NEW YORK—The Federal Reserve Board’s campaign to slow down the economy via rate hikes has accomplished its mission in most segments of the real estate market, according to a panel of real estate, finance and economic leaders assembled by the Fordham Real Estate Institute. While they don’t see many investors “hitting the panic button” they…
Read MoreNANUET—A group of Rockland County politicians, including County Executive Ed Day, slammed the controversial Congestion Pricing Plan released by the MTA and other transit agencies yesterday. At a press conference staged at the Nanuet train station on Wednesday, Day, State Assemblyman Michael Lawler, MTA Board Member Frank Borelli and 38th State Senate District Candidate Bill…
Read MoreWHITE PLAINS—Westchester County Executive George Latimer announced on Aug. 9 the county had established a $10-million fund for small landlords to make repairs on their apartments with the proviso that they maintain affordable rent levels at their properties. The Landlord Tenant Assistance Program will allow small landlords who own eight units or less, who maintain…
Read MoreThe Hudson Gateway Association of Realtors regrets to inform its membership of the passing of longtime Westchester commercial real estate owner and developer Allan Eisenkraft on Aug. 5, 2022, at the age of 86 in Ridgewood, NJ. Eisenkraft was a longtime member of the association’s Commercial Investment Division and was a staple at CID meetings…
Read MoreWHITE PLAINS—The Hudson Gateway Realtor Foundation, the charitable arm of the Hudson Gateway Association of Realtors, donated $12,500 to seven Hudson Valley charities during the second quarter of 2022. Most recently, HGRF presented a $2,500 check to Green Chimneys in Brewster. Founded in 1947 and headquartered on a farm and wildlife center, Green Chimneys is…
Read MoreEAST HANOVER, NJ—Howard Hanna | Rand Realty has announced the opening of its newest office in East Hanover, NJ, located at 460 Ridgedale Ave. Howard Hanna | Rand Realty already has a solid in-town presence, with highly skilled agents who are local experts, including The Kirkwood Group and The Palianto Team. Both teams are already…
Read MoreRHINEBECK—Residential brokerage firm Brown Harris Stevens announced on Aug. 2 the official opening of its new Rhinebeck office at 18 Garden St. with a launch party. Those in attendance included Brown Harris Stevens CEO Bess Freedman, Rhinebeck Executive Director of Sales Lisa Fountain, Chief Operating Officer Doug Williford, Hudson Executive Director of Sales Nancy Felcetto,…
Read MoreWARWICK—Better Homes and Gardens Real Estate LLC recently announced the affiliation with the Green Team in Warwick, which expands the brand’s service area in the Hudson Valley and Sussex County, N.J. The firm, which now operates as Better Homes and Gardens Real Estate Green Team, is led by second-generation broker Geoff Green and president, Vikki…
Read MoreYONKERS–The Municipal Housing Authority for the City of Yonkers held a lottery on Aug. 2 for 3,000 Yonkers residents who qualify for affordable housing. For the first time in more than 10 years, MHACY has opened its waiting list for Housing Choice Vouchers (Section 8) for affordable housing. MHACY is seeking to add 3,000 people…
Read MoreWASHINGTON—While not in the top 10, Westchester County and New York City boast among the lowest vacancy rates in the United States, according to a report released by the National Association of Realtors on Aug. 2. According to a blog by NAR Research Intern Jesse Priddy, the Westchester/Southern Connecticut multifamily markets ranked No. 11 among…
Read MoreNEW YORK—New York Gov. Kathy Hochul announced on Aug. 1 a total of $682 million in bonds and subsidies had been awarded to create or preserve more than 1,600 affordable, sustainable and supportive homes across the state. The developments will leverage an additional $218 million in private funding to create an overall investment of nearly…
Read MoreMONTGOMERY—A host of state, county and local officials joined Medline executives on Monday for the official opening of its nearly 1.4 million-square-foot distribution center here. The facility, the largest building in Orange County, according to Orange County Partnership President and CEO Maureen Halahan, cost more than $120 million to build. The new Medline property handles…
Read MoreHARRISON—With the multimillion-dollar renovation of City Square at 50 Main St./1-11 Martine Ave. in Downtown White Plains, New York now complete, owner Ginsburg Development Company has awarded locally-based RM Friedland the exclusive office leasing assignment for the relaunch of its signature property consisting of 360,000 square feet of office space. RMF’s Office Managing Director, Chris…
Read MoreNEW YORK—New York Gov. Kathy Hochul and New York City Mayor Eric Adams were among the dignitaries on hand for the July 27th groundbreaking on a $189-million affordable housing development in the Morris Heights section of the Bronx. Starhill Phase I will feature 326 affordable apartments, including 200 homes with supportive services for individuals experiencing…
Read MoreWASHINGTON—The U.S. Department of the Treasury announced on July 27 new guidance to increase the ability of state, local, and tribal governments to use American Rescue Plan funds to boost the supply of affordable housing in their communities. The new guidance follows a commitment in the administration’s recently released Housing Supply Action Plan to leverage…
Read MoreWASHINGTON—New home sales in June fell to the lowest level since April 2020, reflecting declining builder sentiment as construction bottlenecks continue to slow new home building and raise housing costs, the National Association of Home Builders reported on July 26. Sales of newly built, single-family homes in June fell 8.1% to a 590,000 seasonally adjusted…
Read MoreNEW YORK—The Corcoran Group, LLC is expanding its brokerage operations to the Jersey City-Hoboken markets with its affiliation with Sawyer Smith Residential. Sawyer Smith Residential is owned and led by Timothy Sawyer Smith and serves Hoboken and Jersey City. The firm will now operate as Corcoran Sawyer Smith. The deal was announced by Corcoran President…
Read MoreHARRISON—Daybase, a hybrid work company, held an opening ceremony on July 25 for its first Westchester location in Harrison. The founders of Daybase were joined at the event by Harrison Mayor Richard Dionisio, along with members of the Harrison Town Council, Harrison Planning Board as well as Westchester County Executive George Latimer and Deputy County…
Read MoreWith the Federal Reserve poised to ratchet up short-term rates by 75 to as much as 100 basis points later this month and inflation currently at a four-decade high of 9.1%, fears in the investment and real estate communities are that a recession could be on the horizon. While the current economy differs widely from…
Read MoreWHITE PLAINS—If Realtors are feeling a sense of deja vu when it comes to current home sales activity, perhaps they are recalling how conditions were back in 2018 and 2019, which were both considered strong markets at the time. However, the boom market of 2021, with surging sales and soaring prices throughout the region, has…
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