Hudson Gateway Association of Realtors Officially Concludes Merger Deal with Bronx-Manhattan North Assoc. of Realtors

NEW YORK—At a press conference staged outside the Castle Hill YMCA today, officials with the Hudson Gateway Association of Realtors and the Bronx-Manhattan North Association of Realtors celebrated the official merger of the two organizations. Eliezer Rodriguez, CEO of the former BMNAR, officiated the festivities that included speeches by a host of Bronx dignitaries, HGAR…

Rand Realty Forms Partnership with Howard Hanna Realty

NANUET—One of the largest residential brokerage firms in the Hudson Valley region has formed a new partnership with Howard Hanna Real Estate Services that significantly expands Howard Hanna Real Estate’s presence in Downstate New York State. The deal was announced today by Marsha Rand, founder and President of Rand Realty, and Helen Hanna Casey, CEO…

State Comptroller Puts Westchester County on Fiscal ‘Significant Stress’ List

ALBANY—New York State Comptroller Thomas P. DiNapoli released his fiscal stress list for 2019 and unfortunately, the Hudson Valley was well represented. On the State Comptroller’s “Significant (Fiscal) Stress” list in the New York metro area were Westchester County, Poughkeepsie in Dutchess County, Suffolk County and Long Beach in Nassau County. Other locations on the…

Dinosaurs Coming to Wallkill?

WALLKILL—A firm that is looking to develop and operate a Dinosaur theme park here just off Route 17 in Fair Oaks has filed applications with the Town of Wallkill and the Orange County Planning Department, Real Estate In-Depth has learned. Orange County Executive Steve Neuhaus and Town of Wallkill Supervisor Frank DenDanto confirmed that Orange…

NYC Investment Firm Lands $107M Loan to Acquire Norwalk, CT Multifamily

NORWALK, CT—New York City-based Invictus Real Estate Partners has secured acquisition financing totaling $107.25 million for its purchase of The Waypointe multifamily property here. JLL Capital Markets arranged the financing through Freddie Mac and worked on behalf of the borrower. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo…

Hudson Valley Unemployment Rate Falls to 10.5% in August

ALBANY—The New York State Department of Labor released on Sept. 22 preliminary local area unemployment rates for August 2020. Both the statewide and Hudson Valley unemployment rates fell more than 3% respectively. From August 2019 to August 2020, the state’s private sector employment count decreased by 1,096,900. The state’s seasonally adjusted unemployment rate decreased from…

Hudson Valley County Executives Urge President, Congress to Provide $12B to Prevent MTA Cuts

GOSHEN—County Executives from Orange, Putnam, Dutchess Rockland, and Westchester counties are urging President Donald Trump and leaders of Congress to provide $12 billion in funding to avert drastic service cuts and the elimination of commuter rail service in some sections of the Hudson Valley by the Metropolitan Transportation Authority. On Sept. 22, Orange County Executive…

RM Friedland Enters Office Brokerage Sector With Hiring of Veteran Broker O’Callaghan

HARRISON—In conjunction with the hiring of veteran commercial office broker Chris O’Callaghan, RM Friedland announced on Sept. 21 it has formed an office brokerage division. O’Callaghan joins Harrison-based RM Friedland after serving as Managing Director for Jones Lang LaSalle since 2013 where he was responsible for the Westchester County market for the commercial brokerage firm.…

Haverstraw Issues RFEI to Developers For Long-Vacant Waterfront Parcel

HAVERSTRAW—The Village of Haverstraw is taking a significant step in developing a long vacant and underutilized downtown waterfront parcel with the issuance of a Request for Expressions of Interest to development firms. The village, which issued the RFEI today, is hoping to find a developer that will embrace its vision of developing a mixed-use project…

New York State’s Jobless Rate Falls to 12.5%

ALBANY—The New York State Department of Labor announced on Sept. 17 that the state’s seasonally adjusted unemployment rate decreased from 15.9% to 12.5% in August 2020. In August 2020, the number of unemployed New York State residents decreased by 339,000, while labor force levels decreased by 86,700. In August 2020, the number of private sector…

