News

GUEST COLUMN: 2023 The Year of Breakthrough

January 12, 2023

We 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…

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Hudson Gateway Realtor Foundation Raises More Than $100,000 for Charity in 2022

January 11, 2023

WHITE 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…

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Longtime NYSAR CEO Charles ‘Chuck’ Staro Passes Away

January 9, 2023

ALBANY—The New York State Association of Realtors announced today (Jan. 9) that longtime NYSAR CEO Charles M. “Chuck” Staro passed away on Jan. 5 at the age of 82. At the time of his passing, Staro was a resident of Estero, FL. Staro joined NYSAR in 1967 and served as NYSAR Chief Executive Officer for…

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National Resources Acquires Leake & Watts Campus for Nearly $53 Million

January 6, 2023

YONKERS—Greenwich, CT-based National Resources has acquired the 28-acre Leake & Watts campus in Yonkers and the Bronx from Rising Ground for $52.6 million. The deal was announced by commercial brokerage firm OPEN Impact Real Estate. OPEN Impact Real Estate is a woman-owned brokerage firm that is an affiliate of Transwestern Real Estate Services. The OPEN…

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Mortgage Bankers See Unsettled Markets Dissipating in 2023

January 5, 2023

WASHINGTON—Commercial and multifamily mortgage originators are experiencing an unsettled market for borrowing and lending but anticipate those conditions will slowly stabilize over the course of 2023, according to the Mortgage Bankers Association's 2023 Commercial Real Estate Finance Outlook Survey. The survey, which polled the leaders of the top commercial and multifamily mortgage finance firms for…

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Report: Mixed Results for Luxury Home Sales in 2022 for Markets North of NYC

January 5, 2023

RYE BROOK—The luxury real estate market north of New York City ended 2022 with mixed results as luxury sales in Westchester, Putnam and Duchess counties were largely unchanged while Greenwich, Darien and New Canaan posted sharp declines, according to the Houlihan Lawrence Luxury Q4 Market Report released on Jan. 5. According to the report, Westchester…

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Golf Simulator Retailer to Open Locations At Palisades Center and in Scarsdale

January 5, 2023

WEST NYACK—Golfzon, a golf simulator firm, and Troon, a leader in providing golf and club-related leisure and hospitality services, have partnered to launch Golfzon Social, a state-of-the-art indoor golf entertainment venue. The first two locations are set to open in early 2023 in Rockland and Westchester counties. Seeking to attract non-golfers, avid golfers, and casual…

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Robert Martin Co. Completed 586,000 SF Of New Leases and Renewals in 2022

January 5, 2023

ELMSFORD—Robert Martin Company, one of the largest real estate management and development firms in Westchester County, announced recently it had secured approximately 586,000 square feet of new leases, renewals, and expansions at its properties in Westchester County for 2022. Company officials stated that the strong leasing activity reflected the ongoing strength of Robert Martin Company’s…

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Newly Opened Gaming Facility Gives Troubled Newburgh Mall New Life

December 29, 2022

NEWBURGH—The opening of the Resorts World Hudson Valley video gaming machine (VGM) facility at the beleaguered Newburgh Mall in Orange County on Dec. 28 will bring hundreds of new full-time jobs and significant tax revenue for the area, but business leaders are hoping for so much more. Executives from Genting, which owns the casino, were…

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NAR: U.S. Pending Home Sales Fell 4.0% in November; Northeast Pending Sales Dropped Nearly 8%

December 28, 2022

WASHINGTON—Pending home sales slid for the sixth consecutive month in November, according to the National Association of Realtors. All four U.S. regions recorded month-over-month decreases, and all four regions saw year-over-year declines in transactions. “Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest…

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$1.2-Billion North80 Biotech Project Clears Key Zoning Hurdle

December 27, 2022

MOUNT PLEASANT—Recently, the Mount Pleasant Town Board unanimously approved the zoning for the 3.0-million-square-foot North80 science and technology center next to the Westchester Medical Center, New York Medical College, and near the expansive Regeneron Pharmaceuticals complex, which is currently undergoing a $1.8-billion expansion. The approval now sets the stage for the developer to formally submit…

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Northeast Homes Sales Fell 7% in November

December 21, 2022

WASHINGTON—Existing-home sales declined for the tenth month in a row in November, according to the National Association of Realtors. All four major U.S. regions recorded month-over-month and year-over-year declines. Total existing-home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, waned 7.7% from October to a seasonally adjusted annual rate of 4.09 million…

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Curasi Realty Launches Commercial Division

December 21, 2022

MONTGOMERY—Locally-based residential real estate brokerage firm Curasi Realty, Inc. has announced the establishment of its specialized commercial division. A team of Curasi Realty professionals recently became certified in commercial real estate, prompting the launch of the company’s commercial division. Those Realtors all completed the Commercial and Investment Real Estate (CIRE) certification. “We congratulate these professionals…

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Experts Predict Declining Home Sales, Stable Prices in 2023

December 19, 2022

WASHINGTON—What seems evident from the forecasts from a host of noted real estate experts and economists, including National Association of Realtors Chief Economist Lawrence Yun, is that while 2023 will be a difficult year for many, it will in no way mirror the severe downturn the industry suffered in 2008. While some differ on whether…

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Storied Rockland Brokerage Affiliates with Grand Lux Realty

December 19, 2022

STONY POINT— Fifty years ago, Patsy Duncan and late husband Fred set up shop in Rockland County’s Stony Point as a boutique Realtor and has since become a cornerstone of the local real estate scene. Now, Patsy Duncan has decided the time is ripe for a vigorous new stage of growth and has affiliated with…

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Rockland County Life Sciences Building Sells For $12 Million in 1031 Exchange Transaction

December 16, 2022

ORANGEBURG—A single-tenant absolute net leased property in Orangeburg leased to Scapa North America, a wholly owned subsidiary of global provider of engineering solutions and advanced materials firm Schweitzer-Mauduit International, was acquired by Solomon Builders of Teaneck, NJ for $12 million from 25 Corporate Drive, LLC in a 1031 exchange transaction. The deal for the 38,400-square-foot…

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