WHITE PLAINS-After securing the approval of the Westchester County Industrial Development Agency to assign the rights to financial incentives for The Collection mixed-use project here, Toll Brothers Apartment Living acquired the 2.97-acre fully approved development site for $32.76 million. Saber Real Estate Advisors, LLC, which secured the approvals for the $136.2 million mixed-use residential development…
Read MoreALBANY — The New York State Public Service Commission approved on July 11 the implementation of a consumer awareness campaign to encourage the installation of renewable energy and energy efficiency resources in Westchester County. The program was developed in consultation with the New York State Energy Research and Development Authority (NYSERDA) and Westchester County to…
Read MoreRYE—Grand Lux Realty of Armonk recently announced the closing of 300 Grace Church St. in Rye for a sale price of $4,651,667. The transaction, which closed on May 22nd, was the most expensive in the history of Grand Lux Realty. The seven- bedroom, six-and-a-half bath colonial was sold by Shauna Brika, a new agent at…
Read MoreALBANY—Gov. Andrew M. Cuomo announced on July 11 the first round of funding for the $15-million Future Grid Challenge, a program to help solve technical challenges utilities face with energy transmission and distribution when integrating renewable energy resources into New York's electric grid. In this first round of funding, up to $6 million is available…
Read MoreCARMEL—The Putnam County Economic Development Corp. (EDC) announced on July 9 that Kathleen Dennehy Abels was named president of the agency. Abels began working at PEDC effective July 1. Abels has decades of experience in public relations, customer service, marketing, construction and project management. She recently completed a career at New York State Electric &…
Read MorePORT CHESTER—Starwood Capital Group, which acquired the shuttered United Hospital property here 13 years ago and proposed a $450-million redevelopment at the site, has sold the complex to partners Rose Associates and BedRock Real Estate Partners of New York City. No financial details of the transaction were disclosed. The sale of the 15.45-acre site that…
Read MoreWASHINGTONVILLE—Aurochemicals, a manufacturer of natural aroma ingredients for the flavor and fragrance industry, marked the official opening of a brand-new, $2.5-million warehouse facility with a ribbon cutting ceremony on July 9. Local dignitaries, including Orange County Executive Steven Neuhaus; Village of Washingtonville Mayor Joseph Bucco and Orange County Chamber of Commerce President and CEO Lynn…
Read MoreWASHINGTON—The Mortgage Bankers Association's first quarter of 2019 Commercial/Multifamily DataBook was released earlier this month. The quarterly report summarizes major trends that developed during the first three months of the year. "Low interest rates and strong property values continue to make commercial real estate an attractive market for borrowers," said Jamie Woodwell, MBA's vice president…
Read MoreYONKERS—Global commercial real estate advisory firm Newmark Knight Frank announced on July 2 it had arranged a $70-million fixed-rate loan for the financing of the River Club at Hudson Park in Yonkers on behalf of Strategic Capital, the investment arm of China Construction America. The Newmark Knight Frank team was led by Dustin Stolly and…
Read MoreEditor’s Note: The following is the text of the 2019 SECOND QUARTER RESIDENTIAL REAL ESTATE SALES REPORT Westchester, Putnam, Rockland, Orange, Sullivan Counties, New York released on July 8th by the Hudson Gateway Multiple Listing Service Inc. Residential sales for the second quarter in the lower Hudson Valley region served by the Hudson Gateway Multiple…
Read MoreWHITE PLAINS—Mount Vernon Mayor Richard Thomas who came into office in 2016 promising to reform city government will be resigning effective Sept. 30th after pleading guilty to two misdemeanor criminal charges in connection with his admitted misuse of campaign funds. Mayor Thomas agreed to resign from office as part of a plea deal he reached…
Read MoreNEW YORK CITY—Global workspace provider Knotel reports it has finalized deals for five new locations in New York City, bringing its overall footprint here to 100 buildings and nearly 2.5 million square feet of office space. The firm’s announcement on July 1 followed completed deals for 24 new locations in New York City, London, Paris…
Read MoreNEW YORK—Camber Property Group, a developer of affordable and mixed-income projects in New York City, and partner Belveron Real Estate Partners have acquired the 400-unit high-rise Highbridge House apartment building in the Bronx for $76.25 million. The 26-story property at 1133 Ogden Ave. was sold by Stellar Management of New York City. Aaron Jungreis of…
Read MoreFISHKILL—A.S.A.P. Mortgage reports it has recently opened a new branch location in Fishkill. The firm’s sixth office further expands its coverage into Dutchess County and the upper Hudson Valley region. “We are very excited to now serve the lending needs of homebuyers in Dutchess County,” says A.S.A.P. Mortgage founder and CEO Irene Amato, “especially as…
Read MorePOUGHKEEPSIE—The Hudson Valley Economic Development Corp. and the Westchester County Association have called off their merger deal. The two business organizations, which had announced in late January their intent to merge, have mutually decided not to pursue the merger that was to be finalized this September. The HVEDC is a regional economic development organization based…
Read MoreWHITE PLAINS—Vanessa Saunders of Global Property Systems in White Plains was elected to a two-year term as Secretary General of the Marketing and Networking Committee of the International Real Estate Federation (FIABCI). Saunders is the first individual to be appointed to this position from the Hudson Valley region. Founded in 1951 in Paris, the FIABCI…
Read MoreThe Hudson Gateway Association of Realtors regrets to inform its membership of the passing of a real estate executive who has had a lasting impact on Westchester’s real estate industry—George Lawrence. Lawrence of Vero Beach, FL peacefully passed away on Tuesday, June 18, 2019 at the age of 81. He was born on Aug. 9,…
Read MoreOn March 4, 2019, the Second Circuit Court of Appeals in New York in Francis v. Kings Park Manor, Inc. (see https://bit.ly/2Kd38bo) found that a landlord can be held liable under the Federal Fair Housing Act (see https://bit.ly/2WBzEdH) and the New York State Human Rights Law (see https://dhr.ny.gov/law) for failing to protect a tenant from…
Read MoreThis quaint little community has been described as "the art and soul on the Hudson," by Nyack's Chamber of Commerce. The 1.6 square mile village, located in the Town of Orangetown in Rockland County, has been home to artists, musicians, actors and celebrities like Rosie O'Donnell. Part of what makes Nyack a unique hub of…
Read MoreThe Business Council of Westchester recently hosted a lively panel discussion of successful mother-and-son businesses that explored how their businesses have found success through an intergenerational business model. The program titled “Mother’s & Sons in Leadership: Shared Vision for Success” was held at Kanopi at the Ritz-Carlton in White Plains. From left, Marsha Gordon, CEO…
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