NEW YORK—Public and private institutional construction starts in New York City through the third quarter of this year totaled approximately $4.2 billion, well above the $3.7 billion this sector produced all of last year. Paced by major projects, such as the $1.2-billion Jacob K. Javits Convention Center expansion and other major initiatives, the total for…
Read MoreWHITE PLAINS—Tenant demand by health care, technology and communications concerns, particularly along the I-287 corridor, are helping bolster Westchester County’s commercial office market. Commercial brokerage firms Houlihan Lawrence and JLL recently released respective third quarter 2017 market reports for Westchester County. For the most part the two firms agreed on a number of positive prevailing…
Read MoreYONKERS—Empire City at Yonkers Raceway has retained J.P. Morgan Securities LLC to identify a strategic partner or perhaps explore a possible sale as it looks transform the highly successful racing and casino venue into a global gaming and entertainment destination. In its announcement released on Nov. 15, Empire City Casino officials said that JP Morgan…
Read MoreWHITE PLAINS—U.S. Rep. Nita Lowey (D-NY-17) and the Hudson Gateway Association of Realtors held a joint press conference at the HGAR headquarters in White Plains on Nov. 13 to highlight the devastating impacts the U.S. House and Senate tax reform plans would have on middle class taxpayers in the Hudson Valley. “The numbers are in,…
Read MoreWHITE PLAINS—Westchester County Executive Robert P. Astorino announced on Nov. 9th that he had selected Macquarie Infrastructure Corporation to operate Westchester County Airport as part of a $1.1-billion public-private partnership dedicated to improving this vital county asset without expanding its footprint. Macquarie was the unanimous choice of a bi-partisan task force made up of members…
Read MoreGREENBURGH—The Town Board of Greenburgh approved earlier this month the site plan application of Regeneron Pharmaceuticals of Tarrytown for a new research and development campus on a portion of a 100-acre parcel in the northern section of the town. Town Supervisor Paul Feiner announced that the Town Board granted site plan approval and a negative…
Read MoreWHITE PLAINS—After nearly seven years in the approval process and in court proceedings, the White Plains Common Council earlier this month approved the controversial adaptive reuse of the former Ridgeway Country Club into a campus for the French-American School of New York. The council approved the scaled-down project by the required super majority (5-2) that…
Read MoreCARMEL—Bruce J. Walker has resigned as the Deputy County Executive of Putnam and was confirmed by the U.S. Senate as Assistant Secretary for the Office of Electricity Delivery and Energy Reliability at the U.S. Department of Energy, Putnam County officials announced on Nov. 1. Walker, a Mahopac native who lives with his wife, Lisa and…
Read MoreCHICAGO—Stubbornly low inventory conditions in a large swath of the country are behind the below-average share of first-time buyers in recent years, but there is gaining evidence of an increase in homebuilding may be around the corner. So says NAR’s Jessica Lautz, managing director of survey research and communications at the National Association of Realtors,…
Read MoreALBANY—New York Gov. Andrew Cuomo joined a chorus of business and political leaders to voice his opposition to the GOP tax reform plan released on Thursday by the U.S. House Ways and Means Committee. In a statement released to the press, the governor did not mince words saying the tax cut plan by the GOP…
Read MoreWASHINGTON—While President Donald Trump described it as a “great Christmas present,” to American taxpayers, real estate executives view the proposed tax reform proposal rolled out by the House Ways and Means Committee today as anything but a gift. Among some of the key provisions in the proposal that would impact the real estate industry are:…
Read MoreResidents of Houston, TX, Florida, Puerto Rico and the Caribbean are still struggling to recover from the devastating Hurricanes of Harvey, Irma and Maria that left multi-billion dollar paths of destruction. In a grass-roots effort to aid hurricane victims, St. Christopher’s Inc. and the Greenburgh-North Castle Union Free School District have joined forces to create…
Read MoreStephanie Liggio Wins Affiliate of the Year Award TARRYTOWN—More than 1,000 members of the Hudson Gateway Association of Realtors participated in the HGAR’s 101st Annual Meeting held on Oct. 30th at the DoubleTree Hotel in Tarrytown. The business portion of the all-day event was highlighted by the election of HGAR Officers and Directors, who will…
Read MoreWASHINGTON—Despite solid interest in buying a home—sparked by steady job gains, record low mortgage rates and higher rents—the severe drought in housing supply in much of the country over the past year as well as accelerated price growth kept many first-time buyers out of the market. This is according to the National Association of Realtors'…
Read MoreWHITE PLAINS—Developer LCOR announced recently the completion of construction and the debut of its residential tower project near the White Plains Metro North train station called “Continuum.” The tower building is the first phase of a $250-million twin tower mixed-use project. Located at 55 Bank St., Continuum features a 16-story tower with 288 residences and…
Read MoreHARRISON—In recent months, industry experts and media outlets have claimed the same thing: retail is dead. Brick and mortar has seemingly been replaced by omni-channel shopping, with many industry cornerstones and “Mom and Pop” shops shuttering doors across the country. While many in the industry have started to pull away from the retail sector, commercial…
Read MoreALBANY—New York State residents could lose more than $72 billion in reported income and property tax deductions if the current Big 6 tax reform plan is enacted. New York State Comptroller Thomas DiNapoli in a report released on Oct. 27th said the tax reform plan calls for eliminating most itemized deductions, including state and local…
Read MoreCongress is now actively engaged in modifying the tax code and Realtors and homeowners in New York State stand to lose big time if Congress votes to repeal the state and local income and property tax deduction. This deduction has been a part of the tax code for decades and helps New Yorkers to participate…
Read MoreWHITE PLAINS—Yonkers Mayor Mike Spano, who was the keynote speaker at HGAR’s Commercial Investment Division on Oct. 26, said that one of his administration’s main goals has been to change the city’s negative image that at least in part was caused by the school desegregation case that garnered national headlines in the late 1980s. In…
Read MoreYONKERS—Fashion retailer Century 21 Stores has entered the Westchester County market with the opening of a new store at the Mall at Cross County here. The department store chain held a ribbon cutting ceremony on Oct. 24th for the more than 70,000-square-foot store. The store at 750 Central Park Ave. occupies two floors and features…
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