WHITE PLAINS—Today is the day real estate brokers and agents have been anxiously waiting for since March 22 when Gov. Andrew Cuomo issued the “New York on Pause” order that virtually shut down the real estate industry and all other “non-essential” businesses in the state. Gov. Andrew Cuomo announced this morning (June 9) that the…
Read MoreTOWN OF POUGHKEEPSIE—Developers are undertaking substantial demolition and renovation work as they move forward with the Hudson Heritage mixed-use community being developed on 156 acres on Route 9 across from Marist College. The $300-million project will include housing, a hotel and conference center, retail, a supermarket, restaurants, entertainment, and medical and office space. The site…
Read MoreRYE BROOK—National Disinfection Services announced on May 15th it is launching what it terms is a “socially minded, one-of-a-kind” residential “Certification of Disinfection” program. The program comes with the “Clean Home Certified” seal of approval—an attestation that their new home is 99.9% free of any and all disease-bearing pathogens like COVID-19. “Given the new realities…
Read MoreWASHINGTON—– The National Association of Realtors issued a report today identifying 10 housing markets with favorable conditions for Millennial homebuyers during the coronavirus pandemic. None of the major cities in the Northeast made the list. The only metro area on the East Coast to make the top 10 Millennial list was Durham, Chapel Hill, NC.…
Read MoreRYE BROOK—The Business Council of Westchester recently issued an extensive list of strategies and recommendations to assist the state and Westchester County in their reemergence from the coronavirus pandemic. The report released on June 1 offers recommendations from the 46 members of the BCW Westchester Economic Recovery Task Force who represent a wide range of…
Read MoreARMONK – The Building and Allied Construction Industries of Westchester, the newest chapter of the New York State Builders Association and the National Association of Home Builders, announced on June 2 that it was officially open for business and accepting new members. The announcement came one week after Westchester County and the Mid-Hudson Region achieved…
Read MoreWHITE PLAINS—Now that the Mid-Hudson region has begun phase one of its reopening process, two major Westchester shopping centers have opened for business for merchandise pick up only. Officials with the Galleria at White Plains outlined their plan on Wednesday, May 27 for merchandise pick-up under phase one of Westchester County’s gradual reopening of businesses.…
Read MoreALBANY—The New York State Department of Labor’s latest unemployment data details the devastation caused by the Novel Coronavirus to the New York State economy. From April 2019 to April 2020, the state’s private sector employment count decreased by 1,834,800. In April 2020, the number of private sector jobs in the state was 6,467,600. The state’s…
Read MoreWASHINGTON—Existing-home sales dropped in April, continuing what is now a two-month skid in sales brought on by the Coronavirus pandemic, according to the National Association of Realtors. Each of the four major regions experienced a decline in month-over-month and year-over-year sales, with the West seeing the greatest dip in both categories. Total existing-home sales, completed…
Read MoreALBANY—Gov. Andrew Cuomo announced today that pending the required training of contact tracers over the Memorial Day weekend, the Mid-Hudson regional economy will begin phase one of its economy’s reopening on Tuesday, May 26. The governor in his daily COVID-19 briefing on Saturday said the Mid-Hudson region had met the metric in terms of COVID…
Read MoreNEWBURGH—During a virtual press conference focused on the merits of the Heroes Act passed by Congress recently, U.S. Rep. Sean Patrick Maloney and the county executives of Westchester, Orange and Dutchess counties agreed that the Mid-Hudson region’s economy should be re-opened by New York State soon. The online event on Thursday featured in addition to…
Read MoreWASHINGTON—The Federal Housing Finance Agency (FHFA) announced on May 19 that Fannie Mae and Freddie Mac have issued temporary guidance regarding the eligibility of borrowers who are in forbearance, or have recently ended their forbearance, looking to refinance or buy a new home. Borrowers are eligible to refinance or buy a new home if they…
Read MorePURCHASE—Broadview – Senior Living at Purchase College, currently under development at the Purchase College campus, has reached the halfway point to financing to enable its developer to pencil in the start construction for the 220-resident retirement community for individuals 62 and older next year. Located on a 40-acre grassy and wooded landscape, Broadview will offer…
Read MoreBROOKLYN—To help commercial lenders minimize the future damage that the COVID-19 pandemic will inevitably inflict upon their balance sheets, Eastern Union has launched a Distressed Notes Initiative that will identify investors interested in purchasing lenders' troubled mortgages. The company will leverage its extensive database of investors to help community banks and private debt funds find…
Read MoreGOSHEN—Orange County Executive Steven Neuhaus revealed in his daily COVID-19 Update on Saturday that the governor’s office notified counties in the Mid-Hudson region that the region had not met one of the key metrics for reopening and that the state is “restarting the clock,” which could mean a delay in the region’s economy’s opening by…
Read MoreLOS ANGELES—Most companies included in an analysis by commercial brokerage firm CBRE plan to take a gradual, cautious approach to bringing employees back to their workplaces as governments begin to lift restrictions tied to COVID-19. Roughly half of the 203 company operations that CBRE studied across the globe are implementing touchless technology to enhance cleanliness.…
Read MoreRYE BROOK— A host of business and non-for-profit executives offered their recommendations on how best to restart the Westchester County economy at a virtual Town Hall meeting of the newly formed Business Council of Westchester’s Economic Recovery Task Force. Formed on April 24, the task force is made up of more than 40 high level…
Read MoreALBANY—Local sales tax collections dropped 24.4% in April compared to April 2019, leaving many of New York’s local governments grappling with shortfalls, according to a report released today by New York State Comptroller Thomas P. DiNapoli. Sales tax collections totaled $1.02 billion in April. Plummeting sales tax collections were widespread, leaving counties, cities and some…
Read MoreEarlier this week, New York Gov. Andrew Cuomo in his daily COVID-19 briefings gave a preview of the likely regions that will be allowed to start a phased re-opening of their economies, noting that the Finger Lakes, Southern Tier and Mohawk Valley regions have met all the necessary metrics to allow the process to begin…
Read MoreWASHINGTON—Nearly all of the nation’s metro areas saw price growth and had minimal inventory increases in the first quarter of 2020, according to the latest quarterly report by the National Association of Realtors. The Northeast saw an increase of just under 10% in single-family home prices in the region. Median single-family home prices increased year-over-year…
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