Indianapolis-based Simon Property Group announced on Tuesday that it plans to open its New York State retail properties, including Woodbury Common Premium Outlet in Central Valley and The Westchester in White Plains, on May 16. The planned opening of the two popular retail properties, along with other Simon retail properties on Long Island and upstate,…
Read MoreWASHINGTON—More than three in four Realtors (76%) currently working with sellers this week reported their clients haven’t reduced listing prices to attract buyers, according to a survey released recently by he National Association of Realtors. That’s up from 74% who said the same a week ago. “Nearly 70% of Americans have secure employment and those…
Read MoreRYE BROOK—As New York State prepares to begin reopening its economy in the wake of the COVID-19 pandemic, the newly formed Business Council of Westchester’s Economic Recovery Task Force is forging ahead with developing a comprehensive plan to provide specific recovery measures and recommendations keyed to assisting Westchester’s diverse business and not-for-profit sectors. The Task…
Read MoreMIDDLETOWN—Orange Bank & Trust Company reported on May 5 the successful processing of more than 700 small business loan applications for local business customers, totaling more than $100 million. The applications were funded under the federal Paycheck Protection Program (PPP), which was established in late March to help small businesses remain afloat and retain employees…
Read MoreWHITE PLAINS—U.S. Rep. Sean Patrick Maloney (D-NY-18) in a more than 50-minute online session hosted by the Hudson Gateway Association of Realtors recently offered his views on the COVID-19 crisis’ impacts on the real estate industry and how the federal government going forward will be assisting businesses in New York State affected by the pandemic.…
Read MoreWASHINGTON—Pending home sales fell in March as a result of the Coronavirus outbreak, according to the National Association of Realtors. Each of the four major regions saw drops in month-over-month contract activity and year-over-year pending home sales transactions, NAR reported on April 29. The Pending Home Sales Index in the month of March in the…
Read MoreWHITE PLAINS—The Westchester County Office of Economic Development released the results of a survey on April 29 that showed county businesses are highly anxious about their survival and frustrated with the process of applying for COVID-19 financial assistance. The survey respondents also indicated they are looking for county government and local Chambers to be their…
Read MoreALBANY—The New York State Division of the Budget released a report on Saturday that estimates a $13.3-billion shortfall, or 14%, in revenue from the Fiscal Year 2021 Executive Budget Forecast released in January. The report estimates a $61-billion state revenue decline through Fiscal Year 2024 as a direct consequence of the COVID-19 pandemic. The 463-page…
Read MoreALBANY, NY—It appears New York State could allow the reopening of some business operations in the construction and manufacturing sectors in the upstate region beginning as early as after May 15. New York Gov. Andrew Cuomo in his daily COVID-19 update on Sunday April 26 announced the state may begin a phased restart of the…
Read MoreWASHINGTON—Existing-home sales fell in March following a February that saw significant nationwide gains, according to the National Association of Realtors. Each of the four major regions reported a dip in sales, with the West suffering the largest decrease. Sales in the Northeast dipped more than 7%, NAR reported. Total existing-home sales, (https://www.nar.realtor/existing-home-sales), completed transactions that…
Read MoreWASHINGTON, DC—The National Multifamily Housing Council reported today that apartment market conditions weakened in the National Multifamily Housing Council’s (NMHC) Quarterly Survey of Apartment Market Conditions for April 2020, as the industry confronts the ongoing COVID-19 pandemic. The Market Tightness (12), Sales Volume (6), Equity Financing (13), and Debt Financing (20) indexes all came in…
Read MoreALBANY—The New York State Department of Labor reported the launch of a new application on April 20 for New Yorkers to apply for traditional Unemployment Insurance or the new COVID-19 Pandemic Unemployment Assistance. This one-stop-shop for unemployment benefits will connect New Yorkers with the benefits they deserve faster, without requiring them to call the Department…
Read MoreWHITE PLAINS—Westchester County Executive George Latimer received permission from Gov. Andrew Cuomo on April 21 to go forward with his plan to remove late fees for certain county residents and business for the late payment of their property taxes per the governor's Executive Order No. 202.22. Latimer said: “I want to thank Gov. Cuomo for…
Read MoreBUFFALO—New York Gov. Andrew Cuomo in this morning’s COVID-19 update briefing here said that the reopening of the state’s economy will be performed by region. He announced that Lt. Gov. Kathleen Hochul will be in charge of studying the Western New York region, including determining how and when the economy will reopen there, while former…
Read MoreGovernors Make Appointments to Council Charged with Restoring Northeast Economy NEW YORK—Perhaps the beginning of the end or at the very least the end of the beginning of the COVID-19 pandemic and the restoration of the regional economy are at hand. On Sunday, New York Gov. Andrew M. Cuomo, New Jersey Gov. Phil Murphy, Connecticut…
Read MoreNEW ROCHELLE—Planned Parenthood Hudson Peconic Inc. has signed a lease to occupy the entire ground level of the Lockwood Medical Campus here. Rand Commercial, the exclusive leasing agent for the 100,000-square-foot Lockwood Medical Campus at 150 Lockwood Ave., reported that Planned Parenthood Hudson Peconic has signed a long-term lease for more than 5,600 square feet…
Read MoreNEW YORK—Zeta Charter Schools has signed a 65,000-square-foot lease deal for a new elementary school at 1910 Arthur Ave. in the Bronx. Called Zeta Bronx Tremont Park Elementary, the school is scheduled to open in August 2021 for the 2021-2022 academic year and will ultimately serve students in pre-K through fifth grade, according to Transwestern…
Read MoreALBANY—Richard Brodsky, one of the most powerful state legislators for nearly three decades, passed away on April 8 at the age of 73. Initial published reports stated that Brodsky died from complications of the Coronavirus, but a family member told the New York Times that the longtime lawmaker passed away from a heart attack and…
Read MoreYONKERS—Great Point Capital Management and National Resources announced on April 7 they had closed a $40-million loan with CIT to complete the financing of Great Point’s first construction project, a major film and television studio complex at the i.Park Hudson complex in Yonkers. The loan is the last step before construction begins on the production…
Read MoreRYE BROOK— SCHOTT Corporation has signed a lease for more than 14,000 square feet of space at Kingsbrook, a recently renovated six building complex located at 1100 King St. in Rye Brook owned by New York City-based George Comfort & Sons, Inc. The international technology company that specializes in the areas of specialty glass and…
Read More