The 2020 New York international Air Show, Orange County Airport, Montgomery, NY

The New York Botanical Garden, Douglaston Ink Two Long-Term Ground Leases for Mixed-Use Affordable Projects in the Bronx

NEW YORK—Finalizing a deal announced earlier this year, The New York Botanical Garden and Douglaston Development have closed two separate 99-year ground leases at 2856 Webster Ave. and 410 Bedford Park Blvd. in the Bronx that will in a few years feature affordable housing projects totaling more than 400 units. New York City-based Douglaston states…

Searching for Solutions for a Sick Economy

With the prospect of further coronavirus relief coming from Washington, DC getting bleaker by the moment, state, county and local governments will be facing some harsh fiscal decisions due to the economic fallout from COVID-19 this year and in 2021. Gov. Andrew Cuomo has threatened to withhold 20% of funding earmarked for local governments, hospitals…

First New Hotel in Seven Years Opens for Business in Rockland

SPRING VALLEY—Rockland County Executive Ed Day announced on Sept. 9 the first new hotel to open in the county in seven years—The Element by Westin here. The Element by Westin is located at 90 Spring Valley Marketplace and has already started taking reservations for its 87-room inventory ahead of a soft opening scheduled for today…

Construction Starts on $51 Million Affordable Project in Peekskill

PEEKSKILL—Ground was officially broken on Sept. 9 at Wilder Balter Partners’ $51-million affordable housing project at 645 Main Street in Downtown Peekskill. A host of state, county and city luminaries were on hand for the event signaling the ceremonial start of construction of the 82-unit development. The new affordable complex is reserved for households earning…

LEGOLAND New York on Track for 2021 Opening

In early March, when the Coronavirus began to shutter almost everything in its path, the LEGOLAND New York Resort under construction in Goshen was also forced to push back its planned July 4, 2020 opening date until 2021. LEGOLAND New York and its parent company, Merlin Entertainments, made the decision to postpone the Grand Opening…

HG Realtor Foundation Virtual Walk/Run Challenge Raises More Than $5,000

WHITE PLAINS—The Hudson Gateway Realtor Foundation’s August 28 to 30th virtual Walk/Run Challenge has raised a total of $5,094 to date through walker/runner registrations, sponsorships and donations. The foundation’s funds are used to support local charities and non-profit organizations throughout the Hudson Valley and beyond. During the weekend challenge, individuals and teams could select their…

Turnbridge Finds New JV Partner; Secures $105 Million Loan for Bronx Logistics Center

NEW YORK— Turnbridge Equities reported on Sept. 8 it had entered into a new joint venture with affiliates of Dune Real Estate Partners LP to own and develop the five-parcel assemblage for the future Bronx Logistics Center. The joint venture has secured $105 million in predevelopment financing for the project to be developed in the…

Joseph Rand Named Executive Director Of Broker Public Portal with Homesnap

ARROYO GRANDE, CA—The Board of Managers of the National Broker Portal, a joint venture between Broker Public Portal (BPP) and Homesnap, announced on Sept. 9 that Joseph Rand of Better Homes and Gardens Real Estate|Rand Realty of Nanuet has been named executive director of the Broker Public Portal with Homesnap. Rand will remain the Chief…

Rand Predicts Record Home Closings in September Regionwide

NANUET—While the third quarter 2020 residential sales numbers will not be released by OneKey MLS until next month, Better Homes and Gardens Rand Realty executive Joseph Rand in a sneak preview said the region is currently enjoying a very robust sales market. “The (sales) surge continues,” Rand said. He noted that in August, new deals…

After Legislative Defeat, Rockland County Exec. Threatens Hundreds of Layoffs, Property Tax Hike

NEW CITY—After the Rockland County Legislature narrowly defeated his proposal to increase local sales taxes and sell a shuttered county office building to offset declines in revenues due to COVID-19, Rockland County Executive Ed Day threatened that in response he may be forced to lay off hundreds of county workers and raise taxes by 10%…

Westchester LDC Approves More Than $340M in Bond Financing For Westchester Medical Center and Sarah Lawrence College

WHITE PLAINS—The Board of Directors of Westchester County’s Local Development Corporation (LDC) recently voted to approve more than $340 million in bond financing for two major not-for-profits. At its August 20th meeting, the LDC board unanimously approved $300 million in bond financing for Westchester County Healthcare Corporation, the public authority responsible for governing the Westchester…

Poll Shows Majority of Residents are Concerned State Will Face Large COVID Outbreak in the Fall

LOUDONVILLE, NY—A newly released survey reveals that New Yorkers have deep concerns about the coronavirus in terms of a potential second wave this fall as well as how local school districts and colleges are currently reopening. A poll released today (Sept. 2) by the Siena College Research Institute found that a little over half of…

Construction Begins on 303-Unit Apartment Project in White Plains

WHITE PLAINS—In some good news in the times of COVID-19 for the Westchester County economy, The NRP Group announced on Aug. 31 it had broken ground on a new community of 303 market-rate apartments along the I-287 corridor in White Plains. Situated on a 70-acre site at 1133 Westchester Ave. that previously served as the…

Legends Realty Joins Expanding Corcoran Group

TARRYTOWN—Legends Realty, after nearly 10 years as an affiliate of William Raveis Real Estate, has joined the growing The Corcoran Group, LLC. The brokerage firm, which has locations in Tarrytown, Briarcliff Manor and Irvington, now operates as Corcoran Legends Realty. The launch of the Legends affiliate was announced today virtually by The Corcoran Group President…

Yonkers Mayor Says ‘Rubber has Finally Met the Road,’ Warns of Impending Cuts, Layoffs Due to COVID-19

YONKERS—Citing a need to offset $21.6 million in withheld state aid, Yonkers Mayor Mike Spano is warning the city may need to reduce city programs and services and reduce its workforce by more than 200 positions. Yonkers’ potential cuts come after the city's Fiscal Year 2021 Adopted Budget assumed full Aid and Incentives to Municipalities…

Gateway Tunnel Project Start Delayed One Year

NEWARK—Considered one of the most important infrastructure projects in the New York metro region, the start of construction of the long-delayed Hudson Tunnel project has been pushed back by one year. The Gateway Program Development Corporation released an updated financial plan for the project on Friday. GPDC in its plan noted that the projected start…

Law Firm Relocating Westchester Office to Purchase

PURCHASE—The law firm Milber Makris Plousadis & Seiden, LLP has signed a long-term direct lease deal totaling 25,000 square feet at 100 Manhattanville Road here. The law firm will relocate its Westchester office to the property owned by RPW Group from subleased space in White Plains. Commercial brokerage firm Newmark Knight Frank handled the full…

City of Newburgh Issues RFP for Iconic ‘City Club Building’

NEWBURGH—While Orange County is in the midst of a solicitation for two storied properties on Grand Street here, the City of Newburgh has issued a Request for Proposals on Aug. 24 for developers to redevelop the iconic City Club Building at 120 Grand St. The Mayor’s Strategic Economic Development Advisory Committee, in coordination with the…

After Broad Industry Criticism, FHFA Delays Controversial Refi Loan Fee

WASHINGTON—A little over a week after first proposing a controversial 0.5% Adverse Market Refinance Fee on Fannie Mae and Freddie Mac loans, the Federal Housing Finance Agency announced on Aug. 25 that it would delay the fee’s implementation until Dec. 1, 2020. The FHFA first announced the Adverse Market Refinance Fee on Aug. 12 and…