WHITE PLAINS—In an ongoing effort to create stronger member engagement, awareness and communication in a continually growing association, the HGAR leadership is expanding the role of its five regional directors covering Westchester, Putnam, Rockland and Orange counties, as well as Manhattan. “As our membership and our territory increases in size, we think it’s very important…
Read MoreALBANY—Less than 24 hours after the real estate industry was led to believe that in-person real estate showings were permitted by New York State comes a statement from Empire State Development that only virtual/online showings are permissible. On the evening of April 2, an official with Empire State Development Corp. in a clarification of the…
Read MoreNEW YORK—Most private construction in New York State, including major development projects in New Rochelle, Yonkers and White Plains, have been temporarily shut down as a means to prevent the spread of the Coronavirus Pandemic. At a press briefing at the Javits Center in New York City on March 27, New York Gov. Andrew Cuomo…
Read MoreNEW ROCHELLE—RXR Realty announced on March 31 that the Louis R. Cappelli Foundation had pledged $200,000 to RXR’s COVID relief efforts in New Rochelle, for a total of $1.2 million to support organizations helping New Rochelle residents impacted by the COVID-19 public health crisis. Funding will go towards programs to address both immediate needs, as…
Read MoreLOUDONVILLE, NY—New Yorkers overwhelmingly approve of the job Governor Andrew Cuomo is doing to address the coronavirus pandemic, 87%-11%, according to a newly released Siena College poll. They also give overwhelmingly high marks to their local health department, Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, as well as…
Read MoreALBANY—Gov. Andrew Cuomo ordered the closure of all offices for non-essential businesses on March 20 and indicated that all showings and open houses are also prohibited. Previously, the governor limited staffing to 50%, followed by 75%, and now 100% workforce reduction in non-essential business offices per his order on March 20. The governor specifically mentioned…
Read MoreNEW YORK—Landlord agents can continue to collect commissions or brokerage fees from landlords at least until June 12. The New York Attorney General Letitia James requested, and was granted, an extension of the temporary restraining order that the New York State Association of Realtors, the Real Estate Board of New York and others filed in…
Read MoreWASHINGTON—Existing-home sales climbed substantially in February after a slight decline in January, according to a report released by the National Association of Realtors on March 20. Of the four major regions, only the Northeast reported a decrease in sales (-4.1%), while other areas saw increases, including sizable sales gains in the West. Total existing-home sales…
Read MoreWASHINGTON—Nearly half of Realtors—48%—said home buyer interest had decreased due to the coronavirus outbreak, according to a new survey from the National Association of Realtors released on March 19. That percentage tripled from a week earlier when it stood at 16%. Almost seven in 10 Realtors—69%—said there’s no change in the number of homes on…
Read MoreWHITE PLAINS—A panel of veteran Hudson Valley commercial real estate brokers agreed that the commercial office and industrial markets were strong entering 2020 and were prime for continued brisk activity. Editor’s Note: The meeting of the Hudson Gateway Association of Realtors Commercial Investment Division’s Broker Roundtable was held in late January, before the onset of…
Read MoreALBANY—The New York State Association of Realtors posted online the latest guidance regarding the regulations impacting the real estate industry in connection with Gov. Andrew Cuomo’s executive orders in connection with preventing the spread of the Coronavirus. The FAQ (Frequently Asked Questions) issued by NYSAR effective at 5 p.m. on March 24 answered a host…
Read MoreWASHINGTON—The U.S. Department of Housing and Urban Development has awarded more than $3 million to fair housing organizations in New York State, including a total of $425,000 to White Plains-based Westchester Residential Opportunities, Inc. to confront violations of the nation's landmark Fair Housing Act and help end housing discrimination. HUD awarded a total of more…
Read MoreNEW YORK— The Long Island Board of Realtors, Inc. and the Hudson Gateway Association of Realtors, Inc. announced on March 24 that the first regional MLS for the New York Metro area—OneKey MLS—is now live for Realtor use. OneKey MLS offers real estate professionals more coverage, precise and accurate data. A consumer-facing website is set…
Read MoreALBANY—The New York State Department of Financial Services announced on March 24 the issuance of an emergency regulation requiring New York State-regulated financial institutions provide residential mortgage forbearance on property located in New York for a period of 90 days to any New York resident who demonstrates financial hardship as a result of the COVID-19…
Read MoreNEW YORK—RXR Realty announced on March 20 it was contributing $1 million to support organizations and New Rochelle residents impacted by the COVID-19 public health crisis. Funding will go towards programs to address both immediate needs, as well as the long-term recovery of New Rochelle. RXR’s commitment to New Rochelle, is in collaboration with the…
Read MoreMONTGOMERY, IL—Reich Brothers, which is headquartered in White Plains, and partner HFZ Capital Group of New York City, have purchased the four-million-square-foot Caterpillar manufacturing and distribution complex here for $68.5 million. The deal for the 350-acre campus also features a sale-leaseback component with Deerfield, IL-based Caterpillar Inc. The construction equipment manufacturer plans to keep approximately…
Read MoreWHITE PLAINS—The real estate industry, except for those undertaking limited virtual business, was all but shut down by New York Gov. Andrew Cuomo effective 8 p.m. Sunday, March 22 in an attempt to prevent the further spread of the Coronavirus. The Executive Order issued on March 20 mandated the temporary closure of all in-office personnel…
Read MoreALBANY—New York State Comptroller Thomas P. DiNapoli issued a revised revenue projection for the 2020-2021 state budget that estimates tax revenue will be at least $4 billion below the projections in the Executive Budget of $87.9 billion if a mild recession results from the novel coronavirus pandemic. He also offered one alternative scenario if a…
Read MoreMELVILLE, NY—Days after sporting goods retailer Modell’s Sporting Goods filed for Chapter 11 bankruptcy, Melville, NY-based A&G Real Estate Partners is marketing 137 Modell’s store leases in nine Northeastern and Mid-Atlantic states and the District of Columbia. The retailer, founded in 1889, operates 153 stores located in New York, New Jersey, Pennsylvania, Connecticut, Rhode Island,…
Read MoreWASHINGTON—Mortgage applications decreased 8.4% during the week ending March 13 from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey released on March 18. The Market Composite Index, a measure of mortgage loan application volume, decreased 8.4% on a seasonally adjusted basis from one week earlier. On an…
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