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Governor Signs Extensions of Residential, Commercial Evictions and Foreclosure Moratoriums

May 5, 2021

ALBANY—On May 4, New York Gov. Andrew M. Cuomo signed an extension of the COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020 and the COVID-19 Emergency Protect Our Small Businesses Act. The legislation (S.6362-A/A.7175-A) extends moratoriums prohibiting residential and commercial evictions, foreclosure proceedings, as well as protections against credit discrimination and negative credit reporting…

Harrison Multifamily Project Sells for Nearly $16 Million

May 4, 2021

HARRISON—White Plains-based development firm Lighthouse Living has sold the 36-unit Wood Works multifamily property at 550 Halstead Ave. in Harrison for $15.6 million. The sale was reported by commercial brokerage firm CBRE on May 4. The identity of the buyer was not disclosed. The CBRE team of Jeffrey Dunne, Gene Pride, Eric Apfel, Jeremy Neuer,…

Lower Manhattan CRE Market Struggling to Recover from COVID-19; Residential Sector a Different Story

May 4, 2021

NEW YORK—First quarter office leasing in Lower Manhattan was up from the previous quarter's record low but still more than 60% below the five-year quarterly average, according to the Alliance for Downtown New York's Lower Manhattan Real Estate Market Report, Q1 2021 released today. The report noted that while the commercial real estate market lags,…

Many COVID Restrictions Lifted as of May 19

May 3, 2021

ALBANY—In a joint announcement with the governors of New Jersey and Connecticut, New York Gov. Andrew Cuomo announced today that most industry capacity restrictions will be lifted as of May 19. One key caveat to the easing is that businesses will only be limited by the space available for patrons or parties of patrons to…

Robert Martin Sells Two Yonkers Office Buildings for $37 Million

April 29, 2021

YONKERS—Robert Martin Co., announced on April 29 it has sold 3 Executive Blvd., a 59,542-square-foot office building and 3 Odell Plaza, a 71,065-square-foot office building in Yonkers for $36.6 million. Robert Martin officials stated that the sale represents a new record price for suburban Westchester County office sales at $280-per-square foot. The buyer of the…

Breaking News: Mayor de Blasio Says NYC to Fully Reopen on July 1

April 29, 2021

NEW YORK—New York City Mayor Bill de Blasio said on an appearance this morning on the MSNBC Program Morning Joe that New York City will “fully reopen” by July 1. The mayor said that at that time there would be no restrictions on restaurants and other businesses. Please check back for further updates on this…

Mayor de Blasio Names Meyer as Chairman Of NYC Economic Development Corporation

April 28, 2021

NEW YORK—Mayor Bill de Blasio announced on April 27th the appointment of New York entrepreneur Danny Meyer as chairman of the Board of the New York Economic Development Corporation (NYCEDC). Meyer will be sworn in April 28, 2021. Meyer will lead the organization’s 27-member board, which helps to guide NYCEDC’s agenda as the city’s primary…

Realtors Press Lawmakers on Co-Op Transparency, Eviction Moratorium, Good Cause Eviction Proposals

April 27, 2021

ALBANY—Hundreds of Realtors from across the state, including approximately 100 Hudson Gateway Association of Realtors members, met virtually with state lawmakers earlier today to discuss key issues facing the real estate industry and consumers. After NYSAR cancelled last year’s Lobby Day program due to the COVID-19 pandemic, the program was held virtually via Zoom. NYSAR’s…

PPE Manufacturer Signs Large Lease Deal in Rockland County

April 27, 2021

PEARL RIVER—Rockland County Executive Ed Day and Economic Development Director Jeremy Schulman reported today that NY Critical Materials LLC, a manufacturer of Personal Protective Equipment (PPE) will be leasing more than 50,000 square feet of space at the former Pfizer complex now known as the New York Center for Innovation. The firm, a subsidiary of…

Extreme Department Store Signs 15,000 SF Lease in the Bronx

April 23, 2021

NEW YORK— Extreme Department Store has signed a 10-year lease for 15,003 square feet at Concourse Plaza in the Bronx, announced New York City-based The Feil Organization, the shopping center’s owner and manager. The new lease comes relatively shortly after a tenant vacated the space. The department store will be situated on the ground floor…

