WASHINGTON—The coronavirus pandemic initiated several shifts in America's housing market over the past eight months. Changes in the behaviors of home buyers and sellers were especially notable as buyers' usual tendencies altered, and the urgency to sell accelerated. This is according to new data from the National Association of Realtors 2020 Profile of Home Buyers…
Read MoreWASHINGTON—Every metro area tracked by the National Association of Realtors during the third quarter of 2020 saw home prices increase from a year ago, according to NAR’s latest quarterly report, released on Nov. 12. Due in large part to record-low mortgage rates and depleted nationwide housing inventory, median single-family home prices grew year-over-year in all…
Read MoreYONKERS—One of the largest affordable housing redevelopment projects in the region reached a significant milestone with the recent closing on financing for 178 Warburton at The Ridgeway, a new $56-million mixed-income residential complex of 81 apartment homes in Southwest Yonkers that is being developed by the Municipal Housing Authority for the City of Yonkers and…
Read MoreWHITE PLAINS—Charities and non-profit organizations from New Rochelle to Newburgh received $21,500 in donations from the Hudson Gateway Realtor Foundation during the fourth quarter of 2020. Despite the COVID restrictions that severely curtailed live fundraising events, the Foundation was able to support almost 15 local organizations this year that are dedicated to helping those in…
Read MoreNANUET—Rockland County Executive Ed Day and Director of Economic Development and Tourism Jeremy Schulman announced recently that RTL Nanuet, owners of the former Macy’s store located next to the Shops at Nanuet, has been approved to operate as Rockland’s 5th NYS Qualified Film Production Facility under the regulations governed by the Empire State Film Production…
Read MoreWHITE PLAINS—The Westchester County Office of Economic Development announced on Nov. 10 it had awarded a total of $10 million to 262 county-based small businesses and nonprofits facing challenges as a result of the COVID-19 crisis. Recipients include businesses in industries such as restaurants/food service; arts, entertainment and recreation; social services; education and more. The…
Read MoreWHITE PLAINS—With a backdrop of rising coronavirus cases in Westchester County and New York State, Westchester County Executive George Latimer has proposed a tax cut in his 2021 Operating Budget plan. The County Executive has proposed a $1-million tax cut for the second year in a row. The budget, thanks to $168 million in COVID-19…
Read MoreTOWN OF WALLKILL—Panelists and participants in the Orange County Partnership’s recently held Commercial Market Forecast were bullish on investment and development interest and opportunities in Orange County in spite of and in some instances because of the COVID-19 pandemic. The program was held on Oct. 27 at the West Hills Country Club and was attended…
Read MoreRYE—As construction on the development nears completion, more than 50% of The St. Regis Residences, Rye, condominium residences have been sold. Recent sales activity has been brisk, with 13 homes sold in the last few months at the 92-unit property. In addition to Rye, buyers are coming from Long Island, Chappaqua, Harrison, Scarsdale, Larchmont, Mamaroneck,…
Read MoreNEW YORK—SL Green Realty Corp. reported on Nov. 4 that together with its partners, it had entered into a contract to sell 410 Tenth Ave for $952.5 million to an undisclosed buyer. The 636,000-square-foot Manhattan office redevelopment property is anchored by Amazon and First Republic Bank. SL Green currently owns 70.9% of the venture. As…
Read MoreWHITE PLAINS—At its 104th Annual Meeting, held October 27 via Zoom teleconference, the Hudson Gateway Association of Realtors awarded Joseph Rand, Chief Creative Officer of Howard Hanna/Rand Realty in Nanuet as its "Realtor of the Year" for 2020. John Jordan, owner of Hudson Valley Editorial Services in Middletown, was named the 2020 HGAR "Affiliate Member…
Read MoreYONKERS—The Yonkers Industrial Development Agency Board of Directors recently granted preliminary approval of financial incentives for the development of 56 Prospect St., a $32.6 million, seven-story residential building featuring 126 rental units. The project, which received preliminary approval at the IDA’s Oct. 28 meeting, is estimated to create 250 construction jobs and six permanent full-time…
Read MoreWEST NEW YORK, NJ—LIHC Investment Group of Portland, ME and Rockport Mortgage Corporation Gloucester, MA announced today the closing of a $140-million FHA Section 223(f) refinancing loan for Parkview Towers, a 688-unit property located here. The development consists of two 24-story buildings and is owned by LIHC, a real estate investment group committed to the…
Read MoreNEW YORK—New York Gov. Andrew M. Cuomo announced on Oct. 30 the start of construction on 1159 River Ave., a $126-million affordable development that will bring 245 homes to the South Bronx. The 19-story building will offer 148 apartments specifically for individuals and families who have previously been homeless, including those in need of supportive…
Read MoreThe fledgling cannabis industry in New York State may finally have some much-needed direction from New York State. Gov. Andrew M. Cuomo announced today that the New York State Department of Health has filed proposed regulations to regulate cannabinoid hemp products in New York State. In accordance with legislation signed earlier this year by the…
Read MoreNEW YORK—The virtual Global Real Estate Summit 2020 will take place on Thursday, Nov. 5 and Friday, Nov. 6, bringing together real estate’s most influential thought leaders on how to succeed in the global marketplace in a post-pandemic world. The event, now in its 14th year, will focus on “A Global Voyage into Local Business.”…
Read MoreRYE BROOK—It’s no secret that the COVID-19 pandemic has been a key factor in why many New York City residents are leaving the city and heading to Westchester County and nearby Fairfield County, CT. Brokerage firm Houlihan Lawrence reports that its data suggests that premise to be true and also indicates where in the region…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors held its two-day virtual Member Appreciation Day and Annual Meeting on Monday and today that was highlighted by the acknowledgement of Realtor Crystal Hawkins Syska of Keller Williams NY Realty of White Plains as the organization’s 2021 President. The event marked the 104th Annual Meeting of the Realtor…
Read MoreEliezer “Eli” Rodriguez, BMNAR’s former CEO, New HGAR Director of Advocacy, Commercial and Legislative Issues for The Bronx and Manhattan. Richard Haggerty, HGAR CEO Maximo Javier. Bronx District Manager for Congressman Adriano Espaillat Councilman Fernando Cabrera – District 14 Gail Fattizzi, HGAR President Crystal Hawkins-Syska, HGAR President Elect NYC Councilman Mark Gjonaj – District 13…
Read MoreNEW YORK—The Howard Hughes Corp. unveiled a comprehensive $1.4-billion proposal on Oct. 22 in the Lower Manhattan's Seaport area, including the transformation of an underutilized full-block surface parking lot along the boundary of the South Street Seaport Historic District into a mixed-income development that would include some of the area's first new affordable housing in…
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