NEW YORK—Residential brokerage firm Douglas Elliman, announced today that Dottie Herman has stepped down as its Chief Executive Officer. The firm has promoted President and Chief Operating Officer Scott Durkin to Chief Executive Officer, effective immediately. Herman, who purchased Douglas Elliman in 2003 in partnership with Douglas Elliman Chairman Howard M. Lorber, has been named…
Read MoreALBANY—Gov. Andrew Cuomo announced on July 29 that as part of his $20-billion program to combat homelessness and create affordable housing, the state will provide a total of $195.5 million in financing for two housing developments in Westchester and two in the Bronx. The governor announced $270 million in financing for six affordable housing developments…
Read MoreALBANY—Several days after New York City issued the mandate, Gov. Andrew Cuomo on Wednesday announced that all New York State employees—about 130,000 people—will be required to get vaccinated for COVID-19 by Labor Day. The governor also announced that all patient-facing healthcare workers at state-run hospitals will be required to get vaccinated for COVID-19 by Labor…
Read MoreWASHINGTON—Foreign buyers purchased $54.4 billion worth of U.S. existing homes from April 2020 through March 2021, a 27% decrease from the previous 12-month period and the fourth consecutive annual decline in foreign investment in U.S. residential real estate, according to a new report released by the National Association of Realtors. Foreign buyers purchased 107,000 properties,…
Read MoreBOSTON—Boston Properties, Inc. reported on July 27 it had agreed to acquire 360 Park Ave. South, an existing 450,000 square foot, 20-story office property in the Midtown South submarket of Manhattan for $300 million. The property is currently fully leased to a single tenant who will be vacating in late 2021 providing BXP with the…
Read MoreHAMILTON, NJ—The value of commercial and multifamily starts in the top 20 metropolitan areas of the U.S. gained 12% during the first six months of 2021 relative to the first half of 2020, according to a report released on July 27 by Dodge Data & Analytics. Nationally, commercial and multifamily construction starts were 10% higher…
Read MoreWASHINGTON—Existing-home sales increased in June, snapping four consecutive months of declines, according to the National Association of Realtors. Three of the four major U.S. regions registered small month-over-month gains, while the fourth remained flat. However, all four areas notched double-digit year-over-year gains. Existing-home sales in the Northeast increased 2.8% in June, recording an annual rate…
Read MoreHAVERSTRAW—The Village of Haverstraw released a Request for Proposal on July 21 for the development of two waterfront parcels currently known as the Chair Factory and Damiani Properties. The village has owned these parcels for several years. This more than nine-acre combined parcel sits on a peninsula at the foot of Main Street at the…
Read MoreEditor’s Note: This column first appeared in RISmedia. As a small business owner and president of the National Association of Realtors (NAR), I want to set the record straight on misconceptions by some about the real estate industry. Commissions for real estate agents and brokers are negotiable. Always have been. Always will be. Let’s put…
Read MoreNEW YORK—Residential real estate brokerage firm Douglas Elliman announced on July 19 that real estate veteran Richard Ferrari has joined the firm as president and CEO of Brokerage for New York City and the Northeast Region. In this role, Ferrari, a highly regarded industry expert, will oversee the firm’s New York City resale markets, including…
Read MoreNEW YORK—Brown Harris Stevens reports today that Christopher Halstead, the nephew of Halstead co-founder and real estate legend Clark Halstead, has joined the firm’s Connecticut residential brokerage operations as executive sales director. In the role, Halstead will work across all six of the Connecticut offices, supporting agents, respective management teams, and further helping shape business…
Read MoreNEWBURGH—Affordably priced housing continues to be out of reach for many Hudson Valley residents as rents are rising faster than wages, making the gap between what people can afford to pay and what it costs to rent in the region even wider, according to an analysis of data by Hudson Valley Pattern for Progress’ Center…
Read MoreTARRYTOWN—The planned expansion of Westchester County-based Regeneron Pharmaceuticals has exponentially increased and is now valued at $1.8 billion. The firm, which is seeking approvals from the Town of Greenburgh for an expansion plan valued at $480 million, is now moving forward with a multi-year expansion that will approach nearly $2-billion. The Tarrytown-headquartered firm’s updated expansion…
Read MoreConsidering the increase in the amount of vaccinations and decrease in COVID cases, the Hudson Gateway Association of REALTORS® has opted to hold its 105th Annual Member Appreciation Day on Monday, as a LIVE event on October 25, at the Sleepy Hollow Hotel and Conference Center in Tarrytown. (formerly the DoubleTree Hotel). Last year, for…
Read MoreWHITE PLAINS—Home sales activity in the Hudson Gateway Association of Realtors’ region continued to be historically robust in the second quarter of this year, fueled by strong demand and a continued economic recovery from the coronavirus pandemic. All key data metrics throughout the region were significantly higher in the second quarter, with the exception of…
Read MoreTo say that there has been a lot on the plate for Orange County Executive Steve Neuhaus would be an understatement. In his second term of office he had to deal with the death and devastation caused by the coronavirus pandemic beginning in March 2020. In an exclusive interview with Real Estate In-Depth, Neuhaus discusses…
Read MoreWHITE PLAINS—Ginsburg Development Companies recently staged ceremonies marking key milestones on the development firm’s projects in Downtown White Plains and in Peekskill. The real estate community has been anxiously awaiting the grand opening of its $43.7-million White Plains project, which marked the first major office building in Westchester County to be converted into luxury rental…
Read MoreGOSHEN—In a no-holds barred interview, Orange County Executive Steve Neuhaus recently told Real Estate In-Depth that if Congress passes a large federal infrastructure bill, one of the first projects in New York State that should be funded is the expansion of Route 17, which could come with a price tag of more than $1 billion.…
Read MoreMIDDLETOWN—More than 300 political, business and civic leaders gathered at the West Hills Country Club in Middletown on June 8 to honor the Orange County Partnership’s 2021 Most Valuable Partner (MVP) veteran attorney Richard Golden. The program, held in a tent on the West Hills complex to conform with CDC coronavirus guidelines, featured a host…
Read MoreYONKERS—After the Yonkers City Council approved an amended Affordable Housing Ordinance late last month that would increase the affordable housing requirement for new development projects from 10% to 20%, Mayor Mike Spano vetoed the measure on July 7th saying it is infeasible without significant public subsidy. The mayor cited an independent report conducted by HR&A…
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