Westchester Rolls Out Comprehensive COVID Aid Program To Help Suffering Homeowners, Tenants and Landlords

WHITE PLAINS—Westchester County has rolled out four distinct housing assistance programs that are being funded by HUD and the CARES Act geared to offering a comprehensive approach in dealing with the economic and social impacts of the COVID-19 pandemic. Westchester County Executive George Latimer announced the “Community Build Back Program” on Sept. 17 that includes…

Yonkers IDA Grants Preliminary Approval For $72-Million Apartment Development

YONKERS—The Board of Directors of the Yonkers Industrial Development Agency recently granted preliminary approval of financial incentives for a $72-million multifamily project that will redevelop a blighted and vacant block in the Warburton Ravine Urban Renewal Area. Point & Ravine Apartments, which is a public partnership between developer Conifer Realty LLC and the City of…

Five Questions With National Association of Realtors CEO Bob Goldberg

As the real estate industry in the Hudson Valley and the New York City metro region continues to adhere to new practices and safety protocols brought on by the coronavirus pandemic, Realtors’ acceptance and adaption to new technologies have been seen by many observers as critical in preventing the sector’s economic collapse in the spring…

Hudson Valley Home Sales Market in Full Recovery; In Midst of Pandemic, Record Sales Volume Projected

WHITE PLAINS—While the third quarter 2020 residential sales numbers will not be released by OneKey MLS until next month, the consensus from Realtor executives is that thanks to the resiliency of real estate professionals throughout the region, the Hudson Valley home sales market is on a torrid pace to perhaps shatter sales records. The pent-up…

Westchester County Business FIRST Grant Program To Provide $10M for Local Businesses, Nonprofits

WHITE PLAINS—Westchester County Executive George Latimer announced on Sept. 16 a $10-million funding initiative to support small businesses and nonprofits facing challenges due to COVID-19. The Westchester County Business FIRST: Financial Investments for Recovery and a Sustainable Tomorrow grant program is designed to offer immediate financial relief to organizations in Westchester County that have been…

Community Preservation Corporation Launches $20 Million ACCESS Initiative to Empower Minority Real Estate Development, Investment

NEW YORK—The Community Preservation Corporation, a leading nonprofit affordable housing and community revitalization company, announced today the creation of the $20-million CPC Acquiring Capital and Capacity for Economic Stability and Sustainability (ACCESS) initiative that will provide flexible capital to create opportunities for people of color in real estate development and prioritize investment in communities of…

Panel Tackles How to Use ‘Big Data’ in CRE

WHITE PLAINS—The Hudson Gateway Association of Realtors’ Commercial Investment Division presented a highly informative and forward-thinking workshop program entitled “How to Use ‘Big Data’ in the Commercial Real Estate Game.” The Zoom program was held on Sept. 10 and was part of CID’s Women in Commercial Real Estate series. The workshop focused on the use…

Orange County Stages Successful Air Show Event That Can Serve as Model for Other Programming

MONTGOMERY—On August 29 and 30th, Orange County hosted the 2020 New York international Air Show. Although the weather didn’t quite cooperate on Saturday, we couldn’t have asked for a more perfect day on Sunday. We estimated that about 12,000 attendees were with us to experience a wonderful show. This size event was the first in…

The 2020 New York international Air Show, Orange County Airport, Montgomery, NY

The New York Botanical Garden, Douglaston Ink Two Long-Term Ground Leases for Mixed-Use Affordable Projects in the Bronx

NEW YORK—Finalizing a deal announced earlier this year, The New York Botanical Garden and Douglaston Development have closed two separate 99-year ground leases at 2856 Webster Ave. and 410 Bedford Park Blvd. in the Bronx that will in a few years feature affordable housing projects totaling more than 400 units. New York City-based Douglaston states…