RYE BROOK—New York City-based George Comfort & Sons announced on Feb. 6 that five lease agreements totaling more than 83,000 square feet have been signed at the Kingsbrook office complex in Rye Brook. In January, George Comfort & Sons signed a 10-year agreement with Regus to open a location at Kingsbrook in mid-2023 across 15,800…
Read MoreWHITE PLAINS—Christie's International Real Estate Westchester and Hudson Valley recently announced the opening of its new regional headquarters and sales gallery in White Plains. The new office is located at 1133 Westchester Ave. and features more than 5,000 square feet of modern office spaces for sales agents and corporate staff, including administrative, operations, marketing, IT…
Read MoreNEW YORK—The Partnership for New York City released a survey earlier this month of more than 140 major Manhattan office employers between Jan. 5 and Jan. 28, 2023, which showed that employees are continuing to return to the office, at least on a part-time basis. As of late January 2023, 52% of Manhattan office workers…
Read MoreWHITE PLAINS—The COVID-19-induced home sales boom is over and sales activity in 2022 and the first few weeks of 2023 were down significantly thanks to rising inflation and higher mortgage rates. In the first weeks of 2023, the Federal Reserve continued to hike rates to control inflation and is expected to continue to do so…
Read MoreWASHINGTON—Approximately nine out of 10 metro markets registered home price gains in the fourth quarter of 2022 despite mortgage rates eclipsing 7%, according to the National Association of Realtors’ latest quarterly report. A total of 18% of the 186 tracked metro areas registered double-digit price increases over the same time period, down from 46% in…
Read MoreNORWALK, CT—RISMedia announced a new partnership with OneKey MLS, the largest multiple listing service in New York that serves more than 50,000 Realtors and 4,500 participating offices throughout Long Island, New York City and the Hudson Valley, to bring best-in-class articles and need-to-know information to its subscribers. OneKey MLS subscribers will receive a selection of…
Read MoreALBANY—The New York State Association of Realtors at its Mid-Winter Meetings held here earlier this month acknowledged HGAR’s 2022 Realtor of the Year Gail Fattizzi and announced the selection of a number of HGAR members for prestigious community service and industry advocacy awards, as well as several RPAC Hall of Fame inductions. From left, Gail…
Read MoreWASHINGTON—President Joe Biden in his 72-minute address last night before a divided Congress stressed that the State of the Union is strong and pushed his economic agenda that includes trillions of dollars in funding for infrastructure, climate change and semiconductor manufacturing that is creating tens of thousands of new jobs in the construction industry alone.…
Read MorePEARL RIVER—Officials with the Hudson Valley iCampus in Pearl River report the ownership has closed lease and renewal deals totaling 337,589 square feet on campus valued at more than $40 million from August 2021 through December 2022. “We are very pleased with how swiftly our rebranding program and outreach to the community has positively impacted…
Read MoreALBANY—Gov. Kathy Hochul in her address on her proposed Fiscal Year 2024 Executive Budget on Feb. 1 outlined her “New York Housing Compact” that looks to address the housing shortage in New York State by building 800,000 new homes over the next decade. The plan sets housing target growth rates at 3% for downstate municipalities…
Read MoreWASHINGTON—Pending home sales increased in December for the first time since May 2022—following six consecutive months of declines—according to the National Association of Realtors. The Northeast and Midwest recorded month-over-month reductions, while the South and West posted monthly gains. All four U.S. regions saw year-over-year decreases in transactions, with the West experiencing the largest decline…
Read MoreNEW YORK—Camber Property Group announced on Jan. 24 it had closed on two 100% affordable properties in The Bronx, preserving and extending affordability for 187 units in transactions valued at a total of $56.4 million. In early January 2023, Manhattan-based Camber closed on the purchase of Morris Heights Mews, a three building, 111-unit, 100% Project…
Read MoreNEW YORK—Residential brokerage firm Douglas Elliman Realty has announced it has promoted its Senior Executive Regional Manager of Sales for Hamptons and North Fork Todd Bourgard to Chief Executive Officer of Long Island, Hamptons and North Fork, effective immediately. In his new role, Bourgard will oversee operations throughout the entire Long Island region, totaling 36…
Read MoreCLARKSTOWN—Newly installed U.S. Rep. Mike Lawler has followed up his recently introduced bill to prevent the implementation of congestion pricing in Manhattan with new bipartisan legislation that would drastically change the SALT Cap and eliminate the SALT Cap marriage penalty. U.S. Reps. Mikie Sherrill (NJ-11) and Mike Lawler (NY-17) announced on Jan. 31 they had…
Read MoreWASHINGTON—Existing-home sales retreated for the 11th consecutive month in December, the National Association of Realtors reported today. Three of the four major U.S. regions recorded month-over-month drops, while sales in the West were unchanged. All regions experienced year-over-year declines. Total existing-home sales decreased 1.5% from November to a seasonally adjusted annual rate of 4.02 million…
Read MoreFARMINGDALE, NY—For December 2022, OneKey MLS reported today a regional closed median sale price of $570,000, representing a 0.90% decrease as compared to the reported $575,000 in November 2022. Between November and December 2022, closed regional sales transactions in the nine-county OneKey MLS region, including residential, condo, and co-op sales, decreased to 4,270 from 4,620,…
Read MoreWHITE PLAINS—The residential sales market in the Hudson Valley and New York City continues to transition from the COVID-19 pandemic-induced frenzied period where buyers flocked to take advantage of historically low interest rates. In 2022, high inflation and the Federal Reserve’s actions of hiking interest rates to tamp down the inflation rate that reached a…
Read MoreALBANY—The prospect of downstate casinos in the New York metro area just got serious and those who seek these lucrative full-gaming licenses will have to possess very deep pockets that will fund at the least $1 billion in investment. The New York State Gaming Facility Location Board issued Request for Applications on Jan. 3 for…
Read MoreWe are now in the first few weeks of the new year and if you are like most, you’re probably pumped up about starting your new year resolutions or taking the opportunity to reinstitute some good old habits that may have fallen by the wayside over time. Or… even still, you may be dreading coming…
Read MoreWHITE PLAINS—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors reached its goal of $100,000 in fundraising for 2022, raising a total of $105,515. The funds will be used to provide 2023 donations to charities and non-profits throughout the Hudson Valley. In 2022, the foundation held its “Runway for…
Read More