News

Valley Cottage Industrial Portfolio Trades for Nearly $54 Million

April 20, 2021

VALLEY COTTAGE—A partnership of Lincoln Equities and PCCP LLC has acquired a fully leased, three-building, light industrial portfolio totaling 260,755 square feet along with an adjacent 23-acre development parcel for $53.5 million. The Rockland County-based complex was sold by Sasson Real Estate Group and Garelick Holdco LLC. Commercial brokerage firm JLL marketed the property on…

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Wilder Balter Acquires Tarrytown YMCA Building for Nearly $6.5 Million

April 19, 2021

TARRYTOWN—Wilder Balter Partners Inc. of Chappaqua has acquired the iconic YMCA building in Tarrytown for $6.45 million and plans to redevelop the property into affordable housing project. The development firm plans to convert the four-story brick building at 62 Main St. into 109 units of affordable housing. The project will also feature additional parking for…

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SUNY Empire State College Leases Nearly 30,000 at Four Park Ave. Building

April 19, 2021

NEW YORK—SUNY Empire State College has relocated its classrooms from its Hudson Square campus to 29,747 square feet of space at Four Park Ave., according to property owner and manager The Feil Organization. A multi-use building featuring residential, office and retail, Four Park Avenue is situated at the 33rd Street to 34th Street blockfront in…

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NAR Finds Home Staging Helps Buyers Visualize, Sell Homes Faster

April 14, 2021

WASHINGTON—A newly released survey from the National Association of Realtors reveals that home staging continues to be a significant part of the home buying and selling process. The biennial report, the "2021 Profile of Home Staging" released on April 6, examines the elements of home staging, including the perspectives of both buyers' and sellers' agents,…

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Five Questions With White Plains Mayor Thomas Roach

April 14, 2021

A little more than a year ago, White Plains Mayor Thomas Roach presided over a city that was enjoying a renaissance of new development projects in its Downtown District that promised to reshape the city’s skyline and economy for years to come. Fast forward to April 2021 and while the COVID-19 pandemic still infects and…

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Developers Have Some Big Plans for the Hudson Valley’s Small Cities

April 14, 2021

The cities of Peekskill in Westchester County and Newburgh in Orange County may be smaller than other major cities in the Hudson Valley, but both have some big development plans in the works. Peekskill, which has seen major changes over the past 10 years, is gearing up to add five new affordable and market rate…

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The Demise of Nuclear Power in Our Region

April 13, 2021

At the end of April, the Hudson Valley will bid farewell to an entity both loved and loathed in our region for almost 60 years—the Indian Point nuclear power plant in the Village of Buchanan in northern Westchester County. After providing power to the lower Hudson Valley since 1962, the third and final reactor—Indian Point…

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Westchester’s Top Federal Legislative Priority is SALT Repeal

April 13, 2021

WHITE PLAINS—Westchester County Executive George Latimer released the county’s top federal legislative requests on April 12 and tops on the list is the repeal of the State and Local Tax (SALT) cap. The legislative priorities list sent to the Westchester Congressional delegation also included support for President Biden’s proposed infrastructure spending plan and a list…

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State Supreme Court Judge Strikes Down NYC Broker Fee Ban

April 11, 2021

ALBANY—New York State Supreme Court Judge Susan Kushner issued a ruling that is being viewed as a major victory for the real estate industry, terming Department of State guidance that banned New York State apartment tenants from paying broker fees “an error of law.” The ruling, first reported by The Real Deal, was handed down…

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Annual Lobby Day to be Held Virtually on April 27

April 9, 2021

ALBANY—The annual NYSAR Lobby Day event will be held virtually due to the COVID-19 pandemic. The conventional program will be held on Tuesday, April 27 from 8 a.m. to noon. In advance of Lobby Day, HGAR’s Legislative Council has advanced a preliminary Public Policy Priorities Agenda for HGAR’s Westchester, Putnam, Orange, Rockland, Bronx and Manhattan…

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First Quarter Home Sales in HGAR Region Were Simply ‘Staggering’

April 7, 2021

WHITE PLAINS—Officials with OneKey MLS and the Hudson Gateway Association of Realtors described first quarter 2021 residential sales in Westchester, Putnam, Rockland, Orange, Sullivan, and Bronx counties as “staggering” and “unprecedented” with sales in certain markets as much as 62% higher than a year earlier. Editor’s Note: The following is the full text of the…

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Three Major NYC Residential Brokerages Join OneKey MLS

April 6, 2021

NEW YORK—The Hudson Gateway Association of Realtors, Inc. and OneKey MLS, the New York metro area’s first regional multiple listing service, reported on April 6 that a slate of new members has joined OneKey MLS in order to take advantage of the MLS’s reach and the rich data available to service their clients from Montauk…

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Yonkers Makes State Comptroller’s ‘Cities in Significant Fiscal Stress’ List

April 5, 2021

ALBANY—State Comptroller Thomas P. DiNapoli’s Fiscal Stress Monitoring System has identified eight villages and three cities in New York that were in some level of fiscal stress in 2020, based on scores that largely reflect the time period before the COVID-19 pandemic. DiNapoli, in a report released on April 2, evaluated all non-calendar year local…

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NY State, Port Authority Look to ‘Re-Energize’ NY Stewart International Airport

April 2, 2021

ALBANY—New York Gov. Andrew M. Cuomo announced on March 30 three major Port Authority of New York and New Jersey initiatives to re-energize New York Stewart International Airport, whose domestic air operations have been battered by the COVID-19 pandemic. The Port Authority unveiled a new air carrier incentive program, a new airport marketing campaign to…

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UPDATE: Orange County IDA Board Terminates Managing Director, CEO Resigns

March 31, 2021

NEW WINDSOR—At a special meeting of the newly constituted Board of Directors of the Orange County Industrial Development Agency on Tuesday, March 30, the IDA Board voted to terminate the contracts of the managing director of the IDA and its Accelerator programs. On April 5, the chief executive officer of the IDA submitted her resignation. The…

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Gov. Cuomo Signs Recreational Marijuana Legalization Bill into Law

March 31, 2021

ALBANY—After last night’s passage by the New York State Legislature of the Marijuana Regulation and Taxation Act, which will legalize the adult use of marijuana in New York for individuals 21 years of age and older, Gov. Andrew Cuomo signed the bill into law today. The bill (S.854-A/A.1248-A) establishes the Office of Cannabis Management and…

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HGAR Launches ‘Fair Housing Challenge’ Initiative In Observance of National Fair Housing Month

March 31, 2021

WHITE PLAINS—The Hudson Gateway Association of Realtors has announced it is launching its “Fair Housing Challenge” initiative in observance of the U.S. Housing and Urban Development’s “National Fair Housing Month” for April. HGAR’s “Fair Housing Challenge” has been distributed to its 13,000 Realtor members stretching from Manhattan to Orange County, and consists of three segments—a…

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