NEW YORK—A recently published report by Bloomberg News reveals some unsettling news for New York State businesses and the real estate industry here. The report, an analysis by Bloomberg of state-to-state moves based on data from the Internal Revenue Service and the U.S. Census Bureau, shows that New York and Connecticut are losing billions in…
Read MoreALBANY—New York’s Industrial Development Agencies provided a total of $751 million in net tax exemptions for local economic development projects in 2017, an increase of more than 5% from the previous year, according to a report issued on May 29 by New York State Comptroller Thomas P. DiNapoli. The Mid-Hudson ($175 million) and Long Island…
Read MoreYONKERS—Strategic Capital, the investment arm of China Construction America, recently hosted an exclusive ribbon-cutting ceremony for the River Club at Hudson Park luxury rental apartment tower on the Hudson River waterfront here. The ceremony was attended by Ning Yuan, CCA Chairman and President and Strategic Capital Chairman and CEO; Huang Ping, Consul General of China…
Read MoreVALHALLA—Officials with the Westchester Medical Center unveiled its $230-million new Ambulatory Care Pavilion on May 16th in advance of its opening later this month. The new, 280,000 square-foot, eight-story Ambulatory Care Pavilion, Westchester Medical Center’s new focal point for ambulatory care services will host its first patients later this month. The hospital, the flagship of…
Read MoreALBANY—New York State has begun what transportation, business and construction industry leaders describe as a critical step in an ongoing effort to improve mobility on the much traveled and highly congested Route 17 in Orange and Sullivan counties, including studying the addition of a third lane on the heavily traveled corridor. The New York State…
Read MoreWASHINGTON—Mortgage applications increased 2.7% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 3, 2019. The Market Composite Index, a measure of mortgage loan application volume, increased 2.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the…
Read MoreWHITE PLAINS—The Hudson Gateway Association of Realtors’ Commercial Investment Division will hold a “Women in Commercial Real Estate” panel discussion on June 6 at the HGAR offices in White Plains.The program, which will begin at 9 a.m. will feature panelists Patricia Valenti, Executive Managing Director, Newmark Knight Frank (Moderator); Joanna Simone, Vice President of Leasing…
Read MoreWHITE PLAINS—In coming weeks, the Westchester Office of Economic Development will be putting the finishing touches on its groundbreaking new Element 46 incubator initiative. Westchester County Executive George Latimer recently announced the launch of the Westchester Element 46 incubator program designed to inspire and support entrepreneurial talent and the development of new businesses in Westchester.…
Read MoreWestchester County is home to many unique attractions—from renowned historic sites to breathtaking nature preserves and parks. New and even long-time residents in the county can find a plethora of places and activities to keep themselves entertained throughout the year. And for those who love animals, there are a few special spots offering visitors the…
Read MoreWHITE PLAINS—The Westchester County Industrial Development Agency announced earlier this year that projects it supported in 2018 will result in $881.4 million in private investment in the county’s economy. The projects will create 2,680 construction jobs, 222 permanent jobs and 1,756 units of new rental apartments of which 97 will be affordable at 60% of…
Read MoreRE/MAX Distinguished Homes & Properties celebrated the grand opening of its new location in Tuckahoe at 273 Columbus Ave. on May 8th. Eric Stein, and Al Posillico, Broker/Owners, along with the Mayor of Tuckahoe Greg Luisi, co-president of the Eastchester Tuckahoe Chamber of Commerce Juan Gonzalez, Miriam Janusz, executive director of the Eastchester Tuckahoe Chamber…
Read MoreNEWBURGH—Houlihan Partners Realtors reports that it recently arranged financing for two buildings at 700 and 900 Corporate Blvd. in Newburgh. Steve McCulloch of the White Plains-based commercial real estate and investment firm, worked on behalf of a private partnership in the transaction. The buildings total 72,000 square feet of flex space and are located within…
Read MorePEEKSKILL—Governor Andrew M. Cuomo announced on May 1 the opening of Lofts on Main, a $28-million mixed-use housing development in Peekskill's downtown arts district. The newly constructed development features 75 apartments for local artists and residents with a variety of income levels, as well as 7,200 square feet of ground floor commercial space. "New York's…
Read MoreYONKERS—Yonkers Mayor Mike Spano announced on May 6 plans to propose legislation to the Yonkers City Council expanding the responsibilities and accountability of local landlords in an effort to better protect the safety and well-being of their tenants. The local law would amend the “Housing and Building Maintenance Code” and would apply to residential buildings…
Read MoreNEW YORK—A 28-unit multifamily building on Bainbridge Avenue in the Norwood section of the Bronx has changed hands for the first time in nearly 35 years. Cushman & Wakefield announced on May 8 that the firm had arranged the sale of 144 East 208th St., a 36,800-square-foot multifamily building in the Bronx. The final closing…
Read MoreWHITE PLAINS—The White Plains Common Council recently passed significant changes to the city’s Affordable Rental Housing Program at its May 6th session. The changes had originally been proposed in February by Mayor Tom Roach and represent a focused effort and commitment by the mayor and Common Council to increase the overall number of affordable housing…
Read MoreBRIARCLIFF MANOR—A group of state legislators and an advocacy group staged a rally outside of Trump National Golf Club Westchester here on April 28 in support of legislation to change how golf courses in New York State are assessed and taxed. State Senator David Carlucci (D-Rockland/Westchester), Assemblywoman Sandy Galef (D-Ossining) and other state and county…
Read MoreWASHINGTON—Existing-home sales retreated in March, following February’s surge of sales, according to the National Association of Realtors. Each of the four major U.S. regions saw a drop-off in sales, with the Midwest enduring the largest decline last month. Sales in the Northeast dropped nearly 3% in March, according to the NAR report. Total existing-home completed…
Read MoreEAST FISHKILL, NY—In a blockbuster deal that will save about 1,000 jobs in Dutchess County, GlobalFoundries of Santa Clara, CA has reached an agreement to sell its 300mm chip fab plant in East Fishkill to Phoenix-based ON Semiconductor for $430 million. The two firms announced on April 22 they had reached a definitive agreement on…
Read MoreWHITE PLAINS—White Plains Hospital officials and other county and local dignitaries were on hand on April 22 to celebrate the groundbreaking of a new 252,000-square-foot outpatient center being built at the corner of Maple and Longview avenues here. The $272-million project is being built on the site of a former vacant apartment building, a hospital…
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