christie’s International Real Estate business to Chicago-based real estate brokerage and technology firm @properties, and entering into a long-term global brand license agreement with the company. The new strategy for Christie’s International Real Estate is designed to build upon the success of the…
Read MoreTARRYTOWN—The Hudson Gateway Association of Realtors held its 105th Annual Member Appreciation Day and Annual Meeting on Monday, Oct. 25 at the Sleepy Hollow Hotel and Conference Center here that was highlighted by the acknowledgement of Realtor Anthony Domathoti of EXIT Realty Premium of the Bronx as the organization’s 2022 President. At its 105th Annual…
Read MoreCHICAGO—The National Association of Realtors announced on Nov. 15 the adoption of changes to its guidance for local Multiple Listing Service broker marketplaces that reinforce greater transparency for consumers. The changes ensure disclosure of compensation offered to buyer agents, ensure listings are not excluded from search results based on the amount of compensation offered to…
Read MoreNEW YORK—The development team led by ELH Mgmt. LLC; The Kretchmer Companies; Xenolith Partners LLC and JASA, along with HPD; HDC; and NYCHA; celebrated the groundbreaking of a new senior housing development, Casa Celina on Oct. 19. Located on NYCHA’s Justice Sonia Sotomayor campus in the Soundview neighborhood of the Bronx, the 100% affordable project,…
Read MoreNEW YORK—It’s a “tale of two markets” for Bronx rentals. Sweeping regulations, shutdowns, and economic stimulus have had little effect on slowing the upward rent trajectory for New York City apartments, which once again have the nation’s most expensive rent. Meanwhile in the Bronx, where asking rents have reached peak levels with a median ask…
Read MoreWHITE PLAINS—The March of Dimes Greater NY Market held the 34th Annual Real Estate Awards Breakfast on Nov. 4th at the Opus Westchester in White Plains. The event shattered its fundraising goal, raising more than $1 million to support the March of Dimes’ mission to improve the health of moms and babies. Two visionary commercial…
Read MoreNEW YORK—The Hudson Gateway Association of Realtors, for the second year in a row, has been honored with the Gold Global Achievement Award from the National Association of Realtors. This award acknowledges that HGAR’s Global Business Council has demonstrated a solid level of service to its global members throughout 2021. The HGAR Global Business Council…
Read MoreThe mere mention of Arthur Avenue in the Bronx can often conjure up images of piping hot pasta with home-made tomato sauce, fresh colorful produce, crispy warm breads or rows of cannoli’s, stuffed with gooey cream and chocolate chips. Now part of the Belmont Business Improvement District (BID), this world-famous culinary destination has been home…
Read MoreNEW YORK—Vector Group Ltd. announced on Nov. 8 that residential brokerage firm Douglas Elliman Inc. plans to file a Form 10 registration statement with the United States Securities and Exchange Commission in connection with its intended spin-off into a standalone, publicly traded company. The planned spinoff and IPO could take place as early as the…
Read MoreSUFFERN—Locally-based Castle Lanterra Properties has acquired two Class A communities totaling 316-units in West Hempstead and Hempstead, NY for $136 million. The transaction was reported by JLL Capital Markets on Nov. 3. JLL marketed the properties on behalf of the seller. Castle Lanterra Properties, which is headquartered in Suffern, acquired the assets. The portfolio consists…
Read MoreNEW YORK—New York Gov. Kathy Hochul announced on Nov. 3 the completion of a $47.9-million supportive and affordable housing complex in the Claremont Village section of the Bronx that will serve individuals experiencing chronic homelessness, including those with a serious mental illness, veterans with disabilities, and the elderly. Supported with $6.5 million through the Homeless…
Read MorePEARL RIVER—Industrial Realty Group (IRG), the owner of the former Pfizer complex in Pearl River, has rebranded the property as the “Hudson Valley iCampus” and has hired commercial real estate veteran Jamie Schwartz to head the marketing effort to lease and develop new space on the campus. Schwartz, who had spent the past 18 years…
Read MoreSTAMFORD, CT—Philip Morris International will be relocating late next year from Downtown New York City to Downtown Stamford, CT, specifically to the former UBS complex at 677 Washington Blvd. Building owner George Comfort & Sons reported that Philip Morris International has signed a 12-year lease for 71,484 square feet, which encompasses the entire 11th and…
Read MoreWHITE PLAINS—A host of Metro North, as well as state and city officials were on hand for a ceremony on Nov. 1 to mark the completion of the full-scale $95 million renewal of MTA Metro-North Railroad's station in Downtown White Plains. The renovation began in 2018 as part of Metro-North's Station Improvement Initiative to bring…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors reported recently that Michael Malone of Mahwah, NJ has been hired as the association’s new Director of Professional Development. Malone will be responsible for overseeing the Hudson Gateway School of Real Estate and its course offerings and events. Malone brings 30 years of experience in education and working…
Read MoreALBANY—Wall Street’s run of prosperity extended into the first half of 2021 with $31 billion in pre-tax earnings, beating 2020’s outsized first half profits of $27.6 billion, even as job losses accelerated in New York City’s securities industry, according to State Comptroller Thomas P. DiNapoli’s annual report on Wall St.’s performance released recently. “Wall Street’s…
Read MoreNEW ROCHELLE—Construction is nearing completion on a major mixed-use project in Downtown New Rochelle—“The Stella.” The first residents of the 27-story tower are expected to take occupancy in January 2022. The $190-million project, which is being developed by L&M Development Partners and Wilder Balter Partners, Inc., is comprised of 380 studio, one-, and two--bedroom apartments.…
Read MoreHARRISON—Crow Holdings, a Dallas-based national real estate investment and development firm, reports that its multifamily development company, Trammell Crow Residential, has partnered with Marcus Partners of Boston to develop Alexan Harrison, a 450-unit luxury multifamily residence in Harrison. The project under the firm’s Alexan brand marks Crow Holdings’ and Marcus Partners’ first New York State…
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