Nearly $100M E-Commerce Project in Hawthorne Secures Incentives

April 23, 2021

HAWTHORNE—The Mount Pleasant Industrial Development Agency has approved approximately $3.8 million in sales tax exemptions for the construction of a 153,062-square-foot e-commerce distribution center located at 211 Saw Mil River Road (Route 9A) in Hawthorne that will cost nearly $100 million to develop. The project, which received approval at the IDA’s April 21 meeting, represents…

While Sales Declined, U.S. Housing Market Posts Record-High Home Prices in March

April 23, 2021

WASHINGTON—Existing-home sales fell in March, marking two consecutive months of declines, according to the National Association of Realtors. The month of March saw record-high home prices and gains. While each of the four major U.S. regions experienced month-over-month drops, all four areas posted year-over-year gains in home sales. The median existing-home sales price in March…

Regeneron Pharmaceuticals Presents New Plan to Build $480 Million Project in Greenburgh

April 22, 2021

WHITE PLAINS—Representatives of Regeneron Pharmaceuticals, Inc. made a presentation to the Westchester County Industrial Development Agency this morning on an amended expansion plan for property in the Town of Greenburgh that will involve a total of nearly a half billion dollars of investment. Janet Giris, a partner with the law firm DelBello, Donnellan & Weingarten,…

President Container Group Begins Construction On $40-Million Expansion in Orange County

April 22, 2021

TOWN OF WALLKILL—President Container Group broke ground on April 21 on a $40-million expansion project that upon completion will make its Ballard Road complex one of the largest corrugated manufacturing facilities in North America. A host of state, county and local government officials were on hand for the event that signaled the first turning of…

Rockland County-Based Birch Group Buys NJ Office Portfolio for $255M

April 21, 2021

NANUET—The Birch Group, which is headquartered in Nanuet, has acquired an office portfolio of more than 840,000 square feet in Short Hills, NJ from Mack-Cali Realty Corp. in an off-market deal valued at $255 million. Last month, the Birch Group acquired an office portfolio in Morristown, NJ from Lincoln Equities Group for $77 million and…

HGAR, OneKey MLS Event Tackled How Social Media Platforms are Transforming Real Estate Marketing

April 20, 2021

NEW YORK—Top real estate professionals joined social media strategists to talk tech and give a download on the latest trends industry professionals can use to manage transactions, attract clients and close deals at a virtual panel on April 15 hosted by the Hudson Gateway Association of Realtors, Inc. (HGAR) and OneKey MLS. Hundreds of industry…

Valley Cottage Industrial Portfolio Trades for Nearly $54 Million

April 20, 2021

VALLEY COTTAGE—A partnership of Lincoln Equities and PCCP LLC has acquired a fully leased, three-building, light industrial portfolio totaling 260,755 square feet along with an adjacent 23-acre development parcel for $53.5 million. The Rockland County-based complex was sold by Sasson Real Estate Group and Garelick Holdco LLC. Commercial brokerage firm JLL marketed the property on…

Wilder Balter Acquires Tarrytown YMCA Building for Nearly $6.5 Million

April 19, 2021

TARRYTOWN—Wilder Balter Partners Inc. of Chappaqua has acquired the iconic YMCA building in Tarrytown for $6.45 million and plans to redevelop the property into affordable housing project. The development firm plans to convert the four-story brick building at 62 Main St. into 109 units of affordable housing. The project will also feature additional parking for…

SUNY Empire State College Leases Nearly 30,000 at Four Park Ave. Building

April 19, 2021

NEW YORK—SUNY Empire State College has relocated its classrooms from its Hudson Square campus to 29,747 square feet of space at Four Park Ave., according to property owner and manager The Feil Organization. A multi-use building featuring residential, office and retail, Four Park Avenue is situated at the 33rd Street to 34th Street blockfront in…

Developers, Investors Advance New Projects In CBDs in Hudson Valley’s Major Cities

April 14, 2021

While the pandemic brought portions of the region’s economy to a halt in March 2020, the development activity in the Hudson Valley’s major cities went on a short pause, but picked up steam shortly thereafter. So far in 2021, construction continues on major projects in White Plains, New Rochelle, Yonkers and elsewhere on many mixed-